A penny for your thoughts

One of my new year’s resolutions is to be more fiscally responsible. We are fortunate not to have to worry about how we’re going to put food on the table or how we’ll be able to pay the mortgage this month, knock on wood. But every newspaper article and every news flash on the television reminds me that it can all change in a second.

As a couple, we have made financial decisions together and our joint finances are in order, but I’ve been thinking about what I could be doing differently with my personal account. More specifically, I’ve been thinking hard about savings.

I always came into money when I needed it. Never large amounts due to an inheritance or a lottery win. Just small windfalls that always managed to come when I needed them. Sometimes it was an unexpected tax return or a generous Christmas present. When I’d feel the tightening of the ol’ belt as they say, I’d race to enter any open writing contests. I wouldn’t win every competition, but I entered enough that I usually would win a cash prize at some point. And with whatever winnings and the money I made at various jobs throughout high school and university, I did ok.

As I’ve got older, those cash prizes are harder to get, mainly because so many of those competitions are only open to students. The small amounts of money I’d come into in my younger years wouldn’t have as great an impact now as they did back then, back when I just needed beer money until I could sell my textbooks at the end of term.

I need to remember that just because I can afford to spend the money I do have, I don’t have to. I should save more. If I’ve learned anything in my 29 years on God’s green earth, it’s that money makes money. (I’ve also watched my fair share of financial sage Suze Orman. “People first, then money, then things.” Got it.)

Between Groupon and LivingSocial and voucher codes galore, I don’t buy anything without searching for a better deal first. But getting a good deal has never been a problem. My dad always said, “You’ll go broke saving money.”

So, how about not buying it in the first place and just saving the money?

My sister used a ceramic Peter Rabbit bank for cash well after she got a bank account. The woman in the Shopaholic series froze credit cards in a block of ice in the freezer. During a particularly skint month, my friend gives a chunk of money to her mom and has her ration it out to her throughout the month. Another friend saves every £2 coin he comes across and deposits the lot in his account once a year.

What do you do?