Comments on: We Never See the Money, So We Don’t Miss It

By: Carnival of Money Stories #65

Carnival of Money Stories #65 — Thu, 01 Jan 1970 00:00:00 +0000

[...] presents We Never See the Money, So We Don’t Miss It posted at Prime Time [...]

By: Jason @ One Money Design

Jason @ One Money Design — Thu, 01 Jan 1970 00:00:00 +0000

This is great encouragement. I agree the best kind of savings is the kind you don’t see. We do the direct deposit from my payroll check into savings and get it out of our hands immediately. However, I still find some months require more money than others (which require a dip into savings). I suppose we sharpen our budgeting, but overall, we have found the auto deposit to provide the most success in building our emergency savings plan.

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

@Anthony – That’s great, man. Yeah, I’m at least double that number myself.

By: Anthony

Anthony — Thu, 01 Jan 1970 00:00:00 +0000

I’m currently saving 8% pre-tax into my 401(k) and 14% post-tax into an online savings.

I’m nowhere near the 401(k) contribution limit, so that’s a goal for me next year. I am currently building my emergency fund in the online savings account. Once that’s done, those “freed” up dollars will go towards a Roth IRA.

I have a long way to go on both fronts!

Sadly, even though Fousts were dedicated and saved up a bunch, $800k would fall WAY short of my retirement goal.

By: Moneyedup

Moneyedup — Thu, 01 Jan 1970 00:00:00 +0000

Saving 35% if your income is no small feat, and I see what you are saying about automated saving. I like the programs where you can save a small amount every time you use your debit card. It makes you think twice about using your debit card and when you do you can have around $5 transferred to your savings account. It really adds up!

By: Kris

Kris — Thu, 01 Jan 1970 00:00:00 +0000

Wow, amazing feat! Sadly, if I saved 35% of my income I’d never see it either – I’d have no home, no no car, and I’d be in jail