Crystal MayerSun, Jun 8, 2025, 10:06 PM 3 min readFormer financial advisor and current investing influencer Humphrey Yang is known for taking complex concepts and making them easy to understand. In a recent YouTube video, the money guru gave tips on “How To Be a Millionaire on a Low Salary.”Check Out: 6 Wealth-Destroying Mistakes People Make Every Day Without Knowing ItLearn More: Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's WhyHere are his 4 pillars of personal finance that can help you become a millionaire without a large income.The first pillar of personal finance is frugality, according to Yang. He explained that frugality is not to be confused with being cheap. Instead, he urged hopeful millionaires to think of it as “ensuring every dollar has a place.”Yang noted that since every dollar matters, he is always trying to get the best deal possible, saving where he can by using rewards apps at fast food restaurants. Furthermore, he encouraged those watching to “focus on how much you save, rather than how much you make.” In other words, a high income does not equate to wealth, since you could be spending a large portion of your money and only investing a small amount.Try These: 10 Genius Things Warren Buffett Says To Do With Your MoneyYang’s second pillar of personal finance is investing. The personal finance influencer recommended investing aggressively. He cautioned, however, that this does not necessarily mean investing in aggressive holdings with high risks and returns. Instead, he said you should be “contributing to your investments as early as possible and as much as possible.”While the idea of investing may seem overwhelming or intimidating at first, there are numerous resources available to help even the youngest aspiring millionaire get started. The Financial Industry Regulatory Authority (FINRA) recommends setting investment goals first, and then determining your investment timeline or when you will need your money. Working with a professional is strongly encouraged to ensure that you make sound investment decisions.The third pillar is time. The earlier you start, the better off you will be once you retire. It is important to note that significant gains come at the end for compound interest. More wealth is created later in life if you begin investing early. Yang pointed to famed investor Warren Buffet, who has amassed a net worth of $158 billion. According to Forbes, the 94-year-old bought his first stock at 11 years old and was filing taxes by 13.Yang credits Buffet’s massive wealth to “persistence, consistency, and living to 95,” and noted that he made “99% of his net worth after his 60th birthday.” He explained that compounding interest allowed Buffet to take the $3 billion he was worth at the age of 60 to the nearly $160 billion he has now.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,000.36 +61.06 (+1.03%)Dow 3042,762.87 +443.17 (+1.05%)Nasdaq19,529.95 +231.55 (+1.20%)Russell 20002,132.25 +34.90 (+1.66%)VIX16.77 -1.71 (-9.25%)Gold3,331.00 -15.60 (-0.47%)PortfolioSign in to access your portfolioSign inTop gainersRXRX Recursion Pharmaceuticals, Inc. 5.49 +0.92 (+20.13%)MANU Manchester United plc 16.41 +2.60 (+18.83%)QXO QXO, Inc. 19.00 +2.25 (+13.43%)QBTS D-Wave Quantum Inc. 18.62 +2.15 (+13.05%)LMND Lemonade, Inc. 39.88 +4.12 (+11.52%)Top losersLULU lululemon athletica inc. 265.27 -65.51 (-19.80%)DOCU DocuSign, Inc. 75.28 -17.62 (-18.97%)BRZE Braze, Inc. 29.73 -6.37 (-17.65%)ORLA Orla Mining Ltd. 11.11 -1.24 (-10.04%)ABM ABM Industries Incorporated 46.61 -4.65 (-9.07%)Most activeAPLD Applied Digital Corporation 13.86 +1.09 (+8.54%)TSLA Tesla, Inc. 295.14 +10.44 (+3.67%)NVDA NVIDIA Corporation 141.72 +1.73 (+1.24%)LCID Lucid Group, Inc. 2.1500 +0.0200 (+0.94%)F Ford Motor Company 10.26 +0.16 (+1.58%)Earnings eventsTrending tickersXRP-USD XRP USD 2.28 +0.09 (+4.23%)STLA Stellantis N.V. 9.87 +0.19 (+1.96%)ES=F E-Mini S&P 500 Jun 25 6,010.00 +3.25 (+0.05%)XRP-CAD XRP CAD 3.12 +0.13 (+4.23%)RBBN Ribbon Communications Inc. 3.6900 +0.1100 (+3.07%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.