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Saving tips
Become a Millionaire with minimum effort
With these 5 Money Multiplying tips from The Automatic Millionaire
// THREAD
With these 5 Money Multiplying tips from The Automatic Millionaire
// THREAD
1. Save 1 hour of your pay per day
We all have savings goals
But life often gets in the way, and saving over a long period of time can be hard
The solution is simple: just save one hour's pay per day!
This usually works out to be about 12.5% of your paycheck
Build from there
We all have savings goals
But life often gets in the way, and saving over a long period of time can be hard
The solution is simple: just save one hour's pay per day!
This usually works out to be about 12.5% of your paycheck
Build from there
2. Have a 'Pay yourself first' plan
"When that money is moved before you can touch it, that's how real wealth is built."
Saving doesnโt need to be hard
Set up automatic transfers from the account that receives your paycheck to your investment acc.'s
"When that money is moved before you can touch it, that's how real wealth is built."
Saving doesnโt need to be hard
Set up automatic transfers from the account that receives your paycheck to your investment acc.'s
This will stop you spending that money before you get a chance to invest it
This is how we manage our monthly income & outgoings to pay ourselves first:
This is how we manage our monthly income & outgoings to pay ourselves first:
3. Automate & consolidate your bills
Contact your billers, move your billing date shortly after your regular pay day
By doing this, you won't need to draw from our savings, and you'll always operate with a clear sense of the amount of money you actually have
Contact your billers, move your billing date shortly after your regular pay day
By doing this, you won't need to draw from our savings, and you'll always operate with a clear sense of the amount of money you actually have
4. Remember what you value
We all have guilty pleasures: Starbucks, subscription services, etc
By taking a long, hard look at how we spend our money on a daily basis and reducing our guilty pleasures we can substantially improve our financial position
Cont.
We all have guilty pleasures: Starbucks, subscription services, etc
By taking a long, hard look at how we spend our money on a daily basis and reducing our guilty pleasures we can substantially improve our financial position
Cont.
โItโs not about giving up coffees, or giving something up that you really enjoy
but about looking at where your money is going and realizing you can still buy the things that are important to you and still actually have enough to save.โ
but about looking at where your money is going and realizing you can still buy the things that are important to you and still actually have enough to save.โ
5. Start Small
โYou donโt go from not running to running a marathon. You work your way up. Saving is very similarโ
The key is to create a habit and start early, even if you can only commit a small amount at the start
There are great apps out there that can help
โYou donโt go from not running to running a marathon. You work your way up. Saving is very similarโ
The key is to create a habit and start early, even if you can only commit a small amount at the start
There are great apps out there that can help
You probably read these thinking 'this won't make me a millionaire'
And you're right, they won't if you have that attitude
If you start making smart financial decision like those above
More will follow
Apply them consistently
And you will become a millionaire
And you're right, they won't if you have that attitude
If you start making smart financial decision like those above
More will follow
Apply them consistently
And you will become a millionaire
If you found this helpful, please:
1. Retweet the 1st tweet below to share this thread
2. Follow me @FiSavvy for more
I'll show you how to manage and invest your money so your 9-5 becomes optional
1. Retweet the 1st tweet below to share this thread
2. Follow me @FiSavvy for more
I'll show you how to manage and invest your money so your 9-5 becomes optional
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