Is Saving Money Wrong?

Is Saving Money Wrong?

If you are from one of the many planets that Captain Kirk discovered during his travels, you might think that saving money on planet earth is a bad thing. We live in a world where we’re told to spend, spend, spend. We’re rarely told to save, save, save. But in this case, I think William Shatner is right. We need to save before we can spend.

How are you working towards saving before you spend? Let me know in the comments!

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8 thoughts on “Is Saving Money Wrong?

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  1. Liz

    We have two checking accounts. One is our “savings” account and draws (piddly) interest, but we have an automatic savings plan that a set amount transfers over to every two weeks. It’s the ONLY way we can save before we spend. If we didn’t do that, I know we’d never save a dime. Automatic savings is our lifeline!

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  2. Paige

    I’m only in college and I’ve already been saving a ton of money from my on-campus job! It’s not much, but I’m definitely preparing myself to save & pay off my student loans as soon as I can once I graduate!

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  3. Ms.Mintly@MintlyBlog

    We started a sinking fund, and we put $600 into it each month. That way when an expense we can plan for (and spend money on) comes up, such as car insurance, we have the funds to cover it. We save it to spend, and that way we don’t end up using up other funds to cover those costs. Instead, our regular funds can be used to pay down debt!

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  4. Heather

    Since paying off my debt (except my mortgage) I’ve been working on transferring my extra money into savings. I’m still contributing to retirement and working on paying down my mortgage early, but my main focus right now is on building savings. I never want to go into debt again, so I want enough for house projects, emergency funds, and my next car down the road. I’m getting tired of consuming and having so much stuff in my house, so saving feels refreshing!

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  5. Katie

    I have a second, part-time job outside of my full-time job and I use the paycheck from that part-time job for my car loan. Anytime I made more during that month than the car loan costs, I total up that amount and divvy it up between my loans and savings. I pay such close attention to my spending habits and monthly expenses so that when I find I have extra money, it goes right back to one of these sources!

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