Inspirations

[meg_levins]

I stuck another couple dollars in my stashing-tip-money-away tin hidden in the basement and thought "Oh, I wonder if I have any more cash in that little side pocket of my purse that I regularly forget about."  Sure enough, I found nine one dollar bills.  I added that to my tin.  While I was in that side purse pocket, I looked through the few other

Comments

IRA

[colibri29]

i don't agree that the money does NO GOOD in the basement, though it would obviously do something more in an IRA account (the IRA or savings account is good, solid advice:).

The initial point about stashing money away in a jar is to get USED to it -- especially for servers who end up with so much cash flowing in and out of their hands: (they need to learn to HIDE THE MONEY so they don't think about it and therefore do not spend it).

Some people have problems saving money -- a lot of people I think. (I'm one of those people that it seems almost impossible for.) Also, though i know this is a sneaky side-point, simply putting the money in the jar makes it YOURS... she doesn't have to worry about someone taking her money for illegal substances or video games or for take-out when she's a work MAKING THE MONEY.

There is also the issue of needing to use the money...for various emergencies. Very convenient to have it right there without penalities associated with the spending of it. I think at this stage, when there's not very much saved up yet, a savings account seems more reasonable...