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How to Get What You Want

By on May 4, 2012 in Saving Money | 5 comments

Let’s face it, we all want stuff in life. I want to get a new pair of running shoes after I just hiked the Grand Canyon and my old ones didn’t work out so well for me. It seems like almost every week there is something new I want, whether a big item or a small one. So how do we get what we want in life? We determine how much that item is going to cost and save for it.

Let’s say you want an iPad 2 and it is going to cost $400. If you do a budget and you have $100 of extra cash per month, then put that in what I call a “Countdown” fund. Every time you put money in, it is like you are counting down until you get to zero. When you’re there you have enough money to get what you want. In this scenario, it would take 4 months and you will be able to play Draw Something with your friends on your new iPad 2.

What about putting it on a Credit Card?
Well, the average credit card rate as of May 2nd is 14.91%. I don’t know about you, but I don’t want to pay 15% interest, EVER. Also, there are several studies that show people spend more by using a credit card versus paying cash. There was a Dunn and Bradstreet Study that revealed people spend 12-18% more by using a credit card. Cash is th best way to go.

Conclusion: Pay cash and put it into a Countdown fund. You will get what you want every time with this method.

What is something that you want, that you could save up money to get?


  1. Countdown fund sounds promising. What I do is I get percentage of my paycheck and put it on a separate account. So whenever I wanted something, I’ll have a ready money for it.

    Moment Matters

    May 4, 2012

    • We actually do something very similar to you, accept instead of a percentage, we put a specified dollar amount. So for instance, we put $50 per month into a countdown fund for Christmas. This way when we need to buy gifts in December, we have $500 by then to buy them. Thanks for the feedback!


      May 5, 2012

  2. I LOVE the idea of calling it a countdown fund! We are saving for a car (have been for a year already) and sometimes it feels like the “prize” will never come. But counting down to it… maybe it’s just psychological, but who cares – that’s much more fun. Thanks for a great, practical suggestion.

    Adriel Booker

    May 4, 2012

    • Thanks! It took me a while to come up with a name for it. I wanted it to be something that was motivating, so I am glad that it has that connotation. Glad to hear that you’re a saver. I am sure that you will appreciate that car so much more after all you been through to save for it.


      May 5, 2012

  3. Hi,
    I realize that you posted this a while ago, but I only just discovered your website yesterday.
    Another advantage to saving like this for something like an iPad, is that by the time you have the money saved, the price will probably have gone down or someone will already be selling it on craigslist or something for cheaper.


    February 14, 2013

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