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Wanna Be A Millionaire? Learn From These 12 Kids Who Already Are

Wanna Be A Millionaire? Learn From These 12 Kids Who Already Are

Have you ever known a child who is on their way to being a millionaire before they’re old enough to legally drive a car? We joke about the kids at the neighborhood lemonade stand being “entrepreneurs in the making,” but that may not be as much of a joke as we thought. Kids these days. . .

There are actually a surprising number of millionaires who haven’t even graduated high school yet. We’re not just talking about Richie Rich here. We’re talking self-made millionaires who aren’t even old enough to open a bank account on their own. We’re talking about kids who understand business and how to make money. The mindset starts at a young age.

Without further ado, here are 12 millionaire kids we can learn from:

1. Christian Owens of Mac Bundle Box

Christian made his first million before he was 16 years old. He taught himself web design at a young age and started his first design company at 14. He then went on to negotiate with various manufacturers and distributors to offer a bundle package of applications for Mac OS X (Steve Jobs was his motivator and inspiration). The Mac Bundle Box has since made him millions.

The lesson: Follow your passion, sure, but the main lesson here is about saving people money. Find a way to offer something people already buy for a lower price.

2. Emil Motycka of Motycka Enterprises

Emil start a lawn mowing business at 9 years old. Lawn mowing may seem like a pretty typical business for a kid, but this kid took it to the next level. He took out a loan for $8,000 when he was 13 years old to purchase a commercial lawn mower. He formed Motycka Enterprises by the time he was 18 and went on to make well over $100,000 that summer. He’s now making millions.

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The lesson: Following a strong passion can work, but on the other hand, doing something and doing it well is just as good if not better. As Mike Rowe from Dirty Jobs says “Don’t Follow Your Passion, But Always Bring it With You.” Whatever you do, do it better than everyone else.

3. Evan of EvanTube

Evan started a YouTube channel called EvanTube when he was just 8 years old. Now he is making approximately $1.3 million a year from his channel with over a million subscribers. What are his videos about? Exactly what you might think – reviews of toys and other things that kids his age are interested in. Yes, you can get rich talking about Minecraft, Angry Birds and Legos!

The lesson: If you do what you love and do it well, you can turn it into a million dollar venture. That doesn’t mean it’s easy, but with persistence, you can make it happen.

4. Cameron Johnson of Cheers and Tears

Cameron was earning around $400,000/month in high school. It all started when he created invitation cards for a neighborhood party his parents were having.  When the guests saw the cards, they started asking him to make cards for them and paying him for it. He founded Cheers and Tears at 14 years old, then preceded to go into software development and online advertising, which made him a millionaire by the time he was in high school.

The lesson: If you do something well, you might as well do it big. Dive into new industries and try new things. They just might make you a millionaire.

5. Adam Hildreth of Dubit and Crisp

Adam was a millionaire by his 16th birthday after creating a teenage social networking site called Dubit (popular in the UK). After he had so much success with his social networking site, Adam went on to create Crisp, a company that helps protect kids against online predators. In 2004, he made the UK’s top 20 richest teens list.

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The lesson: Sometimes it’s best to look for a popular trend and do it yourself. It’s also a good idea to find a need and create a solution. Adam did both.

6. Moziah Bridges of Mo’s Bows

Moziah started a bow tie company at 9 years old and quickly grew his business to earning $150,000/year. Today, Moziah has several employees. He has been featured in several popular magazines and even went on Shark Tank. He’s working on a full clothing line at the moment, which I’m sure will end up being an impressive success as well.

The lesson: If you decide to start a business, keep growing and expanding. There is always room to make your business bigger, just be sure to have a great team to help you along the way.

7. Geoff, Dave, & Catherine Cook of My Yearbook

Before everyone was on Facebook, these three siblings started My Yearbook, a social media site based on the school(s) you went to. It was similar to Facebook at the time, but with more focus on grade school rather than college. The idea to start the website began when they moved to a new town and wanted to make some friends. The site took off and six years later. The Cooks ended up selling the site to the Quepasa Corps. for $100 million. Not bad at all.

The lesson: Find a need and fill it. Be proactive. These kids could have let themselves get down about not having friends in a new place, but instead they decided to do something about it.

8. Sanjay & Shavran Kumaran of GoDimensions

Sanjay and Shavran, at 12 and 14 years old, respectively, run their own gaming corporation. They have several apps, with over 35,000 downloads between them. They have developed the popular Catch Me Cop app, among others. Their apps are monetized purely through advertising, which makes them free for kids to download. Now they speak at events and conferences on ideas, making them happen and drawing up business plans.

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The lesson: This one actually merges following your passion with doing what you do really well. It’s the best of both worlds.

