How do you save money!

[Kelt]

Originally Posted by Ascot

I will readily admit that I am fairly lousy when it comes to saving money on my own. I've tried different things over the years without much success, so I finally bit the bullet and opened a Roth into which I funnel $500 a month. As things stand now, the maximum contribution allowed annually is $5000, so for two months I don't do that and put that money into what I have labeled my fun fund. I have taken to viewing my Roth as a lock box to which I don't have a key.

Hey Ascot, sounds like you're doing great. In 2015 it got bumped to $5500 and if you're over 50 (I have no idea how old you are) that goes to $6500. Viewing it as a lock box is smart.

My weak spot was in not taking advantage of opening an HSA/health savings account earlier. I'm starting this year, it maxes out at $3500 per year unless you are over 55 (which I will be this year), then it goes to $4500 so that I can "catch up" Oy!