The idea of becoming a millionaire is not only a pipe dream. More than half of millionaires, according to statistics, are self-made. Even though the lessons we may learn from them won’t make us instantly rich, they are definitely worth hearing.

To help you go a little bit closer to realising your ambition of being extremely wealthy, we have compiled some of the wisest proverbs about earning, saving, and investing money.

9. The formula is 50/30/20.

This principle can be applied to budget management. Your income is expected to be divided into three categories:

The first category is necessities for daily life. 50% should be set aside for regular costs like rent, utilities, groceries, transit, etc. Personal spending makes up the second group. It implies that you are free to spend up to 30% of your income on hobbies, shopping, entertainment, and other pleasurable pursuits. The final group is savings. Your 20% should be transferred immediately to the bank. Follow the guidance provided here by self-made billionaire Grant Cardone. “Invest your savings in safe, holy (untouchable) accounts. Never, not even in an emergency, use these accounts. I am still broke at least twice a year because I always invest my surpluses in businesses that I am unable to access. Cardone, Grant