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Old 02-07-2006, 07:05 AM
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Default Re: Savings Rate Goes Negative

I agree with coffeebreak. when I was young, I would save, but the money got used for emergencies and never seem to grow. When i discovered mutual funds, I just had $50 a month taken out of my checking and (really $150) and put into three different mutual funds. They really grew and I have not touched them since I started them in 1988. I also take the profits from our spec houses and save that in an interest bearing money market checking account.
I think most people don't realize that even a small amount of savings, done weekly or monthly, can eventually turn into a good sum. Even when I was a kid, working for 33 cents an hour, I managed to save something every week.
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