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I'm starting a dollar jar

July 2nd, 2006 at 09:24 pm

I've been thinking about this for a couple of days and here's what I've come up with to challenge myself.

Every night, whatever dollar bills are in my wallet get stashed away.

On the rare occasion that I babysit, whatever I earn will get stashed away.

At the next payday when I pull out the cash for Food and Gas, anything still in my wallet from the previous pay periods Food and Gas allocation will get stashed away.

At the end of the month if the amount stashed away is $100 or more, put it into savings towards building up emergency fund of $1000.

Any checks that come in from silly things like surveys, etc, go straight into emergency fund savings.

Change will still be saved and sorted in the usual manner, not to be touched until absolutely necessary.

We'll see how that goes. Especially since I'll be draining my savings account on the 5th to try and pay off recent charges I made on my newly paid off credit card. So I want to try building it back up as quickly as possible.

Posted in Saving, Dollar Jar | 4 Comments »

4 Responses to “I'm starting a dollar jar”

  1. ima saver Says:
    July 2nd, 2006 at 09:35 pm 1151876100
    1151876100

    Good luck!!

  2. PRICEPLUS Says:
    July 3rd, 2006 at 04:29 am 1151900991
    1151900991

    Keep up the good work! You'll be surprised how the saving start to add up!Smile

  3. baselle Says:
    July 3rd, 2006 at 07:01 am 1151910100
    1151910100

    Even if you have to withdraw your savings every month to make up your budget shortfall, its still more important to develop the habit of sticking any found money in savings and the dollar jar rather than putting it in your wallet and spending it. It feels like you're doing something different. Smile

  4. sakigt Says:
    July 3rd, 2006 at 02:54 pm 1151938471
    1151938471

    I have the same concept. Its actually for spare change since spare dollars donthappen much with my $20 a week budget. I also add leftover money from my budget and rebate checks.

    Im saving for a trip up north in September. Im definitely on my way to paying for it with extra cash Smile

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