In Theory

There are a lot of things that can be done in theory. The problem is getting them done in reality. Saving money is one of those things.

In theory I should be able to save all the loose change I have from shopping with only cash at the end of the week.

0.30 a trip, four weeks a month is $1.20 a month. Six month later that would add up to $7.20. Now that should be realistic for about anyone but it’s not. A total of $14.40 per year in savings is actually a small amount. What do you do if you need a larger amount? Say $3,000 or so in a short time?

How much do you need to save a month to have $3,000 at the end of the year (12 months)? $250 a month. This amount does not include interest earned on savings accounts. What can you do to get to that $250 a month savings, especially when you have a low income or keep facing unexpected expenses?

Over the next few weeks, OK over the next year I’ll be examining savings goals, theories and the reality of it all. Until next time hope you’re having a pleasant saving experience.