I know that l have been talking about the need most of us have to generate money, but today I just have to talk about the other side of the equation, the outgo. On August 17th, Dave Ramsey had a great piece on his show in the second hour.
He was referencing an article from Yahoo Finance called “Millionaire Myth Busters”. He covered the seven myths, but followed that by doing some math for all of us to take note of.
He made the argument that even someone who makes minimum wage has the opportunity to retire wealthy. Yep, you read that right, wealthy. Sounds too good to be true doesn’t it. I don’t want to try and give the complete explanation of how you do that, he is the expert.
The short summary though is that through consistent savings of under fifty dollars invested your working lifetime of fifty years could make you a member of the millionaire club!
So, stay at home moms can really make the difference long term through frugal living and being disciplined about saving money. Hey, it is Friday, and that is a sweet way to start your weekend off right. Monday we can get back to working on the other side of the equation.
I highly recommend that you take a few minutes today to just go to the archives of his show on August 17, and listen to the second hour of the show. Simply go to the sixty minute marker and listen.