Compound interest is a crazy thing: If you can save $800 per month, and then invest it at 10% for 25 years, you’ll find yourself 25 years older, and a million dollars richer.
Sounds simple, but executing that plan is not. To help push you along the path to becoming a millionaire, Zen Habits put together a list of 10 Frugalfying Ways To Get To $1 Million, and according to the article, with just a few minor adjustments to your lifestyle, you’ll find yourself making millions without killing yourself, or your pocketbook.
Ideas include making your own coffee, watching DVDs, cutting cable, renting, and reducing power consumption, and many are good regardless of their cost savings.
Combined, these tips will save you over $1,560 per month, so you only need to pick enough of them to save the required $800. Bill Gates, here I come.
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