You may think being broke today and not able to afford your needs hurts but hey it’s more frustrating when you are aged and have nothing to show for it aside your date of birth.
It is important to note that whatever you do today is a path to whatever you are preparing to face in future
So right from your youthful age, you need to start thinking like a future millionaire and start adopting strategies that can help you fulfill that.
1. Start saving early
This is the first step to take when it comes to creating a great future ahead. Do not wait until you are ageing before trying to save, in fact the very moment you start earning something, begin saving immediately.
2. Avoid Unnecessary Spending and running into Debts
To create welth ahead for yoursel, it is very important to check the level at which you send your income. In fact many out there even spend to the extent they have to lens money. Just note that the very moment you begin to incure debts, it means your financial plans re going to be disrupted hence the need to spend wisely and avoid debt.
3. Save 15% or more of Your Income
While you earn income, you have to understand the need to save a certain percentage of that income. Do everything possible to save not less than 15% of your income. This allows you to save enough money as Capital to Begin your entrepreneurship which can eventually land you a status as the next billionaire in the making.
4. Avoid Lifestyle inflation at all cost
Lifestyle Inflation is where many are caught off guard when it comes to Saving towards the future. Here, many feels the moment they are making enough income, they need to upgrade their way of living to a more luxurious lifestyle.
This lifestyles are very expensesive and can disrupt your future plans of becoming the next richest man on earth.
