Saturday, May 26, 2007

Million Dollar Savings Club update

I started the Million Dollar Savings Club thanks to Bryan C Fleming a couple months back. A simple idea of automatic savings done weekly to an online account that yields about 5% interest. I've been saving $50 a week and it automatically gets transferred every Friday. I use this account as my "mid-term" savings in case of any type of small emergency. This is the same account that I used to pay for my online appraisal class. As of this day, I have $536.21. It feels great to have extra money and the best part is that I don't remember even saving it. All I know is that I must have at least $50 in my bank account every Friday and I let them do the rest. It really is a GREAT way to save. At the end of the year, you'll have saved around $2,500 at $50/week. I would like to be saving $100/week and I will start doing that once I get all my debt down which is on track for 2 more years. At $100/week, that's over $5,200 in savings by Christmas time. If you would like to read more about the Million Dollar Savings Club, please visit

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