Do you have a savings account?

[Junket]

And have you been depositing into it regularly?

Or do you have any CD's? Or stocks?

[carl1222]

I have mutual funds ... pretty much all in the money markets right now ... I am not in an appreciation mode, but a conservation mode. If it pays any better than my mattress, it's a good investment. I got out of equities last summer when it was obvious that panic was starting to set in and the Dow was still over 10,000!!! I'm beginning to think that it may be time to go back in and eventually profit on all the panic and stupidity. I have lots of CDs ... mostly Classical and 70s rock.

Carl.

[cewzp4]

I am a bit of a money hoarder... so I have a savings account and I put one of my two paychecks in it biweekly. I also have a CD that I plan on using to buy a house once I'm out of school. And I have an old fashioned piggy bank that I collect change and $1 bills in and every $100, I put it into the savings account. Just a college student trying to have a future. :-)

[Junket]

My girlfriend and I have a jar that we put all our change in, but we exchange it for cash so we can use it to do something cool with, or just go out somewhere nice for dinner.

[carl1222]

I am a bit of a money hoarder... so I have a savings account and I put one of my two paychecks in it biweekly. I also have a CD that I plan on using to buy a house once I'm out of school. And I have an old fashioned piggy bank that I collect change and $1 bills in and every $100, I put it into the savings account. Just a college student trying to have a future. :-)

You're a better man than I ... in college, I invested in beer and motorcycles!

[cewzp4]

You're a better man than I ... in college, I invested in beer and motorcycles!

I think you mean woman. :-) but i tend to use my other paycheck for fun stuff (when I have time for that). My mom raised me to tuck money away and pretend that it doesn't exist. It took me 18 years to finally listen to her, so I've now had 3 years of practice.

[cewzp4]

My girlfriend and I have a jar that we put all our change in, but we exchange it for cash so we can use it to do something cool with, or just go out somewhere nice for dinner.

Aw, that sounds like fun.

[carl1222]

My girlfriend and I have a jar that we put all our change in, but we exchange it for cash so we can use it to do something cool with, or just go out somewhere nice for dinner.

Yeah, I do the same, Fras ... I go to the supermarket and run it through their change counting machine ... I'd rather pay 8% than to count and roll pennies, nickels and dimes. I reserve the quarters for tolls and vending machines.

Carl.

[Aeradalia]

I have been slowly setting aside money in a savings account... would rather eat ramen noodles for a few months than take money from it... and so far such a mentality has helped.

I use the IRS as a 'bank account' as well.. have them withhold an additional amount, then at the end of the year I deposit that into the ongoing savings account.

Also, I'm forgetful as hell about cash... found $50 the other day I didn't even remember...

As far as investments are concerned... I would need to study up a bit more on that before I take a gamble on it.

[misombra]

i have some money in a 401k i got from my last job. and i have a change jar. i save change like a mf. i use it for when times are tough, you know?

but i definitely should save more. anyone wanna help?

[Aeradalia]

i have some money in a 401k i got from my last job. and i have a change jar. i save change like a mf. i use it for when times are tough, you know?

but i definitely should save more. anyone wanna help?

Tying paypal with a bank account seems to help me... I don't view paypal as 'real'.. so I tend to forget about the money I transfer to it.

You could give that a try?

[Illusional]

i have it all!! and they all took a lose due to the economic crisis.

raverboy

[Indignant]

i have it all!! and they all took a lose due to the economic crisis.

raverboy

same here, lost 2k in september and transferred all to money market as soon as it happened. so far just dumping everything into a savings account.

[Junket]

I use the IRS as a 'bank account' as well

Oh, yeah?

How much interest do you get on all that money they're borrowing from you?

[Aeradalia]

Oh, yeah?

How much interest do you get on all that money they're borrowing from you?

I look at is like this Frasbee... how much do I have when I'm not there to spend it? It's a fail safe in case I break down and do spend money from the savings account.

At the end of the year the money from the IRS goes into a real savings account to accrue interest.

It's just another strategy to save money from a different angle. I'm a firm believer in redundancy... especially when it involves money. If shit hits the fan and I have to empty my bank account... come the end of the year, I still have additional funds via the IRS to help me start over.