Comments on: The Importance of Saving: Don’t Hack Down Your Money Tree

By: The 99 Best Personal Finance Posts of 2012 - The First Million is the Hardest

The 99 Best Personal Finance Posts of 2012 - The First Million is the Hardest — Wed, 06 Feb 2013 00:11:38 +0000

[...] The Importance of Saving: Don’t Hack Down Your Money Tree – Savings can only help you if it is saved! Don’t sabotage yourself by dipping into your savings for your wants. [...]

By: The Carnival of Financial Camaraderie #49 | My University MoneyMy University Money

Sun, 11 Nov 2012 21:44:16 +0000

[...] Lynn @ Broke-Ass Mommy writes The Importance of Saving: Don’t Hack Down Your Money Tree – Even a little saved today make a big difference in creating a Money Tree. Start today, read [...]

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» Discover Card Flogged Me with a Gold Angel — Thu, 11 Oct 2012 16:43:37 +0000

[...] The Importance of Saving: Don’t Hack Down Your Money Tree [...]

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» Financial Lessons I’ve Learned From Scrooge McDuck — Wed, 03 Oct 2012 00:37:42 +0000

[...] The Importance of Saving: Don’t Hack Down Your Money Tree [...]

By: 120 Square Foot Home, 480 Square Foot Homes and a Carnival - Wealth Artisan

120 Square Foot Home, 480 Square Foot Homes and a Carnival - Wealth Artisan — Mon, 24 Sep 2012 12:08:26 +0000

[...] Lynn @ Broke-Ass Mommy writes The Importance of Saving: Don’t Hack Down Your Money Tree – Even a little saved today make a big difference in creating a Money Tree. Start today, read [...]

By: Carnival of Retirement – 38th Edition | Young, Cheap Living | Young Adult Personal Finance

Sun, 23 Sep 2012 17:39:34 +0000

[...] Lynn @ Broke-Ass Mommy writes The Importance of Saving: Don’t Hack Down Your Money Tree – Even a little saved today make a big difference in creating a Money Tree. Start today, read [...]

By: Carnival of MoneyPros | Master the Art of Saving

Carnival of MoneyPros | Master the Art of Saving — Sun, 23 Sep 2012 10:03:32 +0000

[...] Lynn @ Broke-Ass Mommy writes The Importance of Saving: Don’t Hack Down Your Money Tree – Even a little saved today make a big difference in creating a Money Tree. Start today, read [...]

By: mrsplungedindebt

mrsplungedindebt — Mon, 17 Sep 2012 14:11:28 +0000

This is great, we're just really getting started with our budget/saving etc and I'm excited about actually having money in the bank for the first time in years. Hubby and I make good money but never took budgeting as serious as we should have until recently when baby girl was born and I started mat leave. Me losing more than half my income is the best thing that's happened to us (along with her).

By: Glen @ Monster Piggy

Glen @ Monster Piggy — Sat, 15 Sep 2012 22:20:08 +0000

I happen to work with a couple of people who earn > 120K a year who live week to week / pay check to pay check. What baffles me is that they often complain about never having enough money, despite earning far more than the average person could ever dream of.

What I find to be the biggest issue for them and many others is that they don’t budget and never track what they spend. To me it seems obvious that if you are always short of cash you should really start to examine your personal finances. This is true for people who earn > 100K or people who earn 30K. If you don’t know where your money is going, how are you ever going to fix the problem?

The way I see it is that every dollar you spend has lost the opportunity to gain compound interest for the rest of your life and bring you that 1 step closer to financial independence.

Many people don’t realize that those little items that you routinely buy (chocolates/coffee/Chips/Alcohol/Smokes etc) which individually don’t cost a lot of money, can really start to add up.

Anyway, great blog post! I look forward to reading more of your articles.

By: Nurse Frugal

Nurse Frugal — Sat, 15 Sep 2012 13:08:37 +0000

I agree girl! People love to hack down their money tree and actually feel that they should be spending more than what they make! How does that equation balance? I don't know ;( It's all about increasing the cash inflow AND decreasing outflow!

By: My Money Design

My Money Design — Fri, 14 Sep 2012 20:07:13 +0000

You've really got a great perspective on this, and I wish more young people would adopt this method of thinking. Saving your money and the compounding effects from the return on investments are so important to your future wealth! To pass this up is simply a disgrace.

BTW – the cat picture with the symbols at the end of the text was very cute!

By: debtgirl

debtgirl — Fri, 14 Sep 2012 15:29:02 +0000

I can't wait to get some money put away. I need a savings now more than ever. Great advice.

By: DC @ Young Adult Mon

DC @ Young Adult Mon — Fri, 14 Sep 2012 07:49:23 +0000

Every little amount saved helps. It's encouraging to look at my 401k every couple months and see how withdrawals have slowly built up to quite a bit of money. It takes these small savings over a long period of time to build true wealth.

By: MoneySmartGuides

MoneySmartGuides — Thu, 13 Sep 2012 12:00:49 +0000

I agree that saving little amounts does pay off. Most can simply look at their 401(k) as an example. It started off with nothing and through small deposits each paycheck grew into what it is now.

By: Jennifer Lynn

Jennifer Lynn — Thu, 13 Sep 2012 11:17:03 +0000

Hi Joe Morgan, it is critical for everyone to consider such issues during this tumultuous financial climate. Look for an update in the coming days which addresses some of these concerns.