No Result
View All Result
NEWSLETTER
The Practical Saver
  • Home
  • Save money
    Fun Activity To Do When Bored at Home - Beach Ball Games

    Fun Activity To Do When Bored at Home – 10 Beach Ball Games

    how to get free food with no money

    How To Get Free Food With No Money Fast and Easy

    living on less

    Living on Less: How My Family of 11 Lived on $3/Day

    cash back apps | rebate apps | cashback apps | best coupon app | cashback on groceries | best cash back apps | best receipt app | grocery apps | cash back groceries | money back for grocery shopping | rebates for shopping | shopping rebate | cash back rebate | cash back for shopping | cash back store | shopping rebates | receipt rewards | cash back rebates | app for best prices | rebate sites | get cashback for shopping | save money groceries app | great days out cashback | best app to save on groceries | money back shopping | real grocery coupons | best buy rebates | how to save on groceries with apps | coupon sites grocery | store apps to save money | cash back coupon | 6 rebate | grocery rebate | coupon rebates | cashback best buy | online shopping rebates | coupons on receipts | money back on groceries | cash back at grocery store | top apps store | grocery coupons and rebates | app.receipthog.com Coupons | APPA Coupons | store rebate | rebate money | work incentive apps | shopping to get more cash | coupon rebate | easy cash back | grocery rebates | app that gives you a | shop and get back cash | shopping for cash | Apps that Pay Coupons | Create Supermarket App | store rebates | grocery coupon app | grocery coupon and rebate | food rebate | grocery store purchase | receipt money | shopping to get cash | top grocery coupon sites | rebate cash | money rebate | supermarket app android | apps that save on groceries | checkout 51 coupon | food reciept | food rebates | apps to save on groceries | grocery cash back | online rebate sites | fetch cashback | cash rebate check | just you cashback | earn cashback when you shop | what is cash back at the grocery store | coupon and rebate | rebate shopping | checkout 51 coupons | love the sign cashback | store rebate program | shop and get cash | cash back for groceries | get connected rebate | in store cashback | earn dollars online free easy | earn easy money online for free | rebate shopping | checkout 51 coupons | love the sign cashback | store rebate program | shop and get cash | cash back for groceries | get connected rebate | in store cashback | earn dollars online free easy | earn easy money online for free | free online money earning sites, Best Grocery List App gym accessories on a budget

    9 Best Grocery List Apps To Save and Make Money From

    amazon hacks

    25 No-Brainer Amazon Hacks To Save You Money

    how to stop overspending money

    How To Stop Overspending Money: 14 Tips and Tricks

    Trending Tags

    • Money Saving Tips
    • Frugal Living Ideas
    • Personal Finance
    • Spend less
    • Food Budget
    • Retirement Planning
    • Grocery Shopping
  • Make Money
    free paypal money

    13 Doable Ways to Earn Free PayPal Money Online

    how to make money fast as a kid

    17 Surveys That Pay Cash Instantly

    get paid to watch videos, work from home

    Get Paid To Watch Videos: 15 Easy Ways To Do It In 2020

    how to make money online without paying anything

    Seriously! How To Make Money Online Without Paying Anything

    under the table jobs

    Under The Table Jobs: 14 Paying Jobs To Make Money

    11 Legit, Easy Stay At Home Mom Jobs To Make Money Today

    Make $50 A Day Online: 18 Proven Ways To Make Money

    Trending Tags

    • Earn Money Online
    • make money
    • Passive Income
    • Personal Finance
    • survey sites
    • Investing for Beginners
    • Blog Ideas
  • Budget
    coinstar near me

    Coinstar Near Me: 5+ Money Hacks To Avoid the Fees

    benefits of budgeting

    13 Amazing Benefits of Budgeting Your Money

    get paid to watch videos, budgeting hacks

    Budgeting Hacks: 17 Ways On How To Stick To A Budget

    thanksgiving budget

    Thanksgiving Budget: 13 Easy Ways To Get More For Less

    Christmas tips for Budget shopping

    11 Proven Christmas Tips for Budget Shopping That Work (2019)

    how to create a budget

    How To Make A Budget: 11 Easy Ways To Do It (The Complete Guide)

