Thursday, 7 March 2019

Leveraging Interest

Okay, so today is payday and so I get to shuffle cash around. 

It is my favourite day because I get to put my hard earned cash into my bank account and do what I please with it. 

My Long-Term Savings have grown to the point that I am now actually making money off the bank.

In that I pay $15.95 a month in “Bank Fees” yet I make about $20.00 in interest each month in my Long-Term Savings Account.

I typically put in only multiples of $100.00 into my Long-Term Account, because . . . it just makes for easy math and it looks neater.

Well, this payday I broke that tradition and put in an extra $40.00 . . . why? Because that was all it took to lift the balance of my Long-Term Account up to the next hundred.

It’s fun and I plan on doing this again in a few months, as every dollar that goes into savings has been doubly earned.

I am still on my drive to 20% and that will happen next payday (on the 22nd). It is just nice to see the banks actually giving me some cash for a change. 

All in the effort to help build my savings . . . and my dreams. 

As always: Keep your head up, your attitude positive, and keep moving forward!

1 comment:

  1. I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. Get Locksmith

    ReplyDelete