Double Your Money Game

The “Double Your Money Game” is a simple, progressive game you can play with a partner or by yourself. It works out to about the same as saving a dollar a day, but the twist makes it a bit more fun.

The first day person A places a single penny into a piggy bank or money container of some type. On day two, person B places $0.02 into the money jar. Day three is person A’s turn again and $0.04 is placed inside. Day 4 goes back to person B and $0.08…this continues for a 10 day cycle meaning that the most money anyone pays is $5.12 on day ten. Then you begin again at 1 cent and do the progression again.

If you keep this up for an entire year, the result comes to a tad more than a dollar a day ($368.59). A dollar a day can have a significant impact later if invested. If you invest a $1 a day in a tax free account (Roth IRA) and get a 10% annual return, that $1 a day will be worth over $67,000 in 30 years.

Thanks to robex for this game.