Thanks for sharing. This is an excellent way towards saving without feeling pain.

For those in the comments saying that this would be a financial hardship, you can also try the One Penny a Day Challenge.

You can Google it, and I’m sure there’s some infographics on Pinterest, but basically, it’s saving X on day X of the year.

So, on January 1st, you’d set aside $0.01, on February 1st, $0.32 (because it’s the 32nd day of the year) and on December 31st $3.65.

Doing this definitely won’t make you rich-rich, but is a way to still save up close to $700 without feeling like you’re shooting yourself in the foot.

The numbers that he had used were just quick, simple, rounded ones, I’m assuming, to show how-with just a simple daily savings-everyone of us can accumulate a cool million dollars in roughly 15 years by following the formula that he had just used.

Wow! You must be a math nerd. Thanks for your effort to make things easier to understand. I’ll try to append the article with this information

You would be better served making this calculation [ hourly wage * 2080 / 8 ] or simply 12.5% of salary. If you are wondering a 40 hour work week equates to 2080 hours.

From the parts I did read, this article makes way too many assumptions that are never mentioned, making it hard to truly educate those who less knowledgeable about personal finance. Lastly 12.5% won’t make many people rich at all, but it’ll “eventually” make you financially independent “if” all goes to plan but doesn’t leave much room for error especially since you’ll be well over 50 before accumulating wealth.

The effort is noted.

What if the person is a single parent. Single doesn’t mean they aren’t taking care of someone. Could be a child, parent etc.