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Your Personal Savings Story

With the SaveItUp Challenge coming to a close this year, we asked our members to share their personal savings story. Here’s what they said:

“I saved enough money from working part time, summers, and odd jobs from when I was 8 years old saving allowance to pay for my first year of college.  I used a FORUM account to pay the bill.” - Nicholas

“I got a raise about a year ago and how I saved was pretending that I didn’t get a raise. All the extra money I got went straight into my savings.” – Anna

“My personal story about savings goes like this. After 21 years with my employer, my job was eliminated on 02/03/2012. Prior to this occurrence, our company had been bought by a billion dollar company 2 years before I lost my job. All employees were told nothing would change. Within the first 3 months, they let 20 of our corporate staffers go. At that point I made up my mind that I would prepare for the worst case scenario. I was able to cut back all unnecessary expenses, and I spent every extra penny to pay off my house, within 9 months. I already had an emergency fund of $16,000 in savings. Unknown to me, I had about a year left of employment. I continued to save as much money possible. At the end of my employment, I had boosted my emergency fund to $26,000. My car was in need of replacement. I was able to find a 2011 Chevy Impala, with my trade in, for $14,500, which I paid cash, from my emergency fund. I ended up with $11,500 in my emergency fund. I received a $4,500 in severance pay, which I added to my emergency fund. That brought my fund back up to $16,000. With my unemployment, I’ve been able to add $4,800 to my emergency fund, so I have $20,800 currently, with a paid off house, a one year old paid off car, which has lessened my monthly expenses tremendously. My whole point to this story is you have to prepare for the worst, and live as frugal as possible, and if the worst happens, it will be well worth the financial sacrifices you make.”  - Brian

“FORUM is my “go-to” place for all of my financial needs. I have approximately 10 accounts, which keeps everything straight. I have dealt with FORUM for the past 28 years and have never had a problem. I have financed numerous cars, at least three houses and other minor purchases and love the way I have been treated by the people of FORUM. Lisa Garvey is my real hero . . . she has helped me with all of my houses and I look forward to many years of working with her and her group. YEAH for FORUM!!!!!! -Myrna

“I have had my own FORUM Checking and Savings accounts since I was 14 years old when I started working. Growing up, my family didn’t have a lot and my mother is an expert in "frugality." So I pretty much learned from the best. When I was 15 I was in a car accident where I received a large sum of money from winning the claim. Instead of just depositing in my account, I (and my mother) did our research and put the whole sum in a FORUM Certificate. That was a great savings method as I actually accrued money from it, but probably my biggest personal savings story accomplishment comes from being engaged. We were saving everything to have a fantastic wedding. We find out when you register for Target you get a $25 Target gift card. The same week the Indiana Blood Center was giving away $10 Gift Cards for donating, which I did. Then lastly my employer refused to give us raises so my manager dipped into their petty cash fund and started offering rewards for hard work. Well I'm a very hard worker, and I got my choice of a $25 gift card which I also asked for Target. That week I went grocery shopping at Target, with my coupons and gift cards, and ended up with $90 worth of groceries for a whopping $8. I felt so proud & accomplished! Thank you.”  - Nikki

“My wife and I use a separate account for a small part time job she has and save the paycheck each week until Christmas. We then use it to buy our gifts without having to touch our 'real' money. A great way to enjoy buying for others!” – Shawn

“We started the Dave Ramsey program about 2 years ago and saved up our $1000 emergency fund savings right away. The first year, we never had to touch that money, but during this past spring, we had to have $450 worth of repairs done to furnace and then major car repairs as well. If it weren't for our emergency fund, we would've had to borrow from family or use credit cards. We quickly filled our emergency fund back up and just in time because I became laid off in June and that money has helped us get through the summer. We are so thankful for the Dave Ramsey program because without it, we would probably be bankrupt!” - Christine

“I have been a big saver for years. I have a budget for the month for household finances.  I was able to save $3000 last year in spite of costly medical bills that were unexpected as a result of a trip to emergency room.  My family and I also moved last year and we were able to refurnish every room except the dining room.” - Courtney

“The Weekly 5 savings program has helped me to save money!  I am a Colts season ticket holder and just by having the Weekly 5 account, I don’t have to worry about how I am going to have to come up with the money for season tickets.  I just make sure that my term date is before the date the money is due to the Colts….and no worries at all!  Weekly 5 is great!  You can also win weekly prizes, which I was a recipient of one time for a $25 gift card.  I love the weekly 5 savings account! - Frank

“Since I first started with a good job that allowed for a decent level of living expenses, I began formulating a non-complicated way of saving and preparing for security at the last part of my life. Based upon advice from my parents along the way, here it is: First: Except for emergencies' try to spend a little less than you make every month. Second: with very few exceptions (Home Mortgage and a car-not new) buy what you can afford to pay for at the time. Use Credit Cards only for convenience and pay off balance before due date! Last: try to get on the receiving end of Interest Payments! these Simple Rules may seem outdated to some, but over they become habit and They Work!” - Charles

“When my husband and I were married 40 years ago, we lived on his salary of $9,000 a year.  You might say, there is no way two people could live like that.  We did and never felt hungry or poor.  Of course everything was much less.  Gas was around 30 cents a gallon, milk was 79 cents a gallon and bread was 30 cents a loaf.  Anyway, our beautiful brand new 2 bedroom apartment in Carmel was with all utilities, $179.00 a month.  My husband would bring his check home.  I would cash it and divide the cash into different labeled envelopes.  One for rent, one for food, one for gas, etc., we had about 6 different envelopes. At the end of each week, I would use the envelopes for food and gas.  The one for rent would accumulate, so by rent day, I would reach into my envelope and have the $179.00 I needed.  If we didn't use all our food money that week, we put it in an extra envelope marked bonus.  We also threw all our change in a big water bottle. Those were just a few ways we saved money.” – Cathy

Thank you to all of the members who shared their stories and advice. If you would like to share your personal savings story, tips, or advice, please comment.

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