    Trending Tags

    • Food Budget
    • Holiday Budget
    • Money Saving Tips
    • Personal Budget
    • Frugal Living Ideas
    • Shopping on The Budget
    • Travel Budget
  • Pay Off Debt
    improve credit score

    How to Improve Credit Score: 11 Tips You Need To Know Now

    how to pay off credit card debt

    How To Pay Off Credit Card Debt: 13 Proven Tips That Work

    how to save money, how to pay bills, can't pay bills

    Can’t Pay Bills? 3 Proven Steps To Get It Done

    how to pay off debt fast, student loan debt, pay off student loans, pay student loan education loan save money on back to school supplies Saving you money from insurance, mortgage, gas, parking, registration, and a lot more. financial mistake in college

    How to Avoid These Financial Mistakes in College

    how to pay off debt fast checkout

    How To Get Out Of Debt: $40K Debt to $70K Savings in 2 Years

    how to pay off debt fast, student loan debt, pay off student loans, pay student loan education loan save money on back to school supplies Saving you money from insurance, mortgage, gas, parking, registration, and a lot more. financial mistake in college

    Why College Students Should Consider An Education Loan

    Trending Tags

    • Credit Cards
    • Debt Help
    • Personal Finance
    • Spend less
    • Money Saving Tips
  • Home
  • Save money
    Fun Activity To Do When Bored at Home - Beach Ball Games

    Fun Activity To Do When Bored at Home – 10 Beach Ball Games

    how to get free food with no money

    How To Get Free Food With No Money Fast and Easy

    living on less

    Living on Less: How My Family of 11 Lived on $3/Day

    cash back apps | rebate apps | cashback apps | best coupon app | cashback on groceries | best cash back apps | best receipt app | grocery apps | cash back groceries | money back for grocery shopping | rebates for shopping | shopping rebate | cash back rebate | cash back for shopping | cash back store | shopping rebates | receipt rewards | cash back rebates | app for best prices | rebate sites | get cashback for shopping | save money groceries app | great days out cashback | best app to save on groceries | money back shopping | real grocery coupons | best buy rebates | how to save on groceries with apps | coupon sites grocery | store apps to save money | cash back coupon | 6 rebate | grocery rebate | coupon rebates | cashback best buy | online shopping rebates | coupons on receipts | money back on groceries | cash back at grocery store | top apps store | grocery coupons and rebates | app.receipthog.com Coupons | APPA Coupons | store rebate | rebate money | work incentive apps | shopping to get more cash | coupon rebate | easy cash back | grocery rebates | app that gives you a | shop and get back cash | shopping for cash | Apps that Pay Coupons | Create Supermarket App | store rebates | grocery coupon app | grocery coupon and rebate | food rebate | grocery store purchase | receipt money | shopping to get cash | top grocery coupon sites | rebate cash | money rebate | supermarket app android | apps that save on groceries | checkout 51 coupon | food reciept | food rebates | apps to save on groceries | grocery cash back | online rebate sites | fetch cashback | cash rebate check | just you cashback | earn cashback when you shop | what is cash back at the grocery store | coupon and rebate | rebate shopping | checkout 51 coupons | love the sign cashback | store rebate program | shop and get cash | cash back for groceries | get connected rebate | in store cashback | earn dollars online free easy | earn easy money online for free | rebate shopping | checkout 51 coupons | love the sign cashback | store rebate program | shop and get cash | cash back for groceries | get connected rebate | in store cashback | earn dollars online free easy | earn easy money online for free | free online money earning sites, Best Grocery List App gym accessories on a budget

    9 Best Grocery List Apps To Save and Make Money From

    amazon hacks

    25 No-Brainer Amazon Hacks To Save You Money

    how to stop overspending money

    How To Stop Overspending Money: 14 Tips and Tricks

    Trending Tags

    • Money Saving Tips
    • Frugal Living Ideas
    • Personal Finance
    • Spend less
    • Food Budget
    • Retirement Planning
    • Grocery Shopping
  • Make Money
    free paypal money

