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I think I can save a $1.00 a day.

post #1 of 6
Thread Starter 
I was just reading this clip from the Dollar Stretcher newsletter and it shows that stats of saving $1.00 a day and I got to thinking, I can do that! This will be my own personal money and I have to find creative ways of saving it! Could be fun -- could be one nasty year as well!

Maybe I'll see about putting a ticker on here!

Any suggestions on how to do it?

Here's part of the clip that I was interested in!

This is the time of year when many people take stock of
themselves and their future. So alongside your plan for a
trimmer waistline, we'd like to suggest some financial
resolutions for the new year.

Resolve to save at least $1 each day. It doesn't seem like
much, but it does add up faster than you might think. You've
probably seen the numbers before. Let's assume that you earned
10% per year on your savings. That's the long-term average for
the stock market.

At the end of 10 years, you'll have nearly $5,000. After 20
years, you will have accumulated over $20,900. If you start at
age 30 and keep it up until you're 65, your measly $1 a day
will have grown to $99,000!

So how will you save $1 a day? How about bringing soda to work
instead of hitting the vending machines at break time? Or skip
the "supersize" at lunch. If you can't think of something, ask
your friends or family for their ideas.
post #2 of 6
Very interesting, mel.
I don't tend to spend on frivolous things, like the $1 a day in the vending machine (even though I could, it's less than 10 feet away from me right now..lol), so I couldn't really "save" there. And I bring my lunch to work, 9 times out of 10, but that 1 time I don't, costs me at least $5 every time. So, I guess I'll resolve to only do the lunch out once a month, instead of almost once a week. That would probably be close to my one dollar a day savings.
I'm not really a spender by nature, but do need to save more....this should make me think a little more before I say "sure, let's get chinese" for lunch at work....lol.
post #3 of 6
ING Direct has a great autosavings feature. You could just do it $30 a month into a seperate savings account. We have cut back on savings for debt reduction but I think I should be putting something in there.
post #4 of 6
Why stop at just 1 dollar though? Whats stopping you from changing a small habit and saving even more? I mean there are countless ways to save money at home, while driving to work, while shopping et cetera. Stop buying that extra pop drink, kick out the chocolate bar from your shopping bag, heck you can save some money and be healthier at the same time. Maybe it's time to kick the coffee addiction.
post #5 of 6
i can do this, I need something that starts me off in small steps and this would be great...
THANKS
post #6 of 6
I would like an opinion...
where do you get today in age, 10% back???
im really don't know about stocks, bonds and all that.
all I know is that in my 401k i got 2% (that's nothing)
where can i get free advise?
or where to put my $$$ to get a higher % interest.
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