Obviously, it’s been a looooong time since I last posted here. There’s no real reason why I stopped writing on HotFrugal… Life just kinda happened and I got busy with a new house, new job, new involvement with several local organizations, etc. Things have calmed down a bit, and I really miss writing, so I’m going to start up again. I’ll just go ahead and dive right in…
For a long time, I have been absolutely green with iPad envy. Two of my coworkers have iPads with fancy keyboard cases, and they (my coworkers) always make me jealous by showing off all the fun things they can do. Even my mother has an iPad, and she’s not exactly someone I would consider to be an early adopter of new technologies.
So, a few months ago, I started an iPad savings account in true HotFrugal fashion. I have an online checking account with ING Direct, and I also have several targeted savings accounts with ING. My emergency fund is kept totally separate with another online bank. I love ING because it literally takes about 30 seconds to open a new savings account, and you can have dozens of accounts at any one time. With a few clicks, I had a savings account named “iPad” with the goal to save $800 for the mid-range model and the keyboard case.
But then a funny thing happened… Over the past five months since I opened the account, I’ve only put $40 in it. Whenever I have extra money to save, I never seem to want to put it in the iPad account. Instead, I find myself wanting to put the money toward my general savings fund or toward one of my other “just for fun” funds. Today, it finally occurred to me that maybe I don’t really want an iPad all that badly, or rather, there are other things that I want more.
There’s a good lesson in this experience that I hope I will remember in the future. If I had just gone ahead and bought an iPad without deliberately saving for it, I never would have realized that I didn’t even want it that much in the first place. Fortunately, ING makes it easy to change the nicknames for savings accounts, so the iPad account is now called “Roth IRA Starter Fund.”
Viva la frugal!