Hello and Help?

[photo]

As an example, from reading on this site today, I decided to open an account with ING. Money in my current savings account is only a few clicks away from being in my checking account (and often ends up there). With ING I will have to wait several days at least. No more instant gratification.

Transfers between ING checking and savings are direct, with no waiting period.

However, if you invest with SmartyPig, you are not allowed any withdrawals, unless you close the account. For people having trouble keeping their hands off their savings, SmartyPig is an excellent vehicle.

[Angelynne]

Hi everyone. I stumbled upon this site today, and think I may have found a pseudo support group here.

First of all, I want to thank the community for all the great information. Second, I am hoping to get some advice.

I have a spending problem. The more I make the more I spend. I have a hard time making financial decisions with the future in mind if they aren't made for me. As an example, I have 11% of my income going into both a traditional and Roth 401k, but my savings account hovers around 0.00.

My only debt is a $200 car payment, I am 29 yrs old, and my salary will probably break the 100k mark in 2011. (yay!) But, I really really want an emergency fund, and I'd like to buy a house in the next year or two. In the past I have had bundles of credit card debt, but have climbed out of that hole twice. I can't seem to stick to a budget.

So my question is:

What budgeting methods have worked for people without the strong will power or motivation to save money?

As an example, from reading on this site today, I decided to open an account with ING. Money in my current savings account is only a few clicks away from being in my checking account (and often ends up there). With ING I will have to wait several days at least. No more instant gratification.

I've thought about taking cash out of the ATM every week and budgeting like that. Maybe give up my debit card for an ATM card so avoid impulse shopping?

Thanks in advance.

Setting your goals and how will you be able to achieve them. Of course it's hard to maintain things like this but especially when you're like in emergency cases but at least, with the right motivation and will power you may find yourself almost close to what you really want. Trying posting it in your closet or door. maybe this trick will do. (Just suggesting)

[BuckyBadger]

Transfers between ING checking and savings are direct, with no waiting period.

However, if you invest with SmartyPig, you are not allowed any withdrawals, unless you close the account. For people having trouble keeping their hands off their savings, SmartyPig is an excellent vehicle.

Just curious -- if you can't withdraw your money, what does SmartyPig do for you? The point of saving is that you're saving it FOR something, no? So what would you be saving for that you never use Even your EF is savings for an emergency...

I could see limiting the number of withdrawals, but it seems pointless to not allow withdrawals...

[photo]

Just curious -- if you can't withdraw your money, what does SmartyPig do for you?

Gives you a higher percent interest than most banks. Also, it discourages (prohibits!) people from the temptation of withdrawing whenever they feel like it. For some, like the OP, it may be a great help.

If I'm not mistaken, what you do is set a goal and then contribute until that goal is reached. I'm not sure what happens when you hit the goal; perhaps you set another one.

[Eric80]

the best thing i ever did was that I went to a debt advisor - they were able to talk me through what the best plan was for me to handle and deal with my debt - i was able to stick to this plan because it took into consideration my social lifestyle.