Wednesday, August 23, 2006


The Million Dollar Savings Club Kick Off!

This post is an update to the Million Dollar Savings Club. If you are not familiar with this club, you can learn more by reading my post describing it.

Welcome to the beginning of the Million Dollar Savings club. I’ve been talking about this club for a while and today is the kick off. Now, you might be asking, what is it? Let me explain.

Savings in today’s age is at an all time low. People complain they don’t have enough money. Most people redline their finances, spending everything they have as soon as they get it. Then when something unexpected happens they turn to credit to ‘fix’ the problem. They incur more debt. Saving money becomes harder.

That’s why I created the Million Dollar Savings club. It’s an easy way we can all learn to save money together. Once you learn the habit of saving money your money problems will slowly disappear. When an emergency happens you’ll have money to fix the problem. You won’t turn to using credit cards. You’ll be able (maybe for the first time) to start investing money. You’ll grow richer each year. Ask yourself; do you have more money in the bank than you did a year ago? If not, you need to be in the club.

How the club works:

Well there are certainly no fees. It’s all based on the honor system. Here’s how to play:

At the beginning of each day place $1 in each of 3 piles:

- Savings
- Investing
- Give-Away

So to be in the club you must commit to $3 a day. I chose that amount because anyone can do this. Remember, you’re trying to build a habit. This new habit will feed on itself. You’ll have much more than $365 in each pile at this time next year. Just wait and see.

The picture above shows my 3 piles. Each pile today has $1 in it for a total of $3. Each pile is labeled, Savings, Investing, and Give-Away. I keep them right next to my bed so I can remember to add to them every day.

So welcome to your first day in being in the club. I put my $3 in, how about you?

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