(never be broke again)

HOW IT WORKS:

(1) You need a special place to hold your money (Siren Stash),
like:
an envelope
a small box or
a pouch.

Hide your envelope/box/pouch (let's call it a partner) where you don't see it.
It needs to be deeply buried or put away.
It needs to be an unused but safe place.

 

(2) You pick a small amount of money to put in your special place each time you get paid,
example:
if your amount to save is $50.00 (let's call it a hand)
then you take $50.00 cash each time your pay comes in and you put the cash in your box/envelope/pouch.

 

 

 

(3) Your commitment is not to touch this money until the time comes,
meaning:
Your Siren Stash is for things that come up suddenly where you need extra cash - like a trip, a special purchase and also for the unforeseen situation.

 

 

 

(a) Time
5 months (which equals 10 pay periods).
This way you are multiplying your hand by x10.
So 10 hands of $50.00 each would result in $500.00.

(b) Commitment
You may be familiar with a cultural tradition called susu (or partner)Β where people join together in a savings club and commit to contributing a certain amount of money either weekly, bi-weekly or monthly

At each collection time, one member (partner) receives all of the money (hands).

This happens every collection time (pay period) until all members of the group have received a payment.

This works because each partner commits to putting in their hand (making a payment).
It serves as a form of savings because the money stays in the susu until it is time for each partner to receive.

HERE, YOU ARE MAKING THE COMMITMENT TO YOURSELF TO PAY YOUR HAND EVERY TWO WEEKS.

The box/envelope/pouch serves as your partner.
You put your hand (money) into the partner every pay period.

You do not EVER take from the partner until 10 pay periods have passed.

(c) Spending after 10 pay periods
This is the good part πŸ™‚
You can:
spend all of your saved money,
spend some of it or
save it all (to always have money for the extra things you need or want).

(d) Start again the next pay period
Yup, you get to do it again!
This is your Siren Stash!

Once you master this habit, you can use upgrade your Siren Stash to a bank account or even anΒ  investment (like a brokerage account).

Continue this practice and you'll never ever be broke again πŸ™‚

Love,

Tatia Dee