How can we save money and NOT touch it?
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Okay so due to some bills that came up me and my husband really want to pay them off and save money without doing debt consolidation, a loan or anything that may put us farther in the hole. I worked out our monthly financing from Sept 1- Dec 1, and have made it to where we pay off 1 bill a month and still have money left over (we are only about 2,500 in the hole and we pull in 2,800 to 3,000 a month). I have worked it out to where we will put money into savings and on Dec 1 we will have 1,850 in savings, doesn't sound like a lot but it is for us seeing as though come the last 4 days before pay day we are normally BROKE due to frivolous spending (games, movies,eating out, JUNK). We are both sick of this and know that we make more then enough (we are military so housing, water, electricity are paid for) to not be in this state. So we want to save the money but we are both afraid that the urge to spend it just because we have it, we don't want to open an account that can't be touched, we just want to put it into our savings account that we already have and trust ourselves. Do you have any advice on how to do this and NOT spend the money?
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Answer:
Open a money market account that both you have to sign to with draw.
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Other answers
Dec 1 we will have 1,850 in savings, doesn't sound
sathish
Open a Mutual fund account with Fidelity, Charles Schwab or some other investment house. Make sure it is only No Load Funds. These accounts require a notice to sell and then three days for the transaction to clear. This will make you think twice about spending it. Most accounts can be opened with 250 and deposits of 50 a month.
Ariaread
put in the bank
F1 Luver for life!!!!!!!!!!!!
Try to put it in a saving account at a bank that is not close to your home and have no access meaning no passbook or ATM card only allow in person withdrawals at bank. If you had more time like three months you can go to a bank that offer CD's and keep it there and earn okay interest but usually it will take 5000 USD.
Open a joint account with automatic deposits of your paychecks and require BOTH signatures be required to withdraw. STOP SPENDING
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