By Carlo Versano

Whether you're paying off student debt, a car loan, or a cell phone bill, this father-daughter duo wants you to remember there's a "Millionaire Within," and it's your job to find it.

Such is the wisdom ー and title ー of a book by Walter Wisniewski and Allie Vanaski, the owners of Arcadia Wealth Management who are preaching their family's financial advice for millennials, which revolves around saving, saving, and more saving.

Speaking to Cheddar, Wisniewski and Vanaski outlined the four "buckets" of equity young people should strongly consider:

  • 1. Cash savings and money in the bank

  • 2. Invested assets, including IRAs or 401Ks

  • 3. Use assets, like a home or car

  • 4. Human capital, or "your power to produce"

The pair said some "financial multitasking" can go a long way in creating a workable savings plan, even if you feel hampered by crushing debt. Look at your cash flow, and allocate a little for debt (depending on what your interest rate is) a little for savings, and a little for investments. "You have to do little pieces all at the same time," Vanaski said.

We tend to separate money based on subjective criteria like where it came from, Wisniewski added. But that makes it harder to stay on track: whether it's a paycheck or a check from grandma, the source is irrelevant, according to the authors. "Save a little bit of everything you've earned," Vanaski said.

As for the stock market, there's no better time to get in then when stocks are on the dip ー like now ー especially when you're young and have a long investing horizon, Vanaski said: "We look at it as: stocks are on sale."

"The power of compounding dividends means early investments are apt to increase in value even in a turbulent market."

"Save early and don't worry about the market," Wisniewski said. In this case, saving means investing.

"Everyone has the power to become a millionaire," Vanaski added.

For full interview click here.