Just recently, my fiance and I created a system where we are given an allowance to spend for personal expenses (cd's, clothes, shoes, eating out, etc.) each month. Not a new concept at all. However, it is new for me.
In our system, instead of keeping track of how much money is being debited out of our bank account, we take out the monthly amount allotted in cash.
You know that phrase, Act your age and not your shoe size. Well, I know at least a few people whose age number is larger than their bank statement at the moment. In fact, when I was switching banks a few weeks back, (run-on sentence alert) one woman Usain Bolted out of the bank back to the store where she just bought a t-shirt 5 minutes prior because the teller told her that she only had $4.30 in her account when she tried to take out $80 so she could get a new train/bus card and that $4.30 was showing up on available funds and this was before the t-shirt had went through the final bank transaction because the store transaction was showing up as pending so she was hoping to return it in time and get a refund or pay a $45 dollar overdraft fee.
So, at the risk of underestimating the importance of saving so as not to hear the word overdraft, what are you doing to save?
