I recently got the chance to sit down with one of my good friends and and the Miami Heat's very own, Kelly Olynyk. Not only is this man a seven foot scoring machine, he is also saving. Despite making millions on the court, he still understands the concept of SAVING THAT MONEY. Kelly and I discussed one of the essential steps to get in your personal finances in check which is creating a B U D G E T. How much does it cost to be you?
Sit down, break out a piece paper and a pen, and calculate your monthly budget:
It all adds up to how much it costs to be YOU.
Kelly says, once you have that number, the key to saving is figuring out what you can do to make yourself cost less. This is very similar to the advice that I received from Tai Lopez while chatting with him at the bitcoin conference in Miami. He preaches a technique called inversion. Look at what is making you broke and do the exact opposite.
If writing out a budget isn't for you tech savvy millenials, there are some great resources and apps available to help you budget like MINT, MVELOPES, or ACORNS which can help you keep track of what you are saving and spending.
If NBA star Kelly Olkynk has a budget for himself, don't you think you should too?