I want to start tracking the money that our money makes separately from any other money we add. The Money Game will make you rich if it earns its own money.
Example: We keep the thermostat turned down and come in under budget on the power of bill. We add the difference to the Money Game. This was a cost avoidance. It helps and it’s great. We’re going to keep doing that. But it won’t make us rich. The most we could ever deposit would be George’s paycheck and a lot of it gets eaten by bills and everyday expenses.
Another example: I get paid $25 for jury duty. We don’t need it to pay bills so I put it in our Money Game fund. How many times can I do this? Only when I get summoned for jury duty (usually once every couple of years).
Another example: I buy a case of RTIC tumblers for $10.94 each and sell all 30 for $15. I used the Money Game funds for the purchase and all the proceeds went to the Money Game. How many times could I do this? As many times as I want as long as I sense the demand.
The last example is money made from money … I’m going to track those deposits separately. The first examples are great. If we don’t stay at or under budget, it doesn’t matter how much extra money we make. Trust me – I can find a way to spend it.
The last example is the best. As we learn to use our money to make more money, it has the potential to grow the most. Right now our fund is like a vegetable garden where we are just beginning to see the squash form. Once they mature, we can eat (spend) some and save some to get the seeds to plant more.
Putting it all together is the combination that wins. You start learning how to make your money work for you and it stays there to continue to work.
With that said, I have a power up to report. $0.94 interest, 0.74 under budget with fuel for the week and $25 we forgot to allocate in the new budget meeting last weekend. 94 cents gets put in the MMM category (Money Making Money) and the rest goes in the other (Other). The total deposit is $26.68.
Level Completed: 140 out of 251
Amount Deposited this month: $26.68
Total Balance: $4,694.22
Our Money Game fund has increased .6% so far this month.
$192.74 is needed to reach the next level.