My new idea for saving money

That's a great idea as long as you don't cheat and take it out of the envelope early! I hope it works for you. I know how easy it is to use that darn debit card, and half the time I will use that instead of the cash I have...how dumb is that one. I tend to want to keep the cash instead.

hi dorannmwin. good luck in your new endeavor. hopefully, you are able to save enough funds by this method. i keep the funds i earn online in my paypal account. i just do a bank withdrawal once a year, usually during december, to get the funds i've earned. last year, i didn't make any withdrawal as i do not see the need for it. i'm planning to use the money i've earned online as additional savings for my emergency fund account, i'm trying to build up an emergency fund account, basically six month's worth of my monthly salary. the amount i have saved so far is almost half my target so by year-end, i think that i can achieve this. good luck to both of us dorannmwin.

This is a great idea as somepeople do better saving when the money is actually in their hand and they enjoy counting it. I use to save money when I was working full time by saving coins in my office. I had different tins for different denominations. I used this money every Christmas. It always bought a turkey, ham, chicken and beef and actually paid for Christmas dinner. This was no sweat for me as I just dropped in a few coins daily but it certainly mounted up and I felt so good at Christmas time. Another saving I did was to pay a little extrqa on my monthly mortgage and this extra covered the payment for December so then I had the extra money to buy gifts. We just have to be creative and save

You have some great ideas, that is for sure. I try to save up what goes into my paypal account too, but leaving it there for awhile, but I always end up using it for bills or something that i need, so then I have to start over again. It takes a very long time for my paypal account to mount up, as i don't earn all that much, but I am glad that I do earn something and I am able to save up a little bit here and there. It would take me a long time to save $600 in my paypal account. probably a few years, but I am on a fixed income as well, so what i make online is just extra anyway, but it does come in handy when I need it. i hope that someday, I can make more money online than I make now, but in the meantime, i am just happy that I make anything at all. Take care, and have a very good day.

that was good as good as like having piggy bank to buy present for your self even for your kids

First off I didn't know there was a Paypal debit card cool LOL. Second. I'm also looking for ways to save money. With three children now Christmas can be expensive and I want my children to never feel disappointed in Christmas like I did as a child. I'm not saying they should have tons and tons of stuff. But there are at the age where Santa Claus is real and the Magic is there and that doesn't last long so I want to hold on to that as long as possible. That means that Santa should at least bring them one of the main things that they asked for. This year both my son and daughter wanted Bulls eye the horse from the toy story movie. Which I found at toys r us. but the bad news is they were $60 each. eep. But we got them because they talked about those horses everyday. So this year I decided making extra money for Christmas shopping was going to be a priority. So I joined swagbucks, which I've made $40 so far in Amazon.ca gift cards, but I'm going to use some of that to buy myself a movie since my husband still doesn't believe me that I can get free stuff. God love him haha. So I will have a little left over from that, and I'm almost got enough points for another $5 card already so tomorrow morning I imagine I'll be sending for my first one for April. I've joined here and would like to see where that can get me, though right now it seems to be slow going. Though I've only been a member for about 4 days, I still only have about 20 cents to call my own. I've also hidden a box deep in my closet that only I know about. I've decided to put any money I find in there. Whether it's money that I find laying around while cleaning, money that I find while out for a walk, or money I have left in my pocket at the end of the day. I figure any little bit will help. And each month I'm going to try to beat my total from the previous month. So for March I made $40 so for April my goal is at least $41. I also have a question about this site, I can't remember does it pay through paypal?

good for you if you can do it.

I know birthdays pop up all year around. It would be lovely to have a pot of saved money to dip into to buy the necessary presents. I know it would be excellent to buy the gifts without any feelings of guilt. I think your saving idea is excellent and I wish you lots of luck with it. On a debit card it is way too easy to spend the money. The envelope will be a source of joy for you so that is fantastic.

