Enjoy!

I love this posting that someone created. It says it all. It gets right to the point and leaves nothing out. Don’t over think it, and certainly don’t dismiss it as too obvious. Embrace it. Run with it. Share it. And above all else, be it!

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Fashionably Late

Yes, I missed the posting of late week, February 20th. I am not going to be too hard on myself, though. February 20th was my birthday so that day was super busy. And to aid injury to a busy weekend, on Sunday morning I received my second shingles injection (no, I don’t have shingles. I am trying not to get it) and the side effects packed a punch. Headache, body aches, unset stomach, injection site discomfort, etc. Needless to say writing four blog posts and publishing wasn’t high on my list of things to get done.

While I like to stay on task and schedule, life, especially illnesses, can intrude and alter those schedules. I guess the best and easiest remedy is to simply go with the flow.

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Coins When They Jingle

I just read a blog post saying to “blog every day.” Good advice. So, I am going to simply blog what I feel and want, as often as I can. Definitely can’t be every day, but often. It may be short and quick, or it may be long and involved, but I plan on doing as much as possible. Real Life may intrude, but then… I could simply write about real life… intruding. LOL.

This post is about a favorite subject: money. Second only to photography, writing, cars, Disney and Netflix. Not in the Master’s of the Universe way but in the “I need to manage, save or control my money better” way. So, I came upon an idea in two parts. The 52 Week Challenge and the micro investment app Acorns. I shall wait for the laughter to die down. Okay, I would guess that nearly everyone has heard of the 52 Week Challenge, but for the three people who haven’t, and at risk of boring those who have, I will go over it.

Simply put, the 52 Week Challenge is a strategic savings plan. It has three steps: 1) put money away each week, 2) start with $1 and increase by $1 each week ($1 the first week, then $2 the second week, then $3 the third week, and so on) and 3) continue steps 1 and 2 for (you guessed it) fifty-two weeks. At week 52 you will have a grand total of $1,378! Not a bad haul being that the most you will ever have to part with is $52!

Now for the drawbacks. If you put the money in a drawer, under the mattress or even in your saving account, you probably will be tempted to pinch off it as the need arises. And the need shall arise (in my Sunday preacher voice)! That was my biggest problem. Only one, in fact. Saving the increasing amounts was super easy, but keeping my hands off it was very difficult. Unexpected bills, child’s school fees, car maintenance, etc. There always seemed to be a reason to “borrow” some money from my creative savings. Of course, I would never put it back and catch up, so I just gave up. Enter Acorns!

Acorns is a micro investment app (with a $1/mo fee). It is nothing too intense, but a cool “get my feet wet” way for people to step into the world of investments. Yes, Fidelity, TD AmeriTrade and E*Trade are the ones most know even if they don’t invest because of commercials. There are many pocket change apps but I was introduced to Acorns by my wife so I started there. I did some research, checked the “problems/claims against” sites and when confident I started an account.

At first, I did not start an Acorns account for the 52 Week Challenge. I started it to have the pride of saying (at least to myself) that I am investing. But it was a slow go deciding when and how much to put in. Of course, they want you to set up a recurring amount to be “invested in your future” and they suggest a starting amount of $5/week. Remember, they are not priming you to take over Wall Street, they are giving you a way to invest a very comfortable amount and hopefully move on to bigger amounts.

The eureka moment. I decided to combine my once failed attempts at the 52 Week Challenge with my newly minted Acorns account. Yes, yes, YES! Now, I can do this! Let me connect the dots for those scratching their heads at my simplistic joy. Acorns is not a bank account, so the money is out of the house and not even down the street. Yes, you can hit the Withdraw button but when presented with the “it’s going to take 3 to 6 business days” and they have to “sell” your shares to make it happen, that is a firm wake up alarm for me.

So, to wrap this up for those of you still with me, in June 2018 I set up my recurring deductions and started my 52 Week Challenge. Personally, I love to open my account and see growing amounts so I decided to double my investments (So, at week 52 I will have a base amount of $2,756). Yes, I am a rebel! At this time, my 52 Week Challenge app (of course, there’s an app!) says that at my current point of 28 weeks, I have $406. However, my Acorns account says I have $993.46!

I know, that’s not an even double. Well, Acorns has what they call Round Ups. You attach a debit card to your account and set it as your round ups fund. When you spend $3.60 the account withdraws .40 for your investment account, rounding up your purchase. I choose to double my Round Ups so the account takes .80 instead.

Looking at an ending amount in the $3,000 range without breaking a sweat, it is the easiest savings plan I ever started. Three grand in twelve months. That’s Christmas shopping, a new Canon lens, a cruise or to just let it ride another year or two or three.

That’s it. It is an easy way for me to really save, and I enjoy watching the amounts grow. I have put my Acorns link below ($5 into my account if you sign up), as well as the 52 Week Challenge app that I use.

Warning: I make no claims or guarantees on the use, gains or losses on the apps, services or tip and techniques above. It is what I do and it works for me. It may or may not work for you or even make sense. Any use is at your own risk. Please consult with your family, an adviser, trusted friends, etc first.

Thank you for your time and Happy Investing!

Ronald Slaton’s Acorns Invite Link

Google Play Store: 52 Week Challenge app