If you save $25 a day, you can become a millionaire

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If you save $25 a day for 50 years, you will be a millionaire. This is the calculation I get when I run the computation using an online saving calculator. I based on the assumption that the interest rate is 3% and is compounded daily. That means you will save a total of $456,250.00, and earn interest of $602,766.77. The total amount will be $1,059,016.77. It is definitely very hard to have such a habit of saving money. Most of us know the importance of saving money, but we cannot imagine saving the same amount every day for 50 years. We think about spending money while we are still saving money. 50 years is definitely a very long time for saving. This example just shows how important to start saving when you are young. If you can find an investment that pays more than 3% per year, you will become a millionaire much earlier.