How to Become a Millionaire (or at least a thousandaire)

By Stephanie Dawe

      Today, women account for 52% of the world's population and influence 75% of all purchases. Women worldwide represent the main source of income for 30% of homes, and 48% of female workers contribute half, or more than half, of the household income. Yet, for every one woman millionaire there are four men to rain on their parades. Why is that? From childhood we are taught from fairytales like Cinderella that men are the money makers and women are the booty shakers, so to speak. Through adulthood, shows like "Who Wants to Marry a Millionaire" give us the idea that catching the man means catching the cash.

Good news, you don't have to become a gold digger to strike it rich. A quarter of all millionaires are women and maybe you can help raise that number. Save five dollars a day for the next 41 years and voila, you're a millionaire. It's easier than you think. The money spent on a coffee and treat usually adds up to at least five bucks a day. By giving up the restaurant lunches, you will save around $200 a month, which amounts to more than five dollars a day. Here are a few tips that will help you gain more of what you want, money!

Get organized: Set up a budget, you'll figure out where all your money is going and where you can cut back a little. Until you know what's going on there's nothing you can do about it.

Spend less, make more: It sounds so obvious, but it's the reason we're not all millionaires. Once you've accomplished step one and seen how much you actually waste, it'll be easier to spend less. Looking good will get you nowhere if you're broke.

Open a checking account in your name: Establishing credit now is crucial for a financially secure future.

Protect your credit: Always pay off your credit cards on time, no matter what.

Learn the difference between a want and need: Before you buy an item think, is that new DVD or magazine a need? What about that gym membership, club renewal or those cute little black heels (definitely a need)? Be ruthless, where possible.

Free is good: Cutting coupons is a great way to save a few bucks, every penny saved is a penny closer to your first million!

Make sure your money is working for you, not against you: If you charged $2000 on a credit card at 19.8% interest and only paid the minimum payment each month (which most do) it would take 31 years to pay it off!

Cancel your cable: It's not a need, it will save you around $50 a month.

Cool off: Lowering your thermostat a few degress can save you $25-55 a month.

Got an idea, turn it into cash: That cuticle cream you've concocted or that special cold and cough mixture you brew up each winter could be a goldmine waiting to happen. If it works for you and you love it, try giving samples to others (just make sure no one has any known allergies to any of the ingredients first) like friends and family and get some feedback. Your crazy homemade creams could be worth millions. Victoria Knight-McDowell, a teacher, came up with her own cure for the common cold, right from her house (which includes Vitamin A, C, and E, and seven herbal extracts among other secret ingredients) called Airbourne, and by 2004 her concoction had revenue of $24 million!

Find out what kind of spender you really are with this true or false quiz.

1) If asked how much money you have in your bank account right now, you would know? T/F
2) You pay off all your credit card bills in full and on time? T/F
3) When you save money on one thing you stash it, instead of splurging on something else? T/F
4) You keep track of your savings and spending? T/F
5) You have a budget and stick to it? T/F
6) When you see something you like, you stop and think, do I really need this? T/F
7) You rarely purchase things you don't use? T/F
8) Your monthly spending is less than your income? T/F
9) Your bank and credit card statements are never a surprise? T/F

If you answered 6 or more questions true then you are well on your way to riches, but if you answered more than 3 questions false then your finances need some attention.