Friday, October 7, 2011

#31 - Have $_______ in Savings......

When I put this item on my 50 Things to Do list, I had a specific number in mind. My mama taught me that it's vulgar to discuss money, though, so I didn't reveal what my number WAS. (See, Mama, I did listen to a lot of some a few that one thing.)

You'll just have to trust me that I reached it. I could offer photographic proof if I took a screen shot of my account balance, but there's that vulgar thing again.

I've had this online savings account since 2004. I call it my orange account, and it just occurred to me as I was composing this post that I'll have to start calling it something else, given my intense antipathy for all things orange. No wonder I hate Halloween. And October.

When I opened the account, the economy was good and these online folks were paying much better interest rates than traditional banks. I set it up for an automatic transfer from my checking account, and that lets it build up pretty quickly. I just deduct that transfer at the beginning of the month just like the rest of the bills, and it's like I never had the money. (Do any of us actually have any MONEY anymore anyway? Isn't everything electronic?)

In the past few years, of course, the interest rate has declined, dwindling down to almost nothing. (Although I was surprised to find that in the seven years I've had this account, I've earned over $500 in interest alone.) I still like socking that money away, though, even though I don't have a specific thing I'm saving up for. I have occasionally withdrawn money from it, and then I start building it back up again. I have this silly idea about withdrawing money from savings, even an online account. I picture a little person sitting inside the computer, tsk-tsking me for taking what is MY OWN MONEY in the first place. When we bought the RV two years ago, we needed a substantial down payment, so I pretty much drained my online account for that. But I considered it a good use of the money, and I didn't regret it at all. Ironically, when it came down to draining it again this past summer to put money down on the marsh house, I balked.

And I think the reason I balked is that it was ON THIS LIST. Ever since I created the list and had a certain dollar amount in mind, I have been more reluctant than ever to take money out of it. And now that I've reached my goal, I don't think I will now go crazy and go spend it all. It's comforting to know it's there in case of a true emergency.

Like a much-needed trip to a tropical place.

1 comment:

DJan said...

I started adding money automatically from my checking into savings, and it's a good feeling to have it build up, like you said, like paying a monthly bill. It sure isn't gathering much in interest though. Congratulations on getting #31 behind you! :-)