Decadize your Savings
By Arya
@yoalldudes (35040)
Philippines
October 22, 2020 8:46pm CST
I searched for the word and it is not in the dictionary. Personal finance bloggers always speak of annualizing your savings so you see the impact.
A $20 savings on coffee monthly doesnt amount to much. But in a year it is $240. I took it up a notch and think of the savings in a decade and it is a whooping $2400. Ha ha I hope my Math is right.
I have learned that it is possible to have life satisfaction in old age. So there a certain skip to my step, a certain delight in life. So it makes sense to save for the future.
6 people like this
8 responses
@arunima25 (85719)
• Bangalore, India
23 Oct 20
Every single penny saved counts. It seems very little but accumulated over a period of time it becomes big
1 person likes this
@arunima25 (85719)
• Bangalore, India
23 Oct 20
@yoalldudes It's a right saying that slowly the snail fills it's tummy
I was so happy to see that my online earnings saved over a year and half could be so much.
I was so happy to see that my online earnings saved over a year and half could be so much. @yoalldudes (35040)
• Philippines
24 Oct 20
@arunima25 That is inspiring story. I wish I can do more with mine
1 person likes this
@yoalldudes (35040)
• Philippines
23 Oct 20
Yes, it amazes me. I used to ignore pennies.
1 person likes this
@porwest (78759)
• United States
23 Oct 20
It is a fantastic way to think of it, whether or not the word exists. The concept is certainly spot on. Now, consider actually still spending that $20. But instead of buying the coffee you put that $20 into a high yield investment. Now consider compounding. That $2400 actually becomes closer to $5000 with compound interest applied.
1 person likes this
@porwest (78759)
• United States
24 Oct 20
@yoalldudes The more you understand about how money actually works, the more money you actually wind up with. Onward and upward and best of luck to you.
@yoalldudes (35040)
• Philippines
23 Oct 20
Wow, this gets even more exciting. Thanks for that follow through. Now I am becoming even more motivated to work on being better financially. It now seems doable.
1 person likes this
@ShyBear88 (59303)
• Sterling, Virginia
24 Oct 20
@yoalldudes thank you! I an trying to save up to buy a bigger house we don’t own the place we live in so it be nice to get a places there fits our needs on the future
@yoalldudes (35040)
• Philippines
23 Oct 20
I once read. "You wouldnt want to be the richest man in the cemetery", or something to that effect. So I guess a balance between enjoying some comforts and joys money can buy but like you said, save.
@yoalldudes (35040)
• Philippines
23 Oct 20
Especially in old age when in case we can earn no more due to health issues or something like that.
1 person likes this
@Butterfingers (66585)
• India
23 Oct 20
Saving does help and when we save we need to make longterm players
@yoalldudes (35040)
• Philippines
23 Oct 20
That is right. I will try to see my annual burn rate in 2021.
@yoalldudes (35040)
• Philippines
23 Oct 20
Especially when we are saving for something.
1 person likes this
@yoalldudes (35040)
• Philippines
23 Oct 20
It is a good saving trick I learned.
1 person likes this
