INSIDE: There are so many fun and useful things you can do with compounding numbers, including saving some nice dough. Check it out!
So, here’s the question: Do you know what 1+2+3+4+5+6 all the way up to 365 equals?
I’ll tell you: 66,795. In case you were wondering ;)
Doesn’t that seem like WAY more than you would have guessed? Compounding numbers are cool.
I got on this kick yesterday of doing a fun year-long giveaway for you guys (“$1.00 a day which would increase by another one each day for an entire year!) but sadly realized it would bankrupt me. Sorry… Perhaps after I make my first billion?
And before you ask, yes – I started counting it all out until I realized there had to be a much better way. Like asking my wife :) Who then Googled it and found the algebraic equation for us to solve 1-2-3. (My boy Jesse from YNAB sent me this awesome Wiki How article afterwards which is even better – for those interested in figuring it out: Sum the Integers from 1 to N)
But while we’re not gonna do an awesome giveaway around this today, I figured we might as well apply this new found knowledge in a different way.
So here are a handful of other (smarter) uses for this compounding numbers formula:
- The 52 Weeks Savings Challenge. Instead of giving it away, SAVE $1.00 a week and then add another with each passing one until you end up with $1,378 at the end of the year! Kinda cool (and easy), as you might recall from earlier in the year when we happened to talk about this…
- Try saving a *penny* on top of each other every day. Which would net you a cool $667.95 if you can believe that. (Good idea, Chris Campbell)
- Use it to impress your friends who think you’re not that bright. (We all have those, believe me)
- And lastly, use it to prove to your parents that the internet contains more than just Facebook. I swear they think nothing good comes from the web sometimes…
I’m sure there’s a lot more you can do with compounding numbers (any math majors out there?), but unfortunately my coffee has just ran dry and I’m now thinking on fumes… So on that note I think I’ll go before I say something dumb. Have a formulaic day out there!
[Photo by WikiHow]