Automatic Transfer

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cashThis concept didnt seem to be difficult at first, I was so wrong!  One thing proved beneficial: automatic transfer!

This concept was inspired by multi-billionaire & bestselling author David Bach. His theory involved saving the cost of a latte everyday. Lattes are kind of expensive.  They run anywhere from $2.95 – $4.15 on average. Interesting I thought.  Of course I had to add my10cents to it before implementing as shown:

  1. Setting up a new account: this shouldn’t be a brick & mortar location…perhaps seeking out an online back to compare rates.
  2. Determine the dollar amount you could easily transfer everday between 1 & 10.
  3. Once setup it pretty much takes care of itself…that is of course considering there’s a money supply in the initial account.

Naturally in 30 days, $1 saved would be $30…$5 would be $150 & $10 equating to $300. Seems easy enough right? Let me say it this way…everyday it gets easier. Being that this money isnt in my regular bank account its often forgot about.  After a week goes by, veiwing the regular account online and seeing money is depleting very quickly…where can I trim? where else can I cut back?

Everybody wants to be CEO…well, why not treat your personal life as business? Afteral, if you don’t do then who will? I have yet to meet anyone that enjoyed living scheduled paycheck to paycheck.  Meaning those that live soley off of a single source of income.  Not even the rich do that and somehow you think things will be different for you. Not so!

In an earlier post I mentioned the concept of $1k for every year worked.  Some would look at that and say there’s no way. Where’s your perspective? $1k a year equates to $83 a month.  Surely this is possible.  If not, it’s time to make some adjustments. Go back and read 4 Streams of Income.  Attend Youtube University! It’s free my friend.

The difference between a rich person and a poor person is perspective.

  • US President earns $0.76 / minute
  • Bill Gates earns $1.65 / minute
  • Save $1 = $30 a month / 0.00 (less than a penny)
  • Save $5 =$150 a month / 0.00 (less than a penny)
  • Save $10 = $300 a month / 0.01 (a penny!)

We all have the same amount of time each day. Ask yourself, how hard am I really working if I can’t save a dollar a day? $5? $10? Start today and add value to your minute with automatic transfer. #noexcuses

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