There is an old saying that you can’t have your cake and eat it too. As hard as it is to save money, I believe that I have found a way to spend money and still save money on top of that. All with the help of my bank.
My bank introduced a Savings account last summer that I immediately enrolled in. The way it works is that 1.5% of my purchases is automatically transferred to my savings account.
It honestly makes me feel kind of lazy that I didn’t practice the discipline myself of saving. On the other hand, there is no better feeling than checking your account balance and actually believing that you are out of money, only to find a sizable sum of money tucked into your savings account. Provided you can at least practice the discipline of not transferring it back to your checking account.
So, to sum it up, I am basically saving money by spending money. Something about this sounds so in line with Keynesian economics. Of course in all actuality, you never really save money. You are always saving for something; whether it be a down payment on a house or a car. At least try and save for something that is more of an investment, such as building equity in a piece of real estate.