Lending money to friends and family is a generous act — one that could easily backfire and even ruin your relationship. Most of the time when someone is considering a loan to a family member, I think, “Don’t do it.” There can be other ways to help. But when it’s someone you care about, logic only plays one role in the decision-making process.
Not too long ago I was in this situation. (I want to share it, but obviously I also want to be sensitive about revealing personal information, so I’m changing names and other minor details.)
I’ve been friends with Megan for almost 10 years. In that time, she’s never had much money, but she also never asked for so much as $5. Last year, she and her boyfriend rented an apartment. A month later, he lost his job, and she had to go on medical leave. He couldn’t find another job, and she had tried to return to work but her doctor wouldn’t sign the medical release (it was still too early). To complicate things, they had a child. I knew my friend, and I knew she was only asking for help because of her child. They were behind on rent, and although she had just started back at work, she wouldn’t see a paycheck for another two weeks.
I don’t believe in loaning money most of the time. It’s not that I don’t want to help make things better, I just think that in most situations it’s a temporary fix. If someone can’t make a house payment this month, what’s going to change next month? In many cases, money troubles are a sign of ongoing issues and habits. Also, it can strain your relationship. If your brother owes you $1,000, and he buys a Harley motorcycle, you can’t help but wonder where he came up with the cash when he hasn’t even paid you back. Then things get icky.
The Right Way to Lend Money to Friends
I ended up giving my friend the money. I felt that this was a situation where she just plain fell on some hard times. The job situation couldn’t have been predicted. They thought they had two incomes to cover a very modest apartment. There wasn’t a sufficient emergency fund to cover situations like this. She was unable to work, and now that she could, she had to wait for a paycheck.
But I was careful about how I did it, both to protect my interests and our friendship.
Here’s what I did:
I talked it over with my husband. He and I had a conversation before I gave my friend an answer. Talking it over with my spouse was good to know we were on the same page.
I expected to not be repaid, and only loaned as much as I was willing to lose. My husband and I agreed that we would view the money as a gift, not a loan. If she paid us back, fine. If not, fine. I made it clear that we weren’t expecting repayment.
I helped find a solution to the situation. If possible (and only if they’re okay with it), help your friend in other ways. In my case, I knew someone who could give my friend’s boyfriend a job.
I’ve read several articles that advise drawing up a contract when lending money to friends or family. While it seems like a good idea, what will you really be able (and willing) to do to enforce it? If your friend or relative doesn’t feel a responsibility to pay you back, a piece of paper isn’t likely to change that.
Not Always a Happy Ending
Unfortunately, my friend continued to have money problems, and eventually she was evicted. Her boyfriend was fired from the job after a few weeks. While I feel for her, that’s the extent of how much I can help her — at least financially. I don’t regret our decision to help out, and though the money is gone, our friendship has remained intact, which was my primary concern when she asked for help.
Have you loaned money to family or friends? How did you do it? What went right? What went wrong? Do you have any advice for others in this situation? (Or, if you’ve borrowed money from friends or family, what can you tell us from that side of the fence?)
My travel mantra holds that travel should be free — or as close to free as you can get! Budget travel tips usually focus on ways to find cheaper airfare or hotels, and these are a great start. But thinking outside the box can yield some extraordinary vacations that are surprisingly affordable. Here are the different ways I travel to save (and sometimes earn!) money:
Rent a House or Apartment If you want to stay somewhere nicer than a hostel, but aren’t eager to pay hotel prices, consider renting a house or apartment. You’ll be able to cook for yourself and avoid the $5 bottles of water. You’re also more likely to get an authentic local experience, as vacation rentals are often located in neighborhoods, rather than in tourist areas.
Vacation rentals are a great proposition if you’ve got kids, since they can run around and eat Mac ‘n Cheese — the epicenter of childhood, by my memory — without disturbing hotel or restaurant staff.
VRBO is the most popular source for vacation rental listings, but the large number and inconsistent quality of listings can be disorienting. As much as possible, I recommend using local vacation rental sites operated by people in the region you’re visiting (Google is your friend). These sites are run by people passionate about their properties, whether it’s one house or 50 properties, and can offer local tips and personal attention.
Travel in Groups One way to really maximize the value of vacation rentals is to rent them as a group. While it might sound crazy to pay $800/night for a fancy 6-bedroom home, the number to pay attention to is the cost per room (in this case, $133 per room). If you have six couples staying together, that’s only $67 per person. And often, the larger homes have amenities like hot tubs, pool tables, docks, fireplaces, or large acreage.
Last year, my aunt, boyfriend and I rented a gorgeous two-bedroom flat in Paris’ Left Bank, across from the Louvre. We shopped at the famous Parisian markets and cooked many of our own meals. Our flat cost $80/night each, so we splurged and stayed 10 nights. We leisurely toured the museums, took day trips out of town, and wandered the streets of Paris, pretending to be locals.
Visit People If you know anyone who lives in a place you’d like to visit — heck, if you know anyone who knows anyone who lives in such a place — contact them. I’ve never regretted reaching out to someone in a foreign land I’m visiting, no matter how tenuous the connection. This generally works best for international travel, though even with domestic travel, you’re sure to get some restaurant and activity recommendations.
Most people are thrilled to show you around their town, and they can point you towards the cool, local spots off the tourist track (read: you won’t have to pay tourist prices). Making connections with others is what travel is all about, so don’t be shy!
Trade There are people all over the world who want you stay in their place for free. All you have to do is reciprocate. Browse sites like INTERVac and HomeExchange.com, and search for people who want to visit your region. When I was a kid, every summer my family exchanged our home with a European family’s. We were able to explore new countries like France and Italy at a leisurely pace, rent-free.
Monetize Your Space This tip is a bit more complicated and requires a bigger leap of faith. Whenever I know I’ll be out of town, I make my boyfriend’s and my San Francisco apartment available for rent. So while my boyfriend and I are off traveling, someone is nearly always paying to stay in our apartment. For example, we recently took a two-week trip to Boston and managed to find someone to rent our place the entire time we were gone.
Last summer, I generated enough money this way to fund all our major travel expenses. We traveled to New York City, Boulder, Sonoma, and Boston. After totaling the air, lodging and car rental costs, I was delighted to find we broke even. By hanging with locals and cooking our own meals, our entertainment and food costs were about the same as they would’ve been had we stayed home. We rented apartments, used hotel points or stayed with local friends to save money on lodging. We purchased in advance to save on airfare and car rentals.
Note: For that last tip, be sure to get your guests’ contact information (including where they’re from and what brings them to town), create a contract, collect a deposit, and trust your gut — if you have a bad feeling about someone, don’t rent to them. Also, in some parts of the country, short-term rentals are starting to be regulated. Ensure you’re aware of local laws and tax requirements.
Budget travel is often about hostels and last-minute airfare. But with some advance planning and a creative approach, it’s also possible to travel inexpensively, connect with friends, and experience local culture all at once.
J.D.’s note: One weekend every year, Kris and I rent a home in an Oregon resort community. We split the cost with five other couples. It’s a fun tradition that doesn’t break the bank. And when we were in Europe last fall, we spoke with many couples who were renting (or planning to rent) a flat in Rome or Paris for a week or more. Costs were lower than a hotel, and the situation was more convenient.
Although we cover the topic once or twice a year, I constantly get questions from people who are frustrated by the financial habits of their spouses and partners. Some people are Spenders, and some people are Savers. What can you do to get both partners on the same page?
