Anyone who watches this show on television knows that one can make a lot of money with the right answers. And with a little bit of smarts and some luck, quite a few people have indeed made a nice little extra spending money. Granted, some of the questions are so difficult to figure out, let alone give an intelligent answer to. But what I remember from my high school multiple answer quizzes, is that, when in doubt, go for the answer that is the longest. Often that is the correct answer, also on the TV shows. But if you don’t have the courage to do so, and merely guess, because you don’t want to lose the money you have already accumulated with the first easy questions, then don’t. Just quit at that point and walk away with money you did not have when you got there in the first place. That was EASY MONEY, right? But you say: How many people get selected to come down and play the Who Wants To Be A Millionaire game. What are YOUR chances of being one of those lucky people? Probably one in several thousands, right?!. So then, how can you get or save some extra spending money without appearing on a television show. Not being one of the lucky contestants on T.V., you must take a different approach if you want to get some extra spending money together. Should you put money in a savings account or open up a CD (Certificate of Deposit)?
Well, if you think that keeping money in the bank in hopes of earning some kind of interest income then you surely are living in a dream world. There certainly is no gain in doing that. Interest rates are at their lowest now and even with a substantial amount of money in savings, interest earnings are ridiculously low. And CD’s hardly yield any interest either. How then can you save any money for when you want to buy some big ticket item and don’t want to go into debt.
How I Saved For My Boyfriend’s 21st Birthday Gifts
My best friend Avery taught me how to do it, and I am now following her suggestions I am saving up for Ethan, my boyfriend, for his 21st birthday in March next year. The presents I have in mind for him are a bit pricey (it’s going to be his 21st birthday, so he deserves something special, you agree, don’t you). I know he will love what I have in mind for him. You see, Ethan is somewhat of a clotheshorse, so I am going to buy him a three piece suit which will look great on him. He has quite a few nice dress pants and shirts, but he does not own anything like a three piece suit yet. But I don’t have the money for it now so I will have to save up for it, and that is where Avery’s system comes into play.
Here it is: Avery uses “The Envelope” system. If you want the system to work 
then you must be really strict about it. Because if you don’t and are lax about being really committed to the system, then it won’t work. I started with it a couple of months ago and am already seeing the results of sticking to it.
So, I have three separate envelopes in which I put money every time I get paid, which is once a week. One envelope is marked “jacket and trousers,” on the second one I wrote “vest,” and the third one has “silk tie” written on it. I figured out how much I needed to save up for each present and divided that amount by the weeks that I needed to come up with the total cost of each item. I have given myself enough time to where I don’t have to forego my own essentials. I can still take care of my daily expenses without going into debt, because that is the whole idea of “The Envelope” system. I just put myself on a strict budget, which I have to admit, was quite a challenge in the beginning. I am just limiting myself to not going out to dinner as much. Dining in is not bad at all I found out. Also, I will forego buying those extra pairs of shoes that I don’t really need anyway. I don’t have to be like Imelda Marcos, wife of the late president of the Philippines whose closet housed hundreds of pairs of shoes. And for the time being I will give up going to the spa until I have all the funds together for Ethan’s birthday gifts.
Once I started on the system and saw the money “grow” in the envelopes, it became easier each time I added to the budgeted amount in the specific envelope. It is actually quite exciting to see the money “grow.” It gives me a sense of power knowing I can do this all on my own, without the help of any bank or other financial institution. Keeping my savings in my own hands, without having to keep it in the bank, where any interest earned would be negligible and almost insulting, gives me the satisfaction of having control over my own destiny. I now have saved almost the entire amount I need to buy that beautiful three piece suit for Ethan’s 21st birthday gifts.
No, I did not go on “Who Wants to be a Millionaire,” but I can tell you that I feel smug and quite happy with my own achievement in getting that extra money together. And having achieved that goal, I am motivated to continue saving with “The Envelope” system. I am triumphant knowing that savings is not as hard as it is made out to be.
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