Tuesday, March 30, 2010

A Susu Saver with a Costco Problem

Note from OurSusu.com: Throughout March the Our Susu blog will feature entries from new and experienced Susu users participating in our Emergency Fund Susu.

My husband joined and so I had to join, too. Other than that, I didn’t have a real reason for joining the Susu. You see, I consider myself to be pretty financially savvy. I know where my money goes; I keep my credit in check; I have the emergency, college and retirement savings funds, the life insurance and other investments all set up; and I’m not too out of control with my spending. So, I really wondered what was the point of doing this.

Then one day, I found my answer in the strangest of places: The Costco parking lot. I went there to buy Pull-Ups for my son and $300 and a cart full of stuff I didn’t need later, I realized that I didn’t need to save for an emergency… I needed to save for Costco. And the Susu is the perfect vehicle. I barely noticed the money coming out of my bank account each week, and I stayed out of Costco the whole time. Now I have a nice little wad of cash to drop on that case of canned tomatoes, 10-pack of toothbrushes, some new mats for my car and maybe a new set of knives. Oh, and yes, I’ll get some Pull-Ups, too. Added bonus -- my husband can't say a thing. He's the blogger from a couple of weeks ago whose "emergency" was needing a new flat screen or a phone. Well, he has his new phone. Maybe with our next Susu he'll get the TV? My next Susu will be for Target. I’m going to need to increase my savings for that one.

If you think a Susu is not for you because you already have your financial house in order, think again. You probably have a Costco issue, too.


Emergency Costco Fund Susu Member

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Wednesday, March 24, 2010

Small Businesses Need Big Savings

Note from OurSusu.com: This month the Our Susu blog will feature entries from new and experienced Susu users participating in our Emergency Fund Susu.

Any business needs an emergency fund. A small business, really small – army of one small, probably needs two or three. After all, I’m too tiny for a bailout and too honest for a good Ponzi scheme. So, I’m all about saving and budgets.

The easiest way for me to save is to keep my money busy. Idle dollars are like idle hands – never quite know what they’ll get into. For that reason, all my dollars have jobs. This dollar works on investing. Another works on paying the mortgage. Some lucky dollar is fully committed to a trip to Puerto Rico. This plan has always served me well, but when I started my company, I got thrown off a bit.

When you run your own business, there will be months when you’re like Midas. And, there will be months when you’re like Mo’ – as in I need mo’ clients, mo’ billable hours, mo’ money. It’s so important to put money away during the Midas months. This is why the Emergency Fund Susu is so perfect. March thru October are my busiest months. In addition to my usual savings, I have added the Susu. It gives me one more bank to break in case of emergency.

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Tuesday, March 9, 2010

Our Susu Helps Men Do Men Stuff

Note from OurSusu.com: Throughout March the Our Susu blog will feature entries from new and experienced Susu users participating in our Emergency Fund Susu.

I guess I should be thankful. I’m in a recession proof industry; I make a reasonable amount of money, and my wife does most of the long range financial planning. So you’re probably asking, “Why do you need to Susu?” The answer is I don’t. In fact, after I completed the registration etc. I actually forgot about the whole process until I got paid. Let me tell you, there is nothing better than when money magically appears in your account.

No more arguing about whether I can buy a bigger big screen TV or if I actually “need” a new phone. I’M FREE! Our Susu is letting me live the way a man was intended to live. So if my wife is reading this then…Yes, you’ll be seeing another large piece of electronics. No, there isn’t anything you can do about it, and yes, I realize I’ll be sleeping in the guest room for a while, but at least I’ll have a new toy to occupy my time.

Emergency Fund Susu Member

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Tuesday, March 2, 2010

Why it Pays to have an Emergency Fund… A Real-Life Example

Personal finance gurus all have their own style and top tips they share with their readers and listeners. Suze Orman offers lessons to “control your destiny” while Dave Ramsey asks people to attack their debt with “gazelle-like intensity.” The one thing Orman, Ramsey and many others have in common: preaching the importance of an emergency fund. Thanks to OurSusu.com, I have built up my emergency fund. A recent car accident proved to me how much easier my life is when I have money in the bank to pay for life’s unexpected events.

Ten years ago, I was just out of college and definitely not thinking about savings. Being in a fender-bender at that time was devastating financially. I didn’t have the money to pay for the deductible so I had to pay for the repairs with a credit card. Since I was just starting out in life, I didn’t even have a credit card with a high enough balance to pay for it so I used two credit cards. You can see how easily things can spiral out of control.

Fast forward ten years. I’ve paid down my debt and have an emergency fund. When I was rear-ended by a careless driver, I was upset about my car but not stressed about how I would pay for the repairs. Since I had an emergency fund, the accident turned out to be a minor inconvenience. It’s tempting to raid the emergency fund for that new plasma screen TV or a vacation I supposedly NEED, but the financial security I feel from having the money I need if a real emergency happens keeps me from giving in to temptation.

If you have trouble saving, I encourage you to use OurSusu.com to set up an emergency fund Susu. You never know when an emergency will happen, but at least you’ll have the money to pay for it. One less thing to be stressed out about is truly priceless.

Emergency Fund Susu Member

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