9. Farrhad Acidwalla of Rockstah Media

Farrhad founded Rockstah Media, a marketing agency with 20 employees around the world and he did it at 16 years old. You may have heard of his company or you may know Farrhad from one of his TED Talks. He is known today as one of the most promising entrepreneurs of our time. When asked about the success of his company, Farrhad said “My team is the backbone of my company,” which can definitely teach us a thing or two.

The lesson: You can’t do it all on your own. Building a strong professional team is important if you really want to take you business to the next level.

10. Robert Nay of the Bubble Ball App

Robert raked in over $2 million in two weeks, following the release of his famous Bubble Ball game. He was only 14 years old at the time. Today, his game has been downloaded over 16 million times and Robert continues to develop new apps with his company, Nay Games. Bubble Ball has been seen on Good Morning America and continues to be one of the most popular games in the Apple Store.

The lesson: Some people really can achieve overnight success. That shouldn’t be your goal, but if you create something good enough, it could happen for you.

11. Nick D’Aloisio of Summly

Nick sold his company, Summly, to Yahoo for $30 million in 2013, making him one of the youngest self-made millionaires in the world. Summly went on to become Yahoo News Digest. Nick now works for Yahoo and has been named “Innovator of the Year” by the Wall Street Journal. He was included in TIME Magazine’s “Time 100” as one of the world’s most influential teenagers. Nick is also the youngest person to receive a round of venture capital in technology from Hong Kong billionaire, Li Ka-Shing.

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The lesson: Age doesn’t have to hold you back. Nick was even able to receive funding from a billionaire, despite his age.

12. Leanna Archer of Leanna’s Hair

Leanna was bottling and selling her own hair pomade at just 9 years old. She got her secret recipes from her great-grandmother and has since expanded to an entire line of hair products based on the same recipes. Leanna’s company brings in over $100,000 annually and her net worth is over $3 million. She has also founded the Leanna Archer Education Foundation. Her foundation helps provide basic needs, including education, to 200 Haitian kids each day.

The lesson: When you find success and make lots of money, be sure to give back. Money is a great tool for many things and it is a necessity to help others who have little to nothing.

These kids show us that age is not a limitation. You’re never too young or too old. If you really want to make a difference in the world, start now, no matter your age or any other limiting factor. The commonality among all of these kids is their mindset.They didn’t start with a mindset of “can’t”, they started with a mindset of “how can I?” You can do the same. Even if you’re still in high school.

Featured photo credit: Moziah Bridges/Memphis CVB via flickr.com

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Kalen Bruce

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Last Updated on June 26, 2020

25 Easy Tips on How to Save Money Fast

25 Easy Tips on How to Save Money Fast

“How to save money fast?” This is the question asked by all of us not in the top 1% of rich people.

If you are looking for ways to drastically reduce your expenses immediately, first look at what you need to spend money on every week. And I mean really need.

You don’t really need to order in food. You don’t really need to buy expensive perfume.

Building from that, you can work out how your regular expenses can be reduced.

As for irregular expenses, they can also be deceptively costly in the long run. Once-off buys can also be tackled with some prudent planning and a little extra research.

And remember: a budgeted lifestyle does not mean a bad or boring one!

But first, understand what budget you can cut down on daily:

  • Regular expenses for the average adult (can be trimmed but not eliminated):
    • food
    • rent/mortgage
    • cell phone
    • insurance
    • socializing/entertainment
    • transportation
    • hygiene products
    • household bills
  • Irregular expenses for the average adult (can be eliminated or cut down a lot):
    • travel
    • clothing
    • medication (*depends)
    • grooming (hair, nails etc.)
    • gifts

Now, let’s dive right into the 25 ways to save money fast:

Save Money on Food

1. Bring a stock of food to the office/work

Instead of popping out for an overpriced salad and a smoothie, leave a set of basic utensils at the office as well as a stock of non-perishable goods such as tinned fruit, tuna, rice crackers and so on (try to avoid the junk food and this can turn into a pretty great diet!).

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Stocking up means you won’t forget or say “I didn’t have the time” when you rushed out to work in the morning.

2. Buy the store-brand version

Many basic foods, such as bread and milk, will taste exactly the same as their branded alternatives. Go for stuff with minimal additives and preservatives. Meat in a tube is probably insanely unhealthy!

3. Eat cheaper cuts of meat

Learn how to tenderize and flavour cheaper meat and fish, and save on the (typically) most expensive item on your grocery bill.

4. Have group dinners

If 10 friends put $5 each in the kitty, it’s pretty easy to make a giant lasagne and get refreshments, as well as hang out with your favourite people.

Save Money in Transport

5. Get a bicycle

Save on gas money and bus/metro fares with this underrated mode of transport.

6. Use public transport and/or don’t get taxis

Some places can only be reached by car. But as a good practise, check your public transport website and see if any routes pass nearby where you need to get to. Walk as much as you can.

7. Find the cheapest gas

Regularly check out where the cheapest gas can be bought.

