Here is how an account can save up more money than their salary:
- Saving money might be one of the most important things in life since everyone needs but not all succeed to do it. The society makes us thinking that everything costs a lot of money and you need more than you actually have. But… Does the average person really think about how much they are making? And if they do, are they aware how little some jobs pay? We will see today that even 20 years old can save up more money than what they make weekly. How is this possible you might ask? Well, first we will talk about people who start working young with only $500/mo salary and still manage to be rich by their 40’s says Aron Govil. Then we will show you guys how an 18 year old dude living with his parents makes more money than you and me without even leaving their home. Finally we will finish with a story about a guy who didn’t have to do much but work a little bit each day during his summer break to earn $2,500/mo which is going to finance the last 2 years of high school.
- So Ty Kelly just turned 19 this month and he started working when he was 18. His first job paid only 500$/month but its ok since people should start somewhere right? But from that moment on, he never stopped looking for an opportunity to make more money or ask for a raise. He did pass by some rough times where he had no income at all but in the end he learnt how to take advantage of the best opportunities so he could save up more than $500/month.
- Today he is 21 and has saved up $12,000. This money came solely from working in his summer breaks including building a website where he gets around $1,350 monthly since 4 years ago when it was just created. But how much did Ty Kelly make each month averagely after all this time? Around $2,000/mo! And that’s still without taking into account that today he is living with his parents which means no rent fee, bills or food to pay for. Not bad right? Well let’s see if you can outdo him by doing less work in your job next time you ask for a raise or try to get another offer says Aron Govil.
- But not everyone is blessed enough to have a job where they can make that much money in their summer breaks. Sometimes you go through some school periods without working at all and then suddenly your boss wants you to work the entire summer even if it’s only for $500/mo. luckily, there are always options when you look around hard enough! For example, this dude had the chance to live with his parents for free during four months of college break which saved him $7,200 on his own right there since he was able to save every dollar he made above the expenses of staying there (food + bills) explains Aron Govil. And what did he do with that money apart from simply saving every month? Well… Invest it in good stocks like Apple, Disney, Nike and other companies so he could be richer for the years to come.
- What people usually forget is that even if you don’t have a lot of money in your bank account, there are ways to invest it right now with low interests. And believe me; the interest grows exponentially when you made a little bit of profit from anything you invested before! Capital one 360 is a good place to start since they offer 4% return on your investments which is pretty decent compare to most banks or websites. On top of that, they don’t take 0.5-1% out every 3 months like most accounts do making it impossible for anyone living below poverty line to save up any penny whatsoever.
If you don’t have a job yet and want to start making money, find one as soon as possible even if it’s minimum wage says Aron Govil. Just spend the entire paycheck on yourself and save up every month until you can handle living by yourself or at least with your parents. And last but not least, invest any penny that is left over every month in good stocks so it can grow exponentially overnight.