Advertisement -- Learn more about ads on this site.

Secrets of Success

< Secrets of Success Main Page    Submit a Secret
0
 

Pay Yourself

106

Members Were Sparked
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.

MORE INFORMATION:
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
Please note these are member-submitted secrets and are not reviewed by SparkPeople's health experts for accuracy. If you feel a secret is inappropriate, please click Report Inappropriate Secret and our staff will review it.

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.

emoticon
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!

Leave encouragement, a question, or anything else relevant to this. All comments must abide by SparkPeople's Community Guidelines.

Log in to post a comment.

Related Secrets

Diet Resources: eating right for blood type a | eating right for blood type | eating right meals