How do you stay motivated?
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    Default How do you stay motivated?

    How do you stay motivated to scrimp and save? I have no debt and money sitting in the bank, lots of people around that don't get why I'm saving the money and tell me "well you say you want a new car, you have money in the bank just go buy one". Ive been hearing it so much lately that man do I want to cash out my money and go buy something new!! Or well youve wanted a camera for awhile just go get one. So how do you stay motivated!! I need help!! I woke up this morning wanting to pack up the kids and go shopping lol!! Not good!

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    Registered User MaryCarney's Avatar
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    My motivation lives with me - my two teens who will spend (God willing) three of their four years in college at the same time.

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    Registered User dcompton's Avatar
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    I can't honestly say that I deny myself much at this point, but fortunately, my wants are quite moderate.

    But I stay focused on the goial - retirement which isn't so very far away - by doing an end of the month balance sheet. So I check in on the retirement savings once a month, at the time when I'm doing cash flow for the next month. This means I'm working out how much I can contribute to retirement just at the time I've seen the balance and wish it were larger, so I'm in the mind set to send the most I possibly can to the IRA. I do it immediately, it's done, and that's that. No second guessing because the money's gone.
    Donna

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    Registered User frugal is fun's Avatar
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    maybe you need to prioritize your wants. Or maybe set up separate ING accounts so you can see the $$ you have set aside for different things.

    Right now I have a "fun or wants" account, I have a car payment account and I have a heating fuel account. I put money into these accounts weekly.

    I definitely have things on my wants list and if I don't scrimp and save then I don't know if I'll ever get my "wants".
    Judy


    never loose site of the big picture

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    Quote Originally Posted by Ashley01 View Post
    How do you stay motivated to scrimp and save? I have no debt and money sitting in the bank, lots of people around that don't get why I'm saving the money and tell me "well you say you want a new car, you have money in the bank just go buy one". Ive been hearing it so much lately that man do I want to cash out my money and go buy something new!! Or well youve wanted a camera for awhile just go get one. So how do you stay motivated!! I need help!! I woke up this morning wanting to pack up the kids and go shopping lol!! Not good!
    Do you have money for doing things?

    And, do you save X dollars to buy that camera?

    I'm just suggesting to not COMPLETELY deny yourself.
    I saved 100% by buying nothing. Best sale of the year.

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    Registered User MsMarieH's Avatar
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    I don't entirely believe in saving money for future use only. I've seen too many people (my own parents included) who scrimped and saved their entire lives (and with ten kids, my parents HAD to, of course), only to retire and have their golden years shortchanged with illness. My father - alzheimers and my mother - parkinsons.

    I believe you need a little bit of balance. Yes, you should be setting money aside for retirement and you should have money that is accessible for living expenses if you lost your job, etc.

    But you also should have money that is designated for living and enjoying *TODAY*. Every day is a precious gift but if you live them all feeling like you must scrimp and save and deny yourself, what kind of existence is that?

    I wouldn't give in to spending money just because others want you to. However, I would give thought to what you would like to do with your money - whether supporting a hobby, traveling, even purchasing a car. Make sure it is something that will be satisfying to you TODAY and don't go into debt or spend your emergency fund to do it.

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    I do set aside money for things like eating out misc spending an activity with me and dd but not really for bigger purchases. I think I'm getting getting frustrated with the save save save

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    I know someone who is very frugal. Realize that she has more expenses then I do but sometimes she will buy clothes because they are a dollar and not because they look good. So needless to say her clothes are very faded. She just thinks it is better to only spend a dollar on a shirt. If she sees a piece of costume jewelry on clearance for $5 she will not buy it for herself. I try to not say anything but sometimes I feel she is so used to saving she doesn't understand she can buy the piece of jewelry for $5. It is the way she is and I have to accept that.

    If you want to purchase a camera or new car then start setting aside the money for it. Figure out when the best time of the year is to get a good price and aim for that. This way you know you have the money for the item and are still on track with your saving.

    In the long run, if you feel like saving and know the reasons why then continue to do so. There is nothing wrong with that. I had to save two years to get this computer and shelling out the money for it even though I saved still had a sting to it. But it did feel good knowing I worked hard to save for it.

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    It also really does depend on asking yourself the same question - why do you have all that money in the bank and you're not spending it? Is it because you "need" it to feel safe? Is it because you have a dream of paying for your children's education? Are you afraid of being desitute and starving on the streets? Are you planning on buying land and building your own homestead in 10 years?

    Until you can answer that question for yourself, you've never going to have a good answer when others ask you the same question. Afterall, if you have no reason to keep money in the bank, then you might as well buy a new car or whatever.

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    IMO:
    You need to have a clearly defined, easily understood, achievable goal in order to stay motivated.
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


    Greebo
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    Registered User river's Avatar
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    I find it quite easy to stay motivated now I am 40ish with no savings I need to be motivated, I just relized how hard money is to spend because there never is enough to go around I had saved 100.00 to put towards my emerancy fund but my son had a chance to go on atrip to the city and go to some great museums as well as go shopping so i gave him the money this gave me a great feeling .srry this is so long all i'm saying is it does pay to save . then when we do buy or give $ if it is going with a good feeling and not wasted we will have no regrets.

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    Moderator monkeywrangler71's Avatar
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    I understand how you feel, self-motivation is always difficult. It's hard to save when there is no urgent need - especially if your goals are large and far away. It's the same struggle that makes it difficult for me to dust the living room, nothing is forcing me to do it I have to force myself.

    I do all kinds of things to motivate myself, they tend to only work for a little while so I keep doing different things. I sometimes set short term smaller goals, which are really just a piece of a longer-term goal; imaginary deadlines for saving a certain amount; hide money from myself; pretend planned expenses are going to be more than they really are - really anything that can create some sense of urgency.

    I also sometimes find an ulterior motive for not buying things - maybe for environmental reasons, or as part of a challenge - so I don't feel like there's nothing stopping me. That way I don't start thinking I should have everything that crosses my path, just because I can afford it.

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    Registered User Contrary Housewife's Avatar
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    I think it would help if you stopped telling your friends about the money you have in the bank. Then they would stop being a source of pressure to spend spend spend.

    "Sorry, I can't, I'm broke."

    When we were in recovery mode after we nearly lost everything I managed to convince myself we didn't have any money to spend. I didn't think about the automatic withdrawals going to savings. I certainly didn't tell friends we had $xxxx in the bank. I used the phrase "living hand to mouth" and "getting caught up on the bills" often in discussions.

    Other useful phrases "It's so hard to make ends meet."
    "I'm trying to save but there just isn't much left after we pay bills."

    Next time you need to draw on the savings or EF, "That just about wiped us out. I hope we don't have another emergency".

    People will stop bothering you pretty soon.

    I do agree with the others that you consider setting savings goals, like for the camera. Don't just go shopping now, set aside an extra few bucks each week for it. Or for a new outfit, a weekend trip, anything. You can continue saving and not feel guilty about buying yourself things.
    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

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    But if you try sometimes you just might find
    You get what you need ~Rolling Stones

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    Registered User TigerGirl1226's Avatar
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    For myself, I have to have a goal. If you have paid off your debt, say that you want to have 6 months of living expenses or that you want to have X number of dollars in the bank and periodically re-evaluate your goals.

    Also, when you meet a goal, treat yourself. Dinner out or a pedicure or whatever makes you feel good.

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    Registered User chowder's Avatar
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    I find being frugal is knowing the difference between wants and needs.I can't see spending a dollar more on something than need be.I don't deprive myself,just am very careful when purchasing,and always think hard and long about wants.
    Oh and collecting money is a great hobby!

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