Comments on: How To Get Rich: The Devil Must Be In The Details http://millionairemommynextdoor.com/2009/05/how-to-get-rich-the-devil-must-be-in-the-details/ A self-made millionaire shares her recipe for success, happiness and financial freedom Tue, 15 May 2012 20:28:46 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: MakingaMillionDollars http://millionairemommynextdoor.com/2009/05/how-to-get-rich-the-devil-must-be-in-the-details/comment-page-1/#comment-3415 MakingaMillionDollars Tue, 03 Aug 2010 13:45:46 +0000 http://millionairemommynextdoor.com/?p=577#comment-3415 For most people, especially ones that are upside down on a home or car and have families, increasing their income is the best alternative. There are many ways out there these days to make and extra $1000 per month, it just takes the hard work to develop that income initially. Cutting costs is also a great way, but may not be practical for some. I have done both. For most people, especially ones that are upside down on a home or car and have families, increasing their income is the best alternative. There are many ways out there these days to make and extra $1000 per month, it just takes the hard work to develop that income initially. Cutting costs is also a great way, but may not be practical for some. I have done both.

]]> By: Sarah http://millionairemommynextdoor.com/2009/05/how-to-get-rich-the-devil-must-be-in-the-details/comment-page-1/#comment-3199 Sarah Sun, 09 May 2010 03:55:31 +0000 http://millionairemommynextdoor.com/?p=577#comment-3199 I like a lot of your no-nonsense advice, but I also think you don't necessarily take into account people who a) are already in deep trouble and want help to turn their situation around, and/or b) have moral or religious beliefs that conflict with a money-first outlook. My husband & I have 4 (soon to be 5) children, 2 of whom we foster. We feel that foster parenting is a noble calling, and fulfils not only our family-first priorities, but also our desire to give back out of gratitude for our many blessings. (Also, not everyone supports the liberal view of family planning.) Prior to embarking upon this rewarding and enlivening journey of parenthood, we had made some poor financial decisions (student loans, car loans) which put us in the difficult position of having more debt than our combined income could justify. (It didn't help that the sharp drop in auto prices immediately after purchasing a car put us way upside-down on the loan for it.) For the past 2.5 years we have been doing all we can to cut expenses and increase our income, but with such a large family we absolutely cannot downsize our home (we're already crowded!), nor can we all fit in one vehicle. Even if we never went anywhere (impossible with foster children), we can't get out of an upside-down car loan with our current debt load. Knowing how to avoid our situation is great, but too late. Knowing what to do now, that would be better. I like a lot of your no-nonsense advice, but I also think you don’t necessarily take into account people who a) are already in deep trouble and want help to turn their situation around, and/or b) have moral or religious beliefs that conflict with a money-first outlook.

My husband & I have 4 (soon to be 5) children, 2 of whom we foster. We feel that foster parenting is a noble calling, and fulfils not only our family-first priorities, but also our desire to give back out of gratitude for our many blessings. (Also, not everyone supports the liberal view of family planning.) Prior to embarking upon this rewarding and enlivening journey of parenthood, we had made some poor financial decisions (student loans, car loans) which put us in the difficult position of having more debt than our combined income could justify. (It didn’t help that the sharp drop in auto prices immediately after purchasing a car put us way upside-down on the loan for it.)

For the past 2.5 years we have been doing all we can to cut expenses and increase our income, but with such a large family we absolutely cannot downsize our home (we’re already crowded!), nor can we all fit in one vehicle. Even if we never went anywhere (impossible with foster children), we can’t get out of an upside-down car loan with our current debt load.

Knowing how to avoid our situation is great, but too late. Knowing what to do now, that would be better.

]]> By: Jerry http://millionairemommynextdoor.com/2009/05/how-to-get-rich-the-devil-must-be-in-the-details/comment-page-1/#comment-1815 Jerry Fri, 05 Jun 2009 15:28:39 +0000 http://millionairemommynextdoor.com/?p=577#comment-1815 We are doing both! I have returned to school, which will lead to more income when I'm done, and we have cut back on almost everything - the funny thing is, we are united in this effort and we don't even feel like we are deprived of anything (except maybe some stuff that isn't available where we are living overseas). Doing both is the ultimate insurance for achieving financial success, I think, and it cuts the time that it takes to get there... Jerry We are doing both! I have returned to school, which will lead to more income when I’m done, and we have cut back on almost everything – the funny thing is, we are united in this effort and we don’t even feel like we are deprived of anything (except maybe some stuff that isn’t available where we are living overseas). Doing both is the ultimate insurance for achieving financial success, I think, and it cuts the time that it takes to get there…
Jerry

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