Money Habits That Made Me a Millionaire

Tactical habits to start boosting your net worth!

Author

Michela Allocca
February 25, 2025

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MONEY
3 Habits That Made Me a Millionaire

A few weeks ago I hit a major net worth milestone. My goal was to reach it by my 30th birthday, and I hit it 5 months early. And guess what?

Nothing happened.

I saw the number. I called my dad. He said WOW. And then I moved on with my day.

This has happened with every major net worth milestone I've hit.

We work ourselves up to think that we'll feel so much better when there is a certain number in our bank accounts but the truth is that outside of maybe a few minutes of feeling cool, it's just a number on the screen.

All this to say, if you’re focused on the numbers right now and want true, tactical tips that are actually going to make a difference, you’re in the right place.

Today I am going to be sharing 3 habits that made me a millionaire in my 20s. If you’re looking for even more, I share an additional 2 habits in this weeks YouTube video!

Let’s dive in!!

1️⃣  Living Below Your Means & Delayed Gratification

Honestly this isn’t talked about enough. Delayed gratification is one of the most underrated financial skills you can develop, because it requires discipline and willpower. If you’re able to separate your desire for something from your actions (i.e. actually purchasing), you will transform your relationship with spending money.

I have applied this concept specifically to my living situation throughout my 20s. As I have grown my business and increased my income, I’ve been super strict about ensuring that I don’t allow my rent or my living expenses to increase dramatically.

Even though I could “afford” to pay more, have more space, or even purchase, I’ve decided against it for now to keep my living expenses low and front load my investments so I can reach financial independence (more to come).

The more you invest early and up front, the more opportunity that money has to grow!

2️⃣ Constantly Seek Out New Ways to Earn

The goal of your 20s (and 30s) should be to increase your earning power as much as possible. This doesn’t mean you need to be earning THE MOST you’ll ever earn right now, but you need to be developing your skills, exploring side hustles, and maximizing your ability to earn.

I did this a few ways during my 20s:

  • I changed jobs frequently to increase my salary and always negotiated a guaranteed bonus

  • I started a side hustle that I scaled into my full-time job

  • I never get too comfortable - I can always be learning, scaling, developing, and monetizing

There is ALWAYS. A. WAY. to learn and earn more. And every skill you learn and develop can be monetized inside or outside of the office.

3️⃣ Financial Routines & Accountability

The fortune is (and always will be) in the follow-up. Taking specific time to check in with your money, audit your budget, make changes and adjust is ESSENTIAL to long-term success.

Honestly, I don’t think I would have even known I could reach these milestones if I didn’t have a financial routine. I follow both a weekly and monthly routine, where I take dedicated time to manually (yes, MANUALLY with The Personal Finance Dashboard) track my expenses, review my spending and saving progress, and adjust / plan for the future.

I do all my expense tracking and money routines live inside the Break Your Budget Inner Circle, which is a small group of women who meet with me weekly for accountability. I’d love to see you there if you are interested (but please only join if you plan to show up!!)

WEEKLY RECOMMENDATION
Looking to monetize your skills? You need to be on LinkedIn!

My friend Courtney Johnson is the queen of LinkedIn. I took her LinkedIn cohort last summer and it’s helped me IMMENSELY with getting acclimated to the platform and learning how to post there to continue building my personal brand. If you are looking for new ways to earn money, she is a great follow!

RESOURCES
What’s Happening This Week at Break Your Budget

  • This week on Don’t Depend on Daddy: I’m sharing alllll of my time management and productivity systems and hacks and routines. This is how I balance everything from my business to my health and relationships and more. Plus, I share focus strategies that do and don’t work for me!

  • More Millionaire Habits: If you enjoyed this week’s newsletter, you’ll love this video! I share a few more habits that have made me a millionaire in my 20s! Check it out and please SUBSCRIBE!!!

LOOKING FOR MORE?
Check out ALL of my Money & Career Resources!

xoxo,

Michela