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Pay Yourself


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This Sparked Me!

When you have finished paying off a "loan" whether it be for a car, a credit card, or anything else continue making these monthly payments to yourself to a savings account.

I paid my car off a while back and continued making those payments to myself. It only took 2.5 years for me to have enough to buy my next car without a loan. The best part is that it took half as long as a standard car loan because there was no interest. I EARNED interest instead of PAYING it!
- Submitted by TESHIE4ME 6/10/2010 in Saving Money | 5 Comments
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Member Comments

FOREVER4ME 6/15/2010 9:07:00 AM

    Awesome idea and a great way to get ahead. I usually like to save up for what i want to buy or fix in the house ect. Some times unexpected thing happen and I have to use that money. But being patient to save keep you out of deep debt. emoticon
JRBASKIND 6/11/2010 12:47:00 AM

    Awesome idea. I wish I could do it, but my debt load is too big for that yet.

NORASPAT 6/10/2010 2:52:00 PM

    It is great that you thought that through and were able to do it. Excellent choice. Pat in Maine.
CHAIRUL 6/10/2010 2:02:00 PM

    That's a really good idea. My husband and I just finished paying off ALL our credit cards!!! emoticon
TERRIEJO53 6/10/2010 11:26:00 AM

    This is one of my favorite ways to save. I have a car note that will be paid off in two months and I'm looking forward to that money going to MY savings account instead of GMC!

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