Like far too many in my community, I grew up without being taught about money. My only financial education was from what I saw around me, and it consisted of what not to do with money.  As a result, I viewed money as something that “there wasn’t enough of” and that “was hard to come by”.  I had a fear of money and was leery that it would be present for my needs.  Thus, when I entered the real world after college, I felt ill-equipped to handle the money I made. I had a good income, but still lived paycheck to paycheck with no savings. ⁠

Wanting more from my money, I began to study personal finance.  Educating myself about money and implementing what I learned, literally transformed my life.  ⁠Before I knew it, I had accumulated over $1M in assets, becoming a self-made millionaire in my 30s! ⁠And that’s where the accidental part comes in.  I didn’t have a goal to become a millionaire.  It was a result of doing smart and intentional things with my money over time.  It wasn’t until I did a net worth calculation that I realized I had hit the million-dollar mark.  

Being a self-made millionaire means that I didn’t inherit it or hit the lottery. I built it from scratch. ⁠And it took me about 14 years to do so. ⁠If you want to know how I did it and gain insight for your finances, keep reading.  

Educating Myself

Devouring books, interviews, and financial talk shows is how I gained my knowledge of personal finance. I spent 15+ years figuring out the money game and how to up-level my finances. But the key to any learning is implementing what you’ve learned. It took some years of trial-and-error, but I finally found the framework that allowed me to transform my money story around and flourish. The most important thing that I learned was that I had to discipline myself around money in the short-term, to gain long-term wins.  

Budgeting (and sticking to it)

Like many of you, I had a 6-figure income, but not a lot to show for it.  In the early years of my career, I lived paycheck to paycheck and had little-to-no savings.  That all changed when I began to budget…the right way. That didn’t mean creating a perfect monthly budget.  It meant creating one that worked for me and was specific to my needs that month.  You don’t have to struggle to fit a square peg into a round hole.  Once, I got the swing of it, my budget opened a new world to me.  It was like I got a raise! Budgeting gave me insight into my money, which allowed me to stretch each dollar further. 

Eliminating Debt

In 2008, I became debt-free having paid off $25.5k in 8 months. I committed to becoming debt-free and haven’t looked back.  My house is next up and will be paid off by December 2020!   Paying off your debt is an important part of the equation that gets ignored. 

ASSETS – LIABILITIES = NET WORTH

Debt is a liability.  Aside from increasing your net worth, paying off debt also gives you great peace of mind.  Money problems and worries are THE #1 cause of stress for Americans.  So many of you yearn to be free from the weight of debt, especially your student loan debt. It can be done.  You must develop a plan and work it.    

Investing

Compound interest is the workhorse of your financial plan.  In plain speak, it’s interest accrued on interest.  And it grows exponentially over time.  There are many ways to invest, but my preferred method is in the stock market.  I’m a long-term investor that doesn’t try to beat the market.  Because guess what?  Most everyone is horrible at it.  I implement a solid investment strategy and hold onto my investments for the long-term.  For the past 100+ years, the stock market has maintained an upward trend.  Which means you’re always making money over time.  It’s only when you try to time the market and jump in and out that you lose. 

Coaching

The last part of my success plan is personal development and being a continuous learner.  Having a coach for specific areas of my life has always been what’s empowered me to the next level.  The truth is, we all have blind spots.  A coach teaches you how to be ahead of the game and see the things you can’t see along the path to accomplishing your goal.  It’s paid dividends for me and it’s what I help my clients to achieve.     

How I became a millionaire is how you can too!  Grab my free Millionaire Money Checklist for the steps I took to become a millionaire in less than 15 years.