You’ve probably heard the joke “grandma can pull anything out of her wallett, need $1000 let grandma look in her wallett, need an aspirin, a pair of scissors? Let Grandma look in her wallett.
It’s not that Grandma’s purse or wallet has magical properties. The truth is Grandma likes to be prepared. So when it comes to money, Grandma knows there is only so much and it has to so far. No one has a real problem with being out of cash overnight or for 1 day, but suppose you are on Social Security or a Pension. Your money comes once a month and that’s it.
How do you manage no money for 7 10 14 or 25 day? Don’t leave the house and hope you have everything you need. That trick usually doesn’t work, you will end up borrowing from someone. Now you got to pay back what you borrowed out of what wasn’t enough in the first place. Bummer.
Grandma’s don’t like to be stressed, so they came up with a simple system for dealing long months and short money.
Here is how it works. Grandma knows that if she can put away $165 every month and not touch it, that she will have close to $2000, $1980. But if she can’t do $165, she will do $85 that’s $1020.00, or she will do $45, $25 $15 or $5 dollars. The plan is to put away something every time you get paid.
Grandma has another trick too. She has figured out the if she puts aside $3 a week for each grandchild that she has. She will be able to give each of them $50 on their birthday and $50 at Christmas.
She will also have $50 left over from each grandchild that she put away for, she can do what she wants with the extra $50 multiply $50 times 3 5 or 7 grandchildren.
Grandma never spends it all, if she get $10 she put $2 in the back of the wallet.
Grandma does not hang out at the mall or go shopping just because. She knows that it cost about $20.00 to just hang or shop for no reason.
Now you see that Grandma’s wallet is not magic, she just knows how to work it.
More Grandma tips later.
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