Monday, July 2, 2007
How to get rich
Money magazine had an article last month profiling people who became rich through their own business'. The take away seems to be that the road to riches in this country comes through starting your own business. The problem with this is that for every success story there are many more failures. Still, the appeal of working for yourself is a great lure. These people all seem to have an original or at least novel idea and a sound business plan before they started. As I struggle to make my real estate business a money maker these stories provide me with incentive to keep working. http://money.cnn.com/galleries/2007/moneymag/0706/gallery.success_stories.moneymag/index.html
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Here is how I am going to get rich: Cutting pretty much all my expenses down by atleast 40%. For the real kicker...I AM GOING TO SELL MY YARIS!...well I think I may, that savings would be $300 a month for the payment, $100 for insurance, and $50ish for Gas...Total savings per month, $450.00. Now thats cutting costs. I inevitably will take a small loss in the resale but that would be re-couped in a very short time, due to the large savings. Also I haven't paid for highspeed in 2-3 months (catching others signals) and that saves 40ish dollars. One of the most recent savings was that I purchased a George Foreman for work. Not only does that potentially save money it helps me stay away from the fast food diet
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