This Is The Amount You'd Have To Save Everyday To Become A Millionaire

We've all been there - having enough of your financial struggles, so the decision is made to tuck away money at the end of each month.

"Right, this is it. I'll save a tenner a week and by the end of the year, I'll be rolling in it."

Alas, once there is £60 in a pot, the idea of going out on the lash that coming Saturday is far more appealing than waiting until the end of the year to spend your savings.

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Because of this, the theory of saving money until you become a millionaire seems impossible.

It isn't (given that you're a patient and strong minded person).

This Is Money - a website that calculates how long it'd take you to become a millionaire - says that if you were to save £6.60 everyday, starting from the age of 21, then you'd finally be a millionaire by the time you're 83-years-old.

It doesn't seem all that useful. As far as I'm aware stair lifts aren't all that expensive, nor are Werther's Originals.

According to the Telegraph, we spend £2,500 a year on lunch and snacks, so the small price of £6.60 per day doesn't seem like much. However, I'm lucky if I end the day with a penny in my pocket.

I calculated the age that I'd become a millionaire, if I was to save what would be a realistic amount to me (£5 per day), and well, it doesn't look good.

Credit: This Is Money

I guess the idea of being a millionaire is much better than actually being one.

That is a lie. I want loads of money.

Featured image credit: DJKhaledVEVO via YouTube

Topics: Money

Mark McGowan

Mark is a journalist at LADbible, who joined in 2015 after a year as a freelance writer. In the past he blogged for independent football fan channel Redmen TV, after graduating from Staffordshire University with degrees in journalism and English literature. He has worked on campaigns such as UOKM8? and IIOC.