Join J.Money‘s Million Dollar Club, of course! Today I officially announce my membership in the club. The purpose of the club is to create a list of habits and plans you pledge to adopt in the pursuit of your first million. Though with my undergraduate and graduate student loans, I don’t anticipate being worth $1,000,000 any time soon, making a list of goals is always a good way to stay on track. My list is as follows:
1. I will spend less than I earn each year.
2. I will contribute a portion of each paycheck to my IRA, student loans, and savings account before I consider my spending money.
3. I will read more books on personal finance and implement the wealth-building strategies I learn.
4. I will take a few days to consider any purchase that is not a necessity.
5. I will never acquire any credit card debt.
6. I will stick to all of the budgets that I set for myself.
7. I will contribute as much as possible to any employer-matched retirement accounts.
8. I will develop a total financial plan at the beginning of each year.
Given this list, I’ll be using 101in365.com to keep me motivated and working towards my goals (not all of which are financial, but many of which are). While I’m not naïve (I know this list won’t be solely responsible for my first million), I would like to use it to check back every few months to make sure I am maintaining the promises I have made.
So what do you say? Are you ready to make your first million?
What would be on your list?