At the age of 26, Grant of Millenial Money took a screen shot of his bank account which showed a pitiful $2.26. He had just graduated from college. He knew at this point he just had to buckle down.
He was so poor, he had no choice but to move back in with his parents. Luckily for Grant, he soon landed a digital marketing job. To compliment his $50,000 salary he started designing websites on the side . Within a year, he was making more money from his part time hobby than his full-time job.
"I was hooked and turned my side hustle into a digital agency that I still run today,"
Five years later and Grant has generated millions in revenue!
During his five year journey to millionaire status, Grant saved 50% of his income. He didn't just save a ton of money — he put it to work. After all, "in order to build wealth you need to be making as much money as possible on your money,"
Today, despite his financial success, he still focuses on living simply and sets aside 40% to 50% of what he makes.
The key to saving half your income, Grant says, is to make things automatic: "Automation is essential. When I first started saving and investing, I was a little more old school — I was trying to invest as much as possible into the online savings accounts I had set up and it was a pretty manual process. Now, one of the biggest recommendations I make is to automate as much of your savings as possible."
Theres also plenty of micro investing apps that automatically invest your spare change. These often round up to the nearest dollar and then put this additional sum to work by investing in stocks and shares.