Well, it was the original intention. Then the companies discovered they could make more money off debt interest, and the rest is history.
I actually use an electronic form of ‘envelope saving’. I use quicken for check/bank account ledger. I have some ‘fake’ checks at the first of the chronological list. So they are not seen when looking at current balance etc. I will monthly increase these fake checks by a given amount (ie. Auto Ins 250/month). That way I always have the cash to pay in full when it comes due. Plus I get a little interest on my checking account until it’s used.
I could. I don't want to. The only debt I carry is real estate. CC are only used for points/cash back.
Raise your children to not ever have debt.
Ally Bank has a bucket system for their savings accounts. You can set up buckets for individual projects and still have the overall balance gaining interest. It's not much but it helps. They are at 3.30% APY right now.
We had an annual benefits meeting at work last week, and one of the topics discussed was the end of vision coverage. The benefits guy (from the insurance broker’s office) said he expects routine vision care coverage to go away, as it’s a terrible business from the insurer’s perspective—basically, the only people who get vision coverage are the people who need it, so you don’t have a pool of “healthy” people paying into the system to cover the costs for the people who get payouts from the system.
Whatcha saving for to purchase?
