Is It Difficult to Save?

Why do we save in the first place? Maybe to buy a car, a house or for early retirement, but for whatever reason we all save for something.

But the question is, “Is it difficult to save?” I guess that depend on the individual. Some people believe you need to have a lot of money before you can begin saving. But I don’t believe that. I believe that if you have the will to save, you will find a way. If you wait for your wallet to get fat then begin, technically you are losing out. Because half of the time you are spending that money and most of the time you don’t even know where you spend it on.

So either way it is being wasted, so why not put some of it away. I’m not talking about a lump sum amount but more of a gradual thing. Most of us know the meaning of compounding. For those who do not, here is an example of what I am talking about.

Let say your initial amount is $500 and you put it in a traditional saving account with an interest rate of 3%. According to what my bank had told me, if the Fed have not cut the interest rate, it would have stayed 5%. Since this article is not about the Fed, I won’t put my two cents in.

The math would look something like this:
Initial: $500 * .03 = $15.00
Total: $515
Second Year: $515 * .03 = $15.45
Total: $530.45

It doesn’t look much now but over a longer period, you’ll see the difference. Hopefully you will continue to add money in each month and if you don’t, that’s okay too, only if you don’t withdraw prematurely.

Sorry to say this, most people want instant gratification but unless you win the lottery, wealth takes time to accumulate.

I find the easiest way to begin is to have the money automatically withdraw, this way you don’t even know it is missing. You don’t have to start out big, even $50 dollars is better than nothing. So I say to all of you, start getting fat money and happy saving…..

Written by Leah (Thanks)

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April 2, 2008 | Filed Under Money Saving Ideas | 3 Comments 

Want to be Happy? Give Your Money Away!!

Are you searching for a way to make youself happy? Search no farther. The answer is in your wallet. Money can buy you happiness, at least when you spend it on others.

A study conducted on 632 American men and woman and is published in the Journal of Science, found that giving or spending money for others bring more satisfaction then spending it for yourself.

The Detail of The Study

The study asked 632 American men and women about their spending. They found that the people who spend the money on others were more happy then people who spend the money on themselves.

The study then rate the happiness of 16 employees both before and after receiving profit sharing from the company they worked for.

Those who gave away their bonus were happier then those who spend it for themselves. This is true no matter how big or small their bonus was.

Finally, 46 college students were given an envelope containing either $5 or $20 and asked to spend it in one day. Individuals were randomly assigned to spend the money for themselves, or on a gift for someone else, including a charitable donation.

Those who spent their money on others reported greater happiness than those who spend it for themselves.


Happiness has been linked with wealth. Previous studies have shown that happiness actually remain the same with an increase in income. Even if you are making $80,000 a year, your happiness is the same as when you were making $40,000.

To boost your happiness, the study suggests you spend it or give your money to others. You might be reluctant to give away your hard earned money. Besides, you have to fight your way through rush hour traffic day in and day out just to bring home that fat check.

Don’t worry, you do not have to give or spend a lot of your money to others. The authors of the study suggest you could reach the state of happiness on any given day by giving as little as $5 to charity or anyone else you feel deserve to have your money.

So, if you ever want to add some happiness to your life, then go to your favorite charity and donate a little of your money. Not only will you be happy but you have done a worthily deed.

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April 1, 2008 | Filed Under Humorous and Odd Story, Money Saving Ideas | Leave a Comment 

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