Thought-provoking infographic from Visual Capitalist. I like the question because the knee jerk reaction to the question would be “of course not.” The infographic lists 10 ways to be able to build wealth while earning a low wage. Frankly these tips work for people at all income strata which is why I am including it here. Some questions for your students:

• What cost item is most important in influencing your ability to create wealth?
• Would you consider the area you live to be a cheap city or a non-cheap city? What might be a downside to living in a cheap city?
• Which of the ten tips resonates most with you? Which of the tips would be most difficult for you to implement? Why?
• The chart at the bottom assumes that you can live with expenses of just over $10,000 for the next ten years? Do you think this is realistic? Why or why not?
• Were you surprised by any of the information included in this chart? Which statistics?

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.