Friday Round Up: A Savings Psycho & The New Chrysler

by Kristina on April 8, 2011 · 4 comments

Happy Friday DINKS! I hope that you all had a nice week, and now it’s time to get ready for our weekends.  This post is about saving for our goals and saving for no reason at all.  I have previously mentioned that I don’t believe in saving for no reason; however my actions seem to speak louder than my words. 

I guess we are always indirectly saving for something, since many of us will use our savings when we go on vacation or buy new furniture.  I always saved for a specific goal.  I always saved 10% of my savings into my Rainy Day Savings Account until I reached the equivalent of 3 months gross income and then I stopped saving.

My income recently increased significantly from my previous year’s income and I have been depositing the difference into a high interest savings account.  The account has no fees as long as I do all of my transactions online.  I didn’t want to spend my extra income because my previous income was enough to live on with my monthly budget.  So, for the last few months I have been saving the difference in my new increased income while continuing to live on my old budget.

Now I need a new television and I can’t bring myself to dip into my savings.  It’s totally weird because it is extra money that I have saved with no intended purpose.  However, now that it is saved I can’t bring myself to spend it.  I guess you can say that I have become a savings psycho.

Some people’s savings goal may be to buy a new car.  When I purchased my Honda Civic in 2007 I based my impulsive decision on the recommendations of family and friends.  If I were to buy a car today it would definitely consider buying the new Chrysler.  This decision is purely based on the current marketing campaign

I think that it is worth mentioning that the new Chrysler commercials are excellent, they focus on the elegance of the Chrysler cars as well as their design and the fact that they are Proud to be American.  The commercials feature the Detroit born rapper Eminem along with his hit song from the movie 8 Mile.  The commercials really focus on the fact that Chrysler is an American company and the cars are Made in America.

Here are some posts from around the web that discuss the savings strategies and goals of our financial friends:

  • Blonde & Balanced is saving for her wedding and the purchase of her first home.  While she is still 2 months away from the wedding and 8 months from starting to shop for her first home, she is currently on budget.
  • Clever Dude discusses the various ways to save money in his post Saving Money versus Avoiding Spending.   Just because we don’t spend doesn’t mean that we are saving!
  • Financial Samurai talks about his younger days of expensive nights out on the town.  Now he tells us how to have a good time on a budget in his post The Clubber’s Guide To Saving Money and Having a Good Time.

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{ 4 comments… read them below or add one }

1 Nicole April 8, 2011 at 7:26 am

I hate to break it to you, but most “American” cars are made in Canada or Mexico. Some are even made in South Korea.

If you want an “American” car make sure to check the label on the windshield that says where parts are from and where the car was assembled. And check at some Nissan and Toyota dealerships, I think you’ll be surprised.

2 Financial Samurai April 8, 2011 at 10:17 am

Hi Kristina – You got an old one of mine! How’d you find it? :)

Hope all is well!

Sam

3 Wade April 8, 2011 at 10:19 am

Nicole speaks the truth. My previous car was a 2001 Chevrolet Impala and it was manufactured (at least assembled) in Canada. Now, I own a 2006 Acura TL made by Honda and manufactured in Kentucky. In fact, the TL is only manufactured in the United States and is viewed as a foreign vehicle because the company is headquartered outsid of the US.

Anyway, I know how difficult it can be to spend money that you work hard to save on a TV. The first HDTV that I purchased years ago took me about six months of research until I felt that I was making the best TV purchase that I could, but still had a little guilt over spending the cash.

4 Kristina April 8, 2011 at 10:39 pm

I think it’s funny to note that at the end of the commercial it says “Imported From Detroit”.

Hey Sam,
That post of yours is one of my favourites!!!

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