How Much Money You Need To Save Everyday To Become A Millionaire? Study This Chart

3 There is never a “Too Late” to start saving

If you want to become wealthy, then you need to start investing your money as early as possible. Says Bach “Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan," writes financial adviser David Bach in his book " Smart Couples Finish Rich ."

Bach also says that it doesn’t take money to make money; it takes the right decisions. This is why he created the chart shown earlier where you can have one million dollars by the time you reach 65. However, it’s possible that you might find the process of investing a bit complex, but don’t give up because financial planning rakes abit of time but that is time which you are spending doing something productive in securing your future.

The authors of “Millionaires next door” William Danko and Robert Stanley in their book say that those who accumulate wealth spend a lot of time planning how to invest in comparison to those who aren’t wealthy. Earning a six figure salary is not necessary for becoming rich. This was proved by a survey of 854 middle income workers where Danko and Stanley found there was a positive relation between accumulating wealth and investment planning. This means you need to save and that is the road to riches, not earning a fat salary because it may tempt you to spend more so you are no better off. 

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4 How to get $1000 saved by the end of the year

If this has now made you sit up and take notice and you are thinking right now Hell!! Why am I not saving? Here is another chart that shows you how to save $1000 in one year. It is based on the amount you need to save every day for 12 months. By the end of the year you will have a thousand dollars.

Why this chart?? Recent studies found that 1 in 3 Americans would never even have $2000 for emergencies. It also showed that the majority may not also have $100 to pay a hospital bill without having to borrow the sum. The bottom line about this chart is simple. Don’t waste your money!! This chart is suitable for any income level so regardless of how much you earn, this will help you save a thousand dollars by the end of the year. Just print it out and stick it on your refrigerator. Store the amount that you find on the chart, keep it in a safe place and by the end of the year, you have a $1000 dollars.

You need to choose a particular day of the week whenever you get paid. On that day choose the dollar amount that is affordable for you. Cross it off from the square corresponding on the chart. To get a better idea follow the instructions that explains the chart.

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