My husband and i want to save money after christmas. Any plans or ideas on how to get started? What works for you? We have two children.
ScoobyDoo: it is all about setting a plan, first set a goal of how much you want to save each payperiod, week, or month. this money will go into a savings account and you will not touch it, lets say you want to save 100 per month, now you put this on paper and go about finding where you can save, if you normally buy coffee in the morning at the drive thru and spend 3.00 per day, 3.00 x 20 days is 60.00 you are over half way there, make a lifestyle change, make coffee and breakfast at home and save well over 100 per month instead of buying a breakfast sandwich or donut with that coffee. at 5.00 per day there is your 100 in 20 working days. so lets go further, eliminate any eating out, brown bag lunch, no junk food at the grocery store, buy real package of chicken and not chicken nuggets, or convenience foods, by doing a little more work ( get out the crockpot) you can probably save 200 a month by adjusting your eating habits and will be healthier for the kids too.
Are you asking about how to exercise self-discipline?
Or are you asking about what type of account to use/where to invest the money?
What is the purpose of the savings? Emergency cash? Kids' college? House purchase or remodel?
Sorry…I can't tell exactly what you're asking.
Get started BEFORE Christmas, that could be one "gift" you could start teaching your children, how to save for the future.
A written budget fixes all of this problem.