This series in the blog has been inspired by and will contain information from the following article published on Yahoo.com http://finance.yahoo.com/news/10-golden-rules-retiring-rich-160040271.html
"Rule 1: Spend less than you earn
The
formula for retiring rich starts with you actually putting money in the
bank. Social Security alone isn’t enough to have you living the good
life during your golden years.
Stacy recommends you spend only 90 percent of the money you make and sock the remaining 10 percent away.
If
you have zero savings right now, concentrate on building up an
emergency fund in a savings account first. Once your rainy-day fund is
full, put that 10 percent you’re not spending into a dedicated
retirement fund.
If you’re
currently spending more than 90 percent of your income each month, you
may want to read about how to save $1,000 by summer."
Ingenious idea isn't it, however it is so difficult to do. If you are charging things up with credit cards and continuously paying interest, you are NOT spending less than you earn! This means to LIVE within your means. This is a GREAT way to save money, however, when saving, make sure you are saving for OPPORTUNITIES and not just for the GOAL of amassing LARGE amounts of CASH.
And while we agree with the idea of spending less than you earn. We heard something that made us go hmmm... Instead of living below your means, raise your means to be able to afford and live the life that you want!!!!!!
How may you do that, you ask? Great question. We have an AMAZING free Mastermind webinar coming soon....stay tuned!
Peace,
Love, Joy, Abundance, Health, Happiness, Success, and Vitality,
Namaste!
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