rewrite this title and make it good for SEOAlmost every millionaire in America has these 5 things. You may have most of them already — maybe all of them

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It may not surprise you that most millionaires have attended college, with 88% having a degree compared to 38% of the general population, per Ramsey Solutions. But most don’t hold degrees from fancy private schools.

Ramsey Solutions found that only 8% of millionaires attended prestigious private colleges. Meanwhile, 62% graduated from a public state school.

Attending a less expensive college could help you start adulthood with far less debt, and the less money you’re paying toward student loans, the more you’ll have to invest.

Investing is one of the best ways to grow your money.

Ramsey Solutions’ survey found that 80% of millionaires invested in their employer’s 401(k) plan. Doing so could be a great way to become a millionaire on an average salary.

Say you contribute $350 a month to a 401(k) plan over a 40-year period. At a yearly 8% return, you’re looking at accumulating nearly $1.1 million while only contributing $168,000.

Best of all, you don’t need to be an investing genius to grow your 401(k). Simply invest in an S&P 500 index fund, which allows you to own the 500 largest publicly traded companies in the U.S.

Another pro 401(k) tip? Take advantage of your employer match every year, if you have one available. That’s free money you can invest in your retirement.

Credit cards can be helpful, but carrying a balance can become an instant wealth-zapper due to the high interest rates.

Most millionaires pay their credit cards in full every month. In fact, Ramsey Solutions found that nearly 75% have never carried a credit card balance in their lives. This isn’t to say you should cut up your credit cards and never use them.

Charging everyday expenses on a credit card is a great way to earn valuable travelor cash back rewards. Just make sure to pay those balances in full every month so you don’t lose money to interest, money you could be investing to become a millionaire.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.