So, you want to be a millionaire, eh? Who doesn’t? Having that much money would give you great freedom everyone in the world desires. You wouldn’t have to work only to earn enough money to pay the bills. Instead, you would be earning money which you could spend on things people dream about. Or, since you would be a millionaire, why would you have to work at all? But, before you start thinking what do you want to do with the money you currently don’t have, read these tips. Hopefully, they will be your springboard to your first million dollars.
Guaranteed Ways To Become A Millionaire
Create Multiple Streams of Income
No rich man depends on only one source of incomes. Instead, they have multiple streams of revenue coming in through their business, their blog, or even the property they invested in. Find things you are good at, and start creating a plan to increase your revenue through multiple sources. For example, you may start selling handmade jewelry, do some freelancing, have a daytime job, and earn money by writing sweet poems on your personal blog.
Be More Frugal
Millionaires wouldn’t get to where they are if they were spending money on unnecessary things. You need to learn how to keep your money in the bank. Of course, you can spend some of it on yourself. However, you can spend the rest on assets with a high return on investment. And, speaking about investments…
Save to Invest
A millionaire’s worth is not only calculated in the sum of money they have plus the things they own. Of course, this count too. But, the true worth of a millionaire is calculated based on the worth of their assets – the things that make them money. Millionaires do not become millionaires by saving; they become ones by investing.
Of course, saving money is smart and it can pay off. But, investing in something that will make you more money will definitely pay off more. In order to gain from money, you must invest it.
Invest In Yourself
Investing in a business or in a building is smart and pays off. But, bad things happen. What if you get sued or your business goes out of work? If you depend on your assets, when they go down, you go down with them. But, investing in yourself, your knowledge, and your mind will never go away. If you have knowledge about building a business, you will be prepared to start from scratch if things go south. Rule number one – never stop learning. Invest some of your savings in books, seminars, and courses.
Stop Making Someone Else Rich
Every day you spend eight hours at work to earn that paycheck. Sure, that is not bad. But, while you are earning those small amounts the business you are working for is making thousands. Keep your job until you have enough money to start your own business. Then, you can stop making someone else rich.
Set Goals And Review Them Often
The biggest trick of how to accomplish anything is writing your goals down. It is not the same when you have something in your head you may forget about and when you have something written on a piece of paper that will keep reminding you what to do. Write down your goal and beneath it smaller steps that will help you accomplish it. Review your progress every day and make sure to stay on track.
Friend or Foe?
People don’t say “You are who your friends are” for no reason. The people you hang out with definitely have a large influence. If you are constantly around a passive person who won’t stop complaining, you will become one too. Instead, surround yourself with ambitious achievers who know how to make money. But, never forget about your old friends.
Learn to Speak Money
You can’t expect to have a lot of money if you do not know a single thing about it. Accounting courses will definitely give you more insight on this matter and help you become a millionaire along the way.
Readers Are Leaders
Or is it “Leaders are readers”? Have you heard of Warren Buffet? There are two things you need to know about him. The first one is that he is filthy rich. The second one is that he spends at least eight hours on reading every day. Buffet even runs a book club with Bill Gates. If you don’t know where to start, check out Tai Lopez’s book list.
Think Big, Think Positive
If you keep having negative thoughts, you will be surrounded by negativity and that will lead to no good. Keep the glass-is-half-full attitude and do not forget to think big. Shoot for the moon – even if you miss you will land among the stars. Taking risks will definitely pay off, one way or another.
