Even before the economic downfall caused by the coronavirus pandemic put wage earners in jeopardy, 78 percent of full-time workers were living paycheck to paycheck. A considerable majority is teetering on the brink of financial ruin. Even those who remain in their current job track will never be able to achieve financial peace of mind.
Frugality, while admirable, will only get one so far. Have you ever heard of someone who became a millionaire by cutting coupons? By refraining from going out for coffee or to restuarants? These are minor adjustments they can make to their daily habits if they wish to save a certain amount for a small project. But, if they evcr want to attain financial success, they will need to generate more revenue.
We’re taught to believe the path to wealth is to get a good education, secure a well-paying job, work hard to impress management, climb the company leader and continue working hard until death or retirement. But that no longer provides anyone a path to financial freedom. To find prosperity, it’s time to scrap most of the traditional ideas about money management. Those who hope to ever attain financial success will need to generate more revenue.
Joining us for our discussion on Mom Millionaires is Dr. Margaret Curlew who is on the phone from her Toronto Canada office. Margaret Curlew, PhD, is a professional, a “mompreneur” and a real estate investor. She is a specialist in income generation and wealth-building, and has mentored and contributed to the success of many individuals. Her latest book is Mom to Millionaire: Finding The Path to Financial Peace
Welcome to Mastering Your Money, Dr. Margaret Curlew.