Week 6: Interest Paid – Million-Dollar Savings Club
February 8th, 2007 |
Gaining interest on your money is wonderful feeling. Have you ever experienced it? Imagine getting money for doing nothing. It’s fun.
I don’t know about you, but I like getting money for doing nothing.
Let me explain:
At the beginning of the year a bunch of us set some savings goals. You can learn about them here. We’ve been playing along week by week watching our savings accounts grow. Today I checked my ING Direct Savings account and found an extra $1.03 deposited in Interest. ING Direct borrowed my money last month and paid me $1.03 for the privilege.
But what did I do? I went about my day. I didn’t worry about the stock market and I didn’t worry about the money. I was a loaner and not a borrower. I wonder who borrowed my $300.00 anyway? I wonder what they needed it for?
Certainly $1.03 is not a lot of money. But one day it will be $100 and then $1,000 and then more. Think about it. I will get more than $1.03 next month. Do you know what will happen the month after that? I’ll get even more money for doing absolutely nothing.
I can only imagine how excited the Gold Savers are. They probably got paid over $2.00 in interest last month and we’re all just getting started.
