Easy Ways to Stash Cash
R. Alex Whitlock
Ten easy ways to stash thousands, from MSN:
1. Pad your accounts.
2. Cull your bills.
3. Institute a family tax.
4. Save your reimbursements.
5. Realize your rebates.
6. Round it up -- or down.
7. Fee yourself.
8. Saving raises.
9. Divide and conquer your paycheck.
10. Pay yourself last.

I've used a few of these in the past. Here are some other ones I've used:

11. Comic book deposits. To do this, you must have comic books hung from the wall. If you're - just to pick a random example - 16 and have a small number of comics, you can actually have your whole collection on the wall (though after a while this requires placing multiple comics in a single sleeve). In addition to being cool, it's also useful because when you get your monthly allowance you can stuff it behind a comic book that you're absolutely sure that you will remember. After all, how can you forget Batman #482, the Doug Moensch masterpiece where Batman takes down Maxie Zeus before the evil Harpie can? Surely you won't forget. Except that you will. Then, when you want to read all about Harpie's ingenious plan to take down Maxie, you're rewarded with $30 you didn't even realize you had! You should be upset because a month ago you were freaking out when you didn't think you had any money, but generally speaking you're just pleased that you have more money than you thought you did. Downside: As your taste in comic books change, you'll be ashamed of the selection of comics you chose to deposit money in.

12. Loan money to people you know will pay you back. Generally speaking, I'm really good about fronting money for someone that needs it. This is particularly true when I know that they will be able to pay me back. Except that whenever I make a loan, I act like I'm never going to actually get it back. So when someone does pay me back, it's extra money in my pocket. An added benefit is that debtors think you're being generous. Downside: High interest rate due to periodic defaults.

13. Have a savings account that your mother recieves the balance for. How much do you really want to buy that you want her to see? This is particularly helpful if she's as thrifty as you aspire to be. Downside: That should be obvious.

14. Plan to buy something, but be too lazy to actually buy it. Case and point, I waited with baited breath for Jason Boland's latest CD to come out. It came out in October or so and I still haven't bought it. My joke of a computer set up is the same way. That new harddrive I've been saving for, the case, the CDR... all stuff I saved with the intention of buying months ago!

15. Don't deposit paychecks for months at a time. With this technique, you think that you're running out of money and incidental spending plummets. Then when you do deposit the cash, you're so thrilled to have it that you're reluctant to part with it lest you end up poor and destitute. Downside: Can cause high blood pressure.
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Observations

 
ATruett wrote:
2 (with coins -- get a lot of quarters!), 11, 13, and 14 (but without the fishbreath) for me. My version of 11 has been to put 5s/10s/20s in pockets of out-of-season coats. Many of MSN's suggestions would drive me crazy, because fudging the numbers -- even for myself -- just seems *wrong.* If my hand-made balance is not what my bank says it should be, something's gone off.

Downside to 15? well, as long as it's only checks without an expiration date... it's nasty to go to deposit a rebate check for something and realize you've put it off a few weeks too long.

But good suggestions, especially for people who, say, get raises or have salaries :)
3/23/2005
 
RAW wrote:
Incidentally, rebate checks fall into the "loans" category cause I never expect to actually get that money. So when I do it's party-central.
3/23/2005
 
Linus wrote:
I don't do any of these. I simply have my paycheck direct-deposited to my account and bills auto-paid. When the balance gets above a certain amount, I put a chunk into an account that actually earns some interest. When it gets below a certain amount, I cease all optional spending.

The rest of the time, I just force myself to agonize over whether or not I really NEED something before I buy it.
3/24/2005
 
RAW wrote:
Well, I suppose there *are* more needlessly practical ways of going about it... :)
3/24/2005

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