Kansas is not the friendliest state when it comes to taxes. However, the tax rates don’t stop people from getting wealthy – there are over 62 thousand millionaire households there. But how can you become one as well?
Kansas is a reasonably affordable place to enjoy life without spending all your time at work, and the average salary is around 66 thousand dollars a year – that’s enough to live comfortably. But to become rich, you need more than that. In this article, you’ll find several pieces of advice on how to make your dream of becoming a millionaire come true.
Buy Lottery Tickets
If you’re not a fan of hard work and love easy solutions, this one’s for you. If you’re fortunate, you can win up to a few hundred million, having paid only 2$ for the ticket. However, don’t put all your hope in it – your mental health is more important. Look at it as at the possibility of having fun, playing the game, where a lucky guess can make you a winner. Just enjoy – but don’t forget to check the Kansas Powerball numbers.
Use Conscious Spending
Try tracking your expenses for a few days – how many items do you buy that you don’t use? How many do you have lying around wondering why you’ve bought them? How many automated payments and subscriptions are completely useless? How many books are just lying in your house, unread?
Although we might not be aware of it, we often make purchases based on emotions. Conscious spending is about using all that money efficiently, instead of wasting it, and focusing on what really makes you happy. To practice it, all you need is to start tracking your expenses and cutting out the unnecessary ones, like taxi rides that cost a few hundred dollars every month. Purchase only things that evoke positive emotions, such as items related to your hobbies or travel tickets.
Set Desires as Goals
If expensive trips, clothes, or video games make you happy – don’t be afraid to spend money on them. Money should serve you, not stay on your account for the rest of your life.
Create a plan and follow it – put all your goals on the list. If you want to become a millionaire – plan for it. Miracles rarely happen, and even if you buy lottery tickets, you need to know what you want to spend your money on. Plan budgets and timelines, and follow them – only then you’ll achieve your goals.
Open a Savings Account
To support your plan, set a saving goal. Think about the best way of saving money for you: locking them in a safe at home, leaving them on the credit card (we don’t recommend that way, as you’ll probably end up spending them), or opening a savings account. And even though interest rates are not the same as they once were, with time, you’ll notice a big difference.
Moreover, many banks offer the possibility of automatic withdrawals from your credit card, so you won’t have to make a special transfer every month. You can also change bank accounts and get sign-up bonuses and higher interest rates that banks often offer for new clients.
It’s important to choose your investments wisely – but it doesn’t mean that you shouldn’t invest at all. The key point here is that you should only consider investing your money if you won’t get into financial troubles if your choices prove less-than-perfect. However, it can be challenging to make the right investment decision if you haven’t been following the markets lately.
The best way to decide is to talk to experts or experienced friends and ask for their advice. You can invest in real estate if you have a lot of money, or in the stock market if you’re willing to take a risk. You can also invest in a start-up: use your judgment to see what idea and which team is the most likely to succeed.
Take Calculated Risks
You can’t make money without taking risks. Even when saving money in your purse or on a credit card, there’s always a risk that someone will steal them. Don’t be scared. Make wise decisions, think deeply, evaluate possible investment outcomes, and consider consulting an expert.
And trust yourself: if you’ve thought something through, and your intuition is telling you to go for it – don’t think twice! Remember that you are free to invest your money in a way you think is best.
Enjoy Your Life
There are more important things in life than getting rich. However, that doesn’t mean you don’t have to follow your dreams. You can enjoy a balanced life and become wealthy at the same time. Just remember to make wise decisions, leave a place for risk in your life, and don’t allow the money to take over you. Dream, achieve your goals and don’t become Scrooge McDuck.