What do you do with your savings?

[snelson]

I love to read your success stories--and I'm wondering if any of you have creative ideas for how you use your coupon savings? Do you put some of the savings aside for a special goal, such as a vacation? Or are any of you able to accumulate an "emergency fund" as financial experts recommend, at least $500 set aside in case some unexpected expense comes up?

Throw your ideas in and read others' ideas too!

Thanks!
Stephanie

[shoppingsnyder]

I use my savings to pay down our mortgage. My goal is to have the house paid off by the time we are 40.

[CherryPicker]

Personal Fullfillment:
Coupon savings have allowed me to donate to my local community on a regular basis, and has allowed me to donate to individual families who have lost jobs during this economy.

Financial Fullfillment:
1. I live a debt free life.

2. There is an emergency fund in place and I contribute to it on a regular basis.

3. I've went from making ends meet......to a beginning investor!! While others have been worried about the stock market.....strategic shopping has allowed me to see it as a bogo sale with a coupon that doubles.

4. In addition, I have created a separate savings account funded solely from every rebate I have ever earned.....this fund will be used for a vacation.

[churn111]

Stephanie I am so interested in what others have to say. I'm always amazed at how everyone "tracks" their savings. I don't. Maybe it's because even before learning strategic couponing last year I've always been frugal, tightwad, cheap, thrifty----whatever you want to call it. We have been blessed with not having a ton of financial worries. Never trying to live above our raisin' so to speak has helped. There have been times during layoffs or strikes (hubby is union) that things have gotten tight but the Lord has always provided.

I think it's interesting all the different reasons I hear/read that people coupon. For some it's a have to just to get by, for others they save all they can on food just so they can buy designer shoes or handbags. And every reason in between I'm sure.

I do know that it's an awesome feeling to come home with $25 worth of stuff for pocket change. And our offerings to our church have increased along with givings of our aquired stuffs through coupons.

[CMUGRAD]

Right now my coupon savings is going to pay down my last big bill which was money I borrowed years ago from my husband before we got married...so in effect I am actually putting money into our savings account for a rainy day!

[IndianaMom]

We have always been big savers, I am a firm believer in saving 20% or more of your income, which is not easy with one income for 6 people, and being debt-free. Before I became a SAHM we lived on just my husband's salary to get ready, plus we moved from a very expensive state (NJ) to a much less expensive state (IN). With our added sale/coupon savings lately, we are buying my husband a new car, his is 9 years old with 150,000 miles and has been acting up recently! The $300-$400 a month payment will not hurt our savings goals at all since I save more than that couponing and combining sales.

We are moving to a smaller house soon, and mortgaging the max possible, since interest rates have never been this low, and pulling out most of our equity. We could make a bigger down payment, but why would we, when that cash can be used now to invest in college funds for our children. I bonds are paying 5.64%, if used for education the interest earned is tax free. Mortgage interest rates are about 4.5-4.6% for 30 years right now.

So to sum it all up, we are using our couponing savings for a new car and to save for college. Thank you for setting up this forum, it has been a big help in learning the process of maximizing savings! I have been able to give away so much excess this way too, and am spending much less than before!

[lucyrevenge]

I'm taking from Peter to give to Paul at this point as DH doesn't know when to stop spending.

When I was single I had a savings account. $$ in the bank, and paid my bills in advance. Makes me wonder...

At least I can still give away alot thanks to couponing.

[thekidwithhim]

Originally Posted by lucyrevenge

I'm taking from Peter to give to Paul at this point as DH doesn't know when to stop spending.

When I was single I had a savings account. $$ in the bank, and paid my bills in advance. Makes me wonder...

At least I can still give away alot thanks to couponing.

I feel this way too. I can't imagine what kind of mess we would be in if I DIDN'T coupon. We live on one income and as it's my husband's, his attitude is "I make it and I can spend it."

I give away what I can get for free, but I'm still trying to get DH to see the light when it comes to savings. He says he doesn't understand the point of saving with no goal in mind.

[rayflana]

THEKIDWITHHIM:

Can you find an item your DH may "want" and correlate your savings into your ability to get that item for "free" with all your Coupon Savings?

I'm putting the savings I have into a "Wii" jar for our 2 kids. I also pad our savings acct. for a "rainy day."

We have 1 income and the $$ I'm saving makes it easier having my DW stay at home with the kids. She's not a big couponer, but she does appreciate the work I put into the deals I get.

[ameeker]

Well first off I have a small box that I put "register errors" in. That's right I actually comb through every receipt and when I find an error, I go back into the store and get my money back!!! These errors will go toward a new (and much larger) energy star deep freezer. My goal is to make this purchase before the garden hits full tilt this summer. So far I have $330, and have only been tucking it away since December. I also throw in the occasional baby sitting cash, but better than half of it is from cash register errors. Once we get the freezer, the "register error" money will be set aside for a treadmill or maybe an ellipse machine - haven't decided yet.

As for other things, my DH sent off the last payment for the Home Equity Loan we had last week, which gets rid of a $400/month payment for us WHOOO HOOOO!!!! So I think my next project will be to start setting aside money for a Disney vacation for the family. The DH has a new client in Miami, so maybe we'll be able to book it around a business trip and save some moo-la in the process.

On the home front, I've been feeding others with my excess bargains, namely my nephew who is laid off. He'll eat darn near anything, and he happily takes whatever I have to spare. I also give lots of snacks to the school, and lots of free chow to my dad's new puppy.