All millionaires have one thing in common... You know how to money to save.
You make a habit of paying yourself FIRST - automatically.
So what is the secret weapon for free?
Your friendly Bank of course!
Automatic transmission think… it's simple, effective and free! Easy to set up a monthly transfer your children money market account.
And money that you do not see..... .is money you not MISS.
Why do you think that the Government collects taxes directly from your paycheck?
But like get your children excited about money save if you Waaaaant it now?
Here's how I did it with my own 4 children...
1) I asked, "Who wants a millionaire some day?"
2) And stuffed my ears with the overwhelming "MEEEEEEEEEEE!"
3) I declared it would take a little work and patience... but I would help you.
You save 0 to 5 year olds - babies, infants - 100 %The first stage for your children is age from 0 to 5 years of age, infants, young children. This is the only stage where are 100% of all income save your child for baptize, birthdays, holidays, etc. for your child receives.
This is actually the time when most parents any savings program or savings bonds start.
I remember my husband this setting for our first two children, but somehow we forget three and four number!
It aims to save 100% of all income earned during these years, approximately $365 per year or $1.00 per day.
6 to 17 year olds - pre schoolers to teens - save 50 %
The next step for your children is age 6 to 17, pre-school to teens. This is when your kids to save their own money, either in a piggy bank or purse or wallet along with a savings account.
Be save 50% of money expected to earn purposes for investment. It is extremely important that you encourage to save on a daily basis.
Tell you, based on the age, that it is still your money, but it grows in more money.
As you get older, show you statements as your money grows.
Their children have to grow much time for your investments and to pay bills, so it not difficult for you, should save 50%.
It should be about $365 per year or $1 per day through age 12 years...
$650 for at the age of 13 and 14.
and $2,600 for ages 15 to 17.
Teens are lean, mean money-making machine! Espeically have no bills to pay!
Remember these numbers may be more or less for your children, depending on the situation.
But the important thing to remember is, 50% of all money save deserves to make a habit.
18 to 21 - college days - save 10%
Your kids will hopefully in College at the age of 18 to 21. We expect a savings of 10% during these years, although money is tight.
After he is in the habit of saving 50% for many years, seem 10% like a breeze!
The important lesson we want to emphasize is that even though money is scarce, which still pay yourself first by still save 10% expected.
This amount should be approximately $780 per year. You should be easy to earn an annual income of $7,800 during summer and one or two nights a week and still a student succeed to work.
22 to 28 - single, work - save 15 %
Now we get the single working age from 22 to 28. We expect a more habit of saving of 15%.
Now, our children graduate college and have a job in his career of choice it should easily save 15%.
This amount should be between $5,600 and $6600 per year on the basis of conservative annual salaries. Now child has our adults nearly $ 300,000 in your investment account. Not bad!
29 to 30 - married, no kids - save 15 %
Now our young adults, age 29-30, but no children is married. You will find here we still 15% savings, very easy, especially with double income and shared expenses should be.
This amount should be between $6600 and $8000 per year.
Married, with children - save 10% on 31
Our last stop is age 31 and where child is our adults bigger, married to his own children. This is if he continued at which time he can retire rich save 10% of income until age 65, and happy.
These amounts are from $5,000 $8000 according to annual salary.
The most important habit to your children, and finally adult children in saves a specified percentage of all income.
Even on an average salary you automatically become millionaires.
They are passed on these habits to your children and grandchildren and responsible with your money.
Most Americans begin at the age of 23 years at a rate of 4% invest.
My husband and I started this age 23, at a rate of 10%.
Our children are much better to do! How to sell if you help and guide you.
Here DOUBLE is how you your interest rate with a money market savings account if your children into the habit can help you to save and invest their money to get, you will be guaranteed millionaires.
And you are are not always in a dead end job you hate because you need the money.
Rich people ask and expect all save you can imagine, including college tuition.
Paying for college tuition is the second largest cost after purchasing your home. But you have to pay education not top dollar for a top.
Neither should you.
The SINGLE best way to want to know to save money on college tuition?
You need to you can think a millionaire - yet, to save money on just about anything... including food... especially with coupons to save as much as a whopping 80%!
as well as the furniture, real estate, cars greater resources, education, travel, and even your son or daughter wedding!
Here's a helpful guide from planning a budget wedding looks how you've spent $1 million!
Now that I have given you some ideas how to save money for you and your children... Check back often, as I come with new and improved ways to save money like a millionaire...without spending a million!
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