Monday, July 30, 2007

Saving for Yarn

Remember a couple of months ago I told you guys about my financial plan for my future? Well my boyfriend came up with a wonderful idea that I think may help not just knitters, but anyone with a hobby that takes up alot of money.

Nine weeks ago, Nathan (the BF) opened up an ING checking account. Apparently this is very new to ING because when we opened our savings account with them in March, they did not offer this service.

Long story short, my boyfriend loves photography (last post he took the pictures of my shawl). However, when you're poor, you can't donate alot of money to your hobby. So he opened the ING checking account so that he can fund his photography obsession.

When he told me about it last week, he suggested that I open one for my habit (knitting). So that's what I did yesterday.

And the great thing about this method of saving for yarn is that I can still access my money, plus this account accures interest (about 4.5%, just like the ING savings account). Lastly, I automatically save as much as I want every week because it comes straight from my other checking account.

I'm glad I got the account. I see this new account not just as my knitting fund but also my "Just for Fun" account. That means lets say I want to get a pedicure or a massage or do some other leisurely activity not in my budget; I can use the money I saved for that purpose. It's great!


I have been knitting on the bag, but if I had taken a picture of it, you guys would have thought I was lying. So here is a picture of a simple sock:

This is the first sock to a pair for Nathan's Auntie Dee. The way this sock is going (84 stitches around with 9 stitches to the inch as gauge), I might finish it by September, which is perfect because that's when it starts to get cold in Saskatchewan.

Well, that's all for now. On to more job searching!


del said...

Great idea, saving for yarn! Or just saving in general.

I think you can definitely finish those socks by September.

Lavender said...

That's a great idea. I did something similiar when I was saving up for my spinning wheel but I like the idea of a "just for fun" account.