That's a great idea dorannmwin..! i have myself thought many times to keep online earnings separate ..but for Indians its not possible as we are not allowed to keep money in our paypal accounts, our balance is automatically withdrawn in our bank accounts as soon as we receive money from any site, so that money gets merged in the account with other money. I myself have a great longing for MY OWN MONEY...though i don't have anything lacking from hubby's side...but still that satisfaction is different...isn't it?

A long time ago, I did something unusual. Every time I bought anything, I never used change. If something cost 1.29 I gave them $2.00 and put the change away. Even if something cost 5.01 I still gave them $6.00 and put the .99 away. I had pretty much money saved in a couple months.

That isn't very much money over the course of a year--not if you're on several sites. However, it sounds like this practice may help to get you what it is that you want. Granted, you will be losing out on earning a little additional money that you might earn if you were to simply transfer the money into your savings account or, better yet, certificate of deposit.

I always say that no matter how diffucult it is for me to make ends meet, I must have a little something for what I call "my luxuries". The last time I went to the super, I saw nice and unexpensive pot holders. My youngest daughter does not have any (she burned the ones she had). So I`m taking them as a present for her the next time I go to her house for lunch. I hope it will be soon, because she has a bigger washing machine and I want to wash there my summer blanket. THat will be another saving as dry cleaners are expensive.

I have had more or less the same idea! But instead of an envelope, I put mine in a separate savings account. I don't get to touch this money unless of course it's absolutely necessary. I've had this account just a little over a year before I started here in myLot. I already have a significant amount in there, even though I've dipped into it a couple of times already.

Hey dorannwin, Indeed that's definetly interesting to hear and follow. But from my point of view you are not saving money by keeping money in envelope but restricting your expenses in an attempt to suprise your kids with gifts. But do remember that in the event of an emergency restrain yourself from using that money first. we mostly forget an old saying "money saved is same as money earned". How much ever you earn be prudent when you are spending and your goals should be SMART. I want to conclude by wishing that by following your approach you will always surprise your kids.

I saw a neat idea for socking away money that nets you close to $1300 or more a year. Starting with the first week in January, you put away $1. The second week, $2. Each additional week you put away an additional dollar, so now at the first week in March I think I'm putting away $9. Of course it's still a small amount, I'll get back to you when it's closer to $52 lol. That's actually a good idea to keep cash in an envelope, I've done that before for specific things. It's the only way to make sure nobody else knows how much you spent and on what. I bought a gift for my husband once from a cell kiosk at the mall, and since I forgot to use cash, he leisurely brought it up later and asked me what I bought at the mall. I replied that I didn't buy anything and he showed me the transaction - after which I felt incredibly stupid and emailed him back and said 'your birthday is tomorrow, hello' LOL!

Hmmm, cash is okay but it's easy to pull it out on your dresser if you like to whenever you want to buy something. I suggest you can save it in a bank and have it saved not using and atm card but a passbook. I think it can be a pain going to the bank just to get the money, so it's a bit of a forced savings. I don't know but that is what I had in mind.

I admire your idea for saving money. I wish you great success with this and that it all works out as yu are planning. I hope that no obstacles bar your way of realizing your plan to the fullest. It seems so much easier to spend than to save. Good luck to you and happy saving.

That is a great idea. I have the paypal debit card, but sadly they charge a monthly fee of $.4.95 a month. I keep that money in case I want to buy myself a little something or need things for my online buisness which I am hoping to launch by the middle of next month. I also save up my change and put it into my savings account (you will be surprised how quickly it adds up especially the quarters and pennies). I wish you all the best.

If money is kept in a envelop, it wont stay with me long since i may get it out to buy something. Currently i always try to deposit money to my saving account and for sure it is not easy to get currency out to spend at all. It is the way i used from last year and right now i am happy to see my saving money increased regularly.

Hi,there.It's a good idea to save money like that.I also have a habit to save money every month.Our salary is given to us on every 20th in a month and each time I receive the money I will put about 25% in another bank account.Though that's not a big amount of money,I have some money left till now.Whenever needed,I don't have to borrow money from others at least.Happy day!