Linda is the most recent GRS reader with a relationship issue. She wrote to ask how to get her boyfriend motivated to save money. Here’s her story:
How do I get someone motivated about saving money and being more frugal? Is it even possible?
My fiance and I are pretty different when it comes to money. I’m the Saver, and he’s the Spender. I’m all about the future, and he’s more about the present. He changed a lot after we got together, and now that we’re saving for a wedding, he has definitely cut back on most of the big expenses.
But I get frustrated that although he speaks of saving money and of eventually buying a house, he’s always wanting to eat out, to get the latest gadgets (he’s switched cell phones three times in two years, and bought a MacBook and an iPad), and to go on vacation. He’s a poster child for the latte factor: He has a gold card from Starbucks, which shows how much he frequents it.
His last job had really good pay, but not his current one, so that may also contribute to the spending habit. (He’s used to what he used to spend and hasn’t made the adjustment.) I’m not sure if I’m just giving him a hard time, or if there’s just some thing I’m not doing right. Do you have any advice?
First, Linda needs to know that it is possible for a Spender to become a Saver. I was a Spender for decades, but my wife is a Saver. In fact, Kris could have written this e-mail twenty years ago. Now, though, I’ve changed. I still have Spender tendencies (do they ever go away?), but they’re over-ruled by my new Saver habits.
But I didn’t get here overnight. It took time. And there were a lot of missteps along the way.
I made plenty of false starts toward frugality during the late nineties and early aughts, but I didn’t really change until I hit rock bottom. When we bought our house in 2004, I was overwhelmed by my debt and expenses. It was then that I was finally ready to “find religion”.
From the folks I’ve talked to, that’s a common theme: It’s tough to get somebody else to change until they’re ready to change. The motivation has to come from within. The question, then, is how do you inspire somebody to change their financial habits? I don’t know if there’s any one right answer. (But maybe readers can share what worked for them, or what worked for the people they know.)
Now, goals keep me going. I’ve learned that there are trade-offs. Sure, I want to buy books and comics and gadgets and expensive restaurant meals. And I do buy some of these things. But once I sat down and decided what was most important to me, it became easier for me to save.
Lately, I’ve been using travel as an example. I love to travel. Like George Bailey, I want to see the world. Because this goal is always with me (and I literally think of it every hour of every day now), it’s easy for me to make smarter choices. In fact, it motivates me to find new ways to save.
So, how can Linda help her boyfriend save money and become more frugal? I think she has to find a way to show him how his present choices affect his future options. Talk with him about what his big goals are — does he want to travel? own a business? go back to school? — and then discuss what it takes to get there. Until he understands that what he does today affects what he can do tomorrow, he’s not likely to change. (One sneaky way to try to get the point across is for Linda to talk about one of her goals, asking her boyfriend to help her figure out how to achieve it — even if she knows the answer already.)
What do you think? How do you motivate a spouse or partner to become better with money? For years, Kris tried to help me see the light, but I wasn’t ready. What could she have done differently? What can Linda do to help her boyfriend?
For as long as I can remember, I have known that I wasn’t fit for the corporate world.
Like J.D. Roth, the founder of Get Rich Slowly, I am an introvert, not a fan of authority and even less of structure. So even before I graduated college, I had my mind on one big goal: leave the corporate world as soon as possible. I was working for a big IT multinational in business school; those were not the happiest times, but that job allowed me to graduate debt free, with a small nest egg that I immediately invested to buy my first rental property in cash.
I believe real estate is one of the best way to build wealth and make money, since you generate an almost passive income, but it was far from enough to cover my basic living expenses. I started playing with those online savings calculators to see where my savings would take me in 5, 10 or 20 years. It was a revelation.
Do you know that if you make $2,000 and invest 10 percent of your salary at 6 percent for the next 40 years, you will have $400,289 for only $96,000 invested? At a 4 percent withdrawal rate, your nest egg will produce a monthly income of $1,334. Less than the $2,000 you are making today, or the $1,800 you are living on since you are investing 10 percent of your salary, but no small change.
The thing is, I didn’t want to wait for 40 years. Playing with the calculator some more, I found out that if you can live on 25 percent of your salary, to cover your expenses in retirement, you only need to save for 7 years! Living on 25 percent of my salary was a bit of a stretch, so I looked for ways to make more money. I bought a three-bedroom apartment and took in two roommates. I took odd jobs on top of my day job; I was making money tutoring at night and writing for several travel websites on the weekends, catering at weddings and freelancing as a translator. The plan was to retire around age 40, but I was so determined to quit my last job that I considered an alternative: how about leaving the U.K., where I worked, and relocating abroad?
At the time, I was 29 and owned two rentals in France and the U.K. that would cover my expenses in a cheaper country. I had a few investments that could cover the mortgage on the second rental (the first one was paid for) in case of a vacancy. And my freelance income was more than what I made at my day job. It came from half a dozen sources, and the probability of them all drying up at once was slim. I quit my job and took a one way flight to Morocco.
I lived in Casablanca for a year, and started a life of semi-retirement. I would cycle along the oceanfront, study Arabic, spend hours shopping for fresh produce or eating grilled camel at the market, and travel for weeks at a time to get pictures and posts for my travel writing gigs. I loved my time in Morocco but kept thinking about a country I loved even more, Guatemala. I had lived there for three years after business school, and after traveling to 80 countries, it was still one of my favorite. After a short trip there, I knew it would be my next destination. I found a piece of land by a beautiful lake in the northern area of the country, complete with a lovely little house that could become a guest house someday (one of my dreams). I bought it with cash along with with a 90-acre piece of land that I am turning into a residential development.
I have been living there with my boyfriend for almost a year, and after putting quite a bit of cash into house renovations and building a detached room and panoramic terrace, we are living happily on less than $1,000 a month, or $500 each. Related Content: How to live on less
Here is our budget:
Housing: $0 We bought our property with cash. You can rent a lovely furnished one- or two-bedroom house in Antigua Guatemala or Lake Atitlán, the two favorite retirement spots in the country, for $500 to $700 a month, generally including utilities. For a bigger colonial home, you will have to spend $1,000 to $1,500 per month.
Food: $200 This is pretty high, almost the minimum wage in Guatemala but we like to eat and that includes some imported products we enjoy (like cheese!) and some alcohol. We seldom go out.
Car: $100 We have two old cars that we bought with cash and put about $100 per month in gas.
Electricity: $80 With the house renovations there were drills and tools plugged all day, we occasionally use air conditioning, and pump our water from the lake to cook and shower with an electric pump.
Natural gas: $12 for a 25 lb. container that lasts about a month.
Staff: $300 We have a full time handyman/gardener around the house, who alternates with his girlfriend who comes to clean the house. This is a great perk to living in Guatemala.
Animals: $20 We have a rooster and 10 hens, some turkeys, ducks and roosters. They eat a $20 bag of feed per month, we eat $40 worth of delicious free-range eggs each month. Win-win!
Internet: $80 We spend $40 each. He pays for a data plan on his iPhone, and I pay for a wireless USB modem. It’s expensive, but we are in the middle of nowhere!
Property taxes: $30
Accountant: $20 We own the house and land as an LLC so we need an accountant.
Random: $150 Once in a while we go out, buy something for the house or go over the grocery budget, but that never comes to $150 though, but if something breaks it could. It is quite complicated to get car parts or any parts around here.
That’s a totalof$992 or $496 per person.
On top of that, I spend about $3,000 per year or $250 per month on travel. I fly back to France for a month but stay with my family so apart from a $1,000 ticket I don’t spend a lot, my last trip cost about $2,000 so I still have $1,000 to travel somewhere else, maybe the U.S., by the end of the year.
