The word coming from the boys in Washington is that they want to raise the national minimum wage to $7.25. Well, that's fine and dandy, but it won't mean jack if people don't know how to handle the extra cash. The key to wealth building is something that Dave Ramsey has been preaching about from day one. It ain't so much about the current minimum wage ... it ain't about what you're bringing in as it is how you spend it.

Making a personal budget and knowing how to spend your dough is what gets you ahead in life and money. It's just a matter of telling your moolah what to do-la. I've seen joes and jills who make 30,000 bucks a year and have paid-for cars, money in the bank and funding for retirement and college. On the flip side, I've seen people knocking down $200K a year and couldn't budget their way out of a paper bag; and it shows, baby. Be smart, create a budget and you'll win big-time ... at the minimum.