Self-made millionaire Rachel Rodgers shares her five-step "Million Dollar System" designed to empower individuals to take control of their finances and build wealth. The first step emphasizes the importance of tracking your net worth and understanding your financial position, which can initially be daunting but is crucial for informed decision-making. Next, knowing your credit score is vital, as it opens doors to various financial opportunities. Rodgers advocates for entrepreneurship, suggesting that starting a side hustle can create additional income streams and lead to financial independence. A daily financial check-in is recommended to stay on top of spending and earnings, while hiring a bookkeeper can streamline this process. Finally, she introduces the concept of "Money Church," a weekly session dedicated to reviewing finances, addressing limiting beliefs, and brainstorming new financial goals. By following these steps, anyone can enhance their financial literacy and work towards achieving millionaire status.
Read the full article here.