How much money do you have in savings?
By Scott
@callarse1 (4783)
United States
January 9, 2009 12:06am CST
I was just reviewing my savings account for December interest added to the acount. I was surprised at how much money I have in the account over four thousand USD. 
--I've been saving since July 2007. I put my tax refund from 2007 into my savings account, I put my stimulus check in my savings account, too. I try to put about 100 USD per two weeks (I get paid biweekly).
I'm saving up for a brand new car. I want to pay for it in three or so payments. So I can just be done with it. Is that bad? Some people say I'm crazy because I want to do that. I just cannot afford a monthly car payment--so while I can save, save, save...I want to pay for it in cash. Also, it is good for emergencies, right? Soon taxes for 2008 will need to be done & again I'll put my refund in my savings---
Do you have savings account? If so, how much money do you have in your account? Tell us all about what you're saving for. Cheers & happy myLotting!
Pablo
--I've been saving since July 2007. I put my tax refund from 2007 into my savings account, I put my stimulus check in my savings account, too. I try to put about 100 USD per two weeks (I get paid biweekly).
I'm saving up for a brand new car. I want to pay for it in three or so payments. So I can just be done with it. Is that bad? Some people say I'm crazy because I want to do that. I just cannot afford a monthly car payment--so while I can save, save, save...I want to pay for it in cash. Also, it is good for emergencies, right? Soon taxes for 2008 will need to be done & again I'll put my refund in my savings---
Do you have savings account? If so, how much money do you have in your account? Tell us all about what you're saving for. Cheers & happy myLotting!
Pablo1 person likes this
12 responses
@lilybug (21107)
• United States
15 Jan 09
I think it is great that you were able to save up that much money. I wish I had saved some of my income taxes from last year. I am terrible about saving money. I once managed to save up a few thousand dollars for a down payment on a car. I don't have much of anything in savings right now. I need to start working on that.
1 person likes this
@callarse1 (4783)
• United States
16 Jan 09
Hey! The best way to do is to save at least 10% or more from your paycheck. If you realize that you "cannot" spend that money it makes it a lot easier. I usually save about 100 biweekly as that's how often I get paid. I just minus it from my check...but I imagine it could be hard. Cheers.
Pablo
@ersmommy1 (12588)
• United States
15 Jan 09
Me? Not enough. Maybe enough to get through a month if we had trouble. With a new baby and my daughter, for a family of 4 just not enough.
1 person likes this
@callarse1 (4783)
• United States
16 Jan 09
Wow...yea I think it would be hard for a new family! Do you save a lot of money each week or for each paycheck?
Pablo
@Justme2007 (1848)
• United States
9 Jan 09
You are doing a good job on saving and you are not crazy for wanting to pay cash for your car thats what I did .
1 person likes this
@callarse1 (4783)
• United States
16 Jan 09
Really?! That's cool. Did you buy a used or new car? Let me know
Cheers
Pablo
@highflyingxangel (9225)
• United States
10 Jan 09
I don't have an actual savings account so I've really got nothing in savings. I do have money saved however but it's not sitting in a bank or anything. I know that I really should set up a savings account so I can gain some interest but I'm not sure how I'd want to go about doing that.
I thought about opening up an online savings account. Some of the places online have pretty nice interest rates. Still not sure but I definitely know that I should do it and probably should do it soon.
1 person likes this
@callarse1 (4783)
• United States
11 Jan 09
Hey feel free to send a private message. My savings is an online account however they do have offices (just not in my area), address, and customer service line. The interest rate is VERY good. My previous savings at a local bank was VERY little such as 0.02% interest--less than half of one percent! I can let you know my experience about this company. They offer much better interest.
Cheers!
@taface412 (3175)
• United States
10 Jan 09
I am still clearing off debts...so when this is done I plan to sock away approximately what I pay now toeards my debts into a savings or roth IRA. I do have a 401k and plan to keep it the way it is regardless of how the economy is...I am still young and will recover. So I am partially to my goal of building a solid savings plan.
