Savings Tips from an American who has put off $ 30 million by 1 years

A few years after graduating from college, Grant Sabatier was unemployed, had almost no money, and lived with his parents. One day, after checking the balance of his bank account, a guy who at that time was slightly over 20 years found only $ 2,26 on it.

This served as a wake-up call and impetus for Sabatier to set a goal of saving enough money to retire early if he wanted. The publication spoke about how he implemented his decision The Washington Post.

According to him, the lack of money gave him a feeling of “lack of control” over his life, which he really did not like. He admitted that he never wanted to feel that way again. So he started saving money. Now he is 32 years old, has a million dollars in his account, and runs his own blog Millennial moneyin which tells about your financial habits and mistakes.

To begin with, Sabatier found a job at a marketing agency, took on additional types of income and saved half of his salary. He read more than 300 books on personal finance and achieved his goal of saving $1 million by age 30.

Currently blog Sabatier Millennial money ranked among the best personal finance blogs.

In just 5 years, Grant Sabatier was able to save $1 million. But that doesn't mean he saved nearly $200 annually. Saving is only part of how Sabatier became a millionaire at such a young age. Much of the success came from his many ventures.

Basic tips for saving money:

• Find additional earnings. Best of all, if it is your own business or even a few.
• Make saving money a daily habit. Sabatier started small - he saved $5 a day, but then additional ways of earning money began to generate income, and he saved every free dollar he earned, sometimes it was several thousand a day.
• Invest your extra money. Sabatier says he was able to achieve his goal only because he invested most of his long-term savings in stocks and bonds, which gave him a much higher return than he could get through a savings account.
• Continue to increase your savings. Pоскольку он зарабатывал все больше денег на дополнительных проектах и сокращал свои расходы на проживание, Сабатье постепенно перешел от экономии 15% своей зарплаты до 25%, а в конечном итоге он откладывал более 40% зарплаты.
• Reduce your monthly expenses.
• Remember your goals and follow them. Having reached the million mark in his bank account, Sabatier relaxed and allowed himself expensive wine, vacations and other expenses that he had previously avoided. As a result, in a year he spent $200 thousand - 2 times more than the year before. After analyzing the situation, he realized what expenses led to this, and decided to continue to monitor his spending, because he did not want to violate his sense of financial independence, which gives him a million in his account.

An important tip is to take a chance while you are young and start a business. Control your expenses and save as much money as possible. This will bring you wealth in a few years.

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