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Well, the insurance office I work at received my renewal for my auto insurance. Because I turned 25 and because I'm no longer with my ex-husband, who was in an accident seven years ago that increased our insurance, my car insurance has gone from $1165 to $993, and with my discount for working at the office, it is $869 -- a savings of $296.00! :yippee:

Now, I SHOULD have had that money all set aside for me come April. However, when I went to the bank to set up a Savings fund for it that I couldn't touch, the banker convinced me it was better to open one that I could get into instead -- and of course, now all the money that I'd saved for my car insurance is gone. :S So now two things have to happen:

1. I have to stop listening to that banker.
2. I have to start saving for my car insurance.

I get paid three times between now and the date it's due. In order to pay off my car insurance completely, I have to save $290.00 from each pay cheque. If I make $615.00 per pay cheque, that means that I'll have $975.00 to live off between now and April 8th. So from that has to come:

~ April's rent -- $342.00
~ March's groceriesl -- $80.00
~ March's gas -- $80.00
~ March's electric bill -- $50.00
~ March's pet insurance bill -- $23.00
~ March's long distance phone bill -- $7.00
~ March's gym membership fees -- $48.00

Total: $630.00. Those are the "Cannot NOT be paid" expenses. That leaves me with $345.00 for the whole month. Any clothes, extra gas, entertainment spending, extra groceries, wine or liquor, etc. that I want to get this month has to come out of that. It SOUNDS like it should be so simple. :scratch: So why am I so nervous?! :p
 

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Naderbug- I have always thought that you do such a great job at serving healthy meals at low cost.And the meals are creative. I think you can do it!
 

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Naderbug----find another banker. If your banker can't listen to what you need to do to meet your financial goals, then he or she does not have your best interest at heart.
 

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I wish I had $345 a month after fixed expenses :). I think you are doing really well. I wish you luck, I think it's great that you are working so hard to pay it off in one lump sum, it was smart of you to think ahead of time to set up a savings account for it. I hope the bank listens to you this time around :).
 

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23$ a month for pet insurance?? I've never heard of this and is it really worth it? I just have a saveings account for that sort of thing. IF you saved 23 a month would that be more than enough to cover what you need?
 

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Discussion Starter #6
23$ a month for pet insurance?? I've never heard of this and is it really worth it? I just have a saveings account for that sort of thing. IF you saved 23 a month would that be more than enough to cover what you need?
Well, my cat is overweight/obese, and I am trying very hard to keep him from being diabetic. He's every bit my baby, and I want to take care of him as best I can. So to me, the pet insurance is a great value.

When he has to visit the vet for anything but a weigh-in, they charge you. So I claim it against his insurance and they pay me back 70% (I think) of my vet bills, so long as the condition he's being treated for is not something to do with a condition he had prior to me getting the insurance for him. They don't pay for his food, but they do pay for any medication, overnight stays, surgery, time off I have to take to take care of him, etc. etc. etc. I think it's valuable, at least to me. And he certainly seems to enjoy being healthy and handsome. :cat:
 

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I too wish we had that much after expenses ... you are doing so well and you will get through this! I am hooting for ya! lol :)
 

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yooooouuuuu can doooooo it!!
 

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I'm sure you can do it :) You spend less on food than I ever could. I was just wondering why you touched savings? Even though mine is "open" for me to withdraw at anytime I NEVER do. To me having something easily accessible at a time of NEED is important but then again I guess it comes down to how strong you think your willpower would be. How about having some "bounce back" money in your regular checking account each month? That way you would maybe be less tempted to spend it? I also keep some money in a CD which would definitely make it harder to touch. I remember I also used to have trouble saving a definite amount until I deposited it automatically and then some more if I saw fit as it made me like seeing the money grow more than using it. Why not try online banking such as ing? That would make it harder than a traditional one at a bank to touch.
 

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.

I've no doubt you can do it! Go ahead and set aside some play money out of that extra $345, and try to use only that for any incidentals that come up. If you tell yourself you have only $50 (or whatever) to use to eat out or see a movie or whatever, then you won't be as tempted to use more. Just make yourself believe that's ALL you have! That usually works for me, at least.

Thanks for the info about pet insurance. We wondered a few years ago if we should get that on our cats, but it seemed really expensive for 2 cats who had no health problems. However, having watched a friend spend a small fortune on her geriatric cats, I'm starting to see the wisdon of it. Anyway, it's nice to read of someone's actual experience with it.
 

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I could spent $345/month on groceries for my family of six people & six pets. You can definitely do it :thumbsup:
 

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You can do it!!
 

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I think you have a great plan. My sister has two cats- one like yours with weight issues and the other has asthma. She carries pet insurance now- one trip to the vets for her older cat cost her over $1000 for emergency care. Now she doesn't have those big expenses.
 

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Well at least you have a plan and if you stick to the plan you should be fine.
 

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I know you like a good challenge Nada, you can do this. :tay: Will be neat to see how much of that $$ you don't spend.

How old is your cat? Mine will be 13 at the end of this month & is overweight but he has lost a few lbs. Last check up they were thrilled that he lost 3 lbs over the course of a year. Mine too is a very handsome boy.;)
 

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Discussion Starter #16
I'm sure you can do it :) You spend less on food than I ever could. I was just wondering why you touched savings? Even though mine is "open" for me to withdraw at anytime I NEVER do. To me having something easily accessible at a time of NEED is important but then again I guess it comes down to how strong you think your willpower would be.
And that's the problem -- when it comes to certain things, like sales at second hand places, or buying gifts for others, I have absolutely no willpower at all! :p I had an account before that was unaccessible to me for saving for my car insurance and it was great -- I had it all accounted for come the next year. But last year, the banker convinced me to use this other account, and I spent most of the money. :shake: So I won't be doing that again. I should know myself better by now. :grrr:
 

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Nada, I know you can do it.

Dont let the banker talk you into something you dont want again - if he starts up again use this as an example! LOL Just go about living your life minus the extra shopping and make a game of it. How far/long can you go w/o something? Or ask yourself if it can wait until next month? Think of the great deal you're getting on insurance - its only a month of serious structure and to me Id give up non essential spending to be able to pay what you pay for insurance.

I pay about $2100/yr. When I turned 25 they shot my rate up! No accidents, over 10 yrs of driving experience, Ive been with same company ever since I started driving and I get no breaks though I live at home with my dad and still am under his policy with mega discounts - one perk of keeping an eye on my old paw :D but if I ever move, I will get mega dinged, its only going to go UP again :( Not fair! :drama:

Believe me gf, YOU CAN DO IT!!!!
 

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looks like you're on the right track.

I suggest you also open an online bank acct with any of the reputable banks. you not only get higher interest rates compared to any local brick and mortar bank, but also it takes approx 3 business days (some banks may take longer) for money transfer from the online bank to your local bank acct so it is not easily accessible to you. when you have the itch to shop, you'll think twice about it and hopefully, after 3 days when the money becomes available, you have changed your mind or the urge to shop has waned. If you have at least $250 to open an acct, you can even get $25 sign-up bonus off the bat so that should motivate you to save more.

Good luck!
 
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