The Kitchen Table

Freedom Fund

  • August 03, 2021
  • Emily Degen
  • 0 Comments

Freedom Fund

Many of us find ourselves in need of something we don’t have the cash for, but what about having extra money for something we just want?

My 4 sisters and I all live hours apart from each other so we try to get together at least twice a year.  We call it “Freedom Weekend” or “FW” for short.  Free of husbands, children and adulting for what seems like the shortest 2 days ever (worth it!).  Sounds important, doesn’t it?  It is!!!  Everyone should have one if you ask me!

When we first started doing this many years ago, I always found myself scraping at the last minute to get some “fun” cash put together.  Being the 2nd youngest and a first-time homeowner, I was learning how to become financially responsible.  I felt like my money was always spoken for.  I had not quite built up a savings account or had a stash of cash laying around I could use for well, no reason, like my older sisters might.

Somehow, I always managed to pull just enough together for gas, food, and my contribution to lodging.  However, I was always the one holding back from going on those little shopping sprees us gals love to do.  After the 2nd trip, I realized I had to figure something out.  These get-togethers mattered to me, a lot!  Worrying about my spending cap and not fully enjoying the experience put a damper on my Freedom Weekends and it was annoying, to say the least.

So, I started a savings account and it worked well!  For about a month.  Then I found myself transferring my FW money into my checking account for random things that came up.  This cycle went on for a few months and it was frustrating.  I had realized that I could not save this money when I could see it just sitting there.  I needed this to be an out-of-site out-of-mind matter.  I searched online for a local bank/credit union as far away from where I lived and worked as possible.

I picked one, walked in and opened a new savings account. Immediately, I set up automatic payroll deductions from my direct deposit that would transfer straight into my new savings.  I started with an amount every pay period that I was comfortable with.  I would not even see it come out of my check!  When the teller said he would get me an ATM card I stopped him.  I didn’t want one!

I had finally opened my FW account.  I eliminated any kind of quick or easy access to this money by being far enough away I would not want to drive there, and by not having an ATM card.  I purposely never signed up for their online banking, either.

Soon, I almost forgot about the account all together.  When I started going on those Freedom Weekends after that, I was comfortable.  I was the one excited to go shopping and was having worry-free fun!  Twelve years later I still practice this secret savings account.  It has made a world of difference not only for my Freedom Weekend trips, but in case of an emergency, it works quite well, too!

I encourage you to start your own secret savings if you don’t have one already. . . and I dare you to begin your own style of Freedom Weekend.

 

0 Comments

Post has no comments.

Leave a Comment

Captcha Image
We are very pleased with the service and attitude.We are very pleased to do business with your organization.
Auto Dealer Cedar Rapids, IA
Top