http://www.howisavemoney.net/save-money/huge-debts-paid-off-fast/ Tips and tricks to save money, manage credit and reduce debt Fri, 10 Feb 2012 17:53:29 +0000 hourly 1 http://wordpress.org/?v=3.1.2 http://www.howisavemoney.net/save-money/huge-debts-paid-off-fast/#comment-10 J.D. @ Get Rich Slowly Tue, 14 Nov 2006 15:49:40 +0000 http://www.howisavemoney.net/2006/11/14/huge-debts-paid-off-fast/#comment-10 The "Huge debts, paid off fast" article does include stories from people with various incomes, but most of them are average earners or above. I'm actually working on an entry (or series of entries, if it comes to that) about building wealth on minimum wage. I found a library book that touches on the subject, though it leaves it fairly quickly. I think that ultimately the "rules" for obtaining wealth on minimum wage are the same for everyone else (spend less than you earn, etc.), they're just more difficult. There's very little a person on minimum wage can do to cut expenses -- they're already probably cut to the bone -- so it becomes imperative to *raise* income, either through a second job or by acquiring skills to get a better job. It's a tough issue. I hope my current research pays off with a good entry (or two or three) sometime soon. The “Huge debts, paid off fast” article does include stories from people with various incomes, but most of them are average earners or above. I’m actually working on an entry (or series of entries, if it comes to that) about building wealth on minimum wage. I found a library book that touches on the subject, though it leaves it fairly quickly. I think that ultimately the “rules” for obtaining wealth on minimum wage are the same for everyone else (spend less than you earn, etc.), they’re just more difficult. There’s very little a person on minimum wage can do to cut expenses — they’re already probably cut to the bone — so it becomes imperative to *raise* income, either through a second job or by acquiring skills to get a better job. It’s a tough issue. I hope my current research pays off with a good entry (or two or three) sometime soon.

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