Keep the Change.

November 18, 2007 at 8:07 pm 2 comments

On a whim, I enrolled in the ‘Keep the Change’ program at Bank of America. That way, everytime I use my debit card, a rounded-up dollar amount will disappear from my checking account and the change will be deposited in my savings. I make a lot of insignificant purchases each day, wasting time after classes and wandering the consumer-friendly isles of various florescent-lit stores.

It’s typically along the lines of this:

$2.74 at Safeway for Chinese food. (+ .26)
$3.49 at Target for hair ties or bobby pins. (+ .51)
$5.34 at Tri Dee for a new tube of paint. (+ .66)
$2.95 at Co-Op or a grocery for sparkling fruit juice in a cute bottle. (+ .05)
$9.56 at Victoria’s Secret for a thong or a bottle of shimmer lotion. (+ .04)

That’s just one day, and about $1.50 added to my Savings. If I keep that up, I can make almost $50.00 a month without even trying! Not bad!!! Of course, I can’t possibly be consistently spending in this manner. I have to account for trips to the salon and online shopping at Sephora, UO and Aber.

On the other hand… I’m spending close to $700 a month… which is coincidentally about how much I make. I should probably look to save money more deliberately, so I can like, really save– instead of depending on my incessant spending to “earn” money.

Wow. What an epiphany. I mean, in one seemingly meaningless post, I’ve been revealed (to you and myself) as someone who bought into (unintentional pun…) the whole American/credit card company/rewards program/punch card ideals of spending money to make money. From now on, I’m saving my receipts and spending less…. Really.

I’ll keep you updated.

Entry filed under: Uncategorized.

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2 Comments Add your own

  • 1. victor  |  November 19, 2007 at 12:10 am

    I was going to join a similar program, but I often find myself transferring money from my savings to my checking when my checking account is running low.

    So if I had a bunch of money being transferred from my checking to my savings, I’d have to do that more often.

  • 2. michele  |  November 19, 2007 at 1:10 pm

    did you know that at the end of the year they match watch you save?


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