The Loonie Bin: Becoming One With Your Inner Saver

The Loonie Bin: Becoming One With Your Inner Saver


Becoming One With Your Inner Saver

My last post was a venting towards delusional saving and it seemed crazy that people needed to have money saved for them. What’s coming next, banks kidnapping loved ones and demanding a ransom only to return it to you in the form of an RRSP contribution? But it made me think about the times when I was younger and my money burned a hole in my pocket. It’s a lot harder to focus on the future when your twenty and think the good times will never end. I would spend my money of the most stupid things ever. I remember buying a toy lightsaber and NERF guns and my room mates and I would have huge battles that would repel women away for hundreds of miles. I ordered collector items off of Ebay that are now worthless, but I enjoyed spending my money on them.

I started becoming a saver when I moved to Edmonton. I slept on the floor of my sister’s apartment and started working for a new company. My car that got me to the city was about to die and I was pre approved for a car loan when I opened up my bank account. I was so happy that I got the loan and I didn’t even know what the interest rate was. I was very paranoid about losing my job and having to sell the new car and that’s when the pilot light of saving was lit. I started saving a few hundred dollars every month in a “just in case” fund. Over the months it started to grow until I had a few thousand dollars. I was like “Wow, were did this come from?” and I used that money as a buffer. I kept it in my account and never spent past that point. Soon there was another thousand left over and I made that my new buffer amount. Slowly but surely over the next year it grew and grew into what I like to call, a pile of money. It felt good seeing that big number in my bank account, always there, ready to bail me out when financial crisis struck. That’s when I knew I liked being a saver.

So why is it hard for people to save money? That’s a difficult question to answer because everyone is different. I myself do not have anyone that can bail me out financial so my fear of going broke is one thing that drives me. Having a goal is a good way to start down the path to becoming a saver. Perhaps its a new house, a new car, saving for education. Right now I’m saving for a down payment on our new house. When I’m tempted to spend money on things I don’t need, I visualize the new house in my mind and think how wonderful it will be to move in. As I drive by the fast food places on my way home I decide what I want more; A nice new house, or a bigger gut. You might think that I’m a fool for not splurging on a fast food treat, but it’s a matter of discipline. Willpower is underestimated force, but once you hone your ability to use it, it’s a blessing when trying to reach your financial goals.

What do you do to become one with your inner saver?

About EdR

Tant que les lions n’auront pas leurs propres historiens, les histoires de chasse continueront de glorifier le chasseur. (proverbe africain)

Posted on February 7, 2011, in training tips. Bookmark the permalink. Leave a comment.

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