Unless you win the lottery, getting overnight isn't something that's going to happen. Yet the internet is full of get-rich-quick schemes.
The real key to financial security, although not as sexy; is to get rich slowly! Before you scoff at its impropriety, take a second to appreciate its practicality.
Pay Yourself First!
Each month before you buy groceries, go out to dinner, pay your bills, or anything else for that matter, set aside a portion of your income to save. The first bill you pay every month should be to yourself.
This may not make you an overnight millionaire, but it's a habit that can help you build tremendous wealth over the long haul. We are lucky enough to live in a time shaped by technology. Most banks have apps or websites that allow you to manage your money. You can even set up automatic payments from your checking account into your savings account weekly, bi-weekly, or monthly. Set up an auto-transfer that coincides with your paydays, and watch your savings grow without any effort or ongoing self-discipline involved.
A little often…
Procrastinating is the most damaging thing you can do when it comes to your savings, so whether it be $50, $250, $500 or more, out of every pay-check it may not add up fast, but it soon will. This money can then be reinvested to earn even more.
Talk to an adviser
Skybound's team of experienced financial planning experts provide independent and regulated advice to international professionals and global investors across the USA. We understand the local hurdles that expats need to overcome and have first-hand knowledge of how to use your international status to successfully achieve your investment goals.