    13 Doable Ways to Earn Free PayPal Money Online

    how to make money fast as a kid

    17 Surveys That Pay Cash Instantly

    get paid to watch videos, work from home

    Get Paid To Watch Videos: 15 Easy Ways To Do It In 2020

    how to make money online without paying anything

    Seriously! How To Make Money Online Without Paying Anything

    under the table jobs

    Under The Table Jobs: 14 Paying Jobs To Make Money

    11 Legit, Easy Stay At Home Mom Jobs To Make Money Today

    Make $50 A Day Online: 18 Proven Ways To Make Money

    Trending Tags

    • Earn Money Online
    • make money
    • Passive Income
    • Personal Finance
    • survey sites
    • Investing for Beginners
    • Blog Ideas
  • Budget
    coinstar near me

    Coinstar Near Me: 5+ Money Hacks To Avoid the Fees

    benefits of budgeting

    13 Amazing Benefits of Budgeting Your Money

    get paid to watch videos, budgeting hacks

    Budgeting Hacks: 17 Ways On How To Stick To A Budget

    thanksgiving budget

    Thanksgiving Budget: 13 Easy Ways To Get More For Less

    Christmas tips for Budget shopping

    11 Proven Christmas Tips for Budget Shopping That Work (2019)

    how to create a budget

    How To Make A Budget: 11 Easy Ways To Do It (The Complete Guide)

    Trending Tags

    • Food Budget
    • Holiday Budget
    • Money Saving Tips
    • Personal Budget
    • Frugal Living Ideas
    • Shopping on The Budget
    • Travel Budget
  • Pay Off Debt
    improve credit score

    How to Improve Credit Score: 11 Tips You Need To Know Now

    how to pay off credit card debt

    How To Pay Off Credit Card Debt: 13 Proven Tips That Work

    how to save money, how to pay bills, can't pay bills

    Can’t Pay Bills? 3 Proven Steps To Get It Done

    how to pay off debt fast, student loan debt, pay off student loans, pay student loan education loan save money on back to school supplies Saving you money from insurance, mortgage, gas, parking, registration, and a lot more. financial mistake in college

    How to Avoid These Financial Mistakes in College

    how to pay off debt fast checkout

    How To Get Out Of Debt: $40K Debt to $70K Savings in 2 Years

    how to pay off debt fast, student loan debt, pay off student loans, pay student loan education loan save money on back to school supplies Saving you money from insurance, mortgage, gas, parking, registration, and a lot more. financial mistake in college

    Why College Students Should Consider An Education Loan

    Trending Tags

    • Credit Cards
    • Debt Help
    • Personal Finance
    • Spend less
    • Money Saving Tips
No Result
View All Result
The Practical Saver
No Result
View All Result

Home » Live Rich On A Small Income: This Man Did It

Live Rich On A Small Income: This Man Did It

Allan LiwanagbyAllan Liwanag
April 16, 2018
in How To Save Money
0

This post contains affiliate links. If you click and buy, I may receive a small commission. Please see my full disclosure policy for details. 

Live Rich On A Small Income: This Man Did It
970 shares
  • Share

From time to time, I like reading success stories especially those related to finances. Why?

These stories tell me that there’s more than one way to achieve financial success. These stories tell me that no one can really predict what the future will hold. If you are rich today, it doesn’t mean you’ll be rich tomorrow. The same thing goes with being poor.

If you are poor or in a mountain of debt, it doesn’t mean that your life won’t be on a brighter side.

Related Posts:

  • Save Money Eating Out : The How-To Guide
  • How To Add Multiple $100,000s To Your Account
  • 9 Ways To Save Money on Kids’ Clothes

Live Rich On A Small Income: This Man Did It

Anyhow, let’s go to this man’s story. It’s a story of how one man live on a small income. You’ll find in his tory how to live cheap but good. Here’s an excerpt from the article:

Ronald Read, a Vermont gas station attendant who worked in retail later in life, was a frugal man. He died a multimillionaire at 92. Read had stock holdings and property valued at almost $8 million, most of which was left to Brattleboro Memorial Hospital and Brooks Memorial Library in Brattleboro, Vt., Howard Weiss-Tisman reported in the Brattleboro Reformer.Michele Singletary

And how did he exactly do it?

