I’m fascinated about becoming a millionaire and I want to share with you a simple strategy on how to become a millionaire. Below is a list of what you’ll need to save each month at each age milestone. The illustration really drives home the point of compound interest. If you want to become a millionaire it’s time to start saving today! The assumption is a simple 10% rate of return, which is roughly the historical average of the S&P 500. So lets assume you start saving money every single month at the age below you’ll be a millionaire at the age
Ok, if you’re looking for real financial flexibility it’s time to start living on one income. Living on one income allows you to to put money towards whatever you want! Emily and I have been lucky to have a vision from the very beginning of our marriage on how we want our life to be over the next 30 years. This focus has helped us really pinpoint our finances on the items that need to be accomplished in order to make our vision a reality. Our major financial goal is to have ZERO debt, no debt by the time we
Watch out for the gimmick 0% Credit Card offers! Yes, everyone loves the 0% credit card. I do as well but I do my best to avoid them all together. I’m on a quest to be 100% debt free and these gimmicks can be tempting. Listed below are three highlights that I learned the hard way when I got my first 0% credit card. You must pay off the balance before the zero percent offer ends. This was something I didn’t understand when I bought my wife’s wedding ring. I made every payment on time including a little extra for 12 months.
Want a tip on growing your Net Worth? I’m obsessed with monitoring my net worth. That is I’ve been tracking it monthly for the last three years. I believe the constant attention has helped in it increasing over the years. Its just like anything else in life, if you give it attention you’ll see improvement. Because as I made purchases throughout the month I always had a voice in the back of my head saying, how will this affect my net worth when I punch it in at the beginning of the month. If you have ever tracked your calories it
Yay, Christmas time is finally here! I don’t know about you guys but I start listening to Christmas music around the end of September. It is one of my favorite seasons! But I know others, and myself included get a little stressed this time of year do to the money that will inevitably be spent on presents. There are a few thing we do to help alleviate that stress of money during this holiday season. Set your Max spending before you begin Determine your max budget! Before Emily and I start buying presents for one another and others we discuss
Ok, I didn’t realize how important a budget was until I started tracking every penny I spent a year and a half ago. I want to share my favorite budgeting app as well as compile a list so you can find the right budgeting tool for you. I don’t care what type of tool you use, I just want you to pick one you will commit to! There are a lot of budgeting apps and websites to choose from. I have only used three Mint.com, Quicken, and EveryDollar. My favorite by far is EveryDollar by Dave Ramsey. I found this