Automatically Save Your Change (Finance Game #4)
August 7, 2008 – 6:00 am
Numerous banks and credit card companies are offering accounts that do this for you, and based on how much money most of us charge each month this “savings” can really add up. Although I’m not personally a fan of this game, I can see how it would help some people save who otherwise wouldn’t save any money. The key here is that you need to then use the “saved” dollars properly rather than just using it to pay off your credit card bills.
Some credit card companies claim that they’ve helped people “save” millions of dollars this way. Although I’m sure millions of dollars have been deposited into savings accounts using this method, I would need to see proof that these funds were actually used for good purposes, meaning for things other than more shopping or paying off the now larger credit card bills.
This is an easy way to save some money because it occurs in very small increments, making it unnoticeable. It’s also done automatically, which has been show to help all of us achieve our financial goals more quickly and painlessly.
Image Credit: esdras calderan
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One Response to “Automatically Save Your Change (Finance Game #4)”
very interesting site!! keep it up!!
By Euroangel on Aug 7, 2008