There is a simple fact that many people miss: you will never grow wealthy if you spend everything you earn. Regardless of how much money you earn, you need to put some aside in savings. Having a cash cushion is nice because it helps you prepare for unexpected expenses and helps you avoid debt. But there is another reason that saving money is important – because of taxes and other factors, money saved is worth more than money earned!
I have practiced the same debt elimination and savings techniques for years, and do so quite aggressively, though more conservatively than one of my best friends. I am 60% there in savings and my only debt is my mortgage payment. My best friend in 23 years reached 130% of his goal to become a millionaire. He began with $3000 and was more aggressive in his investing than I have been. My point is, he made it…retired last year and is living off his retirement, social security and investments to the tune of $150,000 per year. He owns two homes, bought a boat and is traveling and enjoying his life to the fullest. My goal is to follow in his footsteps. All of this takes discipline and sacrifice, but believe me it can be done by anyone, so don’t think this is a bunch of bull…anyone can do it, but you MUST make saving a life time habit. Set short term savings goals and work hard to reach them. Once you reach a short term savings goal, set your next savings goal and continue to work hard to reach it. Then repeat, repeat, etc.
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The answer is geography. Just picture a map of China and a map of Europe. China has a smooth coastline. Europe has an indented coastline, and each big indentation is a peninsula that became an independent country, independent ethnic group, and independent experiment in building a society: notably, the Greek peninsula, Italy, the Iberian peninsula, Denmark, and Norway/Sweden. Europe had two big islands that became important independent societies, Britain and Ireland, while China had no island big enough to become an independent society until the modern emergence of Taiwan. Europe is transected by mountain ranges that split up Europe into different principalities: the Alps, the Pyrenees, Carpathians — China does not have mountain ranges that transect China. In Europe big rivers flow radially — the Rhine, the Rhone, the Danube, and the Elbe — and they don't unify Europe. In China the two big rivers flow parallel to each other, are separated by low-lying land, and were quickly connected by canals. For those geographic reasons, China was unified in 221 B.C. and has stayed unified most of the time since then, whereas for geographic reasons Europe was never unified. Augustus couldn't do it, Charlemagne couldn't do it, and Napoleon and Hitler couldn't unify Europe. To this day, the Europe Union is having difficulties bringing any unity to Europe.          
To understand these losses in extreme isolation, the easiest case to understand is Japan, because the loss of firearms in Japan was witnessed and described. It took place in a literate society. Guns arrived in Japan around 1543 with two Portuguese adventurers who stepped ashore, pulled out a gun, and shot a duck on the wings. A Japanese nobleman happened to be there, was very impressed, bought these two guns for $10,000, and had his sword-maker imitate them. Within a decade, Japan had more guns per capita than any other country in the world, and by the year 1600 Japan had the best guns of any country in the world. And then, over the course of the next century, Japan gradually abandoned guns.
Comfort. Perhaps the biggest thing that you’ll need to do in order to create a successful B&B is to make sure that your guests are as comfortable as they can be. Remember, they’re paying more for the experience of being comfortable away from home. As a trial, spend a night in the room in your house that you intend to rent and view things from a guest’s point of view. Is the temperature comfortable? Is the bath in the room, or at least a comfortable distance away while still being private? Is the bed soft and inviting? The pillows? Is the bedroom interior design, including colors, soothing? Can you hear household noises, or do you feel that you’re in a world of your own? All of these are important questions to ask yourself, but the answers will determine whether or not your guests recommend your place, or come back for another stay. Think about all the minor inconveniences and discomforts that you’ve just gotten used to over the years, and remember that a paying guest might not tolerate those problems for a night. You may need to spend a little money to fix these issues.

When it comes to at-home income, selling your unwanted stuff is the definition of “low-hanging fruit.” Even if you’re resolutely intentional in your purchasing habits, you surely have possessions that you can do without: old kids’ clothing and toys, disused sporting goods, out-of-fashion wardrobe accessories, electronics, entertainment, valuable but non-sentimental keepsakes such as watches and jewelry, broken-in furniture, dusty tools and outdoor equipment, and perhaps even big-ticket items like a motorcycle or second car.


On their own websites, bloggers make money by selling their own products or advertising others. Advertising revenue is generated through advertisements, sponsorships, or affiliate marketing. In addition to their own blogs, many bloggers look for online writing jobs. Freelance writing provides a steadier stream of income than blogging, and it is easier to start making money quickly – making it a great way to supplement your income as you grow your own blog.
I started my little photography blog 5 years ago while I was a law student.  I could never have dreamed it would become a full-time job (yes, I did become a lawyer but I started earning far more from my blog than I could have as an attorney, so I don’t practice law anymore).  I recorded a 35-minute audio podcast with my wife about how exactly we got started that you can listen to here.  I’ve gotten tons of emails from readers who have told me they really appreciated that episode.
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