Money Challenge 2016: Week 8
Today is my big brother's birthday, and mine is just a week away, and it really got me thinking about the idea of saving over time...and how this money challenge can really help you save big if you stick with it!
Let's break it down:
Every year that you complete the money challenge, you wind up with $1,378.
Say you decide to give that money to your child. If you do the challenge every year, on their 18th birthday, you'd have $24,804 to give them. (Nice gift!)
Sure, it gets harder to do for each child if you have more than one, but even $24,000 is a good amount for them to share!
And to keep it going? If someone had started the money challenge for me as a kid, and I had kept it going until now...on my birthday next week, I'd be looking at $42,718 in my savings account.
Don't tell me that's not an impressive number. How's that for motivation?