9 practical tips from millionaires that you can use too

Few individuals become millionaires, and many work hard to do so. Statistics show that more than half of millionaires got their wealth independently (that is, they did not inherit it). In the article, you can read 9 practical tips from millionaires that you can also use.

Read which ones 9 tips from millionaires you can use it too.

The 50/30/20 rule

This rule is about money management. Allocate 50 % of income to necessary monthly expenses, 30 % for personal needs (hobbies, shopping for clothes), and save 20 %.

Shop on sale

Sales are no longer rare. Quite the opposite: they appear frequently and at similar times. Everything that is not necessary should be bought at sales (even if it is last year's models).

Don't use a credit card

A credit card gives you the false feeling that you can buy goods that you don't even have money for. In reality, sooner or later you will have to settle the bill, and on top of that you will have to pay interest.

Buy directly from the manufacturers

If possible, move to the beginning of the consumer system and buy goods directly from producers. Prices are much lower there, and you can also help local producers in this way.

Saving is somewhat similar to earning

The less money you spend, the more money you will have. Shop wisely and sparingly.

Live more modestly than your finances allow

A big problem with most people is that they spend as much money as they earn. As soon as they get a raise, they also raise their lifestyle. If you live more modestly than you could, you will have less financial worries.

Invest a certain amount of money

Invest some money in real estate, shares or funds. Be careful that this is as much money as you can miss.

Educate yourself

It is possible to learn financial management - on the Internet, various courses, from books... Do not remain passive, but take at least some control into your own hands.

Money isn't everything

Money allows us a certain quality of life, but it does not bring true happiness. Money can buy a house, but not a home. We can spend it, take our fiancee on a trip, but we can't buy genuine love with it. And some things are more important than money.