Home
>
Wealth Building
>
How to Grow Your Very Own Money Tree

How to Grow Your Very Own Money Tree

Okay. So money doesn't really grow on trees. Unless you plant your own Mighty Money Tree, that is!

Imagine that only a few moments ago you planted a young sapling in your back yard. You gave it just enough water to ensure a good start. Not too much, not too little. You even propped it up with a stake. You'll continue to nurture it, feed it, water it.

And with each passing year, your tender young sapling will grow stronger. Taller. Healthy. As it ages, your tree can better defend itself from natural predators. Even harsh weather.

Growing your savings account is similar to growing your new tree. Given lots of tender care, your savings account will become your Mighty Money Tree. Use the following tips to ensure a great start. So, grab your shovel and let's get planting!

Prop Up Your New Savings Account

To build an account you can enjoy for a lifetime, prop it up with nutrients to help it grow.

a) Feed your account with bonuses. Deposit money saved through cancelled subscriptions. Don't forget those unexpected windfalls, either.

How about money owed and paid back to you? Be sure to include these amounts, even if they're small. Small is great -- and very do-able.

b) Nurture your savings weekly with money saved from using coupons.

Do you buy items on sale? Take that money you saved and use it to grow your account. Tuck small amounts into an envelope. Deposit weekly.

c) Shower your fund with birthday, anniversary or holiday gifts of money. Refunds, too! This is money you normally wouldn't have had (or already spent.)

Remember, out of sight, out of mind!

Fiercely Protect From Natural Enemies

Just as you might spray your tree to ward off insects or disease, you must protect your fledgling savings account. It's precious -- and a result of your patience.

a) Avoid spending too much time with others who make it seem 'natural' to go through money. They may not give it much thought because spending is a comfortable habit for them.

But you actually have a plan. And you have the big picture of how and when you'll spend. You will decide the where and why of spending your money. Make your spending thoughtful.

b) Pace yourself as you spend your weekly allotment of money. If you run on $35 per week (for example), that gives you five dollars per day.

Stay just under that five, and you'll always be a few dollars ahead. You'll also be less tempted to tap your savings.

c) Practice 'tough love' with chronic spenders who repeatedly borrow your money. Give yourself permission to state firmly that borrowing your money is 'not' an option. Remove the stakes that prop up others' spending.

Say yes to protecting and taking care of your money. It will be there to support you, your family, and your true needs.

Promote and Maintain Healthy Growth

Small amounts add up big time, so keep money coming into your account on a regular basis. Keep it growing!

a) Remember 'why' you set up your account. Know your balance at all times. Keep your eye on the bigger picture.

Will it help you pay for a gently used car, eliminating future car payments year after year? Is it your 'freedom from working for others' fund?

b) Begin with one great strategy, and use it to create a steady stream of money to feed your account. Will it be a direct deposit through payroll?

Will you fund it by using only dollar bills, and setting aside all change at the end of each day? If so, scoop up your change and deposit weekly.

c) Each month, find a new, creative way to put more money in your account. Then find another method and repeat for a month. Keep the top three or four methods which seem to work best for you. Toss the rest, because you want methods that work for you consistently.

Need a starting point? Why not begin with spending ten dollars less at the store each week? Tuck your ten bucks into your savings account. It's simple, and it won't leave you feeling deprived.

Lastly, feel the wonder of knowing that your money tree will continue to grow. Like a faithful friend, it will remain at your side. Your champion in good times, a comfort in the rough patches of life.

It has the power to draw your dream out of the darkness and into the light. How long have you had that private, special dream? Only you can know.

Now, what would 'you' do with your own Mighty Money Tree? Plant one today! Prop it up. Protect it. Watch it grow.

About The Author

Author and ezine editor Darlene Arechederra inspires busy women to put the simple back in saving their money. Her complimentary newsletter serves up heaps of motivation with a unique, down-home style of writing. Join her today at http://www.ratraceremedies.com.

limousine Ackley .. Lockport Chicago limo O’Hare

In The News:

A virtual private network can help ensure your information remains security and your privacy remains intact. Kurt the CyberGuy explains.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Artificial intelligence-based cameras are giving air defense operators unprecedented capabilities in monitoring and protecting airspace.

Apple's iOS 18.1 Inactivity Reboot automatically reboots your iPhone if it hasn't been used or unlocked for more than three days, providing better data protection.

An inventor designed rooftop solar panels for a Tesla that draws solar energy while the car is parked, adding travel mileage without plugging in.

There are currently no laws governing what artificial intelligence can and cannot do with the information it gathers; here are 10 things to avoid telling AI chatbots to keep yourself safe.

A credit union with over 240,000 members recently revealed it was targeted by cybercriminals, resulting in a data breach that was part of a two-month attack by hackers.

Scammers have become skilled at creating convincing fake websites that can easily fool unsuspecting users. The CyberGuy offers tips to protect yourself.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

CAPTCHAs, which are used by websites to confirm whether users are people or bots, are harmless, but hackers are using them to infect PCs with malware.

Hackers recently leaked personal information of about 500,000 Americans and stole patient medical records that included lab results and insurance details.

The holiday season sees a rise in mobile shopping scams. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to stay safe.

Tech expert Kurt “CyberGuy" Knutsson says a VPN enhances online banking security by encrypting data and protecting privacy.

Beware of these six sneaky holiday scams. Tech expert Kurt “CyberGuy" Knutsson gives you tips to avoid falling victim.

Tech expert Kurt “CyberGuy" Knutsson reveals how to securely back up and factory reset your Android to protect your privacy and data.

Artificial intelligence is making life easier for cybercriminals, allowing them to create elaborate scams to trick people. Kurt the Cyberguy explains how to protect yourself.

Cut through all the digital clutter and delete multiple emails from your Android simultaneously. Kurt the CyberGuy explains how it's done.

Tips to prevent your holiday decorations from being stolen

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson lays out the immediate steps you should take if your phone has been hacked and your personal information becomes vulnerable.

Fraudsters are sending people bogus invoices through PayPal as part of a sneaky scam that is going around; here's how to protect yourself from being fooled.

A former Colgate-Palmolive employee was shocked to discover $750,000 had been drained from her 401(k) account. "CyberGuy" offers tips on how to prevent identity theft.

Electric vehicle maker Harbinger recently showed its electric delivery truck can handle icy roads with agility and stability in winter.

To make the busiest time of year more manageable, here are some tricks for tracking your packages, taking quality family photos and curating the perfect Christmas playlist.

Kurt "CyberGuy" Knutsson explains how to keep your online Amazon gift purchases a secret from loved ones or friends this holiday season.

How to Grow Your Very Own Money Tree

Wealth Building