Me2 Money

Saving money for a house. It's tough, but I will find a way to save $20,000 to $30,000 for a down payment. Follow my blog and see how I am doing. I set the goal and now I must take action.

Tuesday, April 04, 2006

Getting Started

Ok now the blog is set up and it is time to get to business. The amount of money waiting to be found is beyond belief. In most cases most people just lose money dollar after dollar each day. It's the same everyday I say it, my friends say I read it on the web "I just don't make enough money".Well you do I do we all do. It's what we do with our money that truly answers this question. In most cases we all spend beyond what we earn. This is the most common mistake and the one that gets us in the most trouble especially if we use credit in addition to paying in cash. Now let's look at this in a simple manner. What makes one guy a millionaire and another broke and living pay check to pay check. Well it's what you do with your money. I like the Star Bucks example, let's say you love your lattes and spend about $3.50 each day to enjoy this great beverage. I know I hear you say I do not drink lattes on weekend or holidays ok then let say in a year you have 300 lattes or coffees. That's about $1050.00 wow that is a lot of coffee. Now what if I bough a nice little machine to make lattes at home costs about $250.00 and about $6.00 a month for coffee for the machine. That's $72.00 trust me you can get some good coffee for this price or even lower if you shop around. So now I saved $728 after the one time cost of the machine and the coffee supply for the year. Do you know what you can do with $728 each year. So if you put $728 and get 3% and add $728 each year Over a 12 month period, you will earn $1,478.14 (investment + interest) that is $22.14 in interest alone. Sounds good to me and now look around how many other Star Bucks type non investments are you making. I know I have been making less and less non investments and I have started to see results.


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