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Originally Posted by Russell
That's absolutely true.
If you save $1 a day that adds up to $365 a year which could easily pay for a unexpected $300 car repair bill. Can you save $1 a day ? maybe $2 a day ? add a little bit of compounding interest + $25 from INGdirect.com and you just built yourself a small emergency fund.
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Russell has a good point. We all splurge silently at some point during the day. Whether it's that extra large cup o joe that you only drink half of... that extra donut or bagel you think you'll eat but wind up leaving more than half behind... perhaps it's the extra impulse items you buy at the supermarket which wind up expiring on your shelf (I still have Hamburger Helper boxes from my single days LOL).
There's also habit cutting. Even if you cut back on habits (instead of smoking a pack of cigarettes a day, trim it to three packs a week etc) you can manage a few bucks here and there. Where there's a will there's a way... bankruptcy may seem a good thing but it takes YEARS to get your credit back to normal (trust me).