10 Steps You Need to Follow in Becoming a Self-Made Millionaire Of Your Family

7. Eliminate High-Interest Debt

Prioritize paying off high-interest debts such as credit cards and personal loans. Clearing these debts will free up more money for saving and investing.

8. Create an Emergency Fund

Establish a robust emergency fund to cover unexpected expenses. Aim for three to six months’ worth of living expenses in a liquid and easily accessible account.