I am not sure how many of you have seen Kevin Hart’s Laugh at My Pain, but in the movie he tells a joke about his bank account being set up so that it takes 3 days for him to transfer money from his savings to his checking account. When I tell you I DIED laughing when I heard the joke because that is EXACTLY how I have my accounts set up. My savings is automatically deducted from my pay check every pay period, before my check even hits my checking account. When I first opened my grownup savings account, I didn’t have the discipline needed to have everything all in one place without spending it when an “emergency” came up, and it works for me so I have never switched it.
I had a conversation with my mom over the holidays and she just didn’t understand why her method of savings didn’t work for me. She said my method showed a lack of discipline since I couldn’t have money accessible and not spend it. And here is the thing, I HOPE to be at the place that my mom is one day, but today is not the day, ha! But, I am not going to stop saving because I don’t have the discipline, yet, not to spend money that’s readily available. Instead, I found a way that works really well for me and has allowed me to save on a consistent basis. What I have learned over time is there is no reason to be ashamed of identifying a weakness that you have and finding a way that you can effectively work on it. To me actually saving is more important than the method I use to get it done. If you have a problem saving, but feel like saving is important, my method may work for you because you don’t have to THINK about saving, it just happens automatically. Also,because it takes a few days to access the cash in your savings account, you tend to be a little more careful about how you spend the cash you have access to.
P.S. What works for some may not work for others, so I say Do You!
Video Of Kevin Hart talking about how his bank account is set up. Enjoy!