You may have noticed that I don’t mention healthcare. When I go back to France I get my physical from my doctor, and I do not have health insurance here, just a travel insurance included in my credit card that will repatriate me if something serious happened. This year, I only got a root canal in Guatemala that cost $200.
With the cost of a rental, healthcare and travel back to the U.S. once or twice a year, you could live well here on less than $1,000 per person. Go the extreme early retirement route, and you can live on rice and beans for less than $300, housing included.
But is retiring abroad worth it? I wrote a post recently to compare the costs of early and normal retirement in the U.S. versus abroad, where I concluded that you could either live better than you do for the same price, have a bigger home, some staff, a lovely piece of land with a view for the price of a 500-square-foot condo, or be able to retire years earlier by moving to a cheaper country and living by local standards.
For me, Guatemala meets all my requirement. The weather is mild all year long (they call it the land of eternal spring), people are nice and relaxed, the cost of living is very low and you can find most things you may want or need, from imported tech gadgets to U.S. trained doctors, albeit at a cost. I enjoy my month-long European holiday to visit my family and friends. Since I have been living abroad for the past 10 years anyway, I am used to emailing and Skyping the rest of the year. They visit me occasionally, as well. I could live in France on a similar or slightly higher budget but would not get the same quality of life.
Related Content: Retirement strategies
Where you will spend your retirement is a very personal choice, and for many, being near your family will be on the top of your list. Although if your kids are on the West coast and you are on the East coast, you are just as far away as if you had retired under the Guatemalan sun.
Save more, spend smarter, and make your money go further
(*)Product details are accurate at the time of publishing and subject to change. Some of the offers on this page may no longer be available through our site
Are you in the credit rewards game?? We asked around and got some tips from savvy credit card gamers. Check out how users have paid for vacations, their wedding and more below! Have your own tips?? Share them in the comments!
Gaming for the Jet Set Lifestyle
My boyfriend and I love to travel internationally. We are able to do so through a strategic combination of saving, flight tracking, credit card points, and hotel points. A careful combination of these strategies, enable you to save tremendously on your future vacations.
We’ve included a couple of our recommendations below:
Saving
We use a combination of Mint.com and Qapital to track our spending habits and save for future trips.
Flight Tracking
The “Discover Destinations” feature of Google Flights: Allows you to view prices of upcoming flights world-wide! Once you find your desired flight, you are able to select “Track Prices” and Google will email you when prices go up or down.
Hopper (available on iOS or Android) is another must-have. Hopper uses an algorithm to accurately predict future flight prices. Letting you know whether you should buy now or wait.
Credit Card Points
AMEX Platinum Card ($695 Annual Fee) (*)
5X Points on Flight (up to $500,000 per calendar year) and Hotels booked with American Express Travel.
$200 in Uber Cash and Uber VIP status (available to Basic Card Member only).
Centurion Lounge and Priority Pass Lounge Network Access. Enrollment required.
Global Entry or TSA PreCheck Fee Credit.
American Express Concierge.
No foreign transaction fees.
See Rates and Fees
Terms apply.
Marriott Rewards Card ($85 Annual Fee)
5 points per dollar spent at Marriott Rewards or SPG hotels.
2 points per dollar spent on airline tickets, and on car rentals and restaurants.
1 point on all other purchases.
No foreign transaction fees.
Amazon Prime Rewards Visa Signature Card (Prime Membership Required)
5% Cashback at Amazon.com
2% Cashback at Restaurants, Gas Stations, and Drugstores
1% on all other purchases.
No foreign transaction fees.
Hotel Points
We typically stay at Marriott properties to accrue points. Now that Marriott has merged with Starwood, Marriott has a very large selection of hotels to choose from. Whether you’re visiting a small town or a world-class city.
Here’s more from the social networks!
I use Discover and Chase Freedom for rotating 5% CB, which can cover major stores like Walmart, Target, Amazon, or purchases like restaurants, movies, and groceries. I keep an eye out on what each quarter’s rewards are and only specifically use those cards on those stores during those times. I use my CapitalOne Savor card for 2% on groceries and 3% on dining throughout the year when my Discover and Chase Freedom cards aren’t covering those at the higher 5%. Finally, I use my CapitalOne Quicksilver card at 1.5% at all “others.” I use the CB straight to credit card statement each month and make sure to always pay the cards back always in full. Essentially I can say I have a permanent X% discount at any given store. The credit cards are paying me to use them since there is never interest from my full payments.
— Brandon B, Mesa AZ
I generally use my cash back rewards card with a consistent rate for most expenses and then sometimes switch to a card with 5% rotating rewards when the category is something I purchase a lot (gasoline, Amazon, etc.). I like the cash back better than miles/points because it’s easier to flat out see what I’ve earned and can be used on absolutely anything. To maximize rewards, I also take advantage of referral programs with cards when my friends are looking for a new card and I have one I really like – the ones I have used give $50-$100 per referral.
I transfer rewards right into my wedding savings account ❤️ It adds up faster than you’d expect!
— Rachel M, Cedarville OH
I earn cash points for purchases made with my credit card. The program allows me to select one category of purchase types to earn triple points on. I have it set up to earn triple points for purchases at grocery stores. My local grocery store has a separate “fuel perks” program where I can earn points toward free gasoline when I make purchases there. So, I use my credit card to buy all sorts of gift cards from other retailers and restaurants at my local grocery store, where I earn the triple cash points on my credit card because I made the purchase in the grocery category. At the same time, I earn the fuel perks with my local grocery store program because I made the purchases there.
I basically get triple cash points on more purchase types because I use my credit card to buy gift cards for other categories at the grocery store, AND I earn free tanks of gas for purchases outside the grocery store because I buy gift cards for those places in the grocery store.
— Bryan M, Columbus OH
I am a cashback freak, I always maximize my cashback by using right credit card for right category. I have different credit cards like chase freedom and discover which gives 5% cashback for rotating categories. I have Citi and amex for 3% caskback and for all other expenses i use the card with 1.5% cashback as my fallback. ‘TPG to Go’ app tells me which card to use depending upon my location which is very handy. At the end of the year take them out as a statemen credit. I categorize them in mint app so i know How much i earned in calendar year. Last year it was around $500+ in cashback which is a big help after expensive holiday month.
— Tejaswini L, San Jose CA
(*)Product details are accurate at the time of publishing and subject to change. Some of the offers on this page may no longer be available through our site
Save more, spend smarter, and make your money go further
Previous Post
Luxury Hotel, Budget Vacation: How to Get the Best and…
Next Post
Bankruptcy A to Z: When to File and How to…
Mint is passionate about helping you to achieve financial goals through education and with powerful tools, personalized insights, and much more. More from Mint
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
The numbers never cease to amaze me.
In fact, I’ve always been a fan of comparisons because they help us understand how we compare to others and what areas in life are more important.
However, should you compare yourself to those with 10 figures?
I was recently asked the question, “How much is 10 figures salary?” and my first thought was well beyond 99.9% of people’s salary range.
So then I had to ask this person what they meant by “10 Figures.”
This led me on a journey of figuring out exactly what 10 Figures means when it comes to money.
Many people are curious about the value of a 10-figure career. While it is not easy to become a 10-figure earner, there’s no reason you can’t start working toward your goal.
In this article, we’ll look at how much 10 figures really mean and why it’s important to understand this term.
What is 10 Figures?
