Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Do you have a savings account?  If so, how do you set up the deposits  i.e. taken out of paychecks, pay yourself before paying bills, have a change jar and deposit when it's full, etc.

by on Oct. 23, 2010 at 3:34 PM
Replies (11-17):
by on May. 2, 2012 at 8:05 PM

I do have a savings account.  I have 1 deposit a month going in there taking from my checking account.  It goes out every month at the same time and it's the same amount.

by on May. 2, 2012 at 8:15 PM

We have a Savings account that we put $1,000 in a month no excuses it goes in there and we don't touch that savings unless it's important, like to repair a car, or something.

I also have a piggy bank that I put money in. It's usually left over from going to get this or that and paying cash like $5's or $10's but I don't want to keep them in my wallet so they go in the piggy bank lol. It's a good way to save I think for presents and stuff.

by on May. 2, 2012 at 8:17 PM

 We have one and just add to it when we can.

by on May. 2, 2012 at 9:52 PM

Matt has one, and he directs a certain amount to it every pay period.

by on May. 2, 2012 at 10:03 PM
Yes we each have a small about $500. Its slowly dwindling but we add to it at every tax season.
We also have a change jar and an envelope for extra spending cash.
Posted on CafeMom Mobile
by Silver Member on May. 2, 2012 at 10:05 PM
Is there such a thing as having too many?? I have my BEF (DR fans you understand), I have another account that I put 10% of my paychecks into...I have others...but I don't let them get too crazy - Im saving for my car tags, Christmas, birthdays, school clothes, two weekend trips out of town next year, braces for my daughter...and my own college classes and books. Once they get to the amount I budget, the interest gets transferred to my checking to be sent to my truck payment (last debt before the house!!)
Posted on CafeMom Mobile
by on May. 3, 2012 at 1:27 AM

Yes. We like to keep it at around 3 months of DH's paycheck. Since I have been unemployed for over a year, we haven't been able to save much. Now we just took out a good chunk and are more at like 2 1/2 of DH's paycheck, but got rid of our credit card debt and can start putting 100-200 a month in it. I need to just set up a regular transfer of $100 so at least that goes back in. Fingers crossed I get a job for this fall, then we'll pay off our cars and start putting around $1k in it each month. My goal is to have $40k saved for a downpayment on a new house within 5 years. If I can get a job, it will be totally doable.

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)