No Amount Is Too Small To Save

Lots of people get their hands on small amounts of money (5 or 10 bucks) , but not everyone saves these smaller amounts.  Why not?  For some people its because it seems like too small an amount to really influence our financial future.  We think, “Whats the point of denying myself a lunch sandwich, a coke, or a coffee?  Its not like an $5 or $10 is going to make me a millionaire.

But, consider this: even if you increase your income by $200 each month, in 25 years, given an 8% return your money and an average inflation rate of 3.1%, you will save an additional $72,000.  So never underestimate the power of each saved dollar.

James Hendrickson

James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.