10 figures is a term used to describe the amount of money in a given period of time. It is typically used to describe the amount of revenue that a company makes in a month or the amount of net worth someone has.
A number that is over 1,000,000,000 but less than or equal to 9,999,999,999 is a 10-figure number.
If the number is between those two values then it is a ten-figure number.
What is a Ten Figure Number?
Ten figures refer to any number that has 10 digits.
They are important for many reasons, but some of the most important include being able to easily calculate someone’s wealth or income.
How Much Money is 10 Figures?
Earning 10 figures can mean earning anywhere from $1,000,000,000 to $9,999,999,999.
That number is unfathomable for most people earning six figure salaries, which are often viewed as an income milestone by many people.
Simply put, 10 figures in money equates to a billionaire dollars.
Individuals who earn ten figure salaries are usually uber-successful in their careers.
What is 10 Figures Salary?
A ten figure salary means in one year you make more than $1,000,000,000.
Earning a 10 figure salary does not mean you have to earn all of your income from one job source. You can also earn income from investments, royalties, and other sources.
There are many different jobs that can lead to a 10 figure salary. It is possible for anyone with the right qualifications, dedication, hard work, and skillful negotiation tactics to achieve this level of income.
For the common folk, earning a 10 figure salary is an extremely unlikely event. A more doable amount is a $100k salary.
However, if you want to become a billionaire and earn ten figures, by all means, go ahead.
Even earning six or seven figures in a year is a huge accomplishment.
How Much is Ten Figures a Year?
People will use the phrase “10 figures” when talking about how much someone is worth or how much money a business makes.
Ten figures is any number between 1,000,000,000 and 9,999,999,999 that is earned in a span of 365 days or one year.
10 Figure Salary Jobs
A ten-figure salary is a salary that starts at the first 10 figure value which is $1,000,000,000.
This amount of money is not easily earned and usually takes many years of hard work and dedication. It’s important to remember that while having a high salary is great, it’s not everything.
Most people who earn 10-figure salaries created their own companies as a start-up and grew them into massive empires. These jobs can be found in a variety of industries, including technology, fashion, business, finance, and law.
To earn a ten-figure salary, you need to have an aggressive mindset and excellent skills in your field. With the right combination of talent and ambition, you can definitely achieve this goal.
For these people, a business degree was worth it.
Examples of people who earn 10 figures or more
People who earn 10 figures or more are typically some of the wealthiest and most influential people in the world. They often have a great deal of control over resources and economies.
There are only 724 people in the United States that are billionaires (source) with a collective total of over 2700 billionaires globally.
Here are examples of people who earn 10 figures or more:
Elon Musk
Well known for his social media tweets and swings in TSLA stock.
Elon Musk is the founder and CEO of Tesla Inc, a maker of electric high-end luxury cars.
Elon Musk is the richest person in the world, with a net worth of $223 billion as of February 28, 2022. He made his fortune as the founder of Tesla Inc., SpaceX, and several other startups. He is also known for being an advocate for renewable energy and space exploration.
Jeff Bezos
Jeff Bezos is the founder and CEO of Amazon.com, an online retailer that offers a wide range of products and services to consumers globally. In 1994, he founded the company with a vision to make the world’s largest bookstore and offer low prices for books. Bezos had worked on Wall Street in his twenties.
Jeff Bezos held the title of the richest man in the world with a net worth of about $203 billion until Elon Musk overtook his spot.
From 1998 to 2021, Bezos made $88,840 per year or more with extra compensation bringing the figure to a little over $1.6 million each year.
Bill Gates
Bill Gates is an American business magnate, investor, and philanthropist. He founded Microsoft Corporation with Paul Allen in 1975 in Albuquerque.
His net worth is estimated to be over $122 billion with a salary of $1 million per year.
Bill Gates was the richest person in the world for a number of years. However, he dropped to the second richest person in the world in July 2017 when he was overtaken by Amazon founder Jeff Bezos.
Melanie Perkins
Melanie Perkins is the co-founder and CEO of Canva, a design software company that was valued at $40 billion by private investors in September 2021. Perkins started the company in 2012 with her then-boyfriend and now-husband Cameron Adams. The company has since become a major player in the design world, with over 15 million users and offices in 17 countries.
Though some were skeptical of her idea, Melanie Perkins and her team persevered in the development of their freemium software, Canva. 60 million monthly users later, 500,000 teams from companies like Intel and Zoom are now paying for it. This goes to show that with hard work and a great product, anything is possible.
Her net worth is estimated at $6.5 billion.
Gina Rinehart
Gina Rinehart is an Australian billionaire, businesswoman, and philanthropist. She was the world’s richest woman until her daughter took over in 2018. Rinehart has been involved in the Australian mining industry for decades and was the director of Hancock Prospecting, a company her father founded.
Her net worth is estimated at $31 billion.
Susanne Klatten
Susanne Klatten is an extremely wealthy woman. Aside from her BMW stake, she also has significant ownership in Entrust, a company specializing in digital identity and data security, as well as carbon and graphite producer SGL Group. Additionally, Klatten’s brother Stefan Quandt owns 23.6% of BMW- making the two siblings the automaker’s two largest individual shareholders.
Susanne Klatten is the richest woman in Germany and the third-richest person in Europe.
She has a net worth of $25 billion.
Some of the other Richest People in the world include:
Larry Page
Sergey Brin
Warren Buffett – Check out where he eats for breakfast.
Bernard Arnault
Amancio Ortega
Carlos Slim
Micheal Bloomberg
Larry Ellison
Mukesh Ambani
Alice Walton
Arne Morris Sorenson
Charles Koch
Dara Khosrowshahi
Dustin Moskovitz
Eric Schmidt
Eric Yuan
Francoise Bettencourt Meyers
Oprah Winfrey
Kim Kardashian West
Jacqueline Mars
Abigail Johnson
10 Figures Net Worth
In short, becoming wealthy requires having a net worth of 10 figures. That will give you billionaire status.
To have 10 figures net worth, your net worth is over $1,000,000,000.
Net worth is assets minus any liabilities.
Much of the billionaire’s net worth is made up of high income, stock options, real estate, and diversified portfolios.
Tops Ways to Earn 10 Figures
The following are some of the top ways to earn a billion dollars in a year. Even if you don’t get close, you will still earn way more than a traditional 9-5 job.
There are many ways to become a 10-figure earner, but the most common paths are entrepreneurship, investing, and influencer status.
All of these paths have their own challenges and rewards, but they all provide opportunities for anyone who is willing to work hard and take some risks.
1. Entrepreneurship
Entrepreneurship is the process of developing, launching, and running a new business venture. Entrepreneurs start a business with little or no outside funding in an attempt to generate profit for themselves and their investors.
They are generally risk-takers and may work long hours in pursuit of their vision.
There is no ceiling to how much you can earn as a successful business owner.
You can make a 10 figure salary if you are innovative and work hard. For example, one of the most successful billionaires has made their fortune by starting innovative technology companies. Additionally, there are many other opportunities for entrepreneurs such as franchise restaurants and clothing companies.
2. Investing
Investing is one of the most important aspects of becoming a billionaire.
Most of the net worth of billionaires is made from their stock options from when their company went public. Then, they slowly moved to a more diversified portfolio.
In addition, investing can be used to grow and protect wealth, and there are many different types of investments that can be made.
For the average Joe, investing needs to be crucial for growing your wealth. There are also many different ways to invest, so it is essential to find the right option for each individual.
Learn how to invest in stock for beginners.
3. Influencer Status
Influencer status is a term that refers to the type of person who has an influence on social media, through books, or in fashion.
Typically, influencers are individuals who have a large social media following and have the power to make or break products.
Becoming a media star is the first step, but it’s only likely to make someone a billionaire if they can leverage that star status into building successful businesses. For many celebrities, this means starting their own production companies, launching product lines, or creating exclusive content deals.
At 21 years old, Kylie Jenner is the youngest self-made billionaire in the world due to the success of her company, Kylie Cosmetics. The company was founded in 2015 and has since sold over $630 million worth of products. Jenner’s story is an inspiration to young entrepreneurs who want to make it big.
Now, Take Some Lessons from Billionaires
The chances of you becoming the next billionaire is slim. However, there are plenty of lessons to learn from those earning 10 figures.
There are a lot of lessons that can be learned from billionaires. They have achieved a level of success most people only dream of, and there is a lot to be learned from their stories. One thing that stands out among all billionaires is their resilience in the face of failure. They understand that failures are an important part of the learning process, and they use them to propel themselves forward.
While some people might see billionaires as lucky, the truth is that they have worked hard for their money.
In addition, excellence is a habit for billionaires; it is something that they do on a daily basis. In fact, many have a set billionaire morning routine.
Sure, billionaires have long-term goals, but they also take the time to break these goals into manageable milestones. This allows them to focus on their end goal while ensuring that they don’t become overwhelmed by it. In addition to setting goals, billionaires also know the importance of being decisive and taking calculated risks.
From the 3-comma club members, we can learn a lot about work ethic. Most of these billionaires achieved their wealth through sheer hard work and perseverance. They are not afraid of long hours or tough challenges, and they never give up on their dreams.
Now, the chance is for you to see how many figures you can earn.
Know someone else that needs this, too? Then, please share!!
Save more, spend smarter, and make your money go further
Creating a romantic meal at home is a somewhat bigger challenge than your standard Monday-night fare. Especially if you haven’t yet cooked for this significant other — or, if you’re in a long-term relationship, haven’t cooked for them often. And especially when the occasion in question is Valentine’s Day.
Luckily, there are plenty of ways to up to romance factor, either overtly (like aphrodisiac ingredients and candles on the table) or covertly (that valentine’s favorite dish). Cooking together can also be a ton of fun for a date.
Frugal Foodie recommends sticking to what you know, and what you know your sweetheart will like. Even the most intricate meal falls flat if the steak burns or your date turns out to be allergic to hazelnuts. Years ago, Frugal Foodie spent hours on an intricate Coeur a la crème dessert topped with strawberries only to find out her date simply hated the fruit. Needless to say, that did not go over well with either party.
We talked to chefs, home cooks and other relationship experts about their go-to date meals. Post your own tried-and-true recipes below, and then try these seven romantic-and-cheap options.
There are appetizers, main courses, desserts and even a next-day breakfast, all for under $10 to prepare. (Cost estimates are based on non-sale New York City supermarket prices. If it’s a cheap meal in NYC, we figure cooks in most other places in the country will spend even less. Prices are also adjusted for quantity: if a recipe calls for half an onion, you’ll probably find something to do with the other half. Finally, estimates don’t take into account basic ingredients you likely already have, like flour, olive oil or dried spices.)
Oyster with Spicy Vinaigrette and Apples
Cost: $8.37 for half a dozen oysters, or $1.40 apiece.
Chef Michael Carrino, the owner of Restaurant Passionné in Montclair, N.J., suggests starting off your meal with this celebrated aphrodisiac. Open the oysters — he suggests two dozen Kushi, but the quantity and type is up to you. In a small bowl mix two tablespoons white balsamic vinegar, a teaspoon chopped garlic and an eighth of a teaspoon cayenne pepper. If desired, add a teaspoon of apple brandy, too. Using a whisk, slowly mix six tablespoons olive oil into the bowl and season with salt to taste. Garnish oysters with vinaigrette and peeled, finely-diced apples.
Strawberry-Tangerine Salad
Cost: $5.36, or $2.68 per serving.
No need to load up on aphrodisiacs. “Simplicity is the most exciting and titillating aspect of any recipe,” says Lorne Caplan, a scent and aphrodisiac expert. His suggestions: use basil, ginger, vanilla or — in this case, strawberry. Top a mixed-green salad with candied walnuts, tangerine wedges and a bit of goat cheese. Drizzle a strawberry-based dressing (try Frugal Foodie’s here). “Go easy on this as the scent is key and can be overpowering,” Caplan says.
Chicken Madeira
Cost: $7.20, or $3.60 per serving.
“I started dating a boy who dated a chef prior. No pressure there!” says Karralee Serra, who has been documenting her efforts at culinary improvement on “My Boyfriend Dated a Chef”. Serra used this recipe, scaled down for two, to step up her game. It worked. “There is nothing more wonderful than hearing, ‘I can’t wait to see what delicious thing you will cook on our next date,’” she says.
Salmon with Green Sauce
Cost: $9.86, or $4.93 per serving.
“The man had me with his pesto,” says Jill Mikols Etesse, the creative director for children’s app developer SmartyShortz, of her now-husband. His take on Martha Stewart’s dish scaled down for two, she says, is one of the few things he can cook – and what he makes her every Valentine’s Day. “I remember how I felt that [second date] evening,” she says. “It keeps me going.” As an added benefit, the recipe makes enough green sauce to use with other dishes for days on end.
Boozy Chocolate Truffles
Cost: $2.95 for about three dozen truffles.
Frugal Foodie and Mr. Foodie made a version of these Alton Brown truffles for their first Valentine’s Day together, subbing in already-on-hand Grand Marnier for the brandy. It’s been a tradition ever since, and we switch up the brand of chocolate and alcohol every time. Forgo the melon baller and hand-roll the truffles instead — it’s messier, but a lot more fun.
Quick Chocolate Soufflé
Cost: $3.25, or $1.63 per serving.
Intimidating? You bet. But Carrino promises that soufflé can be simple, too. Preheat the oven to 400 degrees. Coat the inside of four 6-ounce ramekins with the nonstick cooking spray, and then dust with a tablespoon of sugar. Chop four ounces of semisweet chocolate and combine with a half-cup heavy whipping cream in a microwave safe bowl. Heat on high for one minute and stir until chocolate and cream are full incorporated. In a separate bowl combine five egg whites and four tablespoons sugar and beat by hand until soft peaks are formed. After the chocolate mixture has cooled a bit gently fold it in to the egg whites. Spoon the batter into the ramekins and place in the refrigerator uncovered until needed. When ready, bake at 400 degrees on a cookie tray for 10 to 12 minutes or until the center does not jiggle. Dust with powdered sugar.
Strawberry French Toast
Cost: $3.16, or $1.58 per serving.
Romantic meals don’t stop at dinner, either. “My first love used to work the graveyard shift at the grocery store, so when he got off work it was breakfast time,” says San Jose, Calif., event planner Darlene Tenes, the founder of Hispanic lifestyle company CasaQ. Her Valentine’s inspiration often included his favorite French toast with mimosas.
Frugal Foodie is a journalist based in New York City who spends her days writing about personal finance and obsessing about what she’ll have for dinner. Chat with her on Twitter through @MintFoodie.
Save more, spend smarter, and make your money go further
Previous Post
Nickel and Dimed: Little Fees Add Up Big
Next Post
Next Stop For Daily Deals: Social Networking and Customization
Browse Related Articles
How to Be a Frugal Foodie On Valentine’s Day
Saving 101
10 Gourmet Meals For $10 or Less
Financial Planning
Frugal Food to Get You in the Mood
<img width="600" height="578" src="https://blog.mint.com/wp-content/uploads/2019/02/Stocksy_txp7a6b9796oKE200_Small_1959302.jpg?w=600&h=578&crop=1" class="rkv-card__media" alt="Valentine’s Day Budget Friendly Ways to Celebrate" decoding="async" loading="lazy" data-attachment-id="9745" data-permalink="https://mint.intuit.com/blog/family/valentines-day-budget-friendly-ways-to-celebrate/attachment/two-beautiful-girls-cooking-in-them-home/" data-orig-file="https://blog.mint.com/wp-content/uploads/2019/02/Stocksy_txp7a6b9796oKE200_Small_1959302.jpg" data-orig-size="866,578" data-comments-opened="0" data-image-meta=""aperture":"0","credit":"Santi Nunez / Stocksy United","camera":"","caption":"Two beautiful girls cooking in them home. Multiracial relationship concept.","created_timestamp":"0","copyright":"All Rights Reserved","focal_length":"0","iso":"0","shutter_speed":"0","title":"Two Beautiful Girls Cooking In Them Home.","orientation":"0"" data-image-title="Valentine’s Day Budget Friendly Ways to Celebrate" data-image-description="
My monthly Extraordinary Lives series has been a lot of fun, and I’m back with another inspiring interview. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Amanda, who is now living debt free after paying off $133,000 in three years and seven months.
I’ve been following Amanda – @debtfreeinsunnyca – on Instagram for quite some time, and I’m so happy that I was finally able to interview her!
In this interview, you’ll learn:
How Amanda got into debt.
Why she decided to get out of debt fast.
The expenses she cut so that she could pay off her debt quickly.
What she thinks about the cash envelope method.
The sacrifices she made to reach her goal.
What she did to stay motivated.
And more! This interview is packed full of valuable information!
I asked you, my readers, what questions I should ask her, so below are your questions (and some of mine) about Amanda’s story and how she has accomplished so much. Make sure you’re following me on Facebook so you have the opportunity to submit your own questions for the next interview.
Related content:
Tell me your story.
Hey Michelle! Thank you for the opportunity. Here is my story.
I was 22 years old and working as a massage therapist on a cruise ship when I was diagnosed with carpal tunnel and cubital (elbow) tunnel. The career that I had trained for was no longer an option. I had to start over and pick a new career. Tired of working commission jobs where your paycheck depends on how good of a salesperson you are, I sought out an in demand, well-paying career in cyber security.
Like any normal person would do, I took out student loans to cover my tuition. I didn’t pay any attention to how much I was borrowing or the interest rate. I figured I would be making the big bucks when I graduated and could afford the payments. To make that happen, I worked hard to get into my field and landed an internship during my first year in school. By the time I graduated, I had already been in the IT field for several years.
So, was I making the big bucks now? Nope, not even close. There was no big, fat pay raise when I graduated. Reality slapped me hard in the face when I realized I wasn’t going to be able to afford my student loan and car payments with my small salary in California.
I knew I had to do something to clean up my mess. Years before I had tried to get out of debt by following Dave Ramsey’s plan, but reverted to my old ways after going through some personal things. Wanting to give it another try, I enrolled in Financial Peace University. I also went back to school for my master’s degree. This allowed me to defer my loans while cleaning up my mess. The best part was the company I now worked for reimbursed tuition for degrees that are related to your field.
My debt was over $80,000 and consisted of student loans, a car, and a small credit card. Once I committed to doing a zero-based budget, I started to see some great progress. I was sharing all my progress with my then boyfriend, now husband. I tried to get him on board, but he wasn’t interested at the time. After a few months of hitting it hard, I started to get mad that my balance wasn’t going down as fast as I wanted it to. It was going to take me forever to get out of debt!
That’s when I had my second “I’ve had it” moment where I was now ready to take action. The Prius I was upside down on had to go. It was a drastic, but necessary move. I quickly saved up $5,000 for a used Honda Civic and sold my car. With one transaction I got rid of $17,000 worth of debt. It felt like I was getting somewhere now! Because of my past, dumb mistakes, I had to take out a $7,000 loan to cover the difference I was upside down on. Owing $7,000 is WAY better than owing $24,000. I consider this to be the best financial decision I’ve ever made. It catapulted my debt snowball and provided the motivation I needed to continue.
After seeing my progress and going through FPU, Josh got on board and started paying off his debt. He cash flowed my engagement ring and proposed several months later! We paused our debt free journey and cash flowed $14,000 in six months for our wedding and honeymoon.
With the wedding behind us, it was time to get to business. Together we had a total $133,763 in debt. Josh added a truck and multiple credit cards to the pile of debt. We combined our accounts, started doing a zero-based budget, and utilized cash envelopes to stay on track. We both worked to increase our income while keeping the same lifestyle. After three years and seven months of hard work, we became debt free on July 5th, 2018!
How much debt did you have and what was your debt from?
Our debt totaled $133,763 and consisted of 16 student loans, 8 credit cards, 2 vehicles, and 1 personal loan. Nearly half of our debt was my student loans from my associate’s and bachelor’s degrees.
Why did you want to get out of debt fast?
It’s an awful feeling not having enough money to pay your bills or having to tell your friends/family you can’t go out because you’re broke. I wanted to get out of debt fast so I could afford my bill and have money to do the things I enjoy.
My why evolved over time when Josh and I started talking about our future together. He almost bought a sailboat when he got out of the Army years ago. Josh ended up moving back to San Diego instead, and then we met. He shared his dream with me, and I was immediately on board. I had been obsessed with tiny house living, and having worked on cruise ships, I loved the water. Getting a sailboat and one day quitting our jobs to travel became our new why.
How long did it take you to pay off your debt and reach debt freedom?
We spent three years and seven months working on paying off all our debt. The first year I was on my own. We weren’t married yet, and it took some time to convince Josh to get on board. After getting engaged, we paused our debt payments for six months to cash flow our wedding. We finished up the remainder of our debt a year and a half after we were married.
How did you manage to get out of debt so fast?
Getting out of debt can be broken down into two areas: increasing your income and cutting your expenses. We did both during our journey.
Our income increased by $75,000 during our debt free journey. This was from raises, overtime, and on-call pay. How did we do this? I attribute a lot of my success to working while I was going to school. I landed a part-time internship when I was in my first year of school. It allowed me to work my way up the ladder faster and increase my income. While in my master’s program, I managed to get into the IT Security department at my company. It came with a significant pay increase and each yearly raise has been a generous amount.
Josh also works in IT. He doesn’t have a degree, but his eight years of experience in the Army and his drive more than make up for it. Josh manages critical applications and is one of the go-to people in the IT department. He’s on-call and often working overtime. His skills and work ethic have earned him well deserved pay increases over the years.
Cutting expenses also helped us reach debt freedom faster:
Housing
For most of our journey, we lived in a small 550 sq. ft house to keep rent low. This saved around $400 a month for the 2.5 years we lived there. That’s $12,000 saved!
Vacations
Other than a honeymoon, we didn’t go on a vacation during our whole debt free journey. We had a few small trips: graduation, a wedding, Christmas in Tennessee with my family, which my mom paid for because she wanted to see us while supporting our journey.
Instead of traveling, we found free things to do in San Diego. Going hiking with the dogs was one of our favorite things to do. We also hung out with friends at their house instead of going out. We would cook dinner and watch a movie or TV series.
Hobbies and fun
Josh has a lot of expensive hobbies that he put on hold during our debt free journey: spear fishing, fishing, tech stuff, etc. I didn’t have any hobbies since my life was consumed by work and school. We cut out restaurants, date nights, movies, and excessive clothing. If we wanted to go out to eat or buy booze, it would come out of our budgeted spending money. There were a lot of Netflix and chill nights! Our date nights consisted of grilling out in our yard and sitting by the fire pit. We did budget for date nights whenever we hit a big milestone.
Work perks
Josh and I work at the same company, which allowed us to carpool to save money. Additionally, our company has amazing benefits. Our health and dental insurance are extremely affordable, both of our cell phones are paid for because we’re on call, and we’re able to make up missed hours instead of taking PTO if we need to leave work for some reason.
Can you tell me about cash envelopes? How does it work and why do they help?
Cash envelopes are a budgeting method where you take out cash for specific categories instead of using your debit/credit card for purchases. Each payday we take out money for groceries, gas, spending money, and any sinking funds we’re saving for. For that two-week period, all groceries come out of the grocery envelope. Same with gas and spending money. Once it’s gone, it’s gone! There’s no money left in our accounts because it’s all been paid to debt, so you better spend the money wisely! We had our emergency fund in case anything happened, but spending too much on groceries is not an emergency.
This method really helps curb your spending because you feel it more when you use cash. It’s also easy to look in your wallet and see how much money you have for each category to stay on track. Josh is a spender and he’s had great success with cash envelopes. I had a wallet with several dividers made for him to make it easy.
A lot of people are scared to carry around cash. I think the benefits of using cash outweigh the risk of losing it or it being stolen. I suggest only carrying around the amount that you need and leaving the rest at home in a safe until you need it. If anything were to happen, you always have your emergency fund to fall back on.
What is your response to people that say, “You should invest that money instead of paying off the debt, you’ll earn more in the long run…” etc.?
Ahhh the age-old argument! My response is do what works best for YOU! Everyone’s situation and priorities are different.
When I started, I didn’t have a choice because I wasn’t going to be able to afford the minimum payments on my debt! As we got further into our journey, sure we could have invested, but paying off debt was more important to us. Becoming debt free is a sure thing and will force you to change your spending habits for the better. I never want to get in a bind and have to pull out investments early because of debt or bad spending habits.
What sacrifices did you have to make in order to become debt free?
The biggest sacrifice I made to become debt free was selling my beloved Prius for a 2005 Honda Civic. At first, I didn’t want to sell it. I was going to try and get out of debt while keeping the car. After eight months of paying down my car loan and not making a lot of progress, I realized I had to make some bigger sacrifices, otherwise I would fall back into my old spending habits and go further into debt. I still miss the ability to get into my car without taking the keys out of my purse and the convenience of Bluetooth! My used Honda is old and janky, but it’s paid off!
Often people paying off loads of debt feel they have to choose between “living life” and making payments. Were there any times during the journey that you chose to “splurge”?
There were a few times we splurged! We got sick and tired of living in a small house, so we moved into a bigger rental with office space and a yard for the dogs. Before moving we did a cost analysis on the expenses to determine if it was worth it to us to push back our debt free date by a few months or stick it out and continue living the same way.
Our new place was so empty when we moved in. Imagine going from 550 sq. ft to over 1,300! We didn’t even have a table. We spent a few weeks buying furniture and things that we needed for the house before getting back into the swing of things.
Another big splurge was a complete surprise to me! I had been eyeballing this nice Canon DSLR camera and planned on getting it as a debt free gift to myself. Right before I graduated with my master’s degree, my mom was in California on a travel nursing assignment. She knew we were on a strict budget and would say no to most things that cost money. My mom told me she won $150 gift card and wanted to use it to take us out to eat.
I agreed because who passes up free!? During dinner, I kept making comments about us going all out because we have to use up the gift card. Avocado eggrolls, pizza, and several beers later, Josh said he forgot his wallet out in the truck and went to grab it. He came in the door behind me and set a big present on my lap! I immediately knew it was the camera!
So, how did Josh get this big purchase by me? He’s a veteran and was in school at the time. Veterans get a housing allowance each month while in school per the Post-911 GI Bill. The money was deposited into his personal checking account, and then he moved it to our joint checking every month. He told me that the allowance was delayed that month because of paperwork! I completely bought it. Josh used the money to go in on my graduation gift with my mom.
And the gift card? There was no gift card! They knew the only way to get me to a restaurant during our debt free journey was to lie to me and say she had a gift card. The total with tip came out to just over $150.
What did you do to stay motivated?
It’s so important to find ways to stay motivated when you have years of work ahead of yourself. Because I had fallen off track once before, I knew I had to find better ways to stay motivated and focused.
Visuals were by far my favorite way to stay motivated. I had multiple charts, spreadsheets, and countdowns going at home and work. Every time we made a payment towards debt, I would get to color in charts, change Excel spreadsheets, and update the whiteboard at work. Having reminders where you’ll see them every day is extremely motivating.
I also sought to find other people on the same journey. Back in 2014, there weren’t a lot of people on Instagram sharing their progress and journey. I found a small group of people from searching #debtfree and #daveramsey, and started following them. The hashtags started to get polluted by people selling those skinny teas and weight loss wraps. I put out a call to the small community, and we decided to vote on our own hashtag. That’s how the #debtfreecommunity was born!
It’s so motivating to talk to people who are going through the same thing. In real life, none of my friends or coworkers were trying to get out of debt. Their eyes would gloss over when talking about budgets or paying off a debt. Every time I opened Instagram, I would immediately be motivated by another person’s journey or the lovely comments left on my posts.
If you were starting back at ground zero, what would you do differently?
There are so many things I would do differently! First off, instead of getting a $12,000 car when I was 16, I would save up a few thousand and buy a used, reliable car. That one decision would set my life on a much better path! I’d be able to save up money and pay for school upfront, which is my next point. I would spend more time figuring out what I want to do in life and researching schools. I’d make sure to pick a career that is not commission based and makes a great salary. I would start investing early in life, even if it was only $100 a month. I would continue to pay cash for purchases, save money, and invest.
What is your very best tip (or two) that you have for someone who wants to reach the same success as you?
Hands down the best tip I can give is to create a zero-based budget and stick to it. A budget doesn’t sound sexy or fun, but it gives you freedom to spend money on the things that matter to you. Budgeting doesn’t mean you have to cut out all your fun! Put it in the budget. The point is to know where your money is going and to spend it intentionally. Don’t resist the budget!
The second tip I can give is to find your people! It’s hard to stay motivated to pay off debt or save when all your friends are spending money left and right. Having a supportive group of people that get you is priceless.
What’s your next financial goal?
Our next financial goal is to save $25,000 for our 6-month emergency fund. We want to be prepared for anything that comes at us!
We keep $2,000 in a local savings account and the rest will be in a high interest savings account. Transferring money from our large emergency fund to our checking account takes a few days, which is great because it helps prevent us from dipping into it for non-emergencies.
The emergency fund will cover all of our expenses for six months with minimal cuts to the budget. It’s going to be a huge relief to have money set aside just in case. No more money fights when something unexpected happens!
Where can my readers go to learn more about you?
You can learn more about us by following along on Instagram.
Do you have any other questions for Amanda? Are you trying to pay off debt?
The first of the month means it’s time, once again, to pay the rent.
While there’s a powerful incentive to remember — and some fairly painful consequences if you forget – you can set yourself up for success with a few suggestions.
When you forget…
The rent is generally due the first day of the month, for most renters – and the typical landlord holds hard and fast to that requirement. If you’re late, then extra fees and a certified or cashier’s check, which carries yet another fee, just might be in your future.
Luckily, there are ways to help yourself remember to pay the rent on time.
Automate your rent payment
The simplest effort might be to set up a recurring payment to get funds from your bank to your landlord on time each month. Use a rent service to help you keep the first of the month foremost in your mind by setting an automatic, recurring payment. Remember it is a must, however, that adequate funds to cover the rent are available in your account before a service makes the rent transfer transaction.
Prioritize (and organize) your bill paying
When you establish your own organized system for keeping up with your financial responsibilities, you are much more likely to remember one of the most important of those debts.
Try separating paper bills in a central spot where you place newly-received bills each day as your return with the daily mail. The key is to prioritize this step EVERY DAY! You can schedule your recurring bills based on when they are due, remembering also when you get paid.
The rent — typically one of the largest single expenses for many people — is a bill you must accommodate at the same time each month. Luckily for your planning purposes, the rate is usually set for the year and doesn’t fluctuate!
You might also consider an app like Check to help you manage your finances from your mobile device.
Enlist some memory help
If you live with others – girlfriend, boyfriend, roommate, family member – why not team up to help each other remember the rent? Two or more heads may be better than one when it comes to showing up with the money.
Set electronic or physical reminders
If you carry a smartphone or even a basic cell phone, you can likely set a monthly reminder to jog your memory when the times comes around to pay the rent. Set a schedule on your personal or work calendar, the one associated with an email address you check without fail each day. If that falls through, stick a sign on your door or near wherever you keep your keys.
Write your own “rent reminder” theme song
You might even compose your own little ditty, a paean to rent payment. The genre of music seems important: a little blues might fit the spirit. After all, Tom Petty has an apartment song.
Five hundred, twenty-five thousand, six hundred… payments? Anyone?
It’s always important to remember that just because someone is famous or successful, it doesn’t mean they’re a good person. Unfortunately, celebrities have served as living examples of how people may conceal their heinous crimes simply because they are famous.
In this post, we’ve identified ten celebrities who committed bad things but were “forgiven” because they were famous.
1. Vince Neil of Mötley Crüe
Vincent Neil Wharton, better known as Vince Neil, is an American musician, primary vocalist, and occasional rhythm guitarist for the heavy metal band Mötley Crüe from their inception until 1992.
One Redditor shared, “Vince Neil of Mötley Crüe drove drunk, killed one of his very good friends, and gave the two people in the other car very bad injuries and brain damage. He also had other DUIs after this. But hey, everybody loves a good party song, and now he has a famous liquor brand.”
Another added, “He also beat a woman so severely it ruptured a breast implant.”
A user ended the thread with a comment, “Jesus Christ, what kind of monster punches a woman in the front?”
2. Floyd Mayweather
Floyd Joy Mayweather Jr. is a former professional boxer and boxing promoter from the US. He presently owns The Money Team Racing, a NASCAR Cup Series team.
One Redditor posted, “Floyd Mayweather beats his wife with hands that are registered as lethal weapons in front of his children. But because he wins, nobody cares.” Another added, “He has always seemed like such a d** lol.”
3. R Kelly
Robert Sylvester Kelly is an American musician, composer, record producer, and convicted s*x offender.
One user said, “R Kelly married Aaliyah when she was 15 years old in the mid-’90s, and yet it took like two decades for people to start boycotting him as a sexual predator. He was still making songs with Beyonce, Lady Gaga, etc., for a looooong time.”
“I remember after Aaliyah died, there was an interview with the guy who’d been her boyfriend at the time of her death. Apparently, the whole R. Kelly thing shook her up, and she didn’t like to talk about the subject at all. No surprise there,” someone replied.
4. Rick James
Rick James, born James Ambrose Johnson Jr., was an American singer-songwriter, guitarist, and record producer. James began his musical career as a teenager, having been born and reared in New York.
One user shared, “Rick James kidnapped TWO women with his wife while on separate crack binges.”
“And tortured them, for days on end,” another responded.
A third user ended, “DARKNESS.”
5. Johnny Cash
John R. Cash was a country music singer-songwriter from the US. Much of Cash’s songs, particularly in the latter phases of his career, addressed themes of sadness, moral difficulty, and salvation.
One Redditor shared, “Johnny Cash walked out on his wife and kids saying that his career was more important to him than they were, then went on to eventually settle down with June Carter and start a whole new family while ignoring the kids he already had.”
“I’m pretty sure they made a whole movie about this,” another commenter responded.
One user added, “I’m watching it for a careers class, 10/10 not a great movie.”
6. Boy George
Boy George is an English singer, songwriter, DJ, author, and mixed media artist and has been the lead vocalist of the musical band Culture Club. He is well renowned for his baritone vocals and androgynous look.
A commenter posted, “Boy George. He beat a guy with a metal chain after cuffing him to a radiator. Should make for an interesting sequence in his forthcoming biopic…”
One user asked, “Why did he do that?”
“He really wanted to hurt him,” one Reddit user responded.
“He really wanted to make him cry,” another user added.
7. Jimmy Page
James Patrick Page is an English musician best known as the guitarist and founder of the rock band Led Zeppelin. In addition, Page is a prolific creator of guitar riffs.
One user shared, “Jimmy Page also dated a 14-year-old when he was 28. Edit: ‘dated’. Edit: KIDNAPPED and R*PED.”
Another user added, “There was a groupie called Lori Maddox who Jimmy Page started dating when she was 14. David Bowie took her virginity when she was 15, and Mick Jagger gave her cocaine and slept with her while she was still underage. You never hear about any of this.”
“Listen to Stray Cat Blues. He straight-up sings about f*cking 15 yr old. Doesn’t even want to see their id,” another responded.
“It’s not even subtle,” another Redditor replied.
8. Piers Morgan
One Redditor shared, “Piers Morgan was the editor of the Daily Mirror during the Iraq War, published photos that he knew were fake of American and British Troops abusing Iraqi prisoners. He was fired but somehow managed to make a successful media career out of it.”
Another replied, “One of my favorite videos of him is the one where he tried to shame that Love Island girl because she didn’t know Pythagoras’ Theorem, and when asked if he knew, he started reciting the digits to Pi.”
“The assumption he makes—that being able to recite pi ‘to, say, the first five digits’ is the basest form of faux-intellectualism, too.
It’s what a four-year-old might think of as the pinnacle of cognitive achievement.”, one user added.
“And incorrectly reciting Pi, at that,” one user confirmed.
9. George Wallace
A user shared, “George Wallace—the infamous pro-segregation Governor of Alabama in the 60s—did not inform his wife that her doctor diagnosed her with cancer (doctors during this time often told patient’s relatives of their cancer diagnosis instead of the patient, especially if the patient was female). The reason was that she was running for governor as a surrogate for him since he had reached his term limits, and he thought that the diagnosis would negatively affect her chances of winning. She ended up finding out about it four years later during a visit to a gynecologist. Still, unfortunately, the cancer had progressed to the point that she died from it three years after learning that she had cancer and that her husband had known about it.
“He ended up successfully getting the term limits repealed and went on to serve a few more terms as governor. People forget about this, I’m assuming, because of all of the other sh*tty things he did. Edit: Her name was Lurleen Wallace, for those interested.”
Another user commented, “Well, he was shot in an assassination attempt in Maryland and was paralyzed from the waist down. Karma’s a b*tch.”