What is The Hard Working Dollar?
What is the Hard Working Dollar?
For those of us who find it easier to use metaphors to remember concepts, the “hard working dollar” simply means that your money should work as hard as you do, if not harder.
As a result every dollar should be viewed as a business partner and/or employee who you have to assign various tasks, train to work harder, and teach to recruit new “hard workers” like themselves. So eventually, you will have a large, smoothly running family/corporation of “hard working dollars”.
This metaphor came to me almost ten years ago when I didn’t have any steady income and really needed the little bit of money I was saving to earn a better than average return. At the time, I had grown tired of banks paying me less than 1% on my savings, while simultaneously charging more than five times as much interest as they paid out. And to add insult to injury, I eventually learned that these same institutions were using my own savings as collateral when lending.
Is this how you feel at times?
So after spending countless days and months working random jobs all while despising the fact that my savings seemed to never grow, I sat down and thought, “there has to be a better way”. I didn’t have any idea of what this “way” was and wasn’t even sure if it even existed, but honestly, I didn’t care. I swore to myself that I would at least search so at a minimum my conscious would be clear because I tried to better my situation.
So prior to actually beginning my search, I decided that my main goal was to have every dollar I earned, work as hard, if not harder than I did and that any idea or vehicle that led to or accomplished that goal was worth trying out or at least learning about.
Now, after years of trying out and learning the various methods to
create “hard working dollars”, I have decided to create this blog as a
portal for me to share what I’ve learned and for others to contribute
what they’ve learned.
Related posts:
- The Hard Working Dollar Weekly Roundup 08/09/09 – 08/15/09
- Currency Carry Trade 2009: Short The US Dollar
- 5 Ways To Save Money In This Economy
