“Saving Money”
Today I’m going to tell you three
things about saving money. First I’m going to tell you about the three jar
rule. Second I’m going to tell you about putting your money in a bank. Lastly
make yourself a monthly budget.
First I’m going to tell you about
the three jar rule. Label each jar big item, spending, and emergency. The big
item is for saving up for an item that takes longer to save up for. The
spending jar is for items that you want to buy right away. The emergency jar is
for rainy day expenses you don’t expect.
Secondly I’m going to tell you about
putting your money in the bank. The bank will pay you interest for everything
you put in a savings account. After a couple of months your bank account will
grow bigger and have more money in your savings account.
Thanks for these great ideas about saving money. It's really helpful to learn these new ways to save, so that you don't need to worry about money in the future.
ReplyDeleteI wish I had learned the three jar rule when I was your age! What a great idea for budgeting between immediate needs and some longer term "wants" and an insurance jar for a "rainy day" emergency.
ReplyDeleteHow do I know when I have saved enough for a "rainy day" emergency? Can you give me some examples of emergencies where I might need to finally spend from the rainy day jar?
Thank you for your advice, Cory.
Hi Cory,
ReplyDeleteThanks for the great idea about the three jar method. I wonder... have you tried this before? If so, were you able to buy something you had worked hard to save for?
Wow, I love this simple and easy method for saving. What "big item" are you saving for Cory? I think I may save some money for some new tennis shoes. The sole is about to come off one of my shoes! - Rain, Singapore.
ReplyDeleteCory, you are an excellent writer! Your article here is very well structured and clear - you mention in the introduction what you are planning to write about and you follow that order underneath. I notice that you don't talk about making a monthly budget after the introduction...I hope that's a "to be continued" because I'd really love to read more of your work! :)
ReplyDeleteHello, Cory! What a fantastic idea, the "Three Jar Rule." Adults create budgets, with the same basics, but I never thought about the "Three Jar Rule." You are wise to save for really big purchases plus have a jar for your needs. To also have an emergency jar is an excellent idea, too. How do you earn money? Do you have your own account at the bank? I think your understanding about organizing your spending habits is very good. Thank you for writing about it so well.
ReplyDeleteWe had a three jar rule when I was a kid and then, after I was married, we worked with three envelopes. Thank for passing this idea on to your readers. Very nice job!
ReplyDeleteHi Cory
ReplyDeleteThe 'savings jars' is a great idea - or do you prefer to use the bank?
Have you started a budget yet? If you get pocket-money or birthday money, a budget could be a great way to help you see how much you can spend on the things you want - it can even show you how long you need to save more money for the really big things.
Great write-up - keep them coming!
Cheers
Suzanne
Hi Cory
ReplyDeleteThe 'savings jars' is a great idea - or do you prefer to use the bank?
Have you started a budget yet? If you get pocket-money or birthday money, a budget could be a great way to help you see how much you can spend on the things you want - it can even show you how long you need to save more money for the really big things.
Great write-up - keep them coming!
Cheers
Suzanne
I appreciate that you emphasize the need to save money. That's wonderful that you are thinking about that. Do you have any tips on how to save money or how to spend less?
ReplyDelete