What Does It Take to Become a Millionaire? (Hint: It’s Not a Higher Salary)

become a millionaire

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If you haven’t been keeping up with the personal finance space lately, you may have missed all of the new “FIRE” and “retire a millionaire” posts. These articles are all about becoming financially independent, saving up enough money to retire early, and a lot have to do with having a million dollars. But what does it really take to become a millionaire? Well surprisingly, to become a millionaire, you really don’t need to make a lot of money.

What Does It Take to Become a Millionaire?

This post was written by our long-time staff writer, Kimberly Studdard.

So what’s the secret then? How are all these people becoming millionaires if they don’t have a 6-figure salary? Just like most common sense “secrets”, . . . → Read More: What Does It Take to Become a Millionaire? (Hint: It’s Not a Higher Salary)

How (and Why) to Climb the Corporate Ladder Instead of Retiring Extremely Early

climb the corporate ladder

Retiring extremely early — it’s all you hear about today…

“How so-and-so retired at age 30” “What it’s like to travel the world and earn $1M while doing it” “How to work for 7 years and retire for 70”

Man, talk about some great click-bait article titles! I should really use these for myself in the future… Anyway…back on track here. We’re all in awe of people that can retire extremely early. Their Airstream, their hipster look, and their memorable experiences — all without the need for a job?? Sign me up, right?

Not so fast.

Just because Johnny jumps off a cliff, does that mean you should do it too? What’s best for one person might actually make you miserable. Case in point: I’m 6’8″… Living in a tiny Airstream every day would suck. So before you start lusting after an extremely early retirement, you’ve really got to ask . . . → Read More: How (and Why) to Climb the Corporate Ladder Instead of Retiring Extremely Early

8 Things You Must Do When You Get Out of Debt

things you must do when you get out of debt

You are absolutely killing it. You’ve paid off the credit cards, the car loan, the medical bills, and now you’re getting ready to tackle the student loan debt head on. You’ve never felt better in your life and you can’t wait to be debt free! Only…what is it that you’re supposed to do when you get out of debt?

Should you…

Invest? Pay off the house? Relax and become more generous with your money? Keep killing it and become a millionaire as fast as possible?

What’s the right answer? What must you do when you get out of debt?

8 Things You Must Do When You Get Out of Debt

I was lucky. I had a bit of a windfall with a new job and a signing bonus. After moving back to Michigan, I simply stroked the $4,500 check to my parents (they graciously loaned me the money for my . . . → Read More: 8 Things You Must Do When You Get Out of Debt

Is An Emergency Fund or Sinking Funds Better For Your Finances?

emergency fund or sinking funds

Around this time of year, you might start seeing social media posts and articles from your favorite personal finance blogs that scream “Christmas isn’t an emergency, start saving now!”. While Christmas isn’t an emergency, and you should save for it, that begs the question..is it even worth it to have an emergency fund anymore? Or is the new wave of sinking funds a better choice? If you’re trying to choose between an emergency fund or sinking funds, this article is tailor made for you.

Is An Emergency Fund or Sinking Funds Better For Your Finances?

This has been written by our talented staff writer, Kimberly Studdard.

First of all, what’s the difference? And then which one is better for your situation? Let’s dig in!

An Emergency Fund

When choosing between an emergency fund or sinking funds, it’s important to know the differences between them. An emergency fund is just as . . . → Read More: Is An Emergency Fund or Sinking Funds Better For Your Finances?

Common Sense Stuff That Nobody Does – Back to Personal Finance 101

common sense stuff that nobody does

Don’t stick a fork in a power outlet. Don’t treat a construction site as your personal jungle gym. And don’t ever park your car on train tracks. This is pretty common sense stuff, right? If you want to stay alive, try to avoid doing stuff that’ll kill you. On the same token, if you want to have some money at some point in your life, avoid the stupid stuff that will eventually make you lose it.

Common Sense Stuff That Nobody Does – Back to Personal Finance 101

Credit cards, 0% interest, 0% down, options trading… personal finance has gotten pretty complicated, hasn’t it? Fifty years ago, common sense in finance was easy, because it was pretty much the only way to live!

