Becoming a millionaire is not just some unrealistic dream. The statistics show that more than half of millionaires are self-made. The lessons that we can gain from them can’t guarantee us a millionaire status, but it’s totally worth listening to.
smartzune.com has put together some of the smartest sayings about earning, saving, and investing money to help you to get a little bit closer to your dream of getting super rich.
9. The 50/30/20 rule
This is a rule that can be used for managing a budget. It supposed to divide your income into 3 categories:
- The first category is living essentials. 50% should be allocated for monthly expenses such as rent, transportation, utilities, groceries, etc.
- The second category is personal spending. It means you can use 30% of your income for entertainment, shopping, hobbies, and anything that makes you happy.
- The last category is savings. 20% of your money should go straight to the bank. You can follow the advice of Grant Cardone, a self-made millionaire.
“Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access.”