"Paying yourself first" - look it up!

• The best way to avoid saving is to only save what is left at the end of the month. This way, you have a great chance of spending all of your income, leaving absolutely nothing left to save towards yourself. (01:13)
• If you are really committed to not being a millionaire, then you would take it a step even further and spend even more than you make every month, accumulating credit card debt and severely hampering your overall wealth ability. (01:26)
• Saving $500 a month for 30 years at 10% comes out to over $1.1 million. Someone who saves just $300 a month because they are spending first and saving last, would come out at over $450,000 less over those same 30 years and 10% rate. (01:50)

Quote for the episode: "Saving part of your income is one of the main drivers in building wealth." (01:02)

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Welcome to the Enjoy More 30s Family Finance

podcast. The only podcast dedicated to making life more

enjoyable for young families by hitting on the financial topics

that tend to weigh on us, stress us out, and distract our focus

from simply enjoying life.

Hello and welcome once again to the Enjoy More 30s

Family Finance podcast. For all those people out there trying to

avoid being financially secure, we have our series for you 10

Ways To NOT Be a Millionaire. Now if you actually do want to

be a millionaire not to worry, this series isn't just for those

people who are looking for some form of financial ruin. If you

avoid doing these 10 things then you could be well on your way to

millionaire-hood as well. Each week I'll share a quick step in

this how to not be a millionaire process so you know what to do

or hopefully what to avoid. As always, before I begin, please

share and like, please leave reviews. I'd love to reach and

help as many young families out there just like you.

Today's great tip on how to not be a millionaire is Budgeting

Backwards. Saving part of your income is one of the main

drivers in building wealth. So if you want to avoid being a

millionaire, it therefore must be something you want to avoid

as well. The best way to avoid saving is to only save what is

left at the end of the month. This way, you have a great

chance of spending all of your income, leaving absolutely

nothing left to save towards yourself. If you are really

committed to not being a millionaire, then you would take

it a step even further and spend even more than you make every

month, accumulating credit card debt and severely hampering your

overall wealth ability. For those who are actually trying to

build wealth then you should make saving a priority. If you

first budgeted amount to save towards yourself before you

spend, then you are exceedingly more likely to save. Saving $500

a month for 30 years at 10% comes out to over $1.1 million.

Someone who saves just $300 a month because they are spending

first and saving last, would come out at over $450,000 less

over those same 30 years and 10% rate. Overall I think it is more

than clear budgeting backwards is a fantastic way to not be a millionaire.

Thanks for tuning in today and join us for next week's episode

on how to not be a millionaire Pretending You Can't Die. As

always, please remember to review and share for others. And

if you need any help, don't hesitate in reaching out. I

probably have helped someone just like you until next week.

Thanks for joining me today and I look forward to connecting

with you again soon.

The conversations on this show are

Joe's opinions and provided for general information purposes

only. They do not constitute accounting, legal, tax, or other

professional advice for your specific situation. You should

always seek appropriate advice from a financial advisor,

accountant, lawyer, or other professional before acting upon

any content or information found here first. Joe is affiliated

with New Horizons Wealth Management LLC, a branch office

of TFS Securities, Inc., and TFS Advisory Services an SEC

Registered Investment Advisor, Member FINRA/SIPC.