January 3, 2014

Jim Cramer's dad inspired him to save money

Jim Cramer has some inspirational words for us all. He says, "I never quit saving, How poor was I, yet I still put away money. On the advice of my father I opened an account at Fidelity with the Magellan fund and would contribute a little every week."

The Mad Money host hit rock bottom early in his career - at the time he was working as a journalist and making next to nothing. After a thief broke into his modest California apartment and stole absolutely everything, Cramer had nothing left and nowhere to go. Cramer was living out of his car.

"I was living hand to mouth, and people would take me in now and then so I could get a shower, change, get a good night's sleep," he explained. At that time in his life, it was a struggle for Cramer just to stay afloat; just to stay healthy. Yet all the while – he continued to put away a little money.