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Is it really possible to put money aside without touching it?

I mean I can do it but for some reason my dh has to use every penney on everything it seems like when he has money he has to spend it right then. Don't get me wrong he spends it on us our family but I would like to save some like you do when you have extra change only I want to save big bills 20's, 50's, 100's.

Thanks Ladies, any ideas?

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Anonymous

Asked by Anonymous at 4:35 PM on Oct. 26, 2009 in Money & Work

Answers (12)
  • Yes, it takes discipline...I put money into my daughters savings with full access and I also have a savings account that I use for christmas money...Even though I may need to pay a bill that I don't have the money for, I never touch those accounts and somehow I always find the money for bills.
    Jademom07

    Answer by Jademom07 at 4:38 PM on Oct. 26, 2009

  • Put it in an account that penalizes you for withdrawals. Your bank can set it up for you. Or, give him an "allowance" every week. Even if you are just saving $5 per week, there are accounts that can help grow that money.
    ecodani

    Answer by ecodani at 4:39 PM on Oct. 26, 2009

  • There's two ways that have worked for us:
    1.) The moment my husband gets paid we write a check and drive to a separate bank to deposit the money into a savings account. We agree on the amount BEFORE he gets paid.

    2.) We put money aside in an envelope. We specifically label that envelope with exactly what the money is for. So we've got one envelope that simply states: LIFE OR DEATH EMERGENCY. If it's not life or death, we don't touch it. You can also use the envelope system to save for something else. Just make sure it's labeled so that you don't touch it.

    Also, like the savings account- you need to decide how much and when you will put money in there.
    Anonymous

    Answer by Anonymous at 4:40 PM on Oct. 26, 2009

  • my dh is the same way. if you have to go grocery shopping, take like $20 or whatever you can afford, and tuck it away somewhere. if you spent $120 on groceries tell him it was $140 (unless he looks at all reciepts) and take that $20, put it in a hiding spot he doesn't know about. DON'T tell him you did this, or else he will find something he "has" to spend it on. i did this (before he deployed, and planning on still doing it when he gets back) and it saved us from when we ran out of money, and we needed something last minute. ( something we actually NEED) he still to this day doesn't know where my hiding place is. :)
    armywife43

    Answer by armywife43 at 4:41 PM on Oct. 26, 2009

  • god men are all the same

    i bought a lock box off ebay to store extra cash in and i dont know why but he keeps going in it and has taken over 500 dollars out of it already - to f'ing loan to people at that.

    I'm hiding his damned key.
    staciandababy

    Answer by staciandababy at 4:55 PM on Oct. 26, 2009

  • I get a montly cheque from the gov't for the kids. I put it in my personal account, then split it evenly into my girls accounts.

    we take 10% of every cheque and put it into a high interest savings account.

    but I also slip $20 a week out of the accounts and put it in a lock box in my undies drawer. lol and then when I have extra cash (loonies, twoonies, fives, etc...I slip those in too)
    hypermamaz

    Answer by hypermamaz at 5:08 PM on Oct. 26, 2009

  • No, no ideas. Sometimes we save 2k and then it goes on bills, groceries, a trip and blink it's gone again.
    Anonymous

    Answer by Anonymous at 6:36 PM on Oct. 26, 2009

  • Pay yourself first, and make that amount part of your budget. We have an ING direct account, and I can set up a direct deposit for it, but it's a lot harder to withdraw the funds because I have to move it over to my regular bank account. That takes 2 days!
    Journey311

    Answer by Journey311 at 7:13 PM on Oct. 26, 2009

  • We are on a budget and we put only 50-100 away a month for dh and I and 80.00 away for our dd each month.We just dont touch the money at all.No matter what.Ours is just a savings as well as our dd's.Its all about budgeting and priorities.We give ourselves an allowance each pay as well.
    Nattiesmom9603

    Answer by Nattiesmom9603 at 7:20 PM on Oct. 26, 2009

  • instead of a set AMOUNT. you should tuck away a percentage.

    since incomes fluctuate - some months there's lot and some months not so much - go for a percentage so that in those tight months you don't have to really scrimp because you have to put so much away, its easily manageable.

    hypermamaz

    Answer by hypermamaz at 7:57 PM on Oct. 26, 2009

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