FINANCIAL LITERACY - EXCUSES
FINANCIAL LITERACY - STORY OR NUMBERS

FINANCIAL LITERACY - A PENNY SAVED

I'm not a financial expert or a financial consultant. These are just some ideas I've learned and thought about. 

A penny saved is a penny earned  saving money  _Editing

 

My dishwasher died last week. It was one that came with the house when I bought it three years ago, and it was always just so-so. 

I did some research on prices for a new one, found the one I wanted from a local dealer that I like. I picked a Bosch, because I have had good experiences with their appliances before. The cheapest one I found was about $600 installed. That's not so bad. I could have chosen another, cheaper brand, but in the long run, I don't think that's a good idea. 

My short-term  financial goal  is to save or earn $5,000 by November 1st. I've already saved $2,000 by using my Piggy Bank System, and I've got the next few months budgeted. But $600 would take quite a chunk out of it. 

My solution? A $28 stainless steel dishwashing rack (with a draining mat and a wire utensil holder.) Initially, I bought a cheaper one, but it was too flimsy and I'd have hated using it. So I splurged on the one I liked best. 

I cook every meal at home, but usually it's just for me, so I don't accumulate that many dishes. Maybe I will  buy that new dishwasher next year, but you can bet that I will be using my Piggy Bank System to save up for it. 

 

Cost of dishwasher    $600

Cost of dish rack          $28

________________________

Money saved             $572.00

 

A penny saved is a penny earned. 

 

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