Be a Millionaire Day (May 20th) is one of our favorite holidays that is all about being smart with your money! This is a day not just dreaming but to be inspired to rethink your financial situation and make plans to further advance yourself into the millionaire’s club.
Tips For Adults:
- Go through your expenses
- Try to restructure your spending habits by cutting down on impulse buys
- Open a savings account/make a savings plan if you don’t have one
- Take time to study the market and begin investing
- Top up your 401K savings or your child’s college funds
- Make plans of paying debts ahead of time
- Start building an emergency fund of at least 2 months’ worth of expenses
- Helping your kids understand the value of saving money could result to a money wise adult. Sometimes the best way to learn is to actually do it!
Tips For Kids:
- Ask your parent to help you open a savings account
- Keep track of how you spend or save your money in a notebook
- Before you spend your money on something take an extra minute and think if you really want it
- When you go out with your parents pay attention to how much things cost