Making Bigger Commitments (Day 79)
November 9th, 2006 |
This post is part of the Million Dollar Savings Club. If you’re not familiar with this club you can read my post describing it.
A lot of you have been playing along in the Million Dollar Savings Club and asking, “When can we do more?”
We’re going to take some time today to talk about this and I’ll show exactly what I’m doing now.
In 79 days of saving a dollar per day you’ve seen a lot of money accumulate. You’ve also probably seen how hard it is to put that dollar in your piles every night. Some of you have even suggested that you should earn interest on this money.
When you’re ready to move on from a dollar a day into something more substantial I’d like you to open a savings account at ING Direct. What’s great about them is they will automatically withdrawl the money from your checking account each week. You set the limit. I do $50 per week and that may be too much for many of you. $10 will work just as well as $50. The real power with ING Direct is that the money comes out of your checking account each week without you doing anything.
ING Direct also is paying 4.04% on your money right now. They never charge a fee. There is no cost to you and I. They simply reloan our money.
In a future post, I’ll show you exactly how I set up my ING Direct account. I will show you how much money is in it and what this account is specifically for.
We will keep moving on with the Million Dollar Savings club at a dollar per day for the rest of you. This is only for those people who are ready to make bigger commitments. Saving a dollar a day is great. I have not counted my piles recently but they must be approaching $250.
To Open your ING Direct Savings Account Click here.
Next time I will show you how my savings account is set up. If you have your account ready to go you can yours up the same.
