Try this fun and lazy way to build $3,000 in savings | Call Kurtis
SACRAMENTO — The majority of Americans can't afford an emergency expense of a thousand dollars. We looked for a fun way to start saving.
Certified Public Accountant Maya Corbic wrote a book called "From Piggy Banks to Stocks: The Ultimate Guide for Young Investors." It shows kids how to save money, but she's found it can help adults, too.
"Learn this learning alongside your kids," Corbic said. "There's no shame in admitting that, you know, 'Hey, I didn't learn this from my parents. They didn't learn in school, but I want better for you. So we're going to learn this together, and, you know, you are going to do better than me when you grow up.' "
Corbic learned through struggle the value of a dollar after leaving war-torn Bosnia as a teenager.
"We had $50, and we had two suitcases," Corbic said. "And we started from scratch."
Corbic said that there are so many opportunities to save money and suggested starting with the nickel challenge. Here's how it works:
- Day 1: Deposit a nickel into a savings account.
- Day 2: Slide in two nickels.
- Day 3: Slide in three nickels and so on.
- By Day 365: Slide in $18.25.
Add it up and that's $3,339.75 saved in the span of a year – and even more if you put it in an interest-bearing account.
"It really does add up," Corbic said. "My goal and my passion is to teach as many adults and as many kids as I possibly can because this is—it's not complicated. Anybody can learn this."
To learn more about Maya Corbic and to watch her free webinar on learning strategies to excite children about investing, please visit her Instagram page.
You can also hear Corbic in a podcast here.