So in a couple of years I will be able to save much more. As for my tax refund...it goes to catching up with bills and clearing off one debt towards the goal.
Congrats on your ability to sock the $$$ away.
1 person likes this
@callarse1 (4783)
• United States
11 Jan 09
Wow, do you have a lot of accounts in collections or something? Or are you talking about other accounts? I love saving the money away & I have 401k as well, too. Hopefully I can save lots of money. Ciao.
Pablo
@Polly289 (269)
• New Zealand
9 Jan 09
Good on ya. I do have a savings account and I know it has a lot of zero's. Quite a few, in fact, and very little else. Havn't been able to save. Too many children. My 21 year old did start up accounts for his younger sibs and myself but I haven't looked at that. Going to leave it to gain interest or something.
And Cheers to yourself
@callarse1 (4783)
• United States
11 Jan 09
Wow...so how much approximately do you have if I may ask? Keep up with the savings because every little bit helps!
Pablo
@Thoroughrob (11742)
• United States
9 Jan 09
Keep your eyes open with all the places closing, you may be able to get a real good deal!! I do not have much. I can't with my son's SSI. We cannot have anything. It is a pain. Whe even had to spend our retirement, but we did not have enough to make it too much of an inconvenience.
1 person likes this
@callarse1 (4783)
• United States
11 Jan 09
Wow! You had to spend all your money? Why? That's too bad, I'm sorry! Does your son have a disability or something? I guess so. Take care and happy myLotting!
Pablo
@srganesh (6340)
• India
9 Jan 09
I have only Rs.3152/- in my savings account.Being a businessman I normally grab any money for investing and so I don't see my savings grow alone.Also,I don't see my savings for future plans.Rather I invest periodically for my dreams.Like investing in gold is my trend of savings.
1 person likes this
@callarse1 (4783)
• United States
9 Jan 09
Wow, that's good that you invest. I do investing, too. It's always good to have diverse options so people can make money, right?
Pablo
@winieann (234)
• Philippines
9 Jan 09
wow! congratulations pablo. Yes saving is good and paying in cash is much better that using a credit card over it. The interest rates will kill you. An yup i do agree with you cash is good for emergencies. For my 2007 savings, i don't have that much. I have a debit card but i only use it for the reasons that i don't have to hold cash. I am planning and still planing to open an account, i am just too lazy with the process and all. Well cheers to 2009!
@callarse1 (4783)
• United States
9 Jan 09
Currently my savings account gives my 2.5% interest! It's pretty good and I've earned over 80 USD for 2008 in interest. Yes, I suggest to open a savings account if you can. They are very good.
Pablo
@chance2691 (566)
• Philippines
9 Jan 09
Our family has a system that once a child is born, we need to make a bank account for him/her as soon as possible. We're like three sibs, and that's pretty much it.
My mom's saving's too big, she doesn't let anyone else know how much it really is. All we know is that it's stashed in four bank accounts.
My dad's got like, around twenty dollars in his. That's more or less Php1000.
I'm the 'poorest' among us three. I have less than five hundred dollars in mine--twenty-four thousand pesos. My older brother's the richest because he's twenty-three and already has a job. Teehee.
1 person likes this
@callarse1 (4783)
• United States
11 Jan 09
My brother has done that with his children for saving. I opened my first savings account with mum during high school. She had to co-sign because I was under eighteen..I had to close the account because the original bank was charging fees because of not having the "minimum" amount of the account. It was crazy!
Pablo
@cramino2389 (18)
• Philippines
9 Jan 09
WEll ASK OF NOW NONE BUT I OPEN MY BANK ACCOUNT FOR MY MULTI NATIONAL COMAPANY...
I THINK I MAKE IT FROM RUG TO RICHES ....
MEANS FROM POOREST TO RICHEST
@callarse1 (4783)
• United States
11 Jan 09
Uh,I know people who have much more savings that than. So, tell me how much money do you have saved?
Pablo
