Income ≠ Wealth
How to live like an undercover millionaire:
- Spend less than you earn
- Avoid buying fancy clothes
- Avoid buying new & fancy cars
To feel rich, count the things in your life that money can't buy.
How to Build Wealth
10-Step Formula to Riches
// Thread //
Income ≠ Wealth
How to live like an undercover millionaire:
- Spend less than you earn
- Avoid buying fancy clothes
- Avoid buying new & fancy cars
To feel rich, count the things in your life that money can't buy.
To build a strong financial future, break down your goals into 3 categories:
- Short term goals (1 to 5 years)
- Mid term goals (5 to 10 years)
- Long term goals (10+ years)
Understand your goals and build a plan of action.
Make your goals a reality.
Assign a purpose to every dollar.
How the wealthy budget:
- 529 plans
- Business accounts
- Retirement accounts
- Emergency savings fund
- Joint / Individual accounts
Want to budget stress free?
Automate the process.
You might catch the famous Warren Buffet mentioning this phrase during his investment talks.
This means:
- You save/invest
- You pay your bills
- You spend the money that’s leftover
Save and invest first, before you spend money.
It's that easy.
Envision how you want your future life to look.
Ask yourself:
- Where will you live?
- Which car will you drive?
- When will you retire (if ever)?
Today is the best day to start building your tomorrow.
Adopt mind tricks to decrease or stop overspending.
Some tricks I use:
- Eat before grocery shopping
- Pay with cash, cut up the cards
- Visualize my wealthier future self
- Track (and review) daily spending
Your mentality is your reality.
The first step to building riches is to stay out of "bad" debt.
Bad debt is high-interest debt.
Examples of bad debt:
- Store credit
- Payday loan
- Credit cards
- Cash advance loans
- Other consumer loans
With bad debt, you rob your future self.
The key to building riches is this:
Spend less than you earn.
Tips to spend less:
- Meal prep
- Cut the cord
- Cancel subscriptions
Tips to earn more:
- Start a side hustle
- Request a promotion
- Negotitate a higher salary
Maintain a balanced lifestyle.
Use social peer pressure to your advantage.
An accountability partner can be:
- Your friend
- Your spouse
- Your partner
- Your mentor
- Your professor
Your partner will hold you accountable for your spending and saving goals.
Want to level up and improve your financial life?
Then check out The Millennial Money Woman blog today.
With The MMW blog, you will find:
- How to grow wealth
- The latest financial tips
- How to maintain wealth
Click the link below
https://t.co/I6D35yaI7D
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THREAD PART 1.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
