Wednesday, November 18, 2009

One habit I don’t want to break

If you’re reading this blog, you’re probably interested in personal finance and know what you’re supposed to be doing: saving money, avoiding debt, building your credit score. Of course, we all know that’s easier said than done.

I’ll be the first to admit that I always put savings last. There was always some bill that had to be paid or some emergency that would come up and dash whatever hope I had of saving money that month. In fact, when my friend asked me to join a Susu my first reaction was “Where am I going to find the money for that?!”

But somehow I incorporated the Susu contribution into my budget. The push I needed to save was knowing that my friends and family participating in the Susu with me were depending on me to come through. When I was just saving for myself, I always found a "better" use for that money.

Even though at first I was scared of the hit on my budget, participating in Our Susu has actually helped me use my money more wisely. I was able to save enough to pay for a kitchen renovation I’ve wanted for years without having to put it on a credit card. Making the regular contributions to the Susu was automatic and it became a routine. And after the Susu was over, I was so used to putting away $100 a week that I continued the habit. I’ve now got an emergency fund that will cover at least three months’ worth of bills. The security I feel knowing I have a backup is priceless and saving has now become a habit I don’t want to break.

Lissette S. user and Blog Contributor

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