This 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:
- Setting up a new account: this shouldn’t be a brick & mortar location…perhaps seeking out an online back to compare rates.
- Determine the dollar amount you could easily transfer everday between 1 & 10.
- 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