Kyle Taylor knows what it's like to be in — and get out of — a serious financial ditch.
In 2010, the then-24-year-old had $50,000 worth of student loans, lacked a steady job and was unsure if he could pay the next month's rent. At one point, he resorted to picking up change off of the street to buy ramen noodles.
Today, Taylor, 30, is a millionaire and the founder and CEO of The Penny Hoarder, a site that offers practical personal finance advice to millions of readers.
While Taylor follows a number of helpful personal finance guidelines, such as having weekly check-ins with yourself to review your finances and saving 50 percent of your take-home income, there's one he says can have an immediate impact.
Taylor insists there are actually ways to start saving even when you're barely making ends meet.