Get on the highway to financial freedom and accumulate $$$ at Autobahn speed
At 17, Lesley-Anne Scorgie was invited to be on The Oprah Winfrey Show to talk about how her super-saving skills had put her on track to be a millionaire by 25. While it actually took the Torontonian until she was 30 to reach that mark, we’re still pretty inspired. Here, the now 32-year-old money coach and author shares how you can do it too.
1. Check your ego and buy used. “I drive a BMW, wear Stella McCartney shoes and have a house that has been featured in design magazines. Sounds expensive, right? I paid half for my beemer, one-fifth for my Stellas and $3,500 to furnish my entire house. Scour consignment shops, estate sales, auctions and online usedgoods sites like Kijiji and Craigslist.”
2. Get your side hustle on. “It’s all about using your skills to earn extra income. I teach fitness classes four days a week because if I’m going to go to the gym, I’m going to get paid. What are you good at? It could be anything from baking to life coaching to photography. Turn these interests into extra income while you continue earning money through your day job.”
3. Save, save, save. “Are you currently saving 10 percent of your income? Congratulations. Now you need to double it. Women live longer than men and, sadly, still earn less, so women need to save more. Whatever you are saving every month, increase that amount by 1 percent of your gross income every three months
until you reach 20 percent.” C.R.