Comments on: Going Broke to Win Big! The Ultimate Way To Budgeting

By: Tushar@EverythingFinance

Tushar@EverythingFinance — Mon, 30 Jan 2012 12:48:22 +0000

I follow something similar as well. Paycheck goes in Checking, leave money in there for bills and groceries. Rest goes in a high-yield savings account. From there I have setup automatic payments where it goes into various investing accounts.

By: The Thrill Of Paying Down Debt And Having No Money Is Addicting | Financial Samurai

Mon, 17 Oct 2011 08:36:12 +0000

[...] time our backs are to the wall, we find a way to make things better. “Going Broke To Win Big” has been one of my financial tenets for a long time. I love the feeling of having no money [...]

By: Financial Samurai

Financial Samurai — Tue, 08 Mar 2011 22:36:45 +0000

Congrats for stabilizing your budget! Once we have a master overall budget, we Shoukd be able to play within the lines.

Thanks for stoppig by!

By: Sandra

Sandra — Tue, 08 Mar 2011 22:11:41 +0000

Hi there. Just found your blog. I did something similar several years ago. I was strapped for funds (single with two boys and going to school) and needed to get a handle on my finances. I don’t like surprises and they kept popping up wrecking my monthly budget.

A friend suggested that I take my annual, semi-annual, and quarterly bills, divided them by the number of pay checks in a year and deposited that amount into a savings account. I did this by direct deposit each payday into a credit union separate from my checking credit union. This was wonderful because finally my monthly budget became more stable.

I still needed an emergency fund and started another savings account for that. After reaching my emergency savings goal, I diverted the emergency fund money to paying extra on my bills which I paid off except for the mortgage. Then I diverted that amount of money into a permanent untouchable savings account.

I now have some stability that has served me well now that the economy has turned down. Keep up the good work. Hopefully others can see there are ways to establish a measure of financial security in a tough situation. This is a good plan. It worked for me.

By: The Average Tax Refund | Financial Samurai

The Average Tax Refund | Financial Samurai — Mon, 07 Mar 2011 11:02:03 +0000

[...] * Make it disappear. In other words, put your $3,000 into a savings account at another bank so that you cannot access it easily. Don’t go blowing your $3,000 on anything unnecessary, unless you’ve already maxed out your 401K and saved more than 20% of your income. Trust me when I tell you that your savings will grow immensely over time if you are disciplined. You’ll wake up 10 years from now and see $40,000 in the bank, just from tax refunds! Go broke to win big! [...]

By: Blink and Blink Again: Cultivating Unconscious Good Habits | Financial Samurai

Thu, 07 Oct 2010 14:13:49 +0000

[...] same thing goes for savings. If you regularly flush money out of your “go broke bank” and into your savings bank long enough, you’re also going to wake up one day and be [...]

By: Spending Too Much Money And Course Correcting | Financial Samurai

Spending Too Much Money And Course Correcting | Financial Samurai — Fri, 03 Sep 2010 22:24:20 +0000

[...] spending it. I failed to take that extra additional step, and transfer the money out of my “go broke bank” and to my savings [...]

By: The Emergency Fund Fallacy | Financial Samurai

The Emergency Fund Fallacy | Financial Samurai — Fri, 21 May 2010 13:31:39 +0000

[...] just making excuses for your spending weakness. Instead of creating an emergency fund, go broke to win big and lock your money away. If you have to create an emergency fund, you are scraping at the [...]