Becoming Rich Even With Low Income

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When we think of becoming rich, we normally equate it with the amount of salary one is getting. I normally hear phrases that he or she is rich because he or she is a manager or perhaps they are rich because they’ve got a business. However, fancy jobs or business does not necessarily mean one is rich. And you don’t have to wait on your next promotion for you to build up your millions. Your lack of position will not always equate to lack of wealth. It is possible to slowly build it even with a low income. You only need to do planning and some reorganization.

One way to build your wealth is to not define it in your salary bracket. All you need to be aware is your net worth. This includes not only your salary but also your assets and your debts. Hence, it is important that you increase your assets and decrease your debts. Here are also other ways for you to slowly build it.

State of Mind

It is hard to be rich when in the first place you don’t believe you can attain it. Remember what the mind can conceive the body can achieve. Millionaires that we know began their wealth journey with the affirmation that they will be able to earn this much and be rich in the future. I know it can difficult for us who lives paycheck to paycheck however if we dare to dream it, we can realign our efforts in order to realize it. If we have that as a goal, we can reorganize ourselves to realize it.

Plan

As an employee, we really need to plan our income and our money. That is why a budget is very necessary and keeping track of our expenses too. We might have larger salary by the end of the month however we normally use it to plan our next vacation or even asking what gadget to buy next. In this planning, we need to be proactive with our income. Spending money on things we want will not help in building our assets. Hence, if you plan to have more in the long run, start spending it to lower your debts, buy assets and even doing both. Budget your income that a certain amount or percentage would go here. Put away most of your money in building your wealth. True you may have expenses for yourself and for your family however do not deny the fact that you can still save even a little. This may be a hard process I tell you but your future self would definitely thank you for it.

Do it now

The earlier you start the better and the more you can be able to save in the process. Think about compounding interest. This can be your ally with regards to your investment. That is why, better ask your local banks on their varied investments they can provide you such as mutual funds, equity and more. You may also try stocks and trade it for greater yield. As such, there are many ways that we can put our money and make it work hard for us. In the end, this could give us higher returns in the process.

Let us start with the affirmation and the state of mind that in the near future we will have more than enough to sustain ourselves and our family. This will not be a walk in the park and this can be very hard to stick into. However, down the line, the payoff would be huge. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 13 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

The Week That Was March 23 - 29

Another week has gone by and can you believe it March would eventually end. How fast time is especially when you are busy and having fun. As such, let me give you a recap on what transpired for the entire week. Before anything else, let me say this, I miss doing this.

So here are the posts for the week!

Things To Do Before you Invest

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I am pretty certain that you are already geared with investing. After all this is one way to diversify our money and make our money work hard for us. However, before we invest, there are many things to consider. This is simply not something we can do just because our friends are doing it or other people are persuading us to do it. We need to be able to assess many things in ourselves such as our financial aspect and more so our personality. In order for us to know if investment is for us, better check the link to find out.


Your Investor Type

Image from economictimes.indiatimes

In the previous post it was noted to consider our personality before we invest. In this post, we tackled four different personalities with varied risk appetites. As a new investor, we need to focus ourselves in identifying just what our personality is with regards to risks and investments. This will help us align what would be the most suitable investment for us. We may be conservative, moderately conservative, moderately aggressive and aggressive.

52 Week Money Challenge Lifestyle

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Another 52 Week Money Challenge post! This time around we are talking about the challenge as a lifestyle. This means embedding this in our system. Hence, this entails more than a challenge. This is something I am definitely looking forward to all the challengers. That when they finish it up, it would be something they will do out of habit.


On Parents Fighting Over Money

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This post tackles about the effects of our parents that fight over money. This also suggest ways to tackle money and financial problems in the family. Remember, parents shape our personality as we grow. After all, we are the ones close to them. How they react to certain things can greatly impact how we see it as well as we grow. That is why, it is very crucial that parents will understand how fighting can bring negative impact to their kids most especially with regards to money.


