Saving is faster than earning

• March 20, 2008 • Comments (0)

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It’s tax time, and a great time to remember that because we’re taxed on income, you can get more money by saving than you can by earning more.

Or, to put it more succinctly: a dollar saved is two dollars earned.

You get to keep all the money you save.
You don’t get to keep all the money you earn.

If you save one dollar, you can keep one dollar.
But if you want to keep one dollar of what you earn, you have to earn (at a low 25% tax rate) $1.34.

A fuller, more precise explanation can be found here.

Save your money.

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Category: Finances

About the Author

Mark Warnock is the founder and General Editor of Seminary Survival Guide.com. He serves as Associate Pastor of First Baptist Church of Columbia, Illinois, and is a Ph.D student in Christian Philosophy at Southern Baptist Theological Seminary. He is working with Ed Eubanks on a book on how to survive seminary.

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