Friday, June 24, 2011

Starting Out With Savings... Part 5

This is our final post (for now) on our savings system. I wanted to make sure that I didn't give anyone the impression that this system would be easy or foolproof.

Moving to cash is difficult. We have lived a DINK lifestyle (double income, no kids) for two years. We are used to getting what we want when we want it. Not only that, but we drew our own money from our own paychecks. This meant that there was very little accountabilty to each other over what we spent or what we were aiming for. Basically as long as bills were paid, we could each spend whatever we wanted. On what ever we wanted... 

That's not a long-term solution. 

We are already realising the limiting nature that this system will have on our lifestyle. We will have to check if one of us has cash before going out to supper with mates after church. Buying a new album online might not be a spur of the moment purchase... 

The way I see it is this; living this way is freeing. The way we were living, we felt like we were living it up because we could have what ever we wanted. Except, we actually can't achieve our bigger financial goals like buying a house because we haven't saved any money. And if something goes wrong, if one of us looses our job, if our mortgage repayments change, if one of us gets injured or sick, we have a very temporary buffer. Then, we are done. 

By saving, budgeting and managing our money, we might actually have a shot at making our lives easier in a few years. Its short term pain (and really, is waiting a few weeks for new shoes really a pain? If it is, you need a reality check. Sorry, but that's the truth), for long term gain. 

Below of I have listed some sites that make being more thrifty a reality. I hope they are helpful to you.

Finally, a reminder from God's Word:

Keep your life free from love of money, and be content with what you have, for he has said, "I will never leave you nor forsake you." so we can confidently say,

   "The Lord is my helper;   I will not fear;what can man do to me?"
~ Hebrews 13:5-6

Helpful Resources
Money Saving Mom - check out her series on paying down 100% of their first home. Lots of other awesome money saving ideas.
Small Notebook - you know how sometimes you read something and go... "hey, that is really sensible. Why didn't I think of that?" This post helped put things in perspective, but there is oodles of interesting and helpful, simple stuff on her site. 
Simple Mom - lots of ways to save, reflect and minimise our impact on the earth.

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