Savvy Saving Plan

The recession is finally scaring me enough to look at my own money situation. Last night, my husband and I re-prioritized how we’re handling extra money. It was going to debt and remodeling the house, but from now on, it’s all going to one place: savings.
We made a goal to beef up our savings account enough to so that if the worse ever happened, we would be able to live off it for six months. Of course, we have been saving every month anyway, but now we want to uber-save. Super save. All our extra financial energy is going to be focused on one thing.
So how are we going to increase our savings account? Here’s our plan:
Put all extra money in savings–Any extra money after bills and necessities is getting deposited directly into the savings account so there’s no temptation to spend it.
Get extra money–Take on some extra freelance work, sell some stuff, and generally see where money can be found.
Reduce our bills–I’m going to see what bills can be reduced or eliminated. Extras go into savings.
Reduce spending—No more treats right now. We’re cutting back on eating out and I’m going to make more meals at home.
Get hardcore frugal–Let’s see how cheaply we can live for the time being.
The last time we did this, we were saving for the down-payment on the house. I was astounded by how quickly the savings account grew. It became almost a game to see how big it could get. It made the situation more positive to focus on a long-term goal instead of short-term pleasure.

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