Savings & Budgets

I had my first day of part-time work yesterday....I held a sign near an intersection for five hours. That probably isn't something most people would be excited by, but I am. I made a quick 45$ cash - that's nine bucks an hour -- which is more than I'd get with my on-campus job.

Plus, I get to do it again today.

I entered this information into my financial records...wherein I keep track of every dime I spend and every dime I get....and my 90$ weekends more than pay for my expenses each week. I can start to really save some money now.

Consequently, I opened an ING Orange Savings account yesterday - they have about the highest interest rate out of simimilar accounts at other banks. It is here that I will deposit 20% of my income, whenever I recieve it, regardless of anything else.

The breakdown (of my current 90$/wk income) is as follows:
20% - Long-Term Savings [compund investment does wonders, especially if you start at my age]
40% - Short-Term Savings [Macbook, in other words]
40% - Expenses & Entertainment [Groceries, eating out, riding the bus, soap, theatre tickets, movie rentals, etc.]

I'm waiting for the ING account to be verified. Opening a long-term savings account at a different bank from your primary checking account is a smart way to keep yourself out of the proverbial cookie jar.