3 Finance Tips I Wish I’d Have Known After Graduation

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Since it is March and our feeds are full of graduation posts and photos, might as well jive with the celebration with this post on the three finance tips I wish I'd have known after graduation. For the graduates out there, might as well read this post so it can help you guide how you will manage your future salary. These are pretty three simple things to begin with. And by the way congratulations!

So that's a quick recap of our posts for the week. Have a great day ahead and one great week too.

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 13 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

3 Finance Tips I Wish I’d Have Known After Graduation

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My social media accounts are filled with graduation photos and statuses. As a college teacher, I can’t help but be proud most especially to my students. They have made it through the course and I couldn’t be any prouder. Later this afternoon, I will be joining each and every one of them as they march to the stage and receive their diploma. Even if I will just be sitting there to watch them, there is that sense of pride and I solemnly pray that they will be able to reach their dreams and their heart’s desire.

Right after graduation, I was lucky to land a job I never thought I would get into. I was hired as a teacher in our local university. It may not be part of my plans since I so want to try the corporate field, I guess it was my calling. And after x number of years, I’m still here even though there are opportunities away from the academe and away from the city. This is where I belong. However, there are things that I learned financially as I’ve made my way through my career. And today, I want to answer the question as to what would I tell my graduate self I could travel back in time. I guess my whole financial life would be way different than today. And here are some of them.

Save Your Salary Early

I know we tend to get excited as we get our first pay check. After all, this is something that we longed for and worked for how many years. That is why, when we have our first salary we tend to gather our friends and treat them to some lunch or a few booze. While that is not wrong, it would be best not to exhaust your first pay check to it. It is desirable that you save a portion of it to your savings or to your investments. I can still remember what I did with my first pay check. I treated my family to dinner then bought a new phone. After that, I got nothing on my ATM and no savings at all. I have to ask my mother to give me my allowance to the office. It was shameful to think I was already working.

Invest Your Salary

The knowledge on stocks, investments, mutual funds are items that I know just a year ago. If only I have known these things when I was 20, I would have accumulated much over the years. I was so dependent with savings and time deposit. Little did I know that these things could yield so little not even beating inflation at all. Simply imagine how much I could have invested in the x years that I have wasted. That is why, as early as your first salary, invest it somewhere profitable like the ones mentioned above.

Never Stop Learning

Yes you’ve finished college however it does not mean you also need to stop learning. The best investment that you can have is to invest in yourself. There are things you can still learn in the process. Proceed to higher education like getting a master’s degree. Learn stuffs that you have been interested in all these years. Explore new things and opportunities. I graduated with a degree in computer science yet I took up master’s in business administration. I know business administration is something different from my teaching field more so my undergraduate degree but I was able to use it in my blog and my other ventures. Apart from that, I got strong connection with talented people who were my classmates. And I learned a lot in the process. Now I am engage in personal finance and investments. Learning never stop once you step outside school. It is always eternal and lifelong.

To all the graduates, congratulations! You close a great chapter in your life and soon enough you will be opening another one. Good luck in your future endeavours and more so good luck in your finances. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 13 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

On Parents Fighting Over Money

Image from dazeddnconfusedd

How you treat money today can be attributed to a number of factors. The biggest one there is would be the influence of your parents with regards to handling money. And parents fighting over it can have varied impacts on the mind-set of the child and how to handle money in the long run.

Interestingly there is a study by researchers from East Carolina that surveyed over 400 college students with regards to their finances. One variable that was stated here is the fact if their parents argued about money. The results are shocking and truly worth noting.

According to the study, students who responded that “my parents usually argued about finances” have more than two credit cards than those whose parents do not argue at all. Plus, these students have larger debt than the rest.

We often think that our parents would argue because of the lack of money. However, there are also parents who tend to argue over control of the funds. Whatever the reason may be, the results are still the same. Even wealthy kids see their parents fighting over money and these students have way higher debt levels.

Though the basis for any definite conclusions is still weak, most definitely children who saw their parents fighting over money have negative impact to their future borrowing patterns. Even more, they tend to copy their parent’s actions too. “Kids growing up in that sort of atmosphere may be witnessing some unhealthy financial decisions,” says Adam Hancock, a co-author of the study. “And they tend to act out those same behaviors.” Aside from that, these students also have a hard time communicating financial problems to their parents. This could lead to more debts and even more credit card issues.

