.1%.

The number isn't too big since every other person is not a millionaire and neither it's too small.

Since every single year, hundreds of thousands of people joined the millionaire club.

If you are born in the right place and your basic needs were met while you were a child so that you did not have to work as a kid, then you stand a pretty good chance to become a millionaire.

If you take a series of good financial decisions, even if you're struggling in your twenties or thirties, that doesn't mean you still can't make it because the average age of millionaires in the US is between 60 and 79 years old.

But according to our demographics, most of you are in your twenties and thirties.

So do not tell yourself that it's already too late.

So what percentage of adult population are millionaires?

Almost 2% around six million adults are millionaires.

That's a pretty big number.

If you ask me, of course, while you're worried about how to pay your rent, it's difficult to imagine yourself earning millions of dollars, but you don't need to make millions of dollars to become a millionaire wealth isn't overnight.

Think it's something you accumulate over time.

It can take you a few years or a few decades, but every big goal starts with a series of small steps.

Every complex problem is a combination of multiple small problems.

So if you want to set yourself up for financial freedom you have to start taking actions that you can afford now.

So here are the seven small steps that you can take today to fold your path to financial freedom.

If you already give this video a thumbs up and let's start with the first one, develop a routine.

This might not sound like a financial decision, but I can confidently tell you that by having an effective and productive routine, you're going both to save a lot of money and make a lot of money.

People who do not have a routine and are having adventures every single day end up wasting a lot of money are routine allows you to have a clear idea of how much money you need and stick to it.

That's the only way to be conscious about every penny you spent.

Of course, if you're earning hundreds of millions of dollars, you probably can do without it.

But the small scale, every penny matters, you need first to build a capital that you can rely on, and secondly, at this age, you're probably at the beginning of your journey.

So every hour that you spend, not investing in yourself is an hour wasted.

And in the long run that wasted our will compound and you might be missing on some huge gains.

Number two.

Stay away from social media.

Social media is a recent thing, in fact, the internet is a recent phenomenon, but we can already see the implications of always being on social media, especially for teenagers, there are people whose job is to show everyone how exciting and great their lives are because that's the only way they can attract attention and therefore monetize that attention to pay the bills often.

That pays pretty well.

People generally understand that social media is in real life, but we spend so much time on it that we forget about the fact that instagram is just a series of pictures taken at one particular time and doesn't represent the real day to day life of these people.

So we strive to be like them.

People get into debts to impress, others drive better cars or even travel just to show their friends that their lives are as good as theirs.

Social media is of course a great tool, but when it leads you to make bad financial decisions, that ruins your life, then you're probably spending too much time on instagram.

Stay away from social media as much as you can does scroll through your instagram every moment you're distracted.

Number three better sleep leads to better financial decisions.

There are many ways to financial freedom from easy ones where your father gives you a small loan of a million dollars to lock your ways where you win the lottery or tough ones where you build a successful business.

However, most people aren't going to win the lottery, nor will their parents give them a small loan of a million dollars with zero interest.

So you're left with only one choice where you work hard for years to achieve that goal where you make the right financial decision every single day for many, many years.

But it's difficult to make the right decision where your brain is exhausted.

Your brain has a short term memory and a long term memory like a computer, Whatever information you receive, your brain saves them in the short term memory.

It's like a ramp.

But whenever you go to sleep, your brain transfers that information into your long term memory.

That's why it is really difficult to think properly if you did not have enough sleep because your short term memory is filled with information and it needs to move them to your long term memory.

So one of the best ways you can help yourself to make better financial decisions is to simply sleep better, go to bed on time.

Make sure you don't get distracted while you're sleeping and always make it a priority to sleep.

Well.

Number four have a goal in life.

Life is unpredictable.

It's probably what makes life interesting.

No matter how you plan.

Things always go the other way.

Sometimes better and sometimes worse.

But if you at least don't know what direction you're going to, chances that you will be where you want to be are very slim.

Despite how chaotic life is, it's always better to have a goal that you strive to.

That at least inspires you to stick to your daily routine.

We've already talked multiple times about how daily small savings can lead to millions of dollars in the long run through compound interest.

Of course it is going to be different for everyone since we're all under different circumstances.

But you have a sense that you have a goal is a small thing that you can do today to move in the right direction.

Just make sure that your goal isn't to big and isn't too small and practical to a certain extent because if it's too big, you'll be lacking behind and probably forget about it while if it's too small, it won't inspire you.

No five.

Stay away from money wasters.

They're both things that waste your money and people that are too expensive to have around friends that you can simply be around without wasting money on things you don't really need, avoid these types of people at all costs because they will forever keep you in the dark financial situation.

Sometimes it takes just one bad person around you to ruin your financial life.

Other times, it could be just a bad habits such as smoking or drinking.

Guess what happens when you start making more money, you will drink more or smoke more often and damage your health further.

Making more money is only going to harm you.

So start working on these problems.

Now turn your bad habits into good habits.

Remember, you can make your life far better without spending a single penny and all these small improvements will only help you to achieve your financial goals faster.

Number six, learn how to solve their problems without money.

At first glance, it seems like money can solve all problems.

The truth is that money does solve a lot of problems, but not all no amount of money is going to get your real friends or overcome your insecurities, you might be able to appear that you're no longer insecure, but they're going to hide deep down inside you.

You don't need to make millions of dollars to feel confident or improve their social skills and build deep connections with your friends.

Most people are not going to be financially independent, so you don't have to be want to do that.

Keep working on your financial goals.

But at the same time, if there is something you can solve without wasting money, go ahead and do it, work on your self esteem, learn how to build valuable connections, boost your confidence.

You don't need money to do that.

You need willpower and time, which you probably have if you're watching this video number seven, be conscious about your spendings for some reason a lot of people consider you cheap.

If you count every penny you spent as if you're so stingy, but that's not the case, you can be spending randomly and expect yourself to be left with some savings then of the month, that's why most people live paycheck to paycheck money is not an infinite resource.

You have to spend your time to earn it And your time is limited.

So every dollar you spend is the charm you have spent working so before buying anything or paying for something?

Think twice.

Do you really need that?

It did something worth the price if your hour is worth $20 and that pair of sneakers as a price tag of $300, do these sneakers worth 15 hours of your life or two working days?

The first step of financial independence is knowing where your money goes then only you can manage it.

Of course.

The path to financial independence requires far more steps than these seven simple steps.

But you have to start somewhere preferably start with something small because it's much easier to stick to simple small habits than pushing yourself to do something big.

That's so difficult.

You might end up giving up in the middle.

If you have enjoyed this video, you almost definitely enjoy this custom playlist that I have created specifically for you that has our most popular videos and business investing in the stock market.

That could potentially change your life.

Don't forget to get your two free stocks from Weibo or check out my investing course and skill share and now give this video a thumbs up that it deserves a nature to subscribe if you haven't done that yet.

Thanks for watching and until next time.

Yeah.

Mhm.

Mhm.

Mhm.

Mhm.