Friday, July 23, 2010

How to save $10 per week for tough times Pt 2

We need to start saving money on a regular basis for tough times ahead.

I think it will be easy for me because I'm a saver.

I'm also very grateful to be in the position in life that I am.

For example, I'm retired with a pension.

Sorry, I lied. I have two pensions.

I also write a weekly column and get a small fee for my brilliant service. I also build chairs and birdhouses in a small workshop and don't give all of my projects away. (Yes, the government knows about me and is likely happy, from a taxable income point of view at least, that I turn rescued lumber into something they call a revenue stream.)

So, I'm a saver (long story short; my folks drilled the benefits of saving money into my head at an early age) and have a few revenue streams.

Oh yeah, before I forget, I should also say I'm 'somewhat frugal' and don't like malls or shopping or spending my hard earned dough on a long list of frivolous stuff. (Sure, I buy frivolous stuff - I live in North America after all - but I'm pretty sure many people would consider I keep the list short).

For me, the job of saving 10 bucks per week for tough times ahead will be easy.

Here's what I'll do.

I'll take an empty peanut butter jat from the recycle bin and put a label on it.

Something like, '$10 per week,' or 'Tough Times Is Coming,' or 'Be Prepared.' (Yup, I was a Boy Cub as a kid and 'be prepared' was our motto. It stuck. I also got into the weekly habit of shining my shoes so they would look better and last longer).

Now, I'm in Fenelon Falls at the moment and am listening to my grand-daughters eat their supper, but when I get home I'll find that peanut butter jar. And I'll be on my way to saving $520 by this time next year.

To help me feed the kitty, I resolve to stop eating street meat, e.g., outside Home Depot, Canadian Tire, etc.

I resolve to take proceeds from birdhouse sales and fill the jar occasionally rather than the gas tank on my motorcycle.

I resolve to write two columns about saving money and put the proceeds into the jar.

That's for starters.

What else could I do?

What can you do?

Are you with me on this one?

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