Money Tips that Millionaires Live By

Lexington Law states that about 50% of Americans live paycheck to paycheck. If you're there and would like not to be, here are some tips that millionaires live by.

Live below your means! First and foremost, rule numero uno. EVERY single millionaire swears by it.

Always (always always!) have an emergency fund. No matter your socioeconomic status, it’s important to do whatever you possibly can to have a “rainy day” fund that’s untouchable…except for rainy days.

Before you splurge on a big purchase, sleep on it.  Give yourself 24 hours before making a purchase. It’s all about being smarter with your money, so eliminating any silly spends is key.

Get up early, and get to planning. Not directly correlated to money, but most millionaires are up and at ’em before the sunrise, doing things to better themselves holistically.

Know your expenses like the back of your hand and cut out anything unnecessary. Time to get serious – if it isn't a necessity, let it go. Make sure your disciplined when it comes to finances.

BUDGET BUDGET BUDGET.  Try out 50/30/20 rule. That is, allocating 50% of your income on living essentials, 30% can go towards “personal spending." The last 20% to saving

Find more money tips that millionaires live by in the linked post.

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