Ways to become a millionaire
1. Pay yourself first. Put money into your retirement account. If you don't have one, get one. You will be thankful for this account when you retire. You can set this account up with your bank. Pay a certain amount to this account every paycheck. Don't get a paycheck without putting money into this account.
2. Buy a house. You don't want to pay rent the rest of your life do you? When you buy your home, pay your mortgage every 2 weeks instead of every month. This is called bi-weekly mortgage. You'll be making a extra payment every year that you won't even notice. You can call your bank and tell them you want to set up this plan and they will have it set up in like 10 minutes. You may be able to pay your house off in 5-10 years instead of 30 years.
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My Mortgage Docs to be Reviewed by an ExpertMost mortgage plans offer you to pay $1000 a month. With the bi-weekly mortgage plan, you'll be paying 13 payments a year instead of 12 payments.
3. Give up some things. Stop buying so much fast food. Don't spend money on things you want, spend money on things you need.
4. If you are in debt with credit cards, GET RID OF THEM! Then raise payments on your credit card bills 50%. You'll pay it off quicker this way.
5. Right down or make a spreadsheet of where all your money goes.
Bi-Weekly Plan
You will pay $13,000 a year for a house with this plan.
2 years = $26,000
3 years = $39,000
4 years = $52,000
5 years = $65,000
6 years = $78,000
7 years = $91,000
8 years = $104,000
9 years = $117,000
10 years = $130,000