Thursday, December 6, 2007

Little Money Trick #1

Every week, I have a specific amount set aside for what I deem "pocket money." Now, this pocket money includes bus fares, groceries, shampoo, and whatever else I want to buy. Some weeks, I go over a little, some weeks I'm under a little.

When I'm underbudget, I put any leftover cash from my pocket into a hiding spot in my closet. If the extra cash is in my checking account, I transfer it to my Ing account designated for funding my IRA.

With the cash in the closet, I generally forget about it. Yet, if I'm running late to get somewhere, and need a couple dollars for bus fare (believe me, this has happened more than a couple times!), I can just dip in to the closet. Also, if I'm short of cash (e.g. a week when I don't work for either of my clients), I can dip into the closet cash for groceries or anything else I need.

It's really amazing how a little every so often can add up. I try not to use the money, unless as a last resort, but it's nice to know it's there and immediately accessible.

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