When I talk to people about saving money, the conversation always goes one of two ways. One; The person is not saving money at all and gives me a list of reasons why they can’t save any money. Two; The person is saving some money from every paycheck, using the “pay yourself first” method (which is awesome, by the way), but when I ask what they are saving for, they give me a blank stare and say “savings”. Though I commend the person for saving money instead of blowing it all, I do think that having arbitrary savings is a complete waste of money. Money Without a Name is Worthless Lets say you have saved up $5,000 in your savings account, and it’s sitting there, rocking a sweet 0.04% interest rate. You have diligently saved for the last 10 months and have built a nice savings account for………..for……….something? You might … Continue reading →