How to Become a Millionaire Before You Hit 30

Can you really become a millionaire before turning 30? Yes, and more people are doing it than ever before. From digital entrepreneurs to savvy investors, young millionaires are proving that age doesn’t matter when you have the right strategy. 

Did you know that some of today’s millionaires started with less than $500 in their bank accounts? 

Thanks to the internet, side hustles, investing apps, and personal finance education, how to become a millionaire by 30 is no longer a fantasy; it’s a choice.

Ben Francis, the British entrepreneur who started Gymshark in his bedroom when he was just 19. By the time he was 25, he had already made millions through smart branding, e-commerce, and sheer consistency. Another example is Grace Beverley, who built fitness and sustainable lifestyle brands before turning 30, becoming a self-made millionaire through her social media presence and business ideas.

So, how did they do it,  and how can you? Let’s break it down step by step.

Set a Clear Financial Goal Early

If you want to become a millionaire by 30, you must start with a clear goal. This might seem simple, but most people never take this first step.

You need to define exactly what you want to achieve. Ask yourself:

• How much do I need to save or earn each year?
• How many income streams do I need?
• What kind of investments should I make?

Let’s imagine you’re 20 years old and want to become a millionaire by 30. To hit this goal, you would need to build $100,000 every year for the next 10 years. While this sounds like a huge sum, when you break it down monthly, it becomes $8,300 a month. This is achievable by combining multiple sources of income. Set a specific number, write it down, and track your progress each month. Remember, consistency and goal-setting are key.

Live cheap, save aggressively

You won’t become a millionaire by spending like one. In your 20s, the smartest thing you can do is live below your means. That doesn’t mean living miserably; it simply means choosing wisely and cutting out expenses that don’t add long-term value.

Consider sharing a flat rather than renting one on your own, which reduces housing costs significantly. If possible, avoid car loans,  public transport or buying a second-hand vehicle will save thousands. Cooking at home instead of eating out can cut monthly costs drastically, and cancelling subscriptions you barely use keeps your budget clean.

If you’re able to save 50–70% of your income during your early years, you’re building a solid financial base. Many young millionaires say learning how to save was the most important lesson they picked up on the journey of how to become a millionaire.

Master a high-income skill

To hit big money goals, you need to develop a skill that pays. This could be coding, copywriting, digital marketing, sales, or running online ads. High-income skills can earn you $5,000–$10,000 a month within 1–2 years if you focus and practise.

There are many online platforms, such as:

• YouTube
• Skillshare
• Udemy
• Coursera

These offer free or low-cost training in a variety of fields. Choose one skill, master it, and then start freelancing or offering your services online.

Many millionaires under 30 mastered a single high-income skill, used it to earn more money, and then invested the profits. By offering value and solving problems, you’re on the path to how to become a millionaire, with your skill as a tool for growth.

Start a side hustle or online business

Your job might pay your rent, but your side hustle will build your future. The internet has opened the door to endless possibilities when it comes to making money outside your 9-to-5 job. You can launch a dropshipping store, build a blog, start a small agency, or create digital products that sell while you sleep.

For example, many young entrepreneurs have found success by selling products on platforms like Etsy, Amazon, or Shopify. Others offer services,  from design to writing or SEO, through platforms like Fiverr and Upwork. Some grow their personal brand on YouTube, Instagram, or LinkedIn, turning followers into customers.

People like Steven Bartlett, who founded Social Chain, began their journey by building side businesses in their early 20s. If you can grow your side hustle to make even USD 3,000 per month and invest most of it, you're already ahead of the curve.

Invest like your life depends on it

While saving is crucial, investing is essential if you want to reach millionaire status by 30. Your money needs to work for you while you sleep.

Here are some of the best places to invest:

• The stock market (consider S&P 500 or index funds).
• Real estate (REITs or property crowdfunding).
• Cryptocurrency (only a small percentage, after proper research).
• Your own business (reinvest in your ventures).

Let’s say you invest $1,000 a month in a fund that earns an average of 10% yearly. In 10 years, you’ll have approximately $200,000–$250,000, without much additional effort. The earlier you start, the more your wealth will grow. Young millionaires often credit early investments as the key to their financial freedom. So, the secret to how to become a millionaire is turning small amounts of money into big results through time and compound growth.

Build multiple streams of income

One job, one source of income, that’s risky. Most millionaires under 30 have 3–5 income streams, including both active (such as freelancing) and passive (like rental income or online products).

Common income streams include:

• A job, internship, or freelancing.
• A side hustle or business.
• Investments (dividends, stocks).
• Affiliate marketing.
• Online courses or books.

Each additional income stream speeds up your progress. Earning $500–$1,000 a month from two or three different sources can dramatically improve your financial situation.

Start small and grow over time; don’t wait for the perfect time. The sooner you diversify your income sources, the closer you'll be to your goal of becoming a millionaire.

Learn from other Millionaires

You don’t need to reinvent the wheel. Success leaves clues; follow those who have already achieved what you’re aiming for.

Here are some people to follow:

• Ali Abdaal (productivity + business).
• Alex Hormozi (sales + entrepreneurship).
• Ben Francis (Gymshark).
• Marie Forleo (online business).
• Graham Stephan (real estate + YouTube).

Books to read:

• The Millionaire Fastlane by MJ DeMarco.
• Rich Dad Poor Dad by Robert Kiyosaki.
• The Psychology of Money by Morgan Housel.

Listen to podcasts, join communities, and always keep learning. That’s how to become a millionaire,  by learning directly from those who have already succeeded.

Track every dollar

What gets measured gets improved. Millionaires track their money carefully — they know exactly how much they earn, spend, invest, and save. You should do the same.

There are many helpful tools out there, such as YNAB (You Need A Budget), Mint, Notion, or even simple Excel or Google Sheets templates. Tracking helps you make smarter decisions and spot patterns that either help or harm your finances.

Be sure to monitor your income, monthly expenses, investment performance, and net worth regularly. When you see the numbers improve, it keeps you motivated. This is one of the most powerful habits in mastering how to become a millionaire, because it puts you in control.

Stay focused, not flashy

One of the biggest traps for people in their 20s is trying to look rich instead of becoming rich. That means avoiding unnecessary spending on things that don’t actually improve your life or help you grow.

Say no to buying the newest phone every year or splurging on designer brands just to impress others. Skip expensive nights out if they mess up your budget. Focus instead on your goals, skills, and future. When you're truly wealthy, you won’t need to prove it.

Remember: staying focused, not flashy, is one of the most underrated steps in how to become a millionaire. The discipline you build now will stay with you for life.

The best time to start building wealth was yesterday. The second-best time is today. It’s easy to feel behind or unprepared, but the truth is, most people never even start. If you're reading this, you're already ahead.

Start small. Choose one idea to try. Make your first investment, even if it’s only USD 100. Pick a book and start reading. Choose one high-income skill and begin learning. Set a weekly savings target and stick to it. You don’t need to do everything at once,  just something, every day.

Momentum builds with time. Whether you’re 21, 24, or 27, how to become a millionaire is possible if you start now and stay consistent.