Mistake 2# Not having a budget

Your budget is the key to achieving all your goals. How you choose to spend your money can either take you closer toward your dreams or further from them into debt.

What millionaires do: They take their monthly income, subtract regular monthly expenses like housing, transportation and utilities, and allocate 20 percent to 30 percent to savings, retirement or debt. The rest covers your living expenses, like eating out and entertainment. In case if they are worried about running over, they will limit themselves to a set amount in cash every week.

Mistake 3# Paying unnecessary bank fees

If your bank is charging you for having a checking account, bill pay, having a savings account, overdraft protection, talking to a representative and shop around. Don’t keep mum instead do something against it.

What millionaires do: They go on online websites to search for a better deal.  They consider credit unions, which have lower interest rates on loans and charge less for bill pay and overdraft protection. They always make sure that they keep their old account open long enough for all recurring transactions and checks to clear so that they don’t bounce any payments.