I’m fascinated by those “earn $7,000 a month at home part time!” commercials that seem to constantly air during low-rated television programming. These commercials seem to contain a number of people who discovered a “path to wealth” from their living room and they discuss how easy it is – anyone can do it, after all.
I’m mostly fascinated because people are willing to believe that a high income is really that easy. By talking up the “part time” and “from home” aspects of the scheme, it’s actually targeting the people without much work initiative, convincing them that you can make money that easily. While the plan might have some potential for money making, I can certainly tell you that success won’t come from the plan, but from the work you put in to make it so.
Having said that, I will let you in on a little secret. You can become a millionaire in just five minutes a day – if you choose those five minutes well, do the right thing during those five minutes, and don’t undo that effort later. Don’t believe me? Here’s how.
Each day, spend five minutes not buying unnecessary stuff. Look through your cart before you check out and yank out the stuff you don’t really need. Stop before you buy an armful of clothes or a book or a video game or a DVD and put that unneeded stuff back. Walk out of the store without buying that expensive item. More importantly, don’t go back and undo that smart move.
Then, on days when you don’t go out, spend five minutes investing the money you’ve saved not buying unnecessary stuff. At first, just hold it in a savings account, then eventually move that cash into a low-cost index fund and set the dividends to reinvest.
That’s it. If you do even half the unnecessary spending of the average American, given enough time, you will become a millionaire. Just five minutes a day – that’s all.
Unfortunately, that’s not the easy plan to riches that is being sold on that television commercial.