RSS Feed

Stress Relief through Piggy Banks

How can we relieve stress through our piggy banks?

How can you do that considering the economy?

I was inspired by Dr. Oz article in Men’s Health Magazine.

Stress relief through financial security makes sense; there is nothing as stressful as not knowing what the future’s going to hold and wondering if you can financially afford to have a future is very stressful.

There are many ways that we can make changes to change our future; the first most obvious one is stop super sizing.  In America we have a super size mentality; we go through the drive through – small medium large extra large. How would you like your order and no matter where we’re going there’s always a question – small medium large or extra large and when it comes to clothing those sizes can go even larger.  We are a consumer nation; all around us costly and constant bombarding is always there.

It’s time for change; small change first; stop super sizing do you need the $80,000 car or will the nice $24,000 economy vehicle with amazing gas mileage do you just as well?  Do you need that large mocha frapuccino or could you go smaller or order a coffee and place that extra change into your piggy bank? Can you order a small instead of a large or super size and place the difference into your savings?

Credit cards – did you know if you use over 30% of your credit per card if it actually maybe harming your credit score? This little industry detail (that no one knows of) has created this monster of poverty that we see. It’s time to take a step back; it’s time to use our money wisely. Remember that it’s a voting tool and to put some of it away to ensure that stress is lower in coming years.

So – stress relief through piggy banks – I think the answer is actually fairly simple take your check and take 10-20% put it aside in something that earns some interest; stocks, bonds, real estate and let it be the beginning of your stress free piggy bank.  We often say that $20 isn’t enough to make a change.  I disagree $20 every 2 weeks into a savings account that then eventually moves into an investment account is the beginning it doesn’t have to be $1 million or even $1000 you’re $20 savings added to the next savings added to the next can be amazing I remember, when I was small, there was always this math problem and it was really hard to get my head around it.

Which is more being given $1 million or one penny the first day, double that penny the next day than doubled the previous days pennies and so on for a month?

It certainly looks as if $1 million is more than all those pennies added up because each penny is worth so little.

How could even a whole LOT of pennies be anywhere near $1 million?

If we think about this problem carefully, we will find there’s a surprising answer.  I’ve looked at this problem my entire life; it’s hard to visualize.

The first day you get one penny, day 2 you get to two pennies (thusyou have three pennies now) and the 3rd day you get four pennies, by day 5 you have 16 pennies added to the savings which adds to 31 cents.  By day 30 the total number of Pennies is 1,073,741,823 pennies!  yes that’s over a billion pennies!  If we divide that number by 100 because there’s 100 pennies in the dollar that’s almost $11 million!  $10,737,418.23 to be exact.

So take that $20 and put it in your saving; no now in 30 days it won’t be almost $11 million unless you follow the formula but it’s a start and everyone has to start somewhere.  Every little penny counts and when they’re all added up in the end – you have financial security.

Thanks for reading Stress Relief through Piggy Banks; have a wonderful week.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: