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-Ericka

Monday, October 18, 2010

There's Something About Millionaires

We've made more friends!! This particular friend of Shane's has a bachelors in economy and he sent us a cool version of a budget system he made up plus some millionaire facts. He and his wife haven't heard of Dave Ramsey but they are on the road to repaying debt.

A couple of lesser known facts I think you'll find interesting: (answers down below)
1-The type of car the average millionaire drives?
2-How much does the average millionaire make a year?
3-How do rich people get rich?

Answers:
1- a used car
2- $50,000/year (remember, being a millionaire means someone has $1 million dollars)
3- rich people pay themselves first, meaning they put money aside for their savings, retirement, Roth IRA's, etc, as soon as they get paid, instead of paying bills first then putting whatever little left into savings as most people do. Often times what is left is not much if anything at all, and people will spend that amount., never building wealth for their future. 

4 comments:

  1. HEY! I'm two out of three on that list of millionaire qualifications.

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  2. I'm two out of three too! Except my two are the used car and the paying yourself first because we sure don't make 50 grand nor do we have 1,000,000 dollars

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  3. I just saw Dave Ramsey's new house and it is amazing. I'm happy to see he paid cash!

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  4. I just read the article. Wow! Dave is so inspiring. Some key elements that he has in his favor are his education and excellent entrepreneurial instincts.

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