CNBC’s Michelle Fox explains how a man earning a modest income could amass such a fortune. Fox says one expert said, “Investors would have to invest about $300 a month at an 8 percent interest rate over 65 years.”Michele Singletary

Isn’t that pretty awesome and inspiring? I think it is.

While there have been comments from one extreme to another on that post, I’d say I won’t make any assumptions as to how this man lived. I don’t know him or his family, but it’s pretty amazing that even with a meager salary, one can make a fortune after so many years.

So, what have I learned from his story. I learned that you can live rich on a small income. Duh. But on a serious note, here are the things I learned from this story:

1. Spending as little as you can.

Setting up a goal or budget and following through with it is one of the best ways to live cheap. That’s is why it’s always important to stick with you budget down to the cents. That’s how my wife and I think.

For those of you who tried something new like budgeting, sometimes it’s hard to make it work. Many people even stop trying before they even start doing something new.

My wife and I tried budgeting several times and failed to make them work. It’s frustrating and maddening at times when your budget doesn’t work for you.

If you’ve tried so many tools and are fed up with budgeting not working for you or don’t know where to start but want to, I highly recommend Qapital. It’s a new way to bank that lets you save for the things you want, just by doing the things you do.

With Qapital, your purchases are rounded up to the nearest dollar and those cents are transferred to your specific goals. Also, if your actual expenses exceed your budgeted ones, then, the difference is transferred to your Qapital account.

It’s user-friendly and straightforward. You just create an account, connect your bank accounts, set your goals and rules, and you go are good to go. Qapital uses bank-level SSL and TLS encryption standards, multi-factor authentication, and three-level identity protection. This means your account is safe and secured.

In short, this budgeting tool will work for you. You get the best of everything for FREE. Who doesn’t like that?

Love this app! I was using Digit when a friend recommended Qapital. I have saved more in one month than i did in 6. You set rules for how and when you want money saved. My favorites are a % of your deposits & the “round up” rule. There is no effort, just a feeling of surprise when you see how much your savings has grown! Alicia Cito

To put things in dollar terms, we saved $6,000 last year towards our goals because of Qapital. We went from having budget headaches to perfecting our budget and saving money.

Click here to create a FREE account with Qapital.

Related: Personal Budget Categories to Start Your Budget

qapital app

 

2. Living on a bare minimum.

One of the best ways to living frugally is to trim your expenses to the bare minimum or to the lowest level you can. It is easier than done, but there’s a solution to that.

You can start trimming down your expenses little at a time starting with discretionary items like gas and entertainment expenses and, then, go for mandatory expenses. That process is tedious though and may not work all the time.

The easiest solution that perfectly works is to use Trim. It’s a FREE financial assistant that saves you money. Period. It’s user-friendly, easy to install, and, best of all, it takes the headache from you in finding places to cut expenses.

It analyzes your accounts and searches for ways to save you money on everyday expenses like utilities, negotiates your cable and internet bills, finds you better car insurance, and more.

Last month alone, Trim users saved over $1,000,000. That’s seven figures in savings.

Trim cut our on-contract Verizon phone bill by $16.75/mo. That’s $201/year. (see my bill’s images below).

What’s more interesting is that if you experience outages (e.g. your internet didn’t work for a couple of hours), Trim believes you deserve a credit and it will work with the providers to get you just that.

Click here to start using Trim. I haven’t seen a product like this in a while. I’m glad I use it as it helps my family in more ways we could ever think of. If people like me could save money in the way we didn’t think we could, so can you.

 

verizon trim bill verizon trim bill

 

3. Living frugally.

Living cheap for good starts with making the right decisions. It’s easier said than done, right? Absolutely.

If it were so easy, then, those who want to live cheap could easily do that. In reality, living cheap is difficult but perfectly doable. You just need to know the ins and outs of it. Sometimes, you just need to seek help.

So many products can help you achieve your goals. Some of are paid ones and some are free but will take you time, patience, and dedication to make those work. I went for the simplest and FREE strategies people don’t know of or tend to overlook all the time.

