Sunday, August 3, 2008

What Happened to Keep the Change?

A lot of people have been asking what ever happened to my Keep the Change program. (Ok, nobody's been asking, but I'm going to address its absence anyway).

Basically I had gotten to the point where any extra money at the end of the month was stuck into savings, so an end of month "tax" on spending was pretty much a moot point, since I was putting 100% of extra $ into savings/investing anyway.

I've been thinking of ways to modify this and make it make sense for me. Ideally a Keep the Change program should save money from each purchase. I'm tracking all expenditures so this should be easy enough. Perhaps if I do a weekly tally and put that amount into savings? That would make the administrative overhead not too difficult and get the benefit of saving along the way, avoiding spending myself out of possible savings by month's end. I could easily track the KTC "tax" amounts for each expense in the spreadsheet I already use.

I think I will implement this this month.

1 comment:

Louise | said...

You've sure thought of a great way to save some more money. I wish you luck with this! And hopefully you'd reach your target. :)