Who puts money into their savings (when we have jobs)

[unionwirewoman]

Hubby and I have been out of work for 4+ months now ( mostly due to injuries that have led to work comp refusing us and getting sued ) . MY question is......how many actually put money into savings ( not touching it ) until events like this happen ? We were lucky enough to have saved $20,000 in a year and a half in case something like this happened . We live well ( no flat screens , or new furniture , no new carpet to replace the lime green we have ) but we have steak and shrimp 1 aweek (well we used to ) . How many others plan ahead for unforseen circumstances such as these ? Hubbys ex says she can't drive the 10 miles out here to drop off the kids , yet she orders take out and buys new clothes and furniture herself . Just wondering where everyone elses priorities lie .

 

[English Chick]

My DH always plans for the future...in case of unforeseen circumstances.....he is good like that......

 

[Steve]

I do.

I am a Building contractor, in my line of work ( in Michigan) we have highs and lows, feast and famine.....so I have an account that I dip into only when I have to. I don't live high on the hog, all my bills are paid and I "pretend" that account doesn't exist.

 

[unionwirewoman]

Quote:
Sounds like good business sense to me...keep it up...one day you'll thank yourself for it , if you already haven't . We have yet to dip into ours....but that day is coming REAL soon . Glad some people know about rainy day accounts .

 

[erthymom2]

Always, always "pay yourself" by putting money into your savings then pay the bills. Even if it changes from paycheck to paycheck - remember to pay yourself.

 

[lobb40118]

I save a few thousand but should save more. It is roughly 1-2 months of bills and food and such. I am attempting to put away at least 6 months of savings so as to cover everything for 6 months.

 

[unionwirewoman]

Quote:
I agree...even if it's $10 a month . Forget you even have it ...then when times get really tough...it's always there for you . We have ours in a credit union that has a percentage rate of over 4% ....so we get a % of the divedends back into our account . You can spend that $5 a day on coffee , or buy your own pot and save the money in the bank when times get really tough . This is aimed for any who would truly look at their life and ask the simple question " do I really NEED this...or is it a want ? " If it's something you really NEED...by all means do it...if it's a want...ask yourself how happy your life will be with a simple impulse . It might make you feel better for the time being...but how long will it last ? Will it pay your bills , or hinder you from paying your bills ? Needs and wants are on 2 different spectrums of life .

 

[Steve]

Quote:
My brother had a rule kinda along those lines.

Every paycheck he put 10% of it away. That came right off the top before anything, then learned to live (comfortably) on what he had left.

My grandpa had a saying too that still rings true....it isn't what you make, it is what you save.

 

[unionwirewoman]

Quote:
My brother had a rule kinda along those lines.

Every paycheck he put 10% of it away. That came right off the top before anything, then learned to live (comfortably) on what he had left.

My grandpa had a saying too that still rings true....it isn't what you make, it is what you save.

 

[The Chicken Lady]

We do. DH and I planning on getting a house within the next year. We have a savings account for our "house fund."