Bryan C. Fleming

Welcome to the Million Dollar Savings Club.  For everyone who’s new to the club, you can learn more about it on my original post here.

This week’s standings are:

Bronze: $200
Silver: $400
Gold: $800

Now, if you’re playing along and check your ING direct online savings account, you’ll see that you actually have a little more money than what I’ve shown above.  That’s because ING direct is paying you interest to ‘rent’ your money.

As a Silver saver, I can tell you it feels great to have $400 in an online savings account.  Personally I feel that this is enough money to cover most of life’s setbacks.  If you’re used to having no money saved up, then having even a few hundred dollars on hand just makes you sleep a little better at night.  Even our Bronze level savers are getting into what I call a good “comfort zone”.  $200.00 can cover things like unexpected car repairs or an unusually high utility bill.

Have you ever noticed that people who never disciplined themselves to save money never have any?  No matter how much money they make at their job.

If you’re not savings money yet, you should really think about jumping in and playing along.  What’s that you say? You don’t have $200 to catch up to even the bronze level savers? 

We’ll that should be your first clue that saving money really adds up and not saving money leaves you with none.  Remember the Bronze savers only committed to $25 a week at the beginning of the year.  That’s about the price of a Star-Bucks coffee a day.  Now they have $200.

It’s better to start late than never.  Even if you can’t catch up to our Bronze level savers, you can still play along by reading my previous posts.  You’ll just be a few weeks behind.  It’s OK.

If you don’t know what an online savings account is, you can read my post where I show you my account and how I set it up.

Until next week, keep saving!

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