Tuesday, February 9, 2010

My emergency plan!

So I recently mentioned my emergency money plan (see my last post). However, that has slightly changed because Jessie gave me an excellent idea (see our comments about two blogs back). Since we both love the idea of money being out of sight out of mind, we're going to open a savings account with a bank other than our own. That way we won't think about it and we won't have access to that money unless we make the trek all the way there, aka in an emergency.

After a little bit of research, I've decided on Rosemount National Bank. It's the bank I first used when I started earning money so it's close to my heart. Plus, a lot of other more commercial banks require a checking account in addition to your savings, which I don't need. Conveniently, RNB has a minimum balance of $1000 if I want to upgrade to a money market savings account so I can get more interest than I would with a more normal account. Since I am not a fan of minimums, I don't like that I'm so close to the minimum account balance. It's triggered me to try to add to that account when I can. Like my dad used to tell me, "you're never going to look back on putting money aside for savings and say 'Damn! I wish I wouldn't have done that!'"

4 comments:

  1. Lol. For sure! The only thing we'll regret is NOT putting money aside! I am so proud of us! And it was Trav's idea for the seperate bank for only the savings account =) what would I do without him?

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  2. Oh, and I'm going to do that too! I'll be heading to the bank every time I get paid, to put some extra money in there for saving. And I'm thinking I'll just have my company direct deposit like 100 dollars every paycheck into there. Woohoo!

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  3. Wait so you're putting money in AND your company is going to direct deposit some?! Luck you! I can't afford to do that much but I sure wish I could! One day!

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  4. Well, instead of making a trip to the bank all the time when i have money to save I think I'll just make myself do it and have Medicity put part of my check in there automatically every payday. Right now it all goes into my checking.

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