“If they grew up like that and they’re now in college making their own financial decisions, chances are higher for them to have multiple credit cards and higher debt,” says Hancock. “Parents are the No. 1 way they’re going to learn about finances, and if they can just talk about them in a healthy way, it’s going to help.”

With that said, here are ways that parents can protect their kids with regards to their entire well-being.

Do not argue in front of the kids

Arguing in front of them is a big NO. Whenever you fight as much as possible keep the conflict out of sight and even at earshot. Do not even let them hear about the conversation. If you can bring the conflict somewhere else where your kids are not around, the better. A study shows that kids who squander money in an instant and who would not want to keep it can be attributed to his or her parents fighting over money when he or she was little. He or she thought that money is evil and can cause troubles and problems. That is why he or she tends to dispose it rather easily. Hence that individual would grow without savings and even worst with debts.

Discuss money matters with the family

It is very important to let the kids know of the financial situation of the family. That is why, discuss it with them minus the shouting. Let them understand that the family is going a crisis hence you won’t be able to surrender to their every whim and wants. Aside from that, let them understand that money is just a tool and not an end to a means. Remember, how your kids handle money is the product of what you teach or didn’t teach to them.

Parents must be responsible in dealing with finances and relaying it to the kids. As much as possible minimize argument and conflict in the family most especially if it involves money. Truth be told, there would always come a time when money would be hard and scarce. However, there are ways to resolve it in a much calmer manner. Parents would be able to find better solutions when they discuss it over a talk rather than over a fight. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 13 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

52 Week Money Challenge Lifestyle

Image from Apple Tenestrante Lago-Amora

The 52 Week Money Challenge and 52 Week Money Challenge Version 2 is a good starting point for individuals who would like to save and make it a habit. After all, the idea of being able to save this much by the end of the year is truly enticing and captivating. Plus, you only need to shell out little incremental amounts each week.

What is relatively important in the challenge is making it into a habit. Most of us, only save when we have extra pennies from our income. That should not be the case. We must be able to pay ourselves first even before splurging. That is why if you look closely at the challenge, sooner or later the value of savings would hurt up because it will add up. The question then is, would you be willing to sacrifice your lifestyle in order to complete it? Can you give up a few of the things you are used too in order to save up? Being able to comprehend such questions are already items towards your financial freedom.

Being able to complete the challenge is simply the tip of the iceberg. If you were able to save up, perhaps it would be best and ideal to continue the habit of saving up bigger amounts each week. It would be best that you continue after the 52^nd week and be able to surpass it. Even more, embed it in your system to save and save regardless if you have a goal or not. We must look pass the challenge and we can be able to see that starting it up in the first place already makes us winners of the said challenge. Having the money at the end is the cherry on top. What is important is you were able to make saving a habit and you were able to pass the saving hurdles. Because you already have a saving system within you, you can be able to save more than 68,900 in the long run.

So start the habit of savings today. Take the 52 Week Money Challenge and 52 Week Money Challenge Version 2! 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 13 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

Your Investor Type

Image from economictimes.indiatimes

Yesterday we tackled the things you need to do prior toinvesting. It was stated that you need to be able to know your risk appetite personality so you can be able to gauge just what kind of investor you are in the first place. Being able to know it can then help you match the kind of investment that would best fit you. Apart from that, you will also be able to achieve your financial goals in accordance to your personality type.

Hence, today, we would be discussing the different investor types. To date, there are four while some would just qualify it into two. As you proceed, gauge what kind of investor are you in accordance to the matching description. We shall call them C, MC, MA and A.

Conservative

The conservative investors are the ones who don’t want to lose their hard earned money. As much as possible, if they invested 100,000, losing even a peso of it is unforgivable. They are the ones who have short term goals and also retirement ones that seek regular income stream. Their assets in the first place do not provide great growth but a sense of security that it will be maintained. Aside from that, it is also designed to provide income yet preserve the principal balance. The ideal investing strategies for the conservative ones are special deposit accounts, time deposits and savings account. Mainly conservative ones tend to avoid risk at all costs. Their primary investment goal is to preserve their money in the first place. Their aim is to provide stable returns in the long run.

