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A WOMAN who comes from humble working-class beginnings has shared how she is on her way to becoming a millionaire at the age of 30.
Charlie, from the UK, took to social media to share how she did and encourage others to do the same.
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In the clip, she said: “I am a quarter of a millionaire and I aim to be a millionaire by the time I’m 40 so that I can soft retire.
“Most people don’t get this or understand this or think I’m talking utter rubbish, but it is entirely possible with the right habits, consistency, financial knowledge and discipline.”
Fortunately, Charlie has just all of that.
She revealed that she works as a tax advisor in private equity and earns a nice £6,000 a month.
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It also means she is in the know when it comes to managing your finances properly.
“I am living proof, having worked a corporate 9-5 standard life like most adults do, that it is entirely possible for anyone to do the same,” she added.
Charlie revealed that she got no help from her parents or won the lottery, either.
“I had no help from parents, no inheritance, no lottery win, nothing,” she explained.
“It’s all been my hard graft for the last 12 years.
“So join me on the journey from working class to financially free where I share the skills on how you can do the same.”
In another clip, Charlie revealed her top tips on building wealth, she says that first, you want to set yourself the goal of saving £1,000.
After this, you then want to get into investing your money so it can earn without you having to do anything.
She also recommended always contributing to your pension.
The first clip went viral on her TikTok account @thetaxlass with over 227k views and plenty took to the comments congratulating her on her success.
One person wrote: “Love that you are in the UK! So many of these vids are from US girlies and it’s just not as relatable, so can’t wait to see more.”
Another commented: “Love this and I’d want to do the same but despite a first class degree and working insanely hard my salary is nowhere near what you’re on so building equity feels really hard no matter how disciplined I am.”
“Good for you girl! I should have worked harder when i was younger & saved!” penned a third.
How to effectively manage your money
Kara Gammell, finance expert at MoneySuperMarket, gives tips on how to get a handle on your finances so you have more left for saving,
If you’re struggling to get a grip on your finances, the way to start is to do a proper inventory.
Try Emma, the money management app, which uses open banking to combine information from all your bank accounts, savings accounts and credit cards, plus investments. The app then highlights any wasteful subscriptions and costly debt and helps streamline your savings.
What’s more, it analyses your personal finances and recommends ways to conserve money so that you can get on track financially more easily than ever.
If you want to have a deep dive into your spending habits, go through your bank statement at the end of each month and give every purchase a rating of one, two or three.
Mark with a ‘one’ any purchases that didn’t make you feel good; give a ‘two’ rating to things that felt ‘sort of good but indifferent’; and mark with ‘three’ any purchases that you would make all over again in a heartbeat.
You’ll be surprised by what you learn.
- Monitor your credit report
From overdrafts to loans, credit cards, mobile phones and mortgages, it can be hard to keep track of your finances, and it can be all too simple to find yourself in the dark about how much debt you have in total.
But this information forms your credit score, which is used by lenders to determine whether you’ll be offered competitive rates and offers for financial products, or even whether you will even be accepted when you make an application.
I use MoneySuperMarket’s Credit Score tool, which is a free credit report tool that lets me see all my account balances in one place.
I’m automatically notified when my credit report is updated monthly, which can be a huge help in avoiding any financial problems from spiralling and means I always know what my overall financial situation is.
The tool also suggests ways to improve your credit score, so you’re more likely to be offered competitive interest rates, which helps you save money in the long run.
Meanwhile, a fourth said: “Am wishing you all the best in your journey.”
“Love this for you,” claimed a fifth.
Someone else added: “It’s all about consistency and patience!”
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