Millionaire Explains: How To Change Your Finances In 6 Months
Β
Listen, I’m not going to sugarcoat it. I know what it’s like to be at rock bottom. I started with absolutely nothing, living in my parents’ basement, staring at the ceiling and wondering how I’d ever climb out of the financial hole I’d dug myself into. It took me longer than six months to reach the multi-millionaire status I enjoy today, but looking back, I can see the clear steps, the pivotal shifts in mindset and action, that paved the way. And that’s what I want to share with you β a powerful, no-nonsense blueprint to fundamentally change your finances in the next six months.
Now, let me be crystal clear. This isn’t about pinching pennies until they shine or settling for a life of “just enough.” We’re not aiming for mediocre here. We’re talking about building real wealth, the kind that gives you options, the kind that allows you to live the life you truly desire. Ready to ditch the financial stress and step into a future of abundance? Let’s go.
The principles I’m about to share are the same ones I used to transform my own life. And to help you implement them effectively, I’ve created two powerful tools:
π The Pick A Horse: The Power to Choose You: This isn’t just a book; it’s a roadmap to identifying your core passion and committing to a path that truly resonates with you. Using the very techniques and exercises I personally employed, “Pick A Horse” will help you cut through the noise, make decisive choices, and stay laser-focused on your goals β the crucial first step to any significant financial change.
π The Manifest Journal: Once you have that focus, you need a system to keep you on track. The Manifest Journal provides that structure with daily morning and evening reflections designed to align your thoughts, intentions, and actions with your financial aspirations. It’s the daily discipline that turns big dreams into tangible realities.
Don’t just watch your life unfold β take the reins! Get your copies of “The Pick A Horse” and “The Manifest Journal” now and start building the financial future you deserve!
Month 1: Facing the Monster Under the Bed β Understanding Your Financial Reality
The Uncomfortable Truth: You Can’t Get Where You’re Going If You Don’t Know Where You Are
Think about it. You wouldn’t try to drive from Boston to Atlanta without knowing your current location, right? The same principle applies to your finances. The absolute first step, the foundation upon which all future progress will be built, is understanding your current financial landscape.
Stop Avoiding the Bank Account: It’s Not as Scary as You Think
I get it. When I was broke, the last thing I wanted to do was look at my bank statements. It felt like staring into the abyss. But here’s the truth: avoidance doesn’t solve anything. In fact, it often makes things worse. That “monster” under the bed of your finances? It loses its power the moment you shine a light on it.
The Core Four: Identifying Your Essential Expenses
So, what does “shining a light” look like? It means getting down and dirty with your numbers. You need to identify your core expenses β the absolute fundamentals required to live your life. This includes:
- Rent or Mortgage
- Insurance
- Food (Groceries)
- Healthcare
- Utilities
- Transportation (Gas, Car Payments)
Grab a pen and paper, or open a spreadsheet. Go through your past few months of bank statements and credit card bills. What are these non-negotiable costs? Total them up. This is your baseline β the minimum amount of money you need coming in just to stay afloat.
Knowing Your Income: The Other Side of the Coin
Next, you need to know your net income β the money that actually lands in your bank account after taxes and deductions. If you’re employed, this is usually straightforward from your paychecks. If you’re self-employed, take a look at your bank accounts and calculate your average monthly earnings after business expenses.
The Starting Point: Knowledge is Power
With these two numbers in hand β your total core expenses and your net income β you have your starting point. You know exactly where you stand. This isn’t about judgment; it’s about awareness. And awareness is the first powerful step towards change.
Month 2: Cutting the Fat β Eliminating Non-Essential Spending
Time to Trim the Excess: What Can You Live Without?
Now that you know your essential costs, it’s time for some tough love. Look back at those bank statements. Beyond the core necessities, where is your money going? This is where the “non-essentials” live β those things that are nice to have but aren’t crucial for survival.
Subscription Overload: The Silent Money Drain
Think about those monthly subscriptions. Netflix, Hulu, Peacock, Spotify Premium, various software subscriptions you barely use⦠they add up! While we might reintroduce some of these later as your financial situation improves, for now, they need to go. Be ruthless. Every dollar saved here is a step towards your goal.
The Eating Out Trap: A Habit That Hits Your Wallet Hard
For me, one of the biggest money drains was eating out. Pizza deliveries, takeout, restaurant meals β it was a constant expense. When I got serious about fixing my finances, this had to stop. In today’s world, with countless food delivery apps, this can be a significant area of unnecessary spending. It’s time to embrace cooking at home.