Save Money in General Shopping

8. Shop online

Not only will you save on the gas or transport fares from going to the shopping mall but you will also find better deals

9. Sell your old stuff

Get your unwanted belongings up on eBay ASAP and earn a few dollars.

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Here’re more ideas for you: 25 Things to Sell to Make a Lot of Money

10. Bulk buying stores

For regular non-perishable/slow perishable purchases such as toilet paper, cat food, pasta, washing powder and so on, do an epic stocking-up trip to a co-op or equivalent (my mum used to go to a place that restaurants buy from).

Be wary of supermarket “deals”, as some have been found to be fraudulent after working out a simple calculation.

11. Become a flea market/car boot sale/street market guru

You can find original gifts and develop good negotiation skills at these places.

12. Generic brand medication

More often than not, the generic version of paracetamol and other basics work the same as the branded version.

13. Choose deodorant, not perfume

It blows my mind when someone drops $70 on a bottle of spray. Stick with a nice deodorant, and not only will you smell just fine but you’ll be sweat-free as well!

Cut Down on Household Expenses

14. Printing

Ink is one of the most expensive substances in the office and coloured ink is doubly so. B

e more efficient and choose black and white, and if your printer doesn’t have a print-both-sides options, just print odd pages first, re-insert the paper and print even pages.

Expand the margins of what you are printing as often as you can to save on paper.

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15. Minimize SMS and phone calls

A combination of a free chat service such as WhatsApp and a free call service such as Skype can reduce your bill to nothing (so long as you have a decent Wifi connection).

16. Shop around for insurance

Most people don’t spend enough time searching for the best insurance deal.

Keep a watchful eye out for deals and new competitors in the market.

17. Try re-negotiating your rent/mortgage

If you have built up a good credit history or a good rapport with your landlord, then chances are a frank chat about needing to tighten your spending could result in lowering your payments. You’ve nothing to lose from trying.

18. Don’t get a TV

Invest in a computer/laptop and an internet-only package. You can watch more (and often better) entertainment on the web, and skip the advertisements as well.

19. Pool your internet bill with a neighbour

My apartment building is basically a big old house split into three apartments. There are five of us in total. We pool the internet bill, making it crazy cheap.

Save Money in Socializing, Entertainment And Travel

20. Have house parties

Instead of paying for overpriced drinks, set up a series of in-house get-togethers with your friends. Everyone takes a turn, so it’s not always your house that needs cleaning.

For sound insulation, hang heavy drapes on the walls and windows. For music, invest in a good second-hand set of speakers which you can connect to your computer. Let Spotify or Grooveshark playlists do the rest.

21. Open festivals, meetups and events

It never fails to surprise me how much underground stuff goes on around me for free or for very cheap. Find out who runs the blogs and websites that list all the less well-known cultural activities.

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22. Volunteer

If you can’t pay for a ticket, volunteer and get to be there anyway.

23. Housesit

There are multiple housesitting websites offering you the possibility to avoid paying hotels and skip the discomfort of crummy hostels.

Save Money on Hygiene and Beauty

24. DIY beauty

French manicures, pedicures, waxing, eyebrows… pretty much all of these can be achieved at home (and done well) with some practise. There are plenty excellent blogs and YouTube tutorials to help.

25. Fewer haircuts/volunteer at a trainee hairdresser

If you can’t bear the risk of a trainee touching your locks, learn more ways to manipulate your hair as it grows and get haircuts sparingly. Women’s haircuts are outrageously priced in many cities.

Bonus: Effective Money-Saving Tips for Everything

Here’s a summary of what you can generally do to save more money:

  • Share/pool resources. Organize a neighbourhood sharing scheme, common resources for your apartment block or with your friends. Not everybody needs an individual lawnmower.
  • Buy energy-saving everything. The easiest way to lower your bills – replace those lightbulbs!
  • Buy in bulk. Be sensible about it (i.e. make sure you have space!), and drastically reduce weekly expenditure.
  • DIY. Skill up using YouTube tutorials on plumbing and many other essential services so you never have to pay for simple problems again.
  • Research a lot before making a decision. Most money-wasting is the result of poor preparation and planning. Don’t shirk this part just because you don’t like it!
  • Use your network. Your network is full of resources that can ease the pain of budgeting. Ask for help.
  • Stop and think. Do I really need it?

Unfortunately, there are some things that require plain ol’ giving up for the time being. This can include high-cost sports such as skiing, the latest versions of some technologies, the finest brands of food/drinks, premier seats at the opera and most other indulgences.

What is important to remember during lean times is that when you look back on your life, it will be the experiences that stand out, not the extra comforts.

Living on a budget can teach you a lot about how much you can really get out of your paycheck. We only live one life, so make the most of every penny you earn!

More Tips for Personal Finance Management

Featured photo credit: Unsplash via unsplash.com

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