I have always saved. Halloween candy - stored it in a little plastic briefcase and would keep it so long that I would have to throw it out because it was stale. I saved cash from trips – I would eat soup and anything cheap all week long on my zone swimming trips so that I could come home with cash to give back to my mom (my mom would send me with enough cash so I wouldn’t have to do this). Savings accounts – I always put a portion of my pay check into a savings account and found a thrill in watching the numbers rise over time.
I inherited my ways my from family.When I was born my parents started a savings account for me- $100 bucks a month when it started. It has slowly grown over time and I now get to use that money as an adult to make major purchases – like down payments for a house. They started a savings account when I was born that would pay for my college tuition (I chose an instate school). I didn’t have to deal with student loans. The little sacrifice my parents made each month built into something large.
My husband often gives me a hard time, because not everyone has this luxury.
I decided that I want our kids to have that luxury. We don’t even have kids yet, but we have started a started a savings account and dubbed it the kid fund. We started almost a year ago and put in $100 bucks a month. We have since increased our monthly contributions to $250 as we have made more room in the budget. We started the fund before we were married in hopes that it would grow before our family even did. I feel content now knowing that the money I was used to sitting on in my bank account – I literally had to keep it at $5,000 in my checking account- is now going to something besides my comfort. My husband and I have savings accounts for multiple goals: baby, house, vacation, emergency, etc. We start with a bit of seed money and let them build slowly each month. We treat our savings as a bill (one from our future selves) – money gets automatically transferred to the savings accounts each month. They may not build as fast as I wish they would, but the balances go up every single month.
Though I no longer have $5,000 dollars in my checking account (my husband thinks checking balances that large are a waste of earned interest) and it sometimes pains me. I had grown accustomed to not having to worry if I spent $200 bucks at Anthropologie ( I LOVE that store). What I do have is the comfort in my future. The money is sitting in warm nests some place besides my cehcking account and I know that I will be able to offer some of the comfort that I had as a kid to my kids and it is way more awesome than sitting on it for my own good.
Readers: Do you have goal savings accounts for regular expenses? If you do, what categories do you have them for? If not, are you interested in creating some?