Identifying Your Personal Money Leaks: Be Honest With Yourself
Beyond subscriptions and food, what are your personal money leaks? Maybe it’s daily coffee runs, impulse purchases, or that expensive hobby you haven’t engaged with in months. Identify these areas and commit to eliminating them for now. Remember, this isn’t about deprivation; it’s about strategic reallocation of your resources.
Month 3: The Game Changer β Increasing Your Income
Savings Alone Won’t Make You Rich: It’s Time to Earn More
This is where my philosophy diverges from some of the conventional financial advice out there. While managing expenses is important, you cannot save your way to true wealth. The real key to changing your financial trajectory is to increase your income.
The Power of More: Expanding Your Earning Potential
Think about it. If you’re constantly focused on shrinking your expenses, you’re living in a mindset of scarcity. To truly become wealthy, you need to shift your focus to expansion β how can you bring more money in?
The Job Jump: A Quick Route to a Higher Salary
If you’re employed, one of the fastest ways to increase your income is often by switching companies. I experienced this first hand in my corporate career. While internal promotions can lead to incremental raises, changing employers often allows for more significant salary negotiation. Don’t be afraid to explore opportunities elsewhere.
Monetize Your Skills: Turning Hobbies into Income Streams
Do you have a hobby or a skill that others would pay for? Painting, braiding hair, cutting grass, photography, writing β the possibilities are endless. It’s time to explore how you can monetize these talents.
The Entrepreneurial Leap: Building Your Own Income Engine
This was the ultimate game-changer for me. While working my corporate job, I established an LLC. This allowed me to start building a side income stream that eventually matched and then surpassed my full-time salary. Don’t just think of it as a side hustle; treat it like a real business.
Building a Business Foundation: Taking it Seriously
Get a website, register your business with the Secretary of State, obtain an EIN (Employer Identification Number) from irs.gov (it’s free!), and open a dedicated business checking account. This separates your personal and business finances and opens up a whole new world of opportunities, including building business credit and accessing business funding.
Business Credit: A Powerful Tool You Need to Understand
Building business credit allows you to access capital β loans, lines of credit, grants β in your business’s name, often without relying on your personal credit score. This can be a powerful way to fuel growth and create even more income streams.Β
Believe in Your Potential: You Have What It Takes
I know some of you might be thinking, “I don’t have the skills or the business acumen.” But I’m telling you, that’s simply not true. I’ve seen teenagers running successful businesses. You have talents and abilities that you can leverage. Stop counting yourself out. The millions are there for the taking; you just need to position yourself to receive them.
Shift Your Mindset: From Employee to Entrepreneur (Even Part-Time)
If you truly want to increase your income significantly, you need to shift your mindset, even if you keep your current job. Start thinking like an entrepreneur, identify opportunities, and create multiple streams of income. Relying solely on one paycheck puts a ceiling on your earning potential.
Month 4: Taming the Beast β Eliminating Bad Debt
Don’t Let Debt Paralyze You: A Strategic Approach to Elimination
Now, let’s talk about debt. While some financial gurus advocate for tackling debt immediately, I believe that focusing on increasing your income in the early stages gives you the firepower to eliminate bad debt more effectively.
The Mindset Shift: Focus on Abundance, Not Just Scarcity
Constantly dwelling on debt can be detrimental to your mindset. Remember, the journey to wealth starts with believing you can achieve it. Seeing yourself as capable of earning more money is a more empowering and ultimately more effective approach.
Understanding “Bad” Debt: High-Interest Killers
When I talk about bad debt, I’m primarily referring to high-interest credit card debt and payday loans. These are the financial leeches that are actively working against you. If you have payday loans, make it a priority to pay them off immediately.
Strategic Debt Elimination: Two Powerful Methods
There are two main strategies for tackling credit card debt:
- The Avalanche Method: Focus on paying off the debt with the highest interest rate first, regardless of the balance. This saves you the most money in the long run.
- The Snowball Method: Focus on paying off the debt with the smallest balance first. This provides quick wins and can be psychologically motivating as you see balances disappear.
I personally found the snowball method helpful for building momentum. Paying off those smaller balances gave me a sense of accomplishment and freed up cash flow to attack the larger debts.
Boosting Your Credit Score: A Key to Future Opportunities
Paying down or paying off credit card balances, especially those close to their limits, will significantly improve your credit score. Aim to get your credit card balances down to below 30% of their limit.