Moderately Conservative

They are investors who are much less willing to accept certain variations in their portfolio. These are individuals who would be needing their money within three to six years. They are also the ones looking for a regular income stream. This kind of portfolio is geared towards individual bonds or bond mutual funds. These kinds of investors also receive income from dividends on an annual or quarterly basis from their investments. Their goal is to seek reasonable levels of capital growth while maintaining their initial input. Security is still their priority over wealth accumulation. Moderate returns with moderate risk are something they can handle.

Moderately Aggressive

These are investors who seek longer term investment. That is why they tend to mix their investments. Their aim is for capital growth. Security of capital is still considered but is secondary to wealth accumulation. They also aim high potential returns yet the risk margin associated with it is still something acceptable on their end. They can be able to contain a certain percentage loss.

Aggressive

These are investors who are more geared towards equity investments like stocks and mutual funds. They are more open to risks and are willing to accept it. They can see large and even short term swings in the market without the need to worry. Their aim is for large growth in the market often long term. Their primary investment is for capital growth and wealth accumulation. They are more into highest potential return with acceptance of the highest risk.

Being able to identify your investor personality will also help you identify the kind of investment that would be ideal for you. Banks tend to give you investor questionnaires so they can be able to determine your risk appetite. It would be pretty hard to get equity investments for example yet you panic when there is a sudden market blow. On another note, getting time deposits when you yearn for more is also not a perfect fit. Hence, as early as now identify your investor personality. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 12 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

Things To Do Before you Invest

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To date, we see many individuals who are investing be it in the stock market, equity funds, mutual funds and more. And we are also getting ready to join the bandwagon and become investors. However, before becoming one there are things that you need to know and do first before you can invest. Investing is not a walk in the park after all. It takes a lot of commitment, patience and more so money to get it started.

Hence, if you have been aiming to start your investing journey, these are the things you need to do first.

Goal

The first thing you need to be able to identify would be your goal why you invest. You see, we know how to get started with investing but we don’t know when to stop investing. The goal would serve as the finish line for us to stop investing and in return can persuade us more to invest. Are you investing for your retirement? Are you investing for your dream house, for your children’s education or what not? After that, you need to be able to quantify just how much we are talking here. How much are you planning to get for your retirement? How much your dream house would be and so on and so forth.

Money

As previously mentioned, investing needs money. That is why there are many things you can do in order to get started with your investing money. You can find a new way to increase your income or you can set aside a specific percentage of your salary for your investment. For instance, if you are earning 10,000, how much should be for your investment. Or you can opt to increase your income so the other source would be dedicated for your investment. And you need to take note this is not a one-time thing. You need to do it monthly or consistently. You cannot simply invest this day and leave it there. You need to pour in more funds in order to let your money grow in the process.

Personality

Another very important thing to do prior to investing would be to know your risk appetite. Being able to identify this kind of personality will help you land the right investment. For instance, if you are a conservative investor, you might need to opt for investments that are relatively conservative too like time deposits and special savings account. If you are aggressive however, you can opt for equity funds and even the stocks. You need to fit well your investment with your personality so you can be at rest and you can be calm throughout the investment.

Knowledge

To be an investor, you need to be persuaded with knowledge rather than by your friends to join them. What may be working for some could work or could not work for you. Hence, it is important that you get to have your own research on varied investments and you get to study it first before submerging. It is important that you get to read and understand this so that you won’t fail in the end.

Now don’t get startled because of the many things you need to do prior to investing. These are relatively easy things if you really want to pursue this path. Plus, it can save you a lot of time and money in the process. Happy investing everyone!

