Thursday, July 22, 2010

How to save 10 bucks a week for tough times ahead Pt 1

“Let the savings begin.”

That’s the catch-phrase related to Scotiabank’s new initiative to encourage Canadians to save for tough times ahead.

According to a recent survey, “nearly one in five said they have no money at all set aside,” and I’m hoping my sons are not among that group.

Really, the basement’s a mess and I’d hate to go back to the days when the fridge door opened and closed every five minutes and it wasn’t because of me in search of the last slice of elderberry pie.


["Rare sighting: $10 peeking out of Gord's wallet"]

But, how will anyone who buys into the initiative to save money come up with, say, 10 bucks per week as a start? $20 bucks? $30 bucks? And how much is enough? How do we figure these things out?

Like many people, I don’t have all the information I need.

But, while I’m collecting information, let’s all save $10 per week (for tough times ahead), stash it in an old boot or under the mattress, wherever, and see how that feels.

In other words, let’s start a bold “save money” experiment and see if it goes anywhere.

Maybe saving money will become a habit (I think it will take 10 - 12 weeks before it’s a habit). Maybe the desire will vanish and we’ll go back to same old, same old. Maybe we’ll hit $20 per week in 8 weeks time. Maybe we’ll have $200 in 3 months. I don’t know.

I do know it will be hard for some, not so hard for others.

Stay tuned.

***

I think $10 a week will be easy for me.

I’ll tell you why.

Tomorrow.

(Really. You knew that was coming, right?)

.

No comments: