I agree it was great. Thanks for sharing.
I read the replies and was amazed at the number of people who thought $40,000 a year was poverty. I would be thrilled to death to have that much income.
The key is quite simple -- spend less than you make -- regardless of income.
In my years of doing bankruptcies I've seen families that were basically identical with incomes of over $100,000 and less than $20,000. I could look at the $100,000 family and see the lack of these 10 characteristics and often felt the same way about the $20,000 family. If you cannot live on your income you need to either increase your income or decrease your spending. Yet, with both families I saw resistence to giving anything up.
nice article.
