How to turn a daily habit into a yearly investment.

This is an example of a $10/ day habit.  

$10 = 1 pack of cigarettes, or $10 worth of drinks, or $10 worth of lotto tickets.


Sincere apologies go out to the many Russian, European, Japanese, Chinese, and other  fans of
El Cheapo. I have been using  dollar currency in my previous examples including this one..


Here is the currency converter for today's date.

$ 1.00 U.S. =  .62 British Pounds Stirling
                   =  .72 Euro.
                   =  5.91 Norwegian Krone
                   =  31.91 Russian Ruble
                   =  6.10 Chinese Yuan
                   =  97.89 Japanese Yen
                   =   7.75  Hong Kong Dollar

Unfortunately, due to the limited amount of time for blogging, I cannot convert the currency of every country
in the world.  So, this is the daily/ weekly/ yearly  money habit example according to currency converter:


$ 10.00 U.S  = 6.19      British Pounds Stirling * 7 days/week = 43.33 * 52 weeks/year = 2253.16
                   =   7.31      Euro * 7 days/week =  51.17 * 52 weeks/year = 2660.84
                   =   59.06    Norwegian Krone * 7 days/week = 413.32 * 52 weeks/year = 21492.64
                   =   318.65  Russian Ruble  * 7 days/week = 2230.55 * 52 weeks/year = 115988.60
                   =   60.97    Chinese Yuan  * 7 days/week = 426.79 * 52 weeks/year =  22193.08
                   =   978.90  Japanese Yen   * 7 days/week = 6852.30 * 52 weeks/year = 356319.60
                   =   77.53    Hong Kong Dollar  * 7 days/week = 542.71 * 52 weeks/year = 28220.92
  
Quite elementary indeed!  

If you are frugal enough to save this much money for one year instead of spending it, there are
alternatives to stuffing the money in a regular bank account.  

Many banks offer a High Yield interest rate with a new savings account.   But 1 - 1.5% is really
nothing, especially if there is no compound interest. High yield, my foot!  A financial institution of your choice may offer higher yield equities, such as bonds, strip bonds, or guaranteed fixed interest investment funds. Strip bonds take a bit of understanding, but offer a high yield return at maturity. For a better explanation of strip bonds, go to: http://www.stripbonds.info/ 

Some financial institutions offer a free consultation with a financial adviser. El Cheapo is too cheap for high risk investments, so go with something safe my friend.