Get on the high­way to fi­nan­cial free­dom and ac­cu­mu­late $$$ at Au­to­bahn speed

Elle (Canada) - - Special -

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.

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