Back then, you saved up money, paid cash for stuff, and brought it home. If you wanted to make an investment, you physically handed money to the . . . → Read More: Common Sense Stuff That Nobody Does – Back to Personal Finance 101

April 2018 Blog Income Report – How I Made $3,314.96!!

april 2018 blog income report

Tweet…tweet tweet tweet… The birds outside are announcing yet another beautiful day. You slowly peel open your eyes and begin to smirk because your amazing life from yesterday will continue yet again today. You have no credit card debt, no student loan debt, no car debt, and you know what? No house debt either. You’re totally debt free.

Beyond this, you now own a rental property free and clear, you earn a solid income at your day job, AND you earn over $3,000 a month with your side hustle!! In a year or less, you’ll be buying a 4 bedroom, 2 bath house on 15 acres in one of the most desired areas around (oh, and you’ll pay cash for it too!!).

This amazing situation described above…it’s actually my life, and it’s a good one.

Why You Might Want to Start a Blog (and How to Do It!)

Want to . . . → Read More: April 2018 Blog Income Report – How I Made $3,314.96!!

How Daniel Slayed $150,000 of Student Loan Debt in 5 Years

get rid of student loan debt

Since I’m pretty busy being a Dad, husband, financial analyst, self-proclaimed contractor (that recently failed miserably with crown molding…), and a writer for other prominent blogs, sometimes I just can’t keep up. Today is one of those days. Luckily, there are tons of others that are kicking tail when it comes to their finances as well! Daniel his one of those kick-butt stories. Check out his debt payoff account below!

How to Get Rid of Student Loan Debt (6-Figures Worth!) In 5 Years

In the winter of 2011, I learned that the love of my life had over six figures of student loan debt. She was starting her MBA holding a bachelor’s and a master’s degree in engineering and entering the professional workforce. Both degrees came at a price.

In the process of earning her degrees, she had racked up nearly $120,000 in student loan debt by the age of . . . → Read More: How Daniel Slayed $150,000 of Student Loan Debt in 5 Years

50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]

pay off debt faster

Laura Harris is a fascinating person with an even more fascinating story – debt free by 25, a stay-at-home mom on a super low income, and a self-made success in the freelance writing industry… When she came to me with the idea of writing this post, there was absolutely no way I was going to pass her up. Practical ways to pay off debt faster? Uhhhh, yes please. This is a topic that we’re all craving, and given the quality of the content below, I wouldn’t be at all shocked if this post is soon read by thousands (maybe even hundreds-of thousands) of people.

In 2012, my husband and I became debt-free. What we thought would take seven years only took two. We were shocked. It wasn’t because we made more than the average family. We learned if we wanted more freedom, we had to find as many ways as . . . → Read More: 50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]

What if You Save a Million Dollars For Retirement? Will It Be Enough?

save a million dollars for retirement - age 55

Save a million dollars for retirement…it’s everyone’s dream, right? Man, if you had a million bucks in your retirement accounts at retirement, think of what you could do!

You could:

Take exotic vacations every month Go out to eat without ever thinking about the bill Buy lavish presents for all your friends and be the most beloved old people on the planet!

Well…maybe you could and maybe you couldn’t. It basically all depends on your age…

What If You Save a Million Dollars for Retirement? Will It Be Enough?

What do I mean, “It depends on your age?” What does age have to do with it? A million bucks in a million bucks, right?

Wrong.

Because of constant economic growth and the establishment of monetary policy (don’t know what monetary policy is? Here’s a link. It’ll solve your sleeping troubles too… ;)), citizens all around the world experience a . . . → Read More: What if You Save a Million Dollars For Retirement? Will It Be Enough?

18 Ways to Save Money on Your Road Trip This Summer

save money on your road trip this summer

As summer approaches, many people are making travel plans and getting ready to head out to new destinations. If you’ve been thinking about a road trip, this summer is the perfect time to go! But what if you want to save money, and don’t want to spend a small fortune on gas, amenities, and repair costs? Here are 19 ways to save money on your road trip this summer.

18 Ways to Save Money on Your Road Trip This Summer

This post has been written by our talented staff writer, Kimberly Studdard.

1) Plan In Advance

First things first, always plan in advance. Where do you plan on going? What are some great stops on your route? How long do you plan on being on your trip? All of these questions should be answered before you even leave your driveway. While spontaneous road trips can be fun, they can also . . . → Read More: 18 Ways to Save Money on Your Road Trip This Summer