Healthy Holistic Living
Advertisement

Former President Jimmy Carter Lives In A $167,000 House And Shops At The Dollar General

loading...


Wouldn’t it be great to be a millionaire? Just imagine what your life could be if you suddenly inherited a fortune from a long-lost uncle. It’s everyone’s dream!

But the reality is that most millionaires who inherit their cash tend to lose their fortunes rather quickly. As Thomas J. Stanley and William D. Danko discovered while doing research for their book “The Millionaire Next Door”, the people most likely to maintain a millionaire status are those who are frugal and save bit by bit every day.

One great example of a man with a fortune who practices frugal living, is the former president, Jimmy Carter.

Carter’s Surprisingly Cheap Lifestyle

Advertisement

While Carter previously enjoyed a luxurious life in his time at the White House, his current home is much more humble. Carter’s current residence is a simple, two-bedroom ranch in rural Plains, Georgia, assessed at just $167,000.

Along with his modest home, Carter also keeps his costs low in other areas of his life. He eats on paper plates, drinks bargain-brand wine, and even makes his own yogurt. He is also a regular customer at his local Dollar General store and often flies commercial when traveling by airplane.

While his living situation seems to suggest that his earnings are rather slim, nothing could be further from the truth. Carter receives an annual pension of $210,700, as all former presidents do, as well as an extra $230,000 total of allowances over the years for things such as travel and office space. Carter has also received recent income from books he has published, including some reflections on his years as president as well as a children’s book.

While other former presidents take deluxe summer vacations and purchase extravagant real estates, Carter has chosen to keep his life simple. As Carter himself puts it, “It just never had been my ambition to be rich.”

Budgeting Tips For Future Millionaires

Who wants to be a millionaire? While it may seem like a distant dream, anything is possible with a little time and dedication. Here are five simple tips that you can apply now to get on your way to grow your own fortune.

1. Record Your Expenses

The very first step to good budgeting is to become familiar with your expenses. Start by tracking all of your expenses for one month. Once you’ve collected all the numbers, sort them into categories such as gas, groceries, rent, clothes, etc. This will give you a good idea about how much your spending in each area of your life and where you may be able to make cuts.

Advertisement

2. Organize Your Personal Budget

Once you know how much you spend in a month you can tailor a budget to your personal needs. Give yourself a set number of dollars per month for each category, making sure of course that your expenses can easily measure up to your income.

3. Make A Savings Plan

Once you have your necessary costs calculated into your budget, create a savings category. A good rule of thumb is to save at least 10 percent of your income. If your current expenses don’t allow for this much, you may need to reevaluate and cut some more expenses. This is where differentiating between your needs and wants becomes crucial.

4. Choose Something To Save For

Advertisement

Find something you’d like to have in the future and keep it in mind. It can be short-term, such as a summer vacation trip, or long-term, such as a college fund for your kid. Sometimes the simple act of having something to save for can make all the difference.

5. Review Your Budget Regularly

Take time at least once a month to go over your expenses and check your progress. This is crucial if you really want to stick to your savings plan. The less often you go over your budget the easier it is to neglect your goals.

The More You Save, The More You’ll Celebrate!

Remember, when it comes to gaining a fortune, it’s the slow and steady who win the race! Practice these budgeting tips until it becomes a habit, and before you know it, you’ll be rolling in your own dough! Happy saving!

Emilyn Gil

Emilyn Gil

Emilyn is a student at Utah Valley University and working as a professional copywriter and researcher. She has won several awards for her writing, including the Scholastic Art and Writing Gold Key, and was featured in the Kolob Canyon Review in Cedar City. Aside from the written word, her other passions include learning new things, performing in musical theater, and playing piano, guitar, and ukulele. Some of her favorite pastimes are baking, napping, and hanging out with family. She has traveled to Ecuador, Argentina, Mexico, and Canada, and currently resides in Lindon, Utah with her husband Jorge.
Emilyn Gil

A Quick Note from Our Founder

Have you been curious about losing weight eating Bacon and Butter? You're not alone!

Going "Keto" has helped so many of my friends drop weight and keep it off.

And it's the perfect time to try it because right now you can get a free copy of a brand new cookbook called The Bacon and Butter Cookbook

This cookbook is jampacked with 148 delicious ketogenic recipes that will help you burn fat like crazy. Even stubborn belly and thigh fat won't stand a chance because your body will have NO CHOICE but to burn that fat for fuel!

If you've struggled to get rid of stubborn fat, you owe it to yourself to test-drive the keto diet and see how effective it really is. It’ll be easy once you have this free cookbook…

HURRY, this FREE offer won’t last long!

GET THE FREE COOKBOOK
sponsored advertisement
Advertisement