Things are slowing down

February 15th, 2008 at 02:35 pm

Thngs are really slowing down in our little town. Most of the work around here is related to the construction of new homes. Lots of people have found this area and are moving in. That has almost come to a standstill right now.

I am on a local forum. For years, I have been preaching to the other members of the forum how important it is to save some of what they make, every paycheck.
Of course, they did not listen to me, but continued to spend every dime.

Now, they are complaining that they no longer can pay their bills on time. And after 20 plus years of marriage, they have no savings to help them in these slower times.

But still they do not listen. Anyone can save a little bit, even if it is only $5 out of each paycheck. Please, everybody, pay yourself first!!

Posted in saving | 16 Comments »

16 Responses to “Things are slowing down”

SingleGuyMoney Says:
February 15th, 2008 at 03:28 pm 1203089294
1203089294

You are absolutely right. So many people are so quick to say they don't have ANY money to save. Anyone can save something - just like you said, only if it is $5.
scfr Says:
February 15th, 2008 at 03:56 pm 1203090972
1203090972

Amen Ima Saver!

Even if they know nothing about budgeting, investing, or the rest of personal finance, everyone can still take the most important first step of setting aside a few dollars from each paycheck. And if they can't do it from every single paycheck, they can do it from the paychecks when the rent's not due. In my teens and early-20's, I had excuses for not saving, but they were just excuses, not real reasons.

I'll bet at least one or two of those other forum members will listen and will start to save.
Ima saver Says:
February 15th, 2008 at 04:04 pm 1203091452
1203091452

I had a girlfriend and I urged her to at least save $5 a week. She said, what good would $5 do? Well, that was 30 years ago and I bet she would have a good nest egg if she had listened to me!! (BTW, she has nothing saved)
Aleta Says:
February 15th, 2008 at 04:22 pm 1203092522
1203092522

Many say that they have nothing to save after paying their bills. If you look closely at their lifestyle, you can see where their money is going. They could buy less clothing, less name-brand clothing, cutting down on cell=phone bill, going out to eat less, buying their kids less STUFF which will probably end up in a garage sale and being sold for pennies. They have selectively allowed what they will spend. When people approach me about how I can do the things that I do; I point to my almost 9 year old car, my house which is a medium income house in my area, not eating out a lot, not spending alot on entertainment, my prepaid cellphone (emergency phone), and the list goes on. Where there's a will, there's a way as so many on this forum have proven time and time again. Pay yourself first as Ima says.
Broken Arrow Says:
February 15th, 2008 at 04:22 pm 1203092537
1203092537

Amen!
Broken Arrow Says:
February 15th, 2008 at 04:40 pm 1203093612
1203093612

Aleta: My friends are the same way. One of them could cook at home, but prefers to eat out every day, for at least 2 square meals per day. He has all kinds of reasonings why he thinks this is better (too tired and believe is somehow just as cost-effective as cooking), but then, he'll also mumbled that he doesn't "make" enough to save anything.

Right or wrong, something has to give.
Maismom Says:
February 15th, 2008 at 04:47 pm 1203094025
1203094025

You're so right! I wonder what these people are thinking??? Put their heads in sand?? I also noticed people complain about money often go out to eat, and waste their hard earned money. It takes less than 5 minutes to make a sandwich that will save lunch money.
Aleta Says:
February 15th, 2008 at 04:55 pm 1203094540
1203094540

Even if you go on vacation, you can save some money. We always have a smaller cooler in the front and a larger one in the back with frozen items. Making a sandwich takes two seconds, eating a piece of fruit is healthy and so is water. You can go on vacation and not break the bank.
Ima saver Says:
February 15th, 2008 at 05:05 pm 1203095108
1203095108

I have been married for over 30 years and my husband has taken his lunch every single day. All of his co workers go out to eat lunch every day!
M E Says:
February 15th, 2008 at 06:04 pm 1203098671
1203098671

Does your friend realize that even if she had put that $5 a week "under her mattress" and never earned a penny in interest and/or never touched it, she'd have $7800.

Last time I checked, $7800 was MORE than zero dollars! ;-)
billm950 Says:
February 15th, 2008 at 06:35 pm 1203100531
1203100531

Its funny how i said the same thing to my co-workers. I made everyone open an ING account at the time 2.5 years ago and deposit 5% of their paycheck. I was refering them so they all started with $25 in the account plus whatever they deposited from the check. One of them saved over 5k in little time + interest. Its amazing how things add up that you forget about. My teacher always said. Open up and Savings Acct at a local CU and make it seem like its a bill you have to pay every month. You will find a WAY...

bill
HelpMeFriend Says:
February 16th, 2008 at 01:09 am 1203124146
1203124146

I used to put money away for saving, but it was too accessible for me. I would just use it when I ran out of spending cash. I hope that this CD I opened will help me to save more, since I didn't need it for 6 months, maybe I won't need it for a year and so on.
luxlivingfrugalis Says:
February 16th, 2008 at 03:48 am 1203133729
1203133729

HelpMeFriend, it takes time but if you'll get in the habit of savings and maybe even make it a game with yourself you'll be surprised how quickly you can make turnarounds in your cash usage.

Oh Ima and Aleta - you guys are discussing the same thing that Hubster and I were just talking about earlier tonight. We are often as a nation here in the U.S. so quick to say, "I can't afford ____". No, mostly it's that we have our priorities out of whack and alot of it can be attributed to not thinking through things logically and buying off of our emotions and what hype is fed us thru the boob-tubular!

Let's get back to thinking things through to completion. If I do X, then Y will happen? might happen? Then what? How will that affect Z? If this occurs, then where will we find widgets?

Question - If we BORROW money from China to stimulate our economy and everyone goes to Walmart to spend it where they buy lots of products from China, doesn't that do more to stimulate China's economy rather than the U.S.????

Tell me how borrowing more money that we can't afford has ever gotten someone out of debt????????????? I guess I am confused on basic math skills. If you can't afford it - you CAN'T AFFORD IT!! Seems simple to me. But somehow we seemed warped into thinking we can have it all and someone somewhere will figure out a way to pay for it all someday. Ahghhhaahhggggg!!! Talk about your fairy tale!

Meanwhile the latest on Britney is....

Oh we are in a mess it seems here in what used to be the good ol' U.S. of A.

Sorry, we've been on a political rant here tonight!
baselle Says:
February 16th, 2008 at 03:52 am 1203133924
1203133924

The 2 1/2 yrs I've been saving in my tip box, I've cleared over $1800. And I've just been doing it as a lark, not with any sort of seriousness.
Livingalmostlarge Says:
February 17th, 2008 at 02:42 pm 1203259367
1203259367

Saving money comes in many different forms. It can be bringing lunch or driving a car for an extra year. Small things like that add up as well. Not buying a latte everyday or downgrading cable or cell phone plans.
Aleta Says:
February 17th, 2008 at 06:14 pm 1203272068
1203272068

Savings can also be found when you combine errands and work yourself into a circle rather than going out on 3 to 4 days. I normally gas up, go to the bank, and whatever I need to do. Especially today with the high price of gasoline; savings can be hefty. Also, I've found that the less I go out now, the less I spend.

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Ima Saver's Personal Finance Blog

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Things are slowing down

16 Responses to “Things are slowing down”

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