This is how much money you need to save every day to become a millionaire

The average income of an adult in the UK is £21,000 according to HM Treasury budget analysis. Which is approximately a paycheck worth £1,500 every month.

If you earn the average salary and start saving £200 a month or £6.60 a day with a five per cent rate of return, you will be a millionaire…

By the time you hit 83.


This calculation, using however doesn’t take into account any promotions increases or monthly marriage assets.

Most of us however just can’t afford to save back £200 each month, so sadly the chances of this happening are fairly low.

According to the Telegraph, we spend £2,500 a year on lunch and snacks, and we probably spend money on other needless items too.

Saving up to become a millionaire at 83 doesn’t seem very realistic, but I’d be more than happy saving up to go on holiday every year myself!

I guess we can always keep dreaming!

Continue reading: Previous page