The first-month savings failure

5 thoughts on “The first-month savings failure”

  1. I agree with Tread Lightly! Stick with it because sooner or later you’ll find a system that works to pay down your debt. When Mr. FE was at the start of his career, he also found himself eating out more than he wanted, but the networking paid off and he landed himself a much better opportunity. I would suggest you examine whether or not this will propel your career, if not, maybe pass on a few meals out. If the travel is strictly for business, maybe you can get your company to help out and reimburse you for some of the meal expenses.- Mrs. FE

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    1. Yeah unfortunately, I work in a sector that both requires travel but doesn’t pay expenses beyond hotel/train/flight. I like the idea of thinking that its an investment though. I did manage to only spend money on food/drinks and did not spend even 5 min shopping. That actually saved a lot of money and time.

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  2. I’m also trying to dig my way out of debt. I think we’re about 18 months out.

    I like to practice “symbolic savings.” I put $25 in a savings account, $25 each into mine and my husbands retirement accounts, and $10/month into my daughter’s college 529 savings accounts. It’s a small enough amount of money that I don’t really miss it while we’re living on less, but it’s just enough that I do see it growing over time (whereas when I was stubbornly putting in 10% and constantly using it for overdraft protection, my savings was shrinking over time).

    We’re also thinking we’ll have a month of “Jubilee” when we pay off one thing (the thing we’re putting the bulk of our repayment towards is a roof loan that should be paid off in a month or two, we get to take half the money that we’d usually be putting towards debt and put it towards a special treat for our family. We’re either going to get season passes to a local attractions for our family for our first one or go on a weekend family get-away. It’s something to look forward to and I think it helps us stay motivated.

    Liked by 1 person

    1. So I recently got my drivers permit so that we can stop paying a ridiculous sum of money for parking at the train station. It will require me to drive my spouse and pick them up but maybe we can use half of the money to pay for a date night or something. That is a good idea.

      Liked by 1 person

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