My grandfather bought his house for $6,500. He had no retirement after 20+ years of working for the same employer. They gave him $100 each month in lieu of a retirement check. He saved more than $200,000 over the course of his life. My grandfather clearly had respect for money. Our culture today has lost sight of this respect.

Todays generation fears not that they wont have something, but that they wont have everything. Twenty-five percent to 50 percent of purchases are unplanned. Whats the big deal? The average American will retire with only $57,000 to live on.

Debt
Personal debt has increased by 123 percent. Do you know how long it takes to pay off your credit card if you pay only the minimal amount? 20 to 30 years!

Taxes
Most Americans severely overpay their taxes.

Care for a challenge?
Heres my personal challenge : Track your expenses for one month. Set your expenses up in categories. Write down every penny you spend. If you dont want to track your business expenses, do at least your personal expenses (date, what you spent, what you spent it on). This will help you get a really good grasp on how much youre spending.

I spoke with someone recently who has been selling stock to finance his lifestyle. Thats upside down. If youre selling stuff to support your lifestyle, youre upside down financially. Live on less than you make, save and invest with the difference. If youre doing anything else, youre upside down financially.