But do you walk the walk?

Screen shot 2015-03-01 at 11.29.58 AM

I figure if I’m going to sit here and extol the virtues of saving a large portion of your paycheck, I should probably show that I do so myself. So this is the first of a monthly post- yup, I saved 60% of my earnings in February.

How?

In short, by making it a priority. I pay my necessities (rent, food, bills), and give myself $40 a week for fun stuff, like meals at restaurants. Other than that, I get cash out of my checking account as quickly as I can, because if it’s not there I can’t spend it.

Why?

This is a more relevant question, I think. It’s really hard to save a large quantity of money (or put it towards loans, or whatever) if you don’t have a good reason for it. For me, it’s the fact that I hate feeling like my paycheck controls me. By saving way more than most people, I have the opportunity to get to a point, someday, where I don’t need a paycheck.

Even in the short term, a large savings percentage allows you to afford to take a long vacation between jobs, or just not to freak out when you have a large unexpected expense come up. Savings gives you freedom, and especially for my generation, coming of age during an economic downtown, that freedom is invaluable.

Frugality isn’t about depriving yourself. It’s about delayed gratification, and giving yourself a way bigger gift down the road.

Advertisements

2 thoughts on “But do you walk the walk?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s