Do you know that feeling of opening your wallet to look at how much money you’ve got, but you see nothing and only hear a deafening silence with a few chirping crickets in the background? No? Well then you probably don’t have such a huge burning hole in your pocket as I have. I love spending money. Either on food (hello, work cafeteria!), on going out with friends (hello, wine!), on shopping (hello, beautiful new dress that I ‘need’ for work!) or on household-items (hello, new vase!). Yes, I’m ashamed to admit it, but I’m a Big Spender.
But now I want to be a Big Saver. Saving money is a grown-up thing to do, right? I feel like I’m obligated to my own age that I start saving money. I need to have goals in life, something to work to. I’m looking forward to traveling, but a wallet with only chirping crickets in it won’t get me to the other side of the world.
I have no self-control or discipline to not use the money I’ve put in my savings account. Plus, wiring money back and forth is so extremely easy – that is definitely my pitfall. So I’ve decided I should start saving money into something where it’s impossible to get the money back out again. I’ve come up with two very different solutions:
Opening an investment account
Working at a bank, I know about the long-term benefits of investing. I never thought it would be something for me or my budget. But, why not start small? I’ve set up an automatic monthly deposit from my checking account to my investment account. It takes time, like years, to see the investment grow large. But knowing it’s slowly growing makes it extremely easy to let the money rest in the account.
Using an money-box without an opening for a #savemoneychallenge
So I bought a simple aluminum money-box that doesn’t have an opening. It was only €3 so buying it wasn’t in conflict with actually saving money. The #savemoneychallenge goes as follows: every week you put money in your money-box. The first week you put in €52, the second week €51, the third week €50, putting every week one Euro less than the week before. After exactly one year, the #savemoneychallenge is completed and you’ve saved quite a large sum of money. The first half year is a lot harder than the second half year! I’m actually still pretty broke, but I know I still have the money. That makes being broke – and the chirping crickets in my wallet – a lot less annoying.