Little Black Book

little black bookAs if we haven’t emphasized it enough, nothing is more important than strategically planning your savings. But many of us see this as time consuming, tedious, or just not worth it. But we here at Dollar Investment Club are telling you that IT IS. And luckily for you, we have a simple but effective way to improve your ability to save, even if it’s just a dollar at a time.

The secret? A Little Black Book. No, not the type of “little black book” you’re thinking of, but a journal you can carry around day to day and keep track of every purchase you make. This will make you much more conscious of every purchase you make, because you need to make the effort to pull out your journal and write down how much you spent. Next thing you know, you skip buying that candy bar at the gas station, or you realize how much your spending on Starbuck’s coffee. If you can stick to this and consistently and accurately make notes, you’ll slowly but surely find yourself saving more money than you ever expected.

This idea is explored in detail by Darren Hardy, the publisher of SUCCESS magazine and author of The Compound Effect. He has applied this to many of his mentees and used this practice himself, even outside of finance! Taking notes on any of your actions can help you achieve your goals, whether it’s losing weight, getting ahead at work, or even writing a song. With the help of your little black book, you’ll begin to see small yet significant changes in your daily routine. Maybe you’ll skip the chips and replace them with vegetables, or you spend less time watching mindless TV and go for a run or read. These small changes aren’t going to show immediate results, but that’s the beauty of compounding, because over time you’ll see the biggest and best changes of your life.

But the Dollar Investment Club is focused on one thing: helping you save money! So when you start keeping track of your purchases and cutting out all the impulse and unnecessary spending, you’ll soon realize you’re saving enough money to start saving up with us. As you’ve probably already seen, just by saving $100 a month and earning 8% per year, you’ll have $59,000 in 20 years. So what are you waiting for? Get your little black book, set your goals, and start making changes!

Inspiration

“Open your eyes, look within.  Are you satisfied with the life you’re living?”
-Bob Marley

“The lack of money is the root of all evil”
-Mark Twain

“Success is the ability—to go from failure to failure—without losing your enthusiasm.”
-Winston Churchill

“It’s what you do in the present that will redeem the past and thereby change the future.”
-Paulo Coelho

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Disclaimer

Investment products and services offered through Leigh Baldwin & Co., LLC, and member: FINRA / SIPC. Investments are NOT insured by the FDIC or any federal or state governmental agency, and are NOT deposits or other obligations of, or guaranteed by, Leigh Baldwin & Co., LLC or its affiliates. Investments are subject to investment risks, including the possible loss of principal value or amount invested. The investments have no bank guarantee.

Projections and forward-looking statements regarding estimated investment outcomes are based on assumptions that we believe are reasonable at this time. However, actual results may vary materially from stated expectations, and we make no guarantees of the future performance of an investment in our accounts described on this website. The performance results do not reflect the deduction of other fees or expenses a client may incur in the management of such client’s investment advisory account. A client’s return with respect to an investment would be reduced by any fees or expenses a client may incur in the management of its investment advisory account. Please contact us to learn more about our fees. Past performance is not a guarantee of future results.

All comments contained herein are for informational purposes only and should not be considered as a solicitation to buy or sell any security. No advice may be rendered by Leigh Baldwin & CO., LLC unless a client management agreement is in place. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from its usage.