How To Save Your First $100K – EP 384

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When does one step at a time get difficult? For us, it’s saving the first $100K. Building on an insightful discussion about all the math behind this, Jen and Jill share their thoughts on why this point marks a significant turning point in one’s financial journey. Join your Frugal Friends as they continue the 6-week Roth IRA Challenge by discovering the reasons and ways to save your first $100K. 

The earlier you get there, the better off you are down the road.


  • Something special. It’s what you are AND it’s what we all love. And right now we’ve got a little something special going on for our friendletter subscribers. We’re doing a $1000 debt payoff giveaway! We’ve been talking about it all month in the Friendletter and it IS for our Friendletter subscribers only, but we wanted to let all you listeners in on the tea as well.

    SO if you could use an extra $1000 to pay down debt or get 1 step closer to any other financial goal, then get the newsletter at You’ve got 3 more days to register before we announce the winner. AND, if you want to be notified when we do more things like this, then stay subscribed!

The Math That Explains Why Net Worth Goes Crazy After the First $100k

Your first 100k is the hardest, but the road only gets easier after the first $100k milestone. This article explored the math that explains why net worth begins to take off like a rocket ship after crossing the $100k threshold.

What Jen + Jill have to say:

The article highlighted the trend for those who saved their first $100k and how investments sky rocketed after that. Jill agrees that it’s not just arbitrary…. #compound interest – it’s at this number that we have enough to see a noticeable impact. It is also through lots of saving and investing. Jill likes the chart that shows money growth with different interest rates (with a static investment of $10k annually.

How to Save Your First $100,000

Financial stability and financial goals are two key reasons for saving. If you’re just starting, Investopedia outlined tips on how to save your first 100k.

What Jen + Jill have to say:

Jill discusses keeping costs low, investing in efficient vehicles and products, tax sheltered investment options (401(k)) or traditional IRA, managing risk appropriately (consider how much time you have and how much you know about the investment), and creating short-term savings goals.

Meanwhile, Jen talks about having the right mindset, reducing your interest burden, maximizing employee benefits, and generating additional income.

The most challenging part of saving for us

For Jill, it is the competing goals (and NOT unlimited resources). For Jen, the hardest is having a concrete goal.

Bill of The Week

Thank you Grace for sharing your bill about canceling fitness subscription and getting 2 free months through your ‘fake-out’!

Thanks so Much for Listening!

Thanks so much for listening! Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win:

Super fave!
I count down the days until each episode is released, not only because of the quality entertainment, but also because I always come away with awesome tips for living more frugally! It is clear that these ladies have solid values to ground them, which creates a genuine, wholesome listening experience. Love it!

Thanks for listening. If you enjoyed this show, please take a minute to leave a rating and review, it helps potential new listeners know what our show is all about!

And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉

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