In a quest to finally get some goals in place and a plan to execute those goals, my husband and I sat down to write some things down, look at dates, compute numbers and we have a plan. A solid plan that we both agreed on and are all in for.
A plan to start really saving some money. We were going to do the $25.00 a week for a year to save up around $1300.00 over the course of the year. However, we came up with something even better. We are pretty certain that we have figured out how to save so much more and have a pretty good cushion for when things could go wrong or if something were to happen. It's probably not a plan that would work for everyone but it will for us. We are determined and pretty pumped about it.
I am going in to this year feeling positive about the changes we are making so that we can live a little more stress free.
We don't have any credit cards or store cards. We live a "cash only" life to avoid going into debt and it can be pretty tough when you live on a very tight budget. So a savings plan is vital to being able to fix things when they break, get the kids something when they need it, etc. Something always comes up so this is going to help us so much.
I have thought about doing what some other people do and use a credit card for all bills and just pay off the card when you get paid and that would probably also work for us but for now, we are sticking to the plan and seeing if it really works the way we are calculating that it will. Maybe in the future we will switch things around to start using a credit card to take advantage of some of the reward perks that cards have.
Do you have a set financial plan or savings plan that you implemented and did it work the way you had hoped?