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 12 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

Discovering the Financial Benefits of Using a Serviced Office

Image from Michael Jastremski (http://openphoto.net/gallery/image/view/7834)

Knowing the value of financial freedom
Everyone wants to have financial security. Just imagine having the freedom to buy things and still have money in the bank. It would be so liberating to splurge on holidays or expensive gadgets without worrying that there won’t be enough cash left over until the next paycheck arrives.

Unfortunately, majority of the working class don’t make millions annually. The average corporate employee needs to learn savvy saving and investing practices to be financially secure.

In this age of computers and the internet, there are more ways to put money away for the rainy day. Banks, which remain trusted financial institutions, have expanded their services; many now allow clients to do transactions on the web. It’s now possible to make fund transfers or process insurance payments online.

Another good thing about sophisticated technology is having access to a wide variety of information. Individuals seeking to improve their current financial standing can use the net to find tips on accumulating wealth and keeping it. Countless blogs are dedicated to teaching people how to utilize their earnings sensibly. Not only do these resources provide great advice but also have projects that readers can try out on their own. One good example is the 52 Week Money Challenge  posted on this blog.

At this point, it’s worth emphasizing that understanding cost is important in financial management. Say you like to purchase stocks without any regard for price. You may end up on the losing end of such an investment. In the same manner, your saving strategy will amount to nothing if you don’t monitor your expenses. If you engage in reckless spending, you might be forced to spend to break open that piggy bank. This is why it’s important to create a budget and stick to it .

Understanding the value of cost in business
Understanding cost is not only important in personal finance. It is also a vital practice in business. This is especially true for start-ups who are still making their own way in the industry. With limited resources, new entrepreneurs need to be more conscious about the expenses that go into starting a business. Doing so will allow them to identify priorities and allocate sums off their capital accordingly.

Now, these priorities are usually the same for those starting a new commercial venture. You have to secure legal permits and look for ideal business premises. The latter usually proves more costly, especially if you opt for a traditional office space. Apart from having to deal with long-term contracts, you’ll have to spend extra for supplies and furniture. Hiring people to clean the place and answer calls will cost money too.

Financial benefits of a serviced office
Fortunately, we live in an era where flexible business centres are available. You can find them in major cities all over the world. In Southeast Asia, you can find a suitable office space in the Philippines  or Singapore. The property agencies that run these establishments offer a variety of packages for the entrepreneur. Foremost of which is the serviced office.

A serviced office is a space leased out to corporate organisations. But unlike traditional rentals, it’s fully furnished and comes with the needed equipment. Since the beginning of the article, we’ve been talking about reaping financial benefits. This time around, let’s discuss how businesses can benefit financially from opting for such a facility.

Less upfront costs
Earlier, we mentioned that one of the downsides of renting a traditional workspace is having to furnish it yourself. Furniture and office supplies are overheads you can do without.

In a serviced office, everything is already prepared for your use. You have ergonomic workstations and telecommunication equipment, and maintenance services are included in the monthly rental you pay.

Contracts for such a facility are also shorter and more flexible. Finally, you and your staff can also take advantage of other amenities available within the building.

Ability to pursue opportunities for growth and expansion
A serviced office not only allows business owners to save on upfront costs; it can also effectively cater to specific requirements. If your commercial venture is growing, the operator can furnish arrangements for an expansion. You could relocate to another floor or do a renovation on the existing space. Either way, you won’t spend less than building your own building to accommodate new processes and more employees.

More funds for core tasks
Since you’ll be spending less on the lease, a much bigger chunk of your budget can be appropriated on core processes. With more resources at your disposal, you can then create goods and services that are of better quality and value to customers.

Have a sound business plan in place before you start looking for a serviced office. The specific details included in it will serve as a reference.

About the Author:
Regus is a global company catering to office space needs of clients in almost 100 countries. Apart from having a wide range of suitable workspaces, start-ups can also take advantage of other useful services, such as hot desking and virtual offices.

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 12 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

My Dose Of Inspiration

Today, I am beginning a new year in my life. And I would be forever grateful for the great blessings that I sometimes think I don’t deserve. There have been many individuals who helped me through my journey and this time I would like to give a big shout out to my parents who have been responsible for bringing me in this world today, for molding me who I am and for being my constant inspiration. And they would be the highlight of today’s post.

