The 10% Solution
Charles J. Givens in his best-selling book More Wealth Without Risk advocated what he termed “The 10% Solution” in order to go from paycheck to prosperity.
It’s a pretty straightforward system.
Givens said we should pay ourselves first by taking 10% out of our of our very next paycheck and sending that amount to a no-load mutual fund family (a topic which we’ll address in a later Curtis Money post).
Not ready for mutual fund investing? A savings account works just as well.
If you’re literally living paycheck to paycheck, write down each and every one of your expenditures and figure out which ones you can eliminate all together (such as a cable TV bill) and which ones you can spend less money on (such as feasting on frozen pizzas instead of pizza parlor pizzas).