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Layaway Your Money

Updated on January 28, 2011

Money Saving Concepts

Rethink Spending

Spending money can become a habit. It takes checks and balances to keep out of the spending zone. Check your bank balance everyday. Balance your check book everyday. When you keep track of your spending you keep track of where your money goes.


Rethink how you treat your money. Put it in the layaway, and have fun at it. The layaway can be a cookie jar, old purse, hidden drawer or dollars you don't include when you're balancing your check book. Direct deposits of your salary net amount can be recorded as such: $956.48 direct deposit can be recorded in your checkbook as $900.00. The $56.48 will increase over time and when you balance your bank account, whether it be on the reconciliation statement or online, you'll see a balance higher than your check book which comes in handy for a needy/rainy day.

Sure enough you want to maintain a 401k, pension, money market, mutual fund, IRA account, or similar saving funds. In most cases, automatic deductions are taken in advance from your pay check. You'll still need dicretionary funds so you'll have more money than month. That's where less spending and more money is placed in the layaway.

Watch Your Spending

Make a list of the items you may want to purchase and you'll find you'll focus more on your needs than wants. Spending generally is on things we want and can do without.  Spending generally is impulsive buying that leads to dipping in monies needed for bills, grocery, gas, and/or items needed for the less fortunate. 

Rethinking your spending methods and putting more money in layaway places goes beyond regular savings.  You get smart at handling your money.    More money will be attracted to you out of the respect you give money.  Watch your spending!


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      polymyalgia 8 years ago

      One by one we can turn this economy around by having personal check and balance systems and layaway plans for our money. The days are over for putting our hard earned money out to credit card, financial agents, loan managers, even utility companies and not do a check and balance on our bills weekly. Guess what? All year I've found errors made by bill collectors every month. This has saved us well over an average of $500/month. Now I have more money than month.

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      scheng1 8 years ago

      That's a fun and simple way to keep track of money