It’s not as difficult as you may think to save and invest your way into a financial situation where you have $1 million in net worth.
Askthemoneycoach.com founder Lynnette Khalfani-Cox gives some insight into what she calls a “millionaire-in-training budget” in a video featured on CNNMoney.
Create a budget and stick to it, she says: “You have to get away from thinking that a budget is overly restrictive, and it’s a problem to stick to your budget.”
Khalfani-Cox advises her clients to put something aspirational into the budget that they want to buy, saying: “It will help you stick to the budget.”