Thursday, October 26, 2006

Spend and Save at the same time!

Who says you cant start investing with a dollar? Well let me start by saying that a dollar is the main key to investing. There are alot of people who feels like they should be investing but thinks they cant afford it, well here is a solution to those who thinks they cant afford to invest.
Step 1) Start by going to the atm machine and taking out the amount you think you'll need for the week. I genearlly take out only 40, which is really low but can still pay for gas and little things here and there.

Step 2.) After step one, take your credit cards and debit cards out of your wallet and put them away, doesnt matter where, just not in your wallet.

Step 3.) Okay, the idea here is to pay for things only in dollar bills. So that way you can take the change and save it so later on you can put it into a jar.We're gonna call this your "Saving Jar". You will be surprised at how much money accumulates.

Step 4.) At the end of every month, take your jar and put it in your savings account.

When you look at a penny or a nickle, you think its pretty much worthless, but when you have a whole jar of em and you keep putting them in your savings account every month, it adds up. So it just takes time and patience. But what more you got to lose? This way you can spend and save at the same time, how much easier can it get?


admin said...

Hey Andy, I recommend checking out the Million Dollar Savings Club, by Brian Fleming...
great stuff...

Andy said...

Thanks for the info!