Earl Crawley earns $20,000 a year as a parking lot attendant. Even with such a small amount of income he has managed to create a nest egg of over $500,000 in the last 44 years. If Earl is not an inspiration to you then you are a lost cause.
You know those simple savings tips that you read on all the PF blogs? They can help you do what Earl has done. Spend less than you earn and invest the difference and you are on your way. Earl’s example shows that it’s not all saved in a day. It takes years and years of self discipline to achieve your goals.
Check out the article:
http://www.kiplinger.com/magazine/archives/2007/09/mystory.html
[...] tip to Hazzard at Everybody Loves Your Money for the Kiplinger’s story link. There is also a video for this inspiring story about Earl [...]
That is awesome. Earl is a true inspiration and shows that you DO have direct power over your finances.
I earn my state minimum wage, with no fringe benefits (I’m assuming Mr. Earl had employer-provided (or subsidized) insurance, and that he has Medicare now.)
I’m confident I spend less than he does, especially when adjusted for cost of living (cost of living in Baltimore is 1.8% lower than where I live and work, according to the salary.com website). So frugality won’t make you rich on a minimum wage income - sometimes, it really IS what you make.
[...] Hazzard at Everybody Loves Your Money and ChristainPF.com both tell us the basic truth that wealth building is less about how much you make and more about what you spend. As someone who has been blessed to see my salary dramatically increase over the last 10 years, I can attest that what they’re saying is right on the money (hehehe no pun intended). While working to better yourself and striving for a better paying job are worthy goals, they are NOT the answer to your financial problems. It’s what this site is all about - spend less than you make. It’s that simple - and that hard. Right on guys! Financial Tips & Tricks [...]