how do people who work for small salaries save enough money?

Answer 1

Exactly the same way as billionaires.

You make $1.00 and you save $0.50 and after a few years those $0.50 are turned into $1.00 which means your paycheck was never used for anything or if you want to look it at another way all your electric bills, food, rent, TV, clothes, shoes and other basic needs were FREE.

A minimum wage worker will die with over $1,000,000.00 USD in the bank if he keeps saving and investing half his money until he dies.

Some smarter guys save MORE THAN HALF which of course means they will have more money than the rest of us over the years.

If you save $0.60 of every $1.00 you will have $1.20 after a while which is exactly the same as GETTING A RAISE OF 20%

Top 6 Answerer.

Answer 2

Pay yourself first. However little you earn, most people given a choice between being fired or taking a 10% or 15% paycut would "find a way". So give yourself the paycut, pretend the money never existed, and invest those few dollars every week (or month or whatever) in a broad market fund, regardless of the market conditions. One of two things will happen within 15 to 20 years; either you'll get rich, or the world will come to an end (in which case all the cash in the world would be of no use to you)

Answer 3

Scrimp and save. Do without, and keep your costs as low as possible until you can get a better paying job.

Also, avoid credit cards.

Set aside a little money each paycheck, and when you have enough for an inexpensive car, find one and buy it, and don't get in debt buying things like that. Then start saving again, and when you can afford it, buy a slightly better car.

Use this principal for any expensive item you want to buy.

Also, you can do without a fancy stereo system, and other expensive "toys" - live within your income, and don't spend more in a month than you bring home.

Good luck.

Answer 4

living under their means for sure, turn off TV ads. They know how hard when emergency came without the cash.Maybe they heard the story of the ants and grasshopper. In the summer time, the ants try so hard to get the foods for the winter when the grasshopper did not give the thought of how hungry no food in the winter.And when the winter came, look who laughing?

they paid cash for what they own. next time, if you drive passing some old cars, do not think they are poor, their bank account may give you heart attack

Answer 5

They are relentless in saving something from each check. They are also frugal and carefully consider the importance of the things they buy. Those good habits begin to multiply the benefit as their income grows. There are people who get rich on $25,000 per year.

Answer 6

take 10% of whatever your salary is and put it in a cup labeled "enough money". But I knew this girl whose father was a millionaire, but she worked as a technician examining lab rats. Her salary was small, but her inheritance will be LARGE.

Answer 7

have to reduce expenses down to that level. Many too extravagant to be able to do that.

Answer 8

It is called poverty, and families in poverty can't save--they have no disposable income. They do without, first.

Answer 9

we don`t