This month will see my wife and I run and hopefully complete my 10th Marathon in 10 years when we line up with a few thousand more competitors at the start line of the Sydney Marathon.
Over the years our training for this gruelling 26 mile event has revolved around a training schedule of 50 miles per week – 2600 miles per year. Not earth shattering mileage for a seasoned runner but enough for us to stay fit and healthy and enough for us to complete our annual marathon without having to walk (too much).
Around the time of our fist marathon we began to invest $100 per fortnight ($50 each) from our pay checks into a high interest saving account. Not earth shattering for a seasoned investor but enough for us to feed and clothe our 3 kids and keep our family car on the road so that we didn’t have to walk.
Interestingly, the 26 miles of the marathon is reflected in 26 fortnights per year. This makes the total investment per year $2600.00.
Over the years we have saved $26,000, but due to the power of compound interest this has grown to $38,938; $12,938 of that is ‘free’ money, in the form of interest.
This summer we will be looking to buy our first home, secure in the knowledge that we have a healthy deposit to match our healthy lifestyle.
Of course, you may not be able to run that far per week, but isn’t it good to know that you can still bank that amount of money into a high-yield savings account each fortnight? You could even call your new savings account “marathon” just to remind yourself that if you practice endurance in the form of saving each fortnight, you’ll end up with enough for a deposit on your own home too.
September 1st, 2008 at 01:50 pm 1220273448
(That's an American expression, intended to mean, "good luck.")