Friday, January 23, 2009

Confessions Of A Non Saver

OK here's the scoop. As of yesterday I still have a job. I heard through the rumor mill that more employees may  be let go today. I gave one of my co-workers my cell phone number. I told her to call me if anything happens in our department today. I took a vacation day so I could you know, relax. That's how it started out anyway. I now have a list of chores and errands that must be done today, because I am working at the DSJ all weekend long. I have to pick up two W2 forms, finish Melissa's taxes, grocery shop, get my haircut, pick up a present and ice cream and soda for my nephew's first birthday party tonight at seven. Yet here I sit, at the computer in my pj's and bathrobe. I digress.

Did I ever mention the strain of raising children on one income? I'm sure many of you face these challenges also. I get no financial help from anyone. NO ONE. Which means that every time I get a little money socked away, you can guarantee there will be some emergency or something with the kids that HAS to be taken care of. Which means I have no savings. Not only do I not have any savings, now I could lose my job.

Providing I actually am lucky enough to keep my job, saving money will be my number one goal for this year. The fear of losing your job will light a fire under your a$$ like nothing else will. I should be prepared. I have always heard that you should have enough money saved to pay three months of your bills in the event of an emergency or illness, or GETTING LAID OFF FROM YOUR JOB!!!! I always felt this was important, but I have never gotten around to it. I have no one to blame but myself. When I was getting pretty large tax refunds, I should have saved that money. But no, it's gone. I have used it to pay off  bills in the past, but never really saved any of it.

As God as my witless, I WILL begin saving money. Provided we don't end up living in a cardboard box under a bridge. Now that I have the DSJ, there is no reason for me NOT to start putting a little money away. Shame on me for not taking care of this sooner. I am expecting quite a decrease in my tax refund this year. Melissa turned seventeen last year, so I lose the thousand dollar tax credit for her. Also, I didn't pay in much tuition because I only took two college classes last year. I am losing money there. I also increased my income because of the second job. All of these factors will contribute to a substantial decrease in my refund. Barring any emergency, whatever money I get back, WILL BE PUT INTO SAVINGS. 

As much fun as it is to sit here and make declarations, chores and errands call. I'll keep you posted.


HW said...

"...I have used it to pay off bills in the past."
Don't be too hard on yourself. Paying off bills is actually a way of saving. You're still taking wise financial steps. Now those bills won't stand in the way of you saving this time around.
My aunt has started saving every $5bill she has in her wallet at the end of each day. She will not spend a $5 bill. In five weeks she has saved $600.00. I used to try to do that with ones but I'm trying with fives. It's amazing how you watch your purchases when you want to hold on to a specific bill.
We just found out there will be no raises or bonuses this year at my husband's office.
I'm sending good thoughts your way.

Astarte said...

I agree - I've read that paying off bills is what you're supposed to do first, anyway. To be honest, I only know two people who have any savings at all. It is almost IMPOSSIBLE. We have 529s for the kids, and a 401k for DH, but it seems like there's never anything extra to put away. And I'm right there with you as far as anything extra going right back out, because, surprise! It's a 3-paycheck month, so of course DH's windshield cracked the other day. I'm grateful that we have the 'spare' money to pay for such a thing, but it happens every. single. time.

Susiewearsthepants said...

Astarte-Isn't that the way it goes. I am determined to REALLY try hard this year. Thanks for sharing, it makes me feel better knowing I am not the only person struggling to save.
HW-I am trying that with change. I put all my change in a jar, maybe I can step it up a notch.

Farrell said...

it's pretty darn hard to save when you're a single mom raising two kids on one income. I mean, you do what you can.
I hear you girl.
I will pray that you do NOT get laid off!

Karen Deborah said...

paying off interest that occurs in bills is smart. We are living in scary times but you are a survivor! You will make it, your a mama tiger. If you loose your job you will find another. Making smarter choices and buckling down is something we are all looking at.

Laura said...

I started saving about 18 months ago! I got an increase at work and immediately put that money away - now its part of my monthly deductions and I dont feel it!

And it has saved my ass a few times! Kids and I had spending money when we went to see my brother, I have money at Christmas for presents or when an emergency hits!

It helps and is not a luxury but a necessity!

Will send truck loads of good thoughts for your job!