quarter hundred
I have $25.00 in an account that I set up with ING that’s ear-marked "My Own Home."
I’ve been with ING for a couple of years now, and for most of that time, I didn’t know if I could create separate pots of savings for separate and distinct purposes. As I began to read the personal finance blogs, I discovered that people were doing this, but nobody was describing exactly how. Then I stumbled upon one blog (I wish I could remember which one) that said that all you have to do is open a new account. I’d seen that link before, but the words "open a new account" led me to think that I’d have to start a registration process all over again - not true. Since I was logged in, ING already knew who I was, so it simply created an account for saving that was linked to all my existing personal information, my existing ING savings account, and my existing linked checking account. The new account does have its own number, but it’s all connected, and I didn’t have to link it to an existing checking account and confirm deposits like I did with my first account with ING.
I started the account with $25 from my existing "Emergency Fund" account with ING (I still have over $1,000.00, which is my minimum e-fund amount, in that account.) This was an action of faith. My most treasured goal, after killing my old credit card debt, is to get a down payment together and get a house before New Year’s Day 2009. I want to ring in the new year in my new house. I want this to be more than a dream, so I have committed $25 to making it a plan instead of a wish. I will continue to use the bulk of my discretionary income to pay down my old credit card debt, but I will regularly contribute some nominal amount to the "My Own Home" account. It’s about keeping my morale up, and backing up my words with deeds. A quarter of a hundred dollars isn’t a fortune, but it’s more than zero, and as it grows, the distance between me and my own home will get shorter and shorter, even if it’s only $25 at a time. When I’m done slaying the credit card debt dragon, I won’t even have to start from zero when getting my downpayment together - that little boost will help a lot.
