We always heard that a penny saved is a penny earned but the secret to riches and financial success is much more than just saving a penny here and there. The best ever article I wrote on the subject is still among my top 10 most read posts every day, how to be rich? By creating value. That’s the easiest formula toward riches. We need to create value and thereby we increase our income. If we want to maintain a good lifestyle without hurting the savings and at the same time having piece of mind.

Let us imagine that you skip your beloved latte in the morning. How much do you really save in a month? Depending on how much you drink and the brand you purchase, you may save between 30$ and 60$ every month. That is a nice amount of money but not really enough to improve your lifestyle or make your retirement more comfortable. Actually skipping the latte can make you sad and decrease your morale, if that is your way in to morning energy, which may eventually hurt your job or business and thereby your income.

During the Christmas week we visited Savannah, GA for a short tour. We dined one night at Paula Deen’s restaurant “The Lady and Sons”. Thanks to SMB I am now familiar with her rags-to-riches story. She was left with few hundred dollars to feed two young children. She is now nations one of the top chefs earning in millions.

What she did to become such a rich individual? She did what she loved to do, she excelled in it and she did market her skills well.