Friday, February 26, 2016

EMERGENCY PREPAREDNESS - Finances - The Change Jar

DISCLAIMER: None of the information provided is law. I share what works for me. Only you can determine what works in your life.

One of the things I try to do every year is make a trip to Texas. I love to travel and the heart and soul of my music writing is there. I have made wonderful friends over the years and I love the whole vibe.

While I do not make a lot of money on my freelance, thanks to my husband I am not a 'starving artist'. I do strive to pay for the majority of my trip on my own. Last year, I paid for a 21-day trip through Texas, including hotel stays the entire time from money I had stashed away all year. The gas and most dinners (I paid cash for breakfasts and lunches) went on the credit card. But even with that, how could I acquire enough cash to pay for even a week from Missouri to Texas, let alone two?

The change jar is my salvation.

Remember when I talked about how I saved our butt when Bob over drew our bank account using the debit card?

Bob used to tease me all the time about having money squirreled away all over the house. I would get $10 in quarters, roll it and stash it in a box in the basement.. you know the lowest NE interior of your house where you need to go in case of a tornado. I did the same with nickels and dimes. Pennies, I do not spend at all.

The other thing Bob used to tease me about is NEVER having ANY change in my purse when we would go out somewhere. I always paid with dollar bills and brought home the change. Even if I was only needing a few pennies, I still broke the $1 bill.

At first when I started doing this, I was saving money from October to October to pay for my annual pilgrimage to the Ozark Creative Writers conference in Eureka Springs AR. The conference ran about $100 (which included the opportunity to enter several writing contest categories for the chance to win Prize $$$), hotel night for three nights (and usually split between at least 3 - 5 people), plus the 2 banquet meals with the conference and about $70 for breakfast/ lunches for the 3 days.

Thankfully, I do not have to do that anymore. That is Bob's contribution to my writing (one of many but he says this is 'my' weekend - yep, I'm keeping him)

So my money gets put back for Texas. With his job this year, I'm not sure I'll spare money for travel. We shall see in the coming weeks. But over the course of the past ten months, I have managed to piggy bank two Miracle whip jars of quarters plus a larger jar of just nickels and dimes. I also strive to win our weight loss challenge every 3 weeks so I can bank that $100 towards my trip.

We are also lucky enough to get taxes back most years. We apply the Federal tax towards something that needs done to the house, new tires for a vehicle if they are due or put it back for emergencies. We split the State return as our year-end bonus. We do not just blow the money because it's there. Everything has a purpose. In able to reach the Out of sight Out of mind = Security status, you have to do assign a purpose. Living willy-nilly, as Grammy used to say, is NOT going to give you that security when you need it. You have to be PREPARED.

The point is.. coins add up and quickly become the
Out of sight Out of mind = Security

Yes, you know it's there but if you earmark that money for a special occasion  - and remember that each time you think you are tempted to dip into the jar to pay for something else - then you will have earned the right to truly enjoy your special occasion.

Start a coin jar. Does not have to be anything fancy. Just put it somewhere so that when you come home at the end of the day, you will empty your pocket or purse of all the change into that container. When the container is full, stash the jar away and start a new one, transfer that money either into your checking account as a HIDDEN DEPOSIT in your Secret Vault (we talked about that last week), turn it into cash and stash it in the lowest NE corner of your house in a fireproof box, whatever. Just DO NOT SPEND IT until you are ready for that Special Occasion you've been saving for ... and start all over.

Be Empowered!

No comments:

Post a Comment