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If you Must Buy - How can you Save? |
How to Save |
Personal Success Stories |
Portrait of a Wage Slave |
You probably think you are doing ok. You've got a good job, it pays well, you're saving money in your 401k and IRA and you've got great benefits. As long as your monthly or bi-monthly checks keep rolling in, everything is just great. |
So, every month, you've got bills to pay, your mortgage, car payment, utilities, food, entertainment, and expenses for your kids. Then, you want to fund your IRA and put a little something else away for your future - to buy that next car you know you will need or a bigger house, or future college expenses, etc |
Even if you are in a very secure job which you enjoy, you are still what we like to call, a wage slave. You get paid for every hour you work, or if you are considered exempt, you simply get a salary, no matter how many hours you work. The more you work, the more the company gets, not you. |
And what happens, if you want to stop work? or you get frustrated in your job or decide to change careers that doesn't pay as much? or the company folds? You've got all your same bills, without the same income. You just realized that you are a wage slave. |
StopSpendingMoney.com wants you to get out of the wage slave cycle by initially saving your way out of it. That's right, cut back on those expenses and put every dime into a high interest savings account. When you have to spend, spend the interest from those accounts and keep your Principal. Your Principal will keep yielding you that money, over and over again. Eventually, you will break the cycle, but it will take hard work. |
As a wage slave, you also build nothing of value through your work. Yes you may keep the company going, but at the end of all your hard work, you have no residual value and nothing to sell when you retire. Haven't you ever worked hard on a project, worked tireless hours to make sure it was a success, and then when it's over, you have nothing except your monthly paycheck? |
Disclaimer: Not financial consultants - we just make sense Contact us stopspendingmoney blog |