First, ask from people close to you especially those who live cheaply. They’ll be the best people to give you tips from experience. Second, use products that provide unbiased tips, which are on actual data.

My family uses Spentapp and it turned our lives and finances 360 degrees for the better. It’s truly a hidden gem in the financial world with a twist. It automatically analyzes our expenses, identify our money mistakes, and recommends financial decisions, which we use all the time.

It’s user-friendly and easy to install. It even only takes a few seconds to get it up and running. A few seconds with Spentapp could get you started with living cheap and improve your finances for good.

Better yet, it gives us money for simply spending money. It gives us up to 45% cash back on many things.

Why Spentapp? With my brother and Spentapp’s help, we paid off our $40K debt and saved $70K all in 2.5 years, reduced our grocery bill to $150 for a family of 3, and lived off well under $31,000/year. That’s our story with Spentapp. Your great story could be next.

If you need to better manage your finances and make money, too, click here to get Spentapp for FREE.

This app is so smooth. I haven’t experienced any glitches or lagging. The aesthetic is great too, no obnoxious unattractive colours. It helps link you to a vast majority of banks to keep track of your spending and it’s super helpful! Great app. Testimonial from Jas, Spentapp user

Related: Personal Budget Categories to Start Your Budget

 

4. Making ‘time’ your best friend.

Many say that time is gold. Indeed, it is.

Just look at the story of the guy above, he made his fortune by investing early in life. I’ll tell you that there’s money in the stock market especially for those who are into the stock market for the long haul.

One reason that my family’s savings have ballooned is because we invest a lot in the stock market. Over the past four years, the market return has hovered around 22% (on average). You can’t get that rate from the bank.

Picture this, if you put $100 every year for 20 years and get a return rate of 22%/year, you are looking at amassing over $290K. I know how it feels to put your hard earned money in the hands of the stock market. My wife and I have been there. It was the scariest feeling in the world.

Did you ever wish you could invest your cents? Your wish has been granted.

Acorns offers a new concept of investing that’s never been done before. It allows you to invest as little as $0.01. Those cents are invested in Vanguard funds known as the best of the best funds that normally require investors $10,000 or more for initial investment.

It’s user-friendly and easy to install. It only takes a few seconds to get it up and running. You can even set it up once and forget about it.

Frankly, it’s the simplest solution to anyone who wants to invest but are are still holding back. It will roundup your purchases and invest those cents across 7,000 stocks and bonds to improve your return while reducing risk.

Sound great, right? It is, but that’s not all. It will give you cash back offers far higher than those from the biggest cash back sites out there. Plus, you get $5 bonus if you sign up using my link. These are just remarkable.

Some of the great cash back offers include: AirBnB ($200), Walmart (1%), UBER Driver ($15), Sams Club ($10), Groupon (2%), Jet (4%), DirectTV ($25), and Dish ($75).

I’ve only been using Acorns for 7 months and my investment is already around $2,000. My rate of return? It’s 12.5% return in 7 months and that’s without me lifting a single finger. What do banks pay? Banks pay 0.01% per year. See the difference?

Sign up and start with Acorns here and get your $5 sign-up bonus.

Read: 7 Perfect Jobs For Stay-Home Parents To Earn Moneyacorns app

 

5. Living bountiful comes after working hard.

While some were born with a silver spoon in their mouth, unfortunately, many of us were not and had to work our way to success.

Success doesn’t come overnight. It takes practice, luck, dedication, and patience. Think about the big names in the world like Oprah Winfrey, Jeff Bezos, Mark Zuckerberg, and Bill Gates. They had to start somewhere and success didn’t come overnight for them.

They worked hard for it and they earned it.

When you have become successful or reach your financial goals, a lot of great things happen. For my family, we no longer worry about money because we have saved more than enough not to mention the money we get from blogging.

Now, my blog, which earns over $20,000 per month, pays all our bills and investments.

I took a risk, paid of $2.95/mo, spend less than 10 hours a month blogging, and now making more than what my wife and I’s salary combined.