I already gave you a glimpse of my life when I first started this particular segment in my blog. So you also have a glimpse of my parent’s life even a little. As I’ve mentioned, I was never born rich. My parents have to toil really hard, juggling different jobs from time to time in order to sustain our family. My parents never finished college. My father finished high school while my mother finishes grade 2. I know for a fact that my father is one hardworking man since he is a working student in high school. I recalled he was the only one among his siblings who stepped into a private school. In order to sustain his allowance, he have been selling plastic bags in the market and just about anything after school. My mother after barely finishing grade 2 just tends to help her mother in the house and soon she worked as a helper.

Knowing how poor the situation is, my father decided to stop high school and not pursue college. He actually wants to proceed but he knows he needs to provide for his siblings and parents. That is why he went to Manila to work in a factory. While in Manila, that is where he met my mother who was working as a store attendant. The rest is history.

When they decided to settle down, both of them went back to Cagayan de Oro to start a family. My mother had me in her late teens. My father decided to work in order to provide for us while my mother decided to sell suman everyday just to have a little income for the family. I can still remember how she would leave me early in the morning just to sell those. We have been moving from one house to the next since we don’t have any properties and we would be living with relatives.

In spite of it all, my parents don’t seem to mind all the hardship and stress. My father would always say to do well in school because it is the only thing they could give to me. I know I was not required to be an honor student but seeing them happy with those recognition led me to work more in my studies.

I know my parents would just want the best for me and my siblings. That is why when my mother knows the ins and outs of construction then my father decided to venture into this kind of business. With nothing to get them started, my father asked for a loan from engineers and friends. They started fixing canals in the city, building city landmarks, barangay halls and classrooms. They just tend to roll out their revenue and make it their capital for the next project and so on. Since then, I’ve seen the growth of their business. They have been able to buy properties such as land for me and my siblings. We were able to buy a small house fit for us. And they are now able to provide the things we need and want.

Truly I’ve seen how my parents transitioned. And with that, they have taught me a lot about life, about work and most especially about money. Life has never been easy for us yet it proved to be a very fulfilling challenge for the family. That is why my success, I owe it much to my parents. 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 12 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.

52 Week Money Challenge Mathematics

The 52 Week Money Challenge incorporates a rather simple mathematical formula of Arithmetic Progression or Arithmetic Sequence. For those who don’t like mathematics, you might not agree with the notion. But at least we get to have one simple application with math. I oftentimes wonder when I was little where I could apply this sequencing notation. Alas, it has found its niche to savings.

Note: Mathematics ahead!

The Arithmetic Progression or Arithmetic Sequence is a sequence that has a constant difference between terms. We have the first term, the common difference and the number of terms.

Let us equate the three items with variables. Let us set the first term as a, the common difference as d and the number of terms as n.

The explicit formula is

a_n = a₁ + (n – 1) d

In the case of the 52 Week Money Challenge, our first term would be 50, our common difference is 50 and the number of terms 52. The 52 indicates the number of weeks in a year.

So for instance, if we have 50, 100, 150, 200 this has a₁=50, d=4, and n=4

So we apply these values to the explicit formula we can derive this:

a_n = 50₁ + (4 – 1) 50

The sum of the members of the finite arithmetic progressions is then called the arithmetic series. For instance with regards to the 52 Week Money Challenge we consider the sum of 50 + 100 + 150 … + 2600.

The sum can be computed by taking the number n of terms being added. The challenge implies 52 in this case. Then we multiply the sum of the first and the last number in the progression. In this challenge we have 50 + 2600. After taking the sum we then divide it by 2.

n (a₁ + a_n)

2

In the case of the 52 week money challenge, this gives us the following equation

52 (50 + 2600)

2

The answer would be 68,900. Hence, by the end of the 52 weeks, you could indeed save up that much amount.

If you want to do the computation monthly, you can add in 50 + 100 + 150 + … +2600. It would still yield a total of 68,900.

So you gotta love Math! 

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 12 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.