Suze Orman has a program with TD Ameritrade where if you open a savings account with them and deposit at least $50/month for 12 months, they give you $100.  I need to do a better job of savings anyway, so I signed up!    I made my first $50 deposit and have scheduled monthly auto deposits so that I never miss one.

2008 is going to be a critical year for me financially.  My car will be paid off in May and I can use that chunk of change every month to attack my consumer debt.  I also have an unsecured loan that will be paid off later in 2008, freeing up another monthly amount to put toward the other debt.  I may just kick this bad habit, ladies!    I know my hubby will be relieved.  He's debt free and quite the thrifty guy.  My debt is a burden to both of us.  Especially since we'd like to purchase a home in the next few years; hopefully while the market is still down!

Edited to correct the word "spendthrift."  Felling  for using it incorrectly.

Sounds like a good plan! Maybe I will check them out myself for fun.

Hi, I'm new here, so excuse me for coming in so late on this thread.  I bought the Orman book a few months ago after seeing Suze on TV late one night.  Everything she said made sooo much sense.  I promised myself to get the book and start my SYA by the deadline (end of March) as a present to myself for my 41st birthday this month. 

I opened my account a few days ago and will deposit my first $50 on the 15th (payday), setting up electronic deposits so I don't forget and forfeit the $100 bonus.  I'm excited about this, because it is the start our 'get out of debt' plan for this year.

We are selling one of our cars and our two motorcycles, and rolling all of our extra money first into one debt, then into the next, and so on, till we snowball our way out of this hole.  Along with this, our income tax refund for this year ($1800) will be the beginning of our emergency fund, and the extra income I will get from a new job starting this month will go into building up our savings.  By November, we will have eveything paid off except one credit card, and we should have a few thousand dollars saved up (and be ready to take a little vacation as a reward). 

This has to be the year for change!  I feel we will be able to adhere to our plan, because we will still have extra money for entertainment and small purchases.  Therefore, we won't feel like we are on a strict diet, so we won't freak out and go binge-shopping or give up on the plan for being too hard. 

Our plan will actually begin on the 15th, when I start my new job, and my husband gets a big pay increase at his job. 

Meanwhile, I've cut down on our grocery bill by buying only basic, healthy foods, cut down on our cell phone bill by changing plans, and we try to avoid extra shopping or eating out too often.  It's a start!




 

Welcome!  I think once you get on the personal finance/saving train, it is such a positive, fun experience to see in what ways you can cut corners.

I may make less than some friends in higher-paying fields, but we are worlds above lots of them because of our frugality and sticking to a budget-ness.