FOR MOST people becoming a millionaire seems out of reach but what if someone could show you that it was entirely possible?
Passive income: Expert on making money when you’re not working
A mum from Glasgow has spoken about how you don’t need to rely on winning the lottery or a large inheritance windfall to become rich. Speaking exclusively to Express.co.uk , the entrepreneur shared her tips on how to make £1million in just ten years.
When 40-year-old mum Jennifer Kempson isn’t running around after her five boys, she’s recording videos for her YouTube channel on budgeting, savings and investments.
She started MamaFurfur after paying off £24,000 worth of debt and teaching herself how to make money from investments.
Jennifer explained: “I started to devour every debt management and investment blog and I realised there weren’t a lot of UK based people on YouTube.
“So I just decided to pick up a camera and start sharing things I’d learnt to help other people.” Now that their debt days are behind them, Jennifer and her husband are concentrating on making £1million, something she believes is possible with the right mindset.
She said: “You have to come at it with the intention that it could be possible for you.”On her YouTube Channel which has amassed 91,000 followers, the expert recommends investing in low-cost index funds or in a pension and talks about a theory called “Dollar Cost Averaging”.Jennifer explained: “By purchasing the stock in smaller amounts over regular intervals we can minimise the fluctuation of our stock in the long term – it should smooth out to a steady price.”The entrepreneur says the hardest part is leaving the money where it is without succumbing to the temptation to withdraw it.Jennifer reveals that the principle of the number 72 is vital to understand as well as how […]
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