Saving Money Gradually
Even though I am not financially struggling because I do not like debt. I have decided that I want to go back to school in evenings after work and I do not want to take out a loan. While I have saved up a decent amount, I need to continue saving so that I can pay off the tuition on my own. I am also a big believer in saving for retirement. Therefore, after reading “Quick Money Wins to Help You Feel More in Control of your Finances,” by Kristin Wong on Get Rich Slowly, I decided to try the challenge of spending less or being thrifty.
This was a difficult challenge because shortly after I started it, I realized that the past few weeks have been really warm and while I have regular summer clothes to wear outside, I don’t have any for work. In order to minimize expenses, I decided to continue wearing some of my fall clothes and gradually bought three shirts instead. That way, I did not splurge between pay periods. I managed to keep aside $100 and when combined with this current pay period, I was able to pay off the Hydro bill and have some extra to hopefully treat my husband to brunch, add one extra item to my summer collection and save some.
As I was reflecting on the beginning stages of my progress, I realized that this could come in handy for anyone. Teachers tend to pay out of pocket quite a bit for their students and this is an awesome way to put money aside for those expenses. Parents who are either homeschooling or not can also use this to save for themselves or for the future of their children.
I would love to know if anyone will join me on this challenge. Please let me know how it goes by either commenting or connecting with me in the following ways: