I find a useful way to convey the incredible power of slient compounding is the doubling penny (1¢) illustration. If you double a penny every day for a month it will be worth over $10,000,000 by the end of the month! Granted this is 100% daily rate of return but it illustrates compounding's "super power" effect over decades in just 31 days. Check out the spreadsheet in the below link.
🤓💰😲
https://budgetsaresexy.com/penny-compounding-interest/
I’m with Jon. While I do look at my receipts and try to catch things, I find myself valuing my time as well. If it’s easy to correct, sure. If it’s not, oh well, go enjoy life as the hassle has a cost of both time and emotions. Good for you Jon!
Comments
I find a useful way to convey the incredible power of slient compounding is the doubling penny (1¢) illustration. If you double a penny every day for a month it will be worth over $10,000,000 by the end of the month! Granted this is 100% daily rate of return but it illustrates compounding's "super power" effect over decades in just 31 days. Check out the spreadsheet in the below link. 🤓💰😲 https://budgetsaresexy.com/penny-compounding-interest/
Post: Picture This
Link to comment from March 15, 2025
I’m with Jon. While I do look at my receipts and try to catch things, I find myself valuing my time as well. If it’s easy to correct, sure. If it’s not, oh well, go enjoy life as the hassle has a cost of both time and emotions. Good for you Jon!
Post: Getting Rolled
Link to comment from September 23, 2024