My Journey out of Debt

Featured customers currently enrolled in a CareOne Debt Relief Plan, share journey to become debt-free; hear how they juggle family, finances, and more.

Savings? What Savings?

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Savings? What Savings?To me, this is by far the hardest thing about being in debt: listening over and over again as family, friends, experts, and everyone tell you that you not only need an emergency fund, but you need to grow your savings account. 

I don't know if I speak for you all or not,...but I KNOW!!! 

Don't ya think I get that? 

Don't ya think that in all of my struggling and "learning" about my financial strengths and weaknesses that I would totally get that a savings account is pretty awesome? 

But, don't YOU get that as I am working my tail off to get rid of the debt I have accumulated and struggling to keep everything balanced, that there just isn't enough left over right now to put in an emergency account, never mind a savings account? Okay, vent partially over.

I am not going to lie; I try very hard to put aside money into a savings account and no matter how hard I try, something comes up and I end up needing that money for some sort of urgent expense. 

I can't get it to grow; heck, I can't even maintain a balance above $10 and it is frustrating, but it is my reality. I hope to get to a place soon where having extra accounts and being able to grow those accounts is something that is automatic, but it just can't happen right now and I can't feel guilty about that. 

It is what it is. Am I alone out there? Am I the only one that has this problem?

I know my Dad will be very frustrated reading this because he always told me and my siblings growing up, "I don't care if it is a dollar or a dime, put something aside each week for a rainy day."  I wish I could Dad, and I promise I am going to try a bit harder because I don't want to be caught without an umbrella! 

Next week, I will start by transferring $10 cash into my savings account and set it up to repeat each week. We will see what happens and I will try to keep you updated on my progress.

Anyone else want to try? Who's in? 

Related Posts:

Utilize Your Savings Account

Ways to Save For the Future

A Penny Saved is a Penny Earned 

Katie Lupo, Debt Management Plan Customer with CareOne Services, Inc. 

Katie (Simmons) Lupo

Katie is currently enrolled in the CareOne Debt Relief Services Debt Management Plan (DMP). You can read more about Katie's experience in the My Journey out of Debt blog. In her blog, Katie explores life without credit cards, living on a 'real' budget and making that adjustment from spender to saver. A newlywed, Katie candidly addresses how debt has influenced her choices in love and life. Compensated Blogger for CareOne Debt Relief Services.

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  • Oh, I hear you, Katie!  I had an emergency fund when we sold a rather large item about a year ago.  Like you said, the funny thing about an emergency fund......when you have one there always seems to be an emergency to match.  :)

    I'm in!  When you update with your progress, I'll update with mine.

  • Oh my goodness, Katie, I understand! Although I am not enrolled in a CareOne plan, my husband and I have been in a DMP with our local agencyfor the past three years. We have one month left. One....month. I haven't yet reached the giddy stage because my finances have frankly left me exhausted. They are on my mind constantly. We have no savings or emergency fund either because it has been impossible to put anything back, but we are getting there. Our appliances all decided to go out in 2011 one at a time and our cars needed repaired. Let me tell you, that was AWFUL trying to come up with extra cash for that nonsense . This year has calmed down considerably (knock on wood). I feel much better knowing that we are weeks away from our final payment. Best of luck to all of you that blog. I enjoy reading your posts and feel better knowing that we are not alone in this journey!

  • I agree!!  It is so hard to be able to save when you are paying down  your debt!!  I understand why they think we should save some money for those emergencies but it is down right difficult when things consistently come up.

    I am in as well!!

  • Thank you Katie  i have read on here others are saving, buying new cars and i thought God it all i can do to pay care one and my other bills and have grocery money and gas money savings are you kidding me ?  I just keeping holding on because in 2 yrs i will be done and plan then to stay on the right track till then i hold my breathe hoping my car holds up and no major bills come up glad to know im not the only one that truely needed this help. And appreciate the help of care one  but dont find this to be a cake walk

  • saving is SOOOO hard for me and My dad is big on the savings is important speech. Once my new job kicks in and I am current on my mortgage and debt I will start a savings.. but Im open to 10$ a week...

  • This is one of the reasons why I love to blog about this stuff.....makes me feel so much better to know others are going through the same thing!  Thank you for sharing....it's less lonely!  Travis.....do I sense a competition?

  • Oooooh.....you better believe it, Katie.  It's on like Donkey Kong!  LOL.

  • I am righ there with you, Katie!

  • Katie,  I have similar issue to you, but the way I look at it I am the bank and when I get a little extra I try to pay myself back.

  • I am in..!  i also have the hardest time saving....

    but 10 dollars a week can add up as long as i do not touch it.  im definitely going to try starting this week!!

  • story of my life!!!  in addition, I work for a non-profit so funds are tight to start.  but I'm on this debt management plan to get back on track, with a year and 4 months left to go, the finish line is in sight and I can't wait until I cross it.   I've realized on this journey to financial freedom, that small steps not only count, they absolutely matter.  $10 dollars adds up.  I'm going to do this!  good luck to you!  :)

  • I'm in.  But it is so hard to not touch it.  I have a savings account that is inconveniently located but now it is almost dry.  Your post inspires me to start saving again.  I am going to commit to $5/week.

  • I've started.. I statched away $18 from Jan 1st to the 18th. Each payday I up the ante to $2 per day until next payday.  I need to .. I have to..  I have a reason.. With medical bills etc.. one doesn't know when an emergency will creep up..

  • Life happens...car breaks down, furnace goes, etc, etc, etc. I'm constantly tapping in to mine, right now have about $17.00 in it. Don't beat yourself up about it!

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