Become rich and independent financially by earning the smic minimum wage


long way rich smic

Getting rich by earning the SMIC (minimum wage growth) is possible nowadays, but no matter how.

This article is a response to a frequently asked question.

Because I am often told it is easy to save and get rich with a salary of framework, but with a minimum wage?

Good question, even more than a french on 2 wins less than 1 772 euros per month (2013) and averaged 2 202 euros net of taxes at the source. In the private sector, an employee on eight wins the Smic. But this proportion is very uneven depending on the sector. They are up to 38% in the branch "hospitality, catering and tourism", or even 61% for single fast food (see here).

It is therefore a common case I want to present with solutions.

Let's start with what we know already, in fact, although it is true that it is almost impossible to save with a minimum wage for Paris for example, it is not yet impossible to live properly with the latter. Please note I do not say that it is easy, and I speak knowingly. It's just possible

Let's take an example, case number 1:

  • salary: paid at the SMIC rate: 1200 euros net monthly (I anticipates at 1-30 June 2016, an employee paid the minimum monthly wage for a time full-time (35H) affects less than 1.150 euros net per month (approximately 1.135 euros), bringing the gross annual SMIC to 17,600 euros.) The hourly wage of the SMIC is 9.67 euros. Since January, 2016, the gross minimum wage is 1.466,62 euros per month for a full-time job (151,67 hours per month).
  • Family support allowance: € 0
  • Housing assistance: €0

Total revenue: 1200 Euros (well go there are tickets restaurant)

Monthly expenses

Its fixed charges

  • Rent for 1 apartment: 600 Euros (electricity and heating included)
  • Vehicle (credit, insurance): 250 + 50 euro
  • Internet subscription, telephone, TV(avec Canat+/Sat): 60Euros

Its variable costs

  • Races: 250 euros
  • Fuel, maintenance vhl: 150 euros
  • Restaurant (Fast food, pizza): 60 euros

There are two things:

  1. It is not or may margin, the least a failure the car and c is panic. We note also that the apartment / car / race taking almost the entire budget.
  2. That the budget is not balanced and that the variable expenses, one that e can be adjust represents almost nothing of the budget so, in his case, become even more frugal and spend less is nothing.  At best this person will be in the rat race. At worst overindebted.

The only possibilities to act on spending are: having a roommate, live with parents, increase revenues, no longer need the car, moving to cheaper (attentions to moving expenses)

We are then left with a budget similar to that of mike, studying our case number 2

Its fixed charges

  • Rent for 1 apartment parents: 250 Euros (electricity and heating included)
  • Vehicle (insurance): 50 Euros
  • Internet subscription, telephone, TV(avec Canat+/Sat): 60Euros

Its variable costs

  • Races: 250 euros
  • Fuel, maintenance vhl: 150 euros
  • Restaurant (Fast food, pizza): 60 euros

The budget is much healthier and mike can begin a accumulate money. It has every interest develop a a mattress (3 months salary in advance and available), invest quickly and strongly as long as he can.

Brief all this to say that it is difficult, be frank.

Look at the important steps that will determine your financial life (excluding investments)

The major phases of your life that truly have great influence:


  1. Slam her pay and put nothing to rate when l is among parents
  2. the purchase of the car is very important in financial terms
  3. the purchase of furniture
  4. the price of the rent
  5. children and marriage

Them alone these positions constitute more than 60% of your expenses…

And you have your salary to offset all of that only.

In this case how to become independent financially?

Invest your money in things that money as time goes you'll earn more and more, until only your income from investments or superiors to your expenses and it is good.

How much does take to be free with the minimum wage?

Take this amount as its baseline and try to calculate the amount needed to produce 1200 euros per month, or 14400 euros for the year. If one accepts that investments of 5% net of taxes with a medium risk level exist (I would show it you), it takes approximately EUR 288000 to be independent financially if we consider that the minimum wage is sufficient to live. Of course it is more or less according to the performance of your investments and taxation.

Now that we know how much we need, how to get this money?

It has only two possibilities:

  1. Either by winning more
  2. either by spending less
  3. Joker (lottery, inheritance)

Knowing that we are at the minimum wage, and that our variable expenses are already reduced, will have to find more money.

Pass a certain stage of frugality, it is easier to earn more and spend less. In this case we focus on revenues.

Ben Yes simply it is always a factor on which it is easier to act between earn more and spend less. So much to enjoy.

I advise you to create something that money or to do additional work in order to create the starting capital to invest. Attention however a business takes several years to take off.

To create complementary and passive income

For this I already have a selection: earn more money

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