Grant of Millennial Money started his career with just $2,26 after he finished college.
He moved back with his parents, got a marketing job for $50.000 a year and then he started building websites as a side job. In a year his side job gave him more money than his marketing one.
“I was hooked and turned my side hustle into a digital agency that I still run today,” the 31-year old millionare. “I’ve generated millions and millions of dollars in revenue growth across my clients.”
Just after five years, he went from $2,26 to 1 million in his bank account.
His key step to building such a vast sum of money was saving.
Even today, with his huge financial success, he saves 40-50% of his income.
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.”
In this age, there are many handy tools and apps “that make it so easy to save without even thinking about it,” the millionaire said. His recommendation is to talk to your HR department and having a portion of your income automatically sent to your savings account.” This is in addition to contributing to your 401(k)”, Grant notes.
He says that you can look into micro-investing apps that invest your spare change.Such one is Acorns, which will round up your purchases to the nearest dollar and automatically put any spare change to work.