Personal Savings is down again, making this the 21^st consecutive month for people pissing away their dollars on Starbucks and Luxury cars. Stats show that personal savings is around negative 1.2%, the worst seen since the Great Depression. I heard stories about the Depression from family and it did not seem pretty. However, folks were dipping into the hard earned money to pay for food, not cover the Lexus lease.

     Over the past 2 to 3 years, I personally have analyzed my budget and tweaked the extras. I bought a coffee maker for the office, always (did) bring my lunch and make sure my phone/cable programs are the lowest they can be. I think twice before buying that new outfit or going out for that fancy dinner (cutting carbs anyway). I drive a car that costs a lot less than my neighbors, but I have no loan.

     What are you doing for your savings account? I suggest you sit down and do an income and expense sheet. Look at the hard costs (living) and the soft costs (playing). Really look at those credit card charges and see what you should not have bought. If you cut out buying lunch and coffee every day for a month, what would you save? If you went out on a Saturday night and chose a less expensive meal, would it taste less or better? Keep track of your spending for the next two months and see what you can cut out. Whatever you save put in your savings account. It is found money!! You will be surprised at how much you can save.

I welcome all comments and tips from you on how our readers can save more this year.

– Dale Siegel