How To Save A Million Dollars! | GSK WEALTH BUILDERS | #WealthElevation

On Episode 4 How to save a million dollars and control your financial destiny on #MoneyMakingMonday. 

#KEY POINTS

• Wealth is destroyed mainly by one thing, lack of knowledge
• To be financially successful you must understand: Money, Taxes, Finance , Profitability
• Wealth and income is a function of your Productivity. To increase income we must: 
  • ​Work Harder, 
  • Be Smarter, or
  • Be More Creative

​3 Secrets the 1% use to their advantage​

1. Compound interest 
2. Develop Amazing Habits, and NEVER LOSE MONEY
3. Time value of money and opportunity cost

          $1 = $17.45         $10 = $174.50        $100 = $1744.94

8 Ways, to stop leaks that are destroying your wealth

1. Bargain Shopping : Learn to become a producer and not a consumer
2. Luxury Cars: Are copies of standard cars owned by the same company (i.e. VW & Audi)
3. Over paying on insurance: Check for better rates once a year at multiple companies
4. Cancel Cable TV and get Netflix or HULU
5. Over paying on cell phone bills: Avg Canadian spends $62/mth 
6. Dining out: Order takeout instead or reduce buying alcohol at restaurants/bars
7. Buy a Hybrid Vehicle: Save on your gas monthly (largest saving)
8. Reduce Paying for parking : Get to your location early and find free parking

If you implement these strategies and  save $500/month over 30 years
your savings will be over $ 1,132,000 in 30 years!!!
Even if you were able to save $100/month your savings will be over $216,000 in 30 years

#LINKS
MY #WealthElevation GIFTS TO YOU | http://goo.gl/wu94dI

Compare Insurance: https://www.kanetix.ca/auto-insurance

Compound Interest Calculator: http://goo.gl/UmYy36