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Money is a key survival prep. Encouragement to save money!

Today I saw a meme that succinctly explained the importance of saving even a little bit of money.

The meme showed that saving $27.40 daily amounts to $10,000 saved in a year. If you can't save that much, saving $2.74 daily amounts to $1,000 in the year (that's a nice mini vacation!).

We often allow our budgets to be bled dry by vampire expenses, pennies here, dollars there... I've audited my budgets in the past and found I was overpaying by $10 or $20 for phone, I cut my cable (~$100/month) 7 years ago, and really scrutinized my budget in other ways to save a little here and there. And it's worth auditing your expenses from time to time.

Cut the fat from your budgets - the eating out, the nights at the bar, the designer coffees, etc. and you can save a lot of money.

Set a goal to save (or otherwise not waste/spend) $6 daily and see if you can do it. That would be an extra $2000 for the rest of 2020. Or extend it to $10 and try to save $3350 for the rest of the year.
 
Another easy was to save, automatic deposits. Thanks to technology, we have our bank automatically move money to savings every two weeks.
 
As I get nearer to retirement, we are cutting back on "stuff" and paying large payments on our credit cards and loans. And yes to cash, you never know when a little cash will come in handy during a "bank holiday" or some other disaster.

When my debit card was compromised a few months ago, I had to wait a week to get a replacement. When I went to the store for groceries, I couldn't pay. I had about $5 cash, no debit card, and no checks! I couldn't even get cash from an ATM because it required my debit card. How embarrassing that was!

Tom
 
About money,

Having what it takes to save money is much the same as staying thin.

Anybody can count calories and determine there intake. Just as easily as they can compare what they add to there savings account vs. what they spend.

The problem is only about ten percent of either is math.

It's human behavior.

And those that have there money under control and are wealthy? Rarely look it.
Conversely. Those that don't , and are broke? Look like millionaires. :s0139:
 
I will NEVER run out of TP, you little people! :s0118:


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It's best to moisten them first. ;):D
 
One thing I struggle with is not saving but with keeping cash or precious metal on hand and accessible. I seldom have cash on hand in case of emergency but try to keep 1k in small bills in the safe. The auto deposit into a savings account that is not used for my primary checking account has definitely helped and made a significant difference. If that account get to a certain level it gets dumped into my brokerage account or a payment of my debt.
 
I've bought everything with cash, no loans, for most of my life. Credit score is 0. A lot of money in the bank and the home vault. Most dr's and dentist's will give me a 25% discount if I pay cash. I'm good with that.
 
20 years ago, a co worker was going through a divorce. He had a court ordered, surprise, sudden, drastic cash flow problem. I helped him....and I got an FN FAL.

You're not just saving for YOUR emergencies, you are saving to help others in need.
 

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