Okay, The title is a little funny, and i've been hesitant to post this since interest rates on savings accounts are so pitiful... and have been for awhile...and I probably waste that much money and more every month from something or another... but its changing my finances.
I've been saving all those random Pennies and change i've been getting on all my little savings accounts at ING... But i haven't been just adding the money to my emergency fund or what not... I've been putting it into a seperate account. This month I earned $8.11 in interest so that account has a balance of $64.53... all from interest from this year and a bit from Nov and Dec of last year. $60.00 painlessly saved without any effort... without me adding money to it... just by saving the megar interest from my other accounts. and that's the whole point. I'm not going to add anything to it except interest... ever. EFFORTLESS SAVING!
So what is this mini savings account for? I call it my Wealth Builder account. Nothing ever comes out... only interest goes in.... and as that interest grows... it will earn interest too. In Jan the account earned a penny, febuary it earned a penny... you get the picture... This month the wealth builder earned a nickle...
I guess its my little experiment... but I think i'll end up with more then $100.00 by the end of the year!
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