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Oftentimes when people think about saving money, they think about it as this big, arduous, stressful task.
That little voice inside your head screams:
“Saving money is more work.”
“I don’t make enough to save.”
“I want all my money in one place.”
“Who cares about saving money? YOLO.”
But I’m here to tell you it doesn’t have to be that way. Saving money doesn’t have to be time-consuming, let alone stressful. Let your savings work for you! Here is how to get started:
Read more at VOSA.com
Melanie Lockert is the founder of the blog and author of the book, Dear Debt. Through her blog, she chronicled her journey out of $81,000 in student loan debt. She is also the co-founder of the Lola Retreat, which helps bold women face their fears, own their dreams and figure out a plan to be in control of their finances. She is passionate about empowering women, helping others get out of debt, and focuses on the intersection of debt and mental health. Every September she organizes a Suicide Prevention Awareness Blog Tour, to help share resources for those struggling with debt and suicide. In addition to her love of personal finance, art and music, she is also a karaoke master and a cat mom to Miles and Thelonious.
Latest posts by Melanie (see all)
- Talking About Money and Mental Health - September 12, 2022
- Dear Debt, We’re Better Apart - June 27, 2022
- Announcing The Mental Health and Wealth Summit - May 4, 2021
16 comments
Wonderful blog post I’ll say. I’m not a great saver but do save 15% of the income on an average. What I liked best in this blog post is the automate saving concept. I’ve never heard anything like this before. This is completely a new concept to me. Though I save 15% every month on an average but sometimes I do spend more and the savings rate comes down to almost zero percent. To avoid any such thing I’ll definitely give this automatic savings a try and I hope that will force me to save at least 15% of what I more or less earn. Thanks for the guidance. 🙂
You’re welcome. Give automation a try. If you can save at least 15%, that is a great start!
Absolutely, there is definite utility to be gained from having savings put aside — beyond the fact that we’ll get to use it later. I’ll check this out on VOSA.
Thanks for commenting — savings helps me sleep better, and automation makes it so easy.
What a great post. I agree to automate savings as well otherwise people make excuses and spend the money. If it’s gone before you have a chance to spend it even better. This is what we do every month.
Automating has been life-changing for me. It’s TOO easy to make excuses and spend like you say, if it’s not automated. Glad you liked the post! 🙂
I’m so torn on the automated idea! Right there with you on the buckets — I’ve just set mine up — but I like the control/satisfaction of physically moving the money (ok, physically clicking on the “transfer” link). But on the other hand automating it would make it easier not to say “oh, I can’t afford it this month….”
I understand the physical satisfaction, lol. However, I do know that it’s so easy to say you can’t afford it this month if it’s not automated. I was able to save $14k for grad school through automation — one day I literally woke up and saw that money in the bank and I was shocked.
OK, you’ve definitely peeked my interest. Off to Vosa to check out the post!
So — what did you think? 🙂 Thanks for stopping by, Josh!
I like the idea you presented – very much! Yes, I can start with 1% savings because true, it won’t hurt me and I know I can gradually increase that. I only found it funny that the latte store would charge an amount like $2.25 but wont’ accept change.
Hey Melanie, I actually really enjoyed the post. It’s amazing how fast change adds up huh! Also, I’m a huge fan of savings goals. Great work!!! So, we need to hook up. I just got into a new house…would love to have you over for a beer!!!
I’d love to come over and hang!
Can you email me your phone number? Next time we have a BBQ or just have friends over for a beer I’ll give you a call to see if your available!
Setting savings goals and targets are huge! It’s my favorite way to save and it definitely helps when those “unexpected” costs like needing a new roof or furnace happen.
I liked the article! I am a big fan of “The Slight Edge” by Jeff Olsen. It talks a lot about how little steps like this can make a huge difference over time. That’s what I love about automation! I automate as much as I can, especially investing, saving and giving!