Credit Card Consolidation: A Strategic Move
A better credit score opens up opportunities for balance transfer credit cards with 0% interest. This can be a powerful tool for consolidating high-interest debt and saving money on interest payments.
Rethinking the Emergency Fund: A Credit-Based Alternative
Instead of solely focusing on saving a large emergency fund upfront, consider strategically using new, low-limit credit cards (that you don’t carry a balance on) as your emergency safety net once you’ve paid down your high-interest debt. This allows you to focus on income generation and debt elimination simultaneously.
Month 5: The Ultimate Investment β Yourself
The Highest Return: Investing in Your Knowledge and Skills
Now that you’ve started to eliminate bad debt and, more importantly, increase your income, it’s time for the most crucial investment of all: yourself.
Beyond Stocks and Crypto: The Power of Self-Education
While investing in the stock market, crypto, or even real estate can be part of your long-term wealth-building strategy, the immediate priority is to invest in your own knowledge and skills.
Acquiring Money-Making Skills: The Path to Financial Independence
Learn skills that directly translate into income. For me, that was learning the intricacies of wholesaling real estate, fixing and flipping properties, and managing rental properties. This knowledge became my power.
The Power of Networking: Stepping Outside Your Comfort Zone
Get out of your house! Attend classes, seminars, and conferences related to your income-generating goals. Surround yourself with people who are where you want to be β those who are wealthier, smarter, and more experienced than you. Their environment and knowledge will rub off on you.
Knowledge is Power: The Foundation of Lasting Wealth
Remember, knowledge is power. The more you learn, the more opportunities you’ll see, and the better equipped you’ll be to navigate the path to wealth. The best investment you can ever make is in yourself.
Month 6: Setting it on Autopilot β Automating Your Success
Streamlining Your Finances: The Power of Automation
Congratulations! You’ve made significant strides in the past five months. Now, it’s time to build systems that ensure your continued progress. Automation is key.
Autopay Everything: Never Miss a Bill Again
Set up autopay for every single bill β utilities, mortgage or rent, credit cards. For credit cards, you can initially set it to pay the minimum to avoid late fees. While you’ll aim to pay more, this ensures your credit score remains protected.
Automate Your Savings: Paying Your Future Self First
Automate a portion of your income to go directly into a separate savings or investment account. Start with an amount you’re comfortable with, even if it’s just $100 per month, and gradually increase it as your income grows.
Investing vs. Hoarding: Putting Your Money to Work
While savings are important, remember that true wealth is built through investment. As you accumulate cash, explore opportunities to invest it wisely, whether it’s in real estate, your business, or other ventures that align with your financial goals. I personally prefer to put my money into assets that generate further income.
One Last Powerful Truth: The Decision is Yours
The Ultimate Key to Change: Your Mindset and Commitment
Before I wrap up, I need you to hear this loud and clear. The number one thing that will take you from being broke and living in a basement to becoming a multi-millionaire is you making a firm, unwavering decision that you can and will do it.
Shatter Your Limiting Beliefs: You Are Capable of More Than You Think
You have to stop believing that wealth is unattainable for you. You have to silence the inner critic that tells you you’re not smart enough or capable enough. I used to struggle with low self-esteem and the belief that everyone else was somehow better or smarter than me. I had to do the inner work to realize my own potential.
Focus Beats Intelligence: The Power of Perseverance
This isn’t about being the smartest person in the room. I’ve met countless millionaires and billionaires, and what truly sets them apart is not always intellect, but unwavering focus. If you choose a path, whether it’s a business or a career, and you stick to it, refusing to quit despite challenges and naysayers, you will succeed.
Commit and Conquer: Consistency is the Ultimate Weapon
I had people close to me doubt my real estate ambitions, but I stayed the course. Within a year of going full-time, I was making over $400,000, and the following year, over a million. This wasn’t luck; it was relentless focus and commitment. The same applies to your finances. Decide to change, commit to the process, and don’t give up.
- Grab your FREE copies of “The Pick A Horse” and “The Manifest Journal” These resources are designed to give you the focus, strategies, and daily structure you need to achieve your financial goals.
- Watch the original YouTube video for even more in-depth insights and motivation.Β
- Subscribe to my channel for more empowering content and strategies to help you build the life you deserve.Β
Β
This is Noelle, cheering you on to your success!
