More than 50% of US household can’t handle an unexpected $500 to $1000 expense without going into debt. Most families are living on the edge of financial stability where a car accident, appliance failure or emergency room visit would force them to borrow money and repay debt. That is a scary statistic for a country as rich as the United States.
It’s easy to understand why so many struggle with money. I’ve been there myself. School children are taught all the basic math they need to succeed but very few ever get a financial education to explain how money works and how to get ahead.
I started Math of the Rich when I realized that the main difference between people who struggle with money, and those who succeed is just a little bit of knowledge. I chose math as the framework for sharing knowledge because it is provable. It’s not an opinion. I try to show any assumptions and give you the opportunity to change the inputs to match your situation.
The mission of Math of the Rich is to educate people about how to take control of their financial lives. I want every US household that doesn’t have a $1,000 emergency fund to take the $20 Challenge and build one in less than a year. I want to build a community where people grow through the Stages of Wealth and escape the paycheck-to-paycheck trap.