This is a sponsored conversation written by me on behalf of Varo. The
opinions and text are all mine.
Saving money is not something that just comes naturally for me. I am a mid-thirties mother of four with student loans, a mortgage, a car payment, and expenses that come along with extracurricular activities for the kids. Just listing those items out loud can feel overwhelming!
As of recently, my husband and I have been working hard to reach a goal of living a debt free lifestyle. We have been buckling down on our budget and only spending on the necessities. The rest has been going to our larger bills in order to get us to that big financial goal.
Setting the budget was not easy and living a penny pinching lifestyle has been an adjustment, but we know that doing this now will payoff in the future. Something that I have learned along the way though is to have that small savings stash for the “what if” moments that life throws at us.
There is always the fear of the unknown and the factor of what if something happens that we did not account for in our budget. I am not talking the catastrophic what if, but more along the lines of the washer or dryer dying on us mid-cycle or our garage door needing replaced. In order to cover us in an event like that, I started to save change and dollar bills here and there.
When I purchase gas or groceries with cash and have left over change I put the coins in a jar in the kitchen. I also started to save at least one $1 bill from my cash transactions. I simply drop it in the jar or put it in an envelope and forget about it.
A small habit like that doesn’t seem like it would pay off, but for us it definitely did! As much as I promised my younger self that I would never drive a minivan, here I am years later deep in this mom life… driving a minivan! Thank goodness for all of the awesome features of this vehicle that I could not live without and for it’s reliability! Without that I don’t know where I would be today.
Although it is a reliable vehicle, situations of the unknown still occur and in our case, that situation is a popped tire. One beautiful, sunny day I was driving along with my youngest two children, singing along to kidzbop when I heard the sound of the flat tire. Talk about a real buzz kill! I pulled over on the side of the road to assess the damage and unfortunately it wasn’t just a flat, the tire had been penetrated and popped by a piece of metal. The hole was too big for just a patch.
At first I sorta panicked, wondering how I would pay for this unexpected expense when I had just sent out a slew of bills. Lucky for me though, I had my little “what if” savings stash waiting for me in the kitchen! I had enough saved up to cover the tire, the tow truck fees, and even a tip for the driver!
Saving can be hard, but it doesn’t have to be impossible. If you are someone that doesn’t typically use cash, but would like to create a small “what if” stash like I did then I have got news for you! Varo offers a really cool feature called Save Your Change. It is an easy way to stash some money in your Varo Savings Account when you make purchases. Varo rounds up to the nearest dollar on eligible transactions and transfer the change from your Varo Bank Account to your Varo Savings Account.
With a feature like this, I have a feeling my “What If” fund is going to grow exponentially this year! Click here to learn more!
If you feel you could use some help with saving, a great place to start would be with Varo. As a “cool mom” I find a banking app to be super helpful and convenient. Everything I need is right there on my phone, which I have with me at all times anyway. The Varo app is available on iOS and Android.
Any chance to save for the future should be taken advantage of and unlike big banks that charge you for almost every single transaction, Varo is totally fee-free. By avoiding fees, you’re already ahead of the game.
Varo also offers fee-free, high-yield savings accounts that don’t require a minimum balance and automatic tools help you deposit money into your savings without thinking about it. Varo pays one of the highest Annual Percentage Yields (APY) of any other bank in the country!
Kickstart your financial future with a Varo Savings Account. No fees, early direct deposit, auto savings tools with high interest rates help you see all your money in one place. Check out www.varomoney.com.