How Much To Save A Month To Be A Millionaire?

The answer is to save as much as you can!

You might think that this is a rubbish answer, but i think this is very true.

If you only think about it, and do nothing about it, nothing happens.

Take small steps to move towards your goal of a million dollars. Start by saving at least 20% of your take home pay (net pay) and you will be able to see your savings grow month by month.

The main idea is to pay yourself first with the 20%. In order to see money in your bank, this is the ultimate first step to take. Do not make the mistake of saving only whats left at the month end, because normally you will be left with nothing at the end of the month.

I made this mistake of saving whatever is left after deducting all the expenses in the past, I was able to save some money but soon it became stagnant as there is no fixed amount I save each month. Sometimes more sometimes less.

After applying the “pay yourself first” technique, I was able to see significant improvements in the numbers :)

20% is just a guideline, and you should strive to spend less than you earn and save as much as you can. Before buying anything, ask yourself if this is a need or want.

I came out this guideline for myself today:

If I consider this item to be expensive, this means that I don’t really need it.

I realise that if I really need to buy an item, no matter how expensive it is, the cost is usually not my deciding factor but the brand or the model is. This shows that I really need it.

After saving an amount of 6 months to 12 months of emergency cash, you can start to invest the rest in the various investment tools that you are most comfortable with.

I realise that investments is very important in personal finance to grow wealth but use this tool with care.

Every one wants to become a millionaire but not many is discipline enough to do what it takes to achieve it.

The Teen Millionaires in the video are:

1) Cameron Johnson – You Call the Shots: Succeed Your Way– and Live the Life You Want– with the 19 Essential Secrets of Entrepreneurship

2) Ashley Qualls – WhateverLife.com

Its is always inspiring to know people at such a young age who is able to make great money.

What is the difference between them and me?

I can say that it is the “Mindset”!

Start feeding your brain with positive brain food by reading books.

Adam Khoo has just released his 2nd edition of Secrets Self-Made Millionaires ebook.

I got the physical book of the 1st edition of the at a local bookstore and was loving it.

 The contents of the 2nd edition was revised to meet the economic conditions of 2009 and beyond.

The book guides you on how to manage your money and controlling your expenses, how to increase your income, how to create multiple streams of income by getting an internet business etc.

The 7 main components of the book 

1. Seven Steps To Financial Abundance
2. Cash Flow Strategies Of The Rich
3. How To Massively Increase Your Income
4. Creating Multiple Streams Of Income Online
5. Managing Money And Controlling Expenses
6. Building Your Million Dollar Net Worth
7. Designing Your Millionaire Master Plan

I think number 5. Managing Money And Controlling Expenses is rather important to take action on it right now.

At only $19.95, I would say it is worth the price.

Get yourself a copy of Secrets Self-Made Millionaires now!

Incoming Search:

• how adam khoo manage his business

Farrah Gray is a Self-Made Millionaire at a young age of 14. He is from a single parent family and who wanted more for his family.

According to him to be successful, you must

1) Never Fear Rejection and

2) Seize Every Opportunity.

In the video, he said that

Comfort is at the end of achievement and in order to be successful, you must find things within your life that you are uncomfortable about that you want to change.

I truely believe in that. I feel that most people fail because of fear and the reluctance to change.

So don’t stay in your comfort zone for too long!

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