Todd Christensen Profile Picture
Staff Writer at Debt Reduction Services

Here’s a comment I left on a CNN Money post about a couple who have been living on half of their income for years and tout the values of frugality. Several comments referred to those not in a financial position (lower income, greater expenses, job instability, etc.) to have the luxury of such frugality.

Some even asked for specific savings tips for those with much more meager incomes. Here is my response:

For anyone not in the savings habit, we teach at Debt Reduction Services Inc that an “amount” is less important to begin with than just doing it regularly. If you feel that you can only spare $5 a month for your savings, do it. Even better, automate it. Three months later, once you realize you don’t miss that $5, then double it.


Try that pattern for a year, and you could potentially have $225 in savings and $40 being added to it each month. At $40/month, year 2 would see an additional $480 added.

The challenge is considering it an emergency fund, not a “deferred spending” fund as I used to in my younger days.

Is it easy? No. Is it a challenge? Of course. Is it worth it? Definitely. Best wishes!

Todd Christensen
Director of Education

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