March 30, 2010

Bubbe Says: Make your savings tangible

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My grandmother dispenses wisdom, although now that she’s nearing 90 she often feels that what she offers might be out of date.  That’s a picture of her.  She was blowing bubbles with BabyGirl.  Isn’t she adorable?  Now that I’ve been blogging for a few months though, I’ve been asking my grandma (BabyGirl calls her Bubbe) more about how she’s lived so frugally but has so much and has been so many places.

She grew up at a time when there were no credit cards, personal loans were nearly non-existent and if you didn’t have the money in the bank you couldn’t buy it. So cash it was.

My grandma explained to me that being able to live the life you want is not as much about spending less, but more about actually saving the money you don’t spend. She’s always been a couponer, but I never knew that when she came home she would put aside cash in a special envelope equal to the amount she saved in coupons.

In one of our recent calls she shared the following – Five Ways To Make Savings Tangible:

1. Set aside the money you saved by using coupons.

2. If you go out to dinner with a friend, share a meal and set aside the money you would have spent on a full meal.

3. When you need to buy a gift, set a budget and if you can buy the item at a discount the money you saved should be put aside.

4. Send in for mail in rebates and when you get the check, deposit it in your saving account.

5. If you pay with cash and have coins, take out anything other than the quarters and put them in a jar until it is full then deposit it.

When you make an effort to save money, make sure you have something to show for it!

Sara

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