by Hope
I am in a “tighten your belt” phase as I continue to search for new streams of income. It’s pretty much a no spend February. But I was inspired by something my friend said at family dinner during my reset this past weekend.
She was talking to Princess about investing and she brought up the round up method. I remember several years back several banks offered this as a method of savings and I know some stores still offer it at checkout as a way to donate. My friend was encouraging my daughter to round up every purchase and put that money in a ROTH IRA. Good advice.
Baby Steps to Saving
I have always done best with my money when it’s kind of a game so the round up method is a great way to keep myself motivated. For February I have decided to continue some of my on going games, but also add this new one.
- Don’t spend $5 – this is an ongoing game I play with myself. Although I don’t deal with cash very often, when I do, I never spend a $5 bill. It goes in a shoe box, like a rainy day cash savings account.
- Rounding up – inspired by my friend’s suggestion, and a constant user of my debit and credit card, I am going to round up every purchase to the nearest $1 and put that change into a savings account. I have an extra one just sitting with $10 in it, so it will be easy to track what effect this one has.
- De-clutter and Sell it – Most of the time when I clean things out, I give them away, mostly because I just want them gone. But this time around, I will be making a point to sell the items I can as I do another round of purging. I have a second savings account just sitting with $10 in it, so this one will also be tracked.
I know this isn’t much. But when the cards are stacked against you again. Keeping your focus and your mind focused are important. Preparing for the worst and hoping for the best! I know a new job and new income stream is right around the corner!
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
Hope, you’re killing me, please put some of this in a Roth for yourself too, please! You need retirement savings.
I think you would do better off creating a financial plan for your money rather than focus on saving nickels and dimes. It’s great advice for Princess or others just wrapping their mind around money. But you are way past that in your life! You need to work on creating income and saving and planning for retirement. I would worry way less about starting your life over from scratch and just focus on one thing at a time. Judging by your urgency, you don’t have the ability or means to waste time on reinventing your entire self. You only just finished setting yourself up with the house and renovations mid-last year. And now you want to tear it all down? I get the strong urge to reinvent and throw away a lot of your life when you’re depressed and life throws you a giant curveball. But think about what you have done and work with what you have. Just focus on one thing at a time and don’t overcomplicate things.
I know I’m a broken record, but I wish I had ditched Verizon years ago! Switching to Visible was accomplished in a couple hours and I’ve had zero impact to the service I was used to.
I’ve found it really easy to sell stuff like higher end clothes through Facebook marketplace. The shipping is user-friendly, you just print a label and drop it in the mail.
Hope….missing your posts…it is April 7. Hope you and yours are all okay.