This post comes from J.D. Roth at partner blog Get Rich Slowly.
Ralph sent me an e-mail recently describing a clever budget trick he picked up from a friend:
My wife and I had dinner last night with a couple of young women we know. We talked a little about personal finance. One of the girls has an interesting idea on forced savings. She calls it "reverse credit."
"When I want to buy something expensive, I go to the store and buy a $20 gift card," she said. "I save these up. When I'm ready, I take all the cards and go get my new thing."
I think this forced savings plan is brilliant, and told her so.
I've actually been doing something similar.
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