Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


03 November 2008

Contest - Chipotle gift cards ---- Deadine for submission Nov 16th, 08

Okay, let's start with some fun. I have 2 Chipotle gift cards to give out this month. I am looking for the most creative answers to these two thoughts. With the holidays coming up and debt being such a huge issue - let's see what we can do for holiday gift giving on a shoestring budget.

1. Tell me about a free or low cost idea for gifts this holiday season.........

2. What financial or lifestyle changes have you made since learning about saving now!

I would love to hear all things you are doing - but if someone has come up with outside the box ideas -- that would be awesome. The best way to respond is on the comment link on the blog. But if you prefer you can also email me your thoughts.

Tomorrow i will have more information on student loans, repayment and options for people thinking about college options.


zac_attack said...

The best (and most thoughtful) holiday gift idea: make something! My girlfriend of two years and I hand-make each other holiday cards. They can get quite elaborate, with glue, pop-ups, and other odd things. Total cost is usually $0-$5 dollars, and it is the most heartfelt gift we exchange each holiday. For my parents, I write a letter expressing my gratitude for all they have done for me that year, and share with them a list of goals I hope to achieve in the coming year.

About saving: If your savings acct. interest rate is lower than the rate of inflation, your money is worthless. At some point you have to put that money to work in the market to get a higher return. Save a base lump for emergencies and put the rest to work, either in a higher-yield CD account or through a financial investment strategy. Personally I use USAA and have great success.

Vince Frascello said...

1. A great low cost idea is to give the recipient a "ticket" to a night out. This ticket is something you make, and is good for a home-cooked dinner, and some event to do afterward, such as ice skating or visiting a museum. This way you don't have to spend a lot of money on dinner and a movie, or buy some item that nobody needs, but rather, have an enjoyable memorable evening.

2. I learned the truth about saving lies in the numbers. The earlier you start to save, the more money you will make. I have tried to reduce the amount of times i eat out and rather cook more meals. This way I save a considerable chunk of money.

Ace said...

1. I like to think of myself as the master of creative (and inexpensive/free) ideas so lets get to work. One that is always fun and you can do together is go on a picture date. Just go out, whether it is where you live or drive somewhere and bring a camera and some PB&J sandwiches. Take pictures of the area, each other, and the oh so adorable lets squeeze really tight and take a picture of both of us at the same time. Also its fun if you set the camera on a timer and make funny shadow pictures. This can also be done for a friend or family member, but for them I would go a different route. For them I would probably do some type of card or gesture that shows them how much I appreciate them because I'm pretty absent minded in telling them as much as I should.

2. Well apparently despite the lesson being taught many times after I heard it again I decided to overdraft my bank account just to make sure the message sank in. After that I have only spent money on gas and food once and just make due with what I have. It's way easier than I thought it would be!

Stefan said...

1) I like the low cost gift ideas. One year I bought candy bars and lottery tickets for my entire family. I wrapped them up and let everyone choose from the pile, and whatever they won on the lottery ticket they got to keep. Plus who doesn't like chocolate. I think I gave those to about 15 people, so my whole family got gifts from me for under $30.

2) Start early. Best phrase in the business in my book. How can it not be when interest builds exponentially over time. If you can get into a Roth account even better, because the interest is TAX FREE!!!!!

noelle said...

1. I like to make gifts for my family (especially for grandparents that don't need anything). One of the best ideas I have come up with is to make a box of memories. When I was younger I spent a lot of time with my grandparents so I wrote all my favorite memories on pieces of paper and put them in a pretty box. Both my grandmas have told me that they read them all the time and it makes them smile. I was glad that something so simple could have made such a good gift. Beware - you may provoke tears...

2. Since I've had some savings lessons, I put way more in my 401K. My mom would actually freak out if she knew I was putting in 15%. She still thinks in terms of pensions, but that world is no more. I want to me a millionaire when I retire. :)

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