Dan Masters is a published author and Life Coach in Los Angeles, California. He is a featured writer in the Cup of Life Newsletter. He also develops personal growth products for ForeverLearn.com and other companies.
Whatever your current income is, I’ll guess you want to make more. I know that I do! But believe it or not, whatever you are making is probably enough. Here’s why.
A man from New Jersey named Paul Navone never earned more than $11 per hour before retiring a multi-millionaire. (He is now in his late 70’s) He never aspired to being a manager during his career working at mills around Vineland, New Jersey (according to an article in the Philadelphia Inquirer). And yet he recently donated $1 million to Cumberland County College. He previously donated a $1 million gift to St. Augustine College Preparatory School in Richland, New Jersey.
Even though most of us are not interested in living the kind of lifestyle that Mr. Navone has lived to acquire millions, we can learn a great deal from him. To this day, he only wears clothes purchased ‘second hand’ from thrift shops, doesn’t own a television, and continues to live in an extremely frugal manner. In fact, he still lives in a small, modest, single family house.
Over the years, he gradually purchased rental properties and regularly invested in the stock market. By investing most of his income, he slowly ‘grew’ a fortune. Even his closest friends never knew about his wealth until they heard about his huge donations. Learn more about this here http://www.abundance-of-wealth.cup-of-life.com/Financial-Peace.html .
Please don’t get me wrong! I’m not sharing this story because I think that everyone should be like Paul Navone! Few of us have that type of ‘miser’ mentality. But there is an inspiring message in his story. Whatever money we make is enough – if we’re sure that we are spending less than we make. I know that seems obvious, but my research has confirmed that most people do not know how much they spend. Without knowing it, most people spend about as much as they make – and sometimes a little more!
Here’s what I recommend: Carry a little notebook around and write down every purchase you make for an entire month. Next, make a list of every monthly payment you make – and add it all up. Compare this with your monthly income. How does it look? Are you spending less than you make? Can you spend less here and there to put more into your investments?
It feels good to know EXACTLY where you stand, financially. And if you make this a habit, you’ll be able to invest a higher percentage as you increase your income.
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