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Savings Update

May 24th, 2007 at 08:23 pm

I sent the weekly $10 off to ING today, bringing the total in that account to a whopping $62.58. Slow as molasses, but that's in keeping with our decision to focus on debt reduction. Right now the $10 a week is more to keep in the savings habit. I would still like to send $100 a month, but I just am torn because that $100 a month would do more good on a 7.9% credit card than it would earn in a 4 point whatever interst rate ING is offering. And I know Mom will loan us up to $500 interest free in an emergency, but I still don't like seeing that account below $500. It has been nice to be able to use it and rebuild it these last couple of times. I'm sure I'll get over it, though. Having the debt gone is just more important to me, and to DH.

2 Responses to “Savings Update”

  1. Amber Says:

    Every litle bit helps, I agree paying that cc debt is more important. Don't worry you will have that saving account up in no time with $10 a week

  2. Aleta Says:

    Much of this is psychological. I remember when I took off my long-distance carrier how insecure I felt about not having that service available. I got over it because I have other options if I want ( cheap calling cards). When my dog passed away, I felt very insecure not only because of missing him but because he was a good watch dog. Anytime we make a change, I think that it's normal to feel insecure. As you said, if something comes up, your Mom would help out. Getting rid of debt is the smartest money earner that you can do for yourself. You're doing great. It takes a while to build up the savings. I would add small amounts from any savings that I received from grocery shopping. You can find ways.

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