I learned these money lessons the hard way, so you don’t have to

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These are the lessons I learned crawling out of financial hell.

No need for a big-bloaty introduction to this story, the title of this article says it all, and we have a lot to cover.

Let’s go.

The best part about hitting rock bottom is that you finally hit a point where you can start improving your situation. The worst part about hitting rock bottom is that you don’t know you’ve hit rock bottom.

There’s no one around to tell you that this is as bad as it gets. …


A one-week window to send us your best career stories

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Building Arks with Jason Clendenen recently submitted a fantastic piece to Making of a Millionaire were told us why moving up the corporate ladder was holding him back financially.

Using this article as a “leaping off point.” Over the next 7-days, we will be looking for submissions from our writers where they share their experience moving up (or not) the corporate ladder.

  • Did a promotion improve your finances?
  • Were there unexpected problems with a new job title?
  • Was the additional workload “Worth it?”
  • If you could do it over again, how would you manage your career differently?

These are just…


Personal Finance | Saving Money

A painless way to achieve an ultra-high savings rate

A woman relaxing in a chair.
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The best financial advice is what you will actually follow through on.

Personal finance writers (like myself) write incredibly detailed posts with specific advice on managing your money. But there’s often a huge gap between how you should manage your money and how you will manage your money.

Most people don’t like change. Even if they're unhappy with how things are going in their lives, they are resistant to make major changes to their day-to-day lives. Never underestimate the power of inertia.

The easiest way to save more money is to address your two big fixed expenses.

  1. Housing
  2. Transporation

I’ve…


A new weekly column from Making of a Millionaire

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I am very excited to announce Making of a Millionaire’s first-ever “joint column” titled “My Money is a Mess

It will be written by me and Elizabeth de Montréal.

Elizabeth is going through a really rough patch in money and life right now. As she said in her initial email to me, “My Money is a Mess

  • Each week, Elizabeth will describe an area of her financial life she is struggling with
  • I’ll assess the situation and offer up some ideas on how to turn things around.
  • Elizabeth will go out and implement some of these ideas in real life…


Medium is about ideas while Substack is about relationships

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When you find someone who is living the life you strive for, listen to their advice. Especially when they tell you something you don’t want to hear.

One of my ambitions is to become a full-time writer and make enough money from writing to continue achieving all of my financial goals. In that arena, I can't think of many people who have better advice than Tim Denning. The guy is running a successful full-time business centered around writing. He is living the life I am working towards.

A while back, Tim was kind enough to email and tell me he…


We can learn a lot about managing money by identifying objectively bad advice.

For me, almost any advice that is delivered as a “hard and fast rule” and without nuance is bad advice. Personal finance is, well “personal.” So, any advice that isn’t able to be molded around your personal circumstances is bad.

For example, I recently wrote about how saying all debt is bad and should always be avoided is terrible advice that could have ruined me if I listened to it.

What’s the worst advice you’ve ever heard? Let’s talk it out in the comments.


Four personal finance writers give their take on that question

Welcome to the Weekly Dividend, a newsletter from Making of a Millionaire, where we highlight the latest and greatest content we have to share with you from the past week.

If you enjoy the stories you read on Making of a Millionaire, forward this email to a friend. If someone forwarded this to you, consider subscribing here.

This week we are talking debt. Is it ever good? Should you use it? And if so, when and how?

Stop Calling it “Good Debt”

In this article, Sam Dixon Brown makes the argument that we should stop referring to certain types of debt as “good” even if…


Personal Finance | Financial Literacy

We need to teach it at the exact moment you’re about to do something stupid

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Teaching kids personal finance in school is a waste of time.

I cringe every time someone brings up the issue of “financial literacy.” To be clear, I agree that more financial education is needed to help people make smart decisions with money.

I disagree with the usual lazy take around financial literacy, which is that we need to teach kids personal finance in school. Sure, I’d prefer my kid learning about credit cards and the stock market instead of trigonometry, but it probably won’t make a big difference one way or the other.

The human brain forgets newly learned information…


Never think finance is a boring-ass subject that isn’t for you — finance is for everyone

Welcome to this week’s “meet a MOAM writer.” Today we are highlighting: Charlie Brown

Hola amigos! My name is Charlie Brown (a memorable name, yes, but annoying to actually own), and until last year I owned a wine store and bar in the UK. Last October, I sold my business, house, and most of my possessions to live on the road with fellow Medium writer Sam Dixon Brown. I am currently in Barcelona, Spain, for the next couple of weeks at least…

A fact you may not know — I started working when I was just 6 years old. My…

Ben Le Fort

Making of a Millionaire editor | Personal finance writer | Author of the upcoming book, “The Financial Freedom Equation”

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