If you are a hard worker and have the drive to succeed, you could succeed at blogging. Click here and take the step now to make big extra money with your blog. 

Our salaries, on the other hand, go straight to savings and other investments.

Because we no longer worry about money, we can focus on other important things like raising our kids, helping out our family, contributing more to Church, etc.

In a way, we learned how to live a luxurious life on a budget.

Read: 9 Ways To Save Money On Children’s Clothes

 

 

one income family budget thanksgiving budget bad investing habits

 

6. Sharing your wealth.

There’s nothing wrong with being rich unless you made it through illegal ways. That’s what I think.

I like to think (and my family takes this into heart) that wealth needs to be shared. After all, once you die, you can’t take your money with you.

This is why a big portion of our money goes to Church.

My wife and I have agreed that our kids won’t be trust-fund babies. They’ll have what they need and a little bit of cushion. But that’s about it.

My wife and I grew up not having a lot of things, yet we survived. We like to pass down these lessons to our kids. If we can survive, they can, too.

So, what are we going to do with our wealth? The big chunk will go to Church and some to other charitable organizations.

Read: 7 Perfect Jobs For Stay-Home Parents To Earn Money

 

Final thoughts:

Can you live rich on a small income? Absolutely, yes. Is it hard? Yes but only at the beginning. If you keep telling yourself that to live rich on a small income is impossible, then, it will be.

On the other hand, if you think the opposite, then, you can make it happen. That’s what my family is doing now and we are loving it.

Do you think you can live rich on a small income? What are some of the ways you do to make sure you save a lot of money?

Related Posts:

  • Save Money Eating Out : The How-To Guide
  • How To Add Multiple $100,000s To Your Account
  • 9 Ways To Save Money on Kids’ Clothes
sa-captivate-placeholder
970 shares
  • Share

Related Posts

Fun Activity To Do When Bored at Home - Beach Ball Games
How To Save Money

Fun Activity To Do When Bored at Home – 10 Beach Ball Games

July 12, 2020
free paypal money
Make Money

13 Doable Ways to Earn Free PayPal Money Online

June 28, 2020
how to make money fast as a kid
Make Money

17 Surveys That Pay Cash Instantly

June 29, 2020
Tags: Money Saving TipsPassive IncomeSpend less
Allan Liwanag

Allan Liwanag

Allan is a recognized personal finance expert, a Level II Certified Cost Estimator, and founder of The Practical Saver. His expertise has been featured in Business Insider, MSN, U.S. News and World Report, Yahoo Finance, NerdWallet, GoBankingRates, AOL Finance, CreditCards.com, HuffPost, Debt.com, Zillow, and Mass Mutual. He was indebted for $40K but paid it all off and saved $70K, at the same time, in 2.5 years under one low income of $39K/year. Now, he enjoys sharing his thoughts and experience on saving money, making money, paying off debt, and budgeting. Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

The Practical Saver

About Allan Liwanag

Allan is a recognized personal finance expert and founder of The Practical Saver. He paid off his $40K and saved $70K, at the same, in 2.5 years under $39K/year salary.

His expertise has been featured in Business Insider, MSN, U.S. News and World Report, Yahoo Finance, NerdWallet, GoBankingRates, AOL Finance, CreditCards.com, HuffPost, Debt.com, Zillow, Mass Mutual, and various local media outlets. Read more

Next Post
pay off student loans faster How to Stop Living Paycheck to Paycheck

10+ Ways To Pay Off Student Loans Faster

NEWSLETTER

Don’t miss any new posts ever again! Subscribe to my mailing list to receive updates direct to your inbox! 

Click here

SITE LINKS

  • Contact me
  • About me
  • Careers
  • Advertise
  • Start here
  • Privacy
  • Sitemap

ABOUT ME

I am Allan Liwanag – The Master of Practicality. 
My family was indebted for $40K in 2013. Five years forward, we have saved more than $400K. We did that with trick-less, simple, effective money management that most people tend to overlook.

The Practical Saver Copyright © 2019.

No Result
View All Result
  • Home
  • Save money
  • Make Money
  • Budget
  • Pay Off Debt

The Practical Saver Copyright © 2019.