There is something unique in the way that millionaires think. This ‘mindset’ helps make them more money. Having such a mindset can be life-changing.
If you want to make more money, start with these six mindset secrets of millionaires.
1. Do
Stop hoping, stop thinking, stop just planning, and actually do something. Millionaires are doers.
They work on their ideas and on their plans. This is a very important trait to have if you want to be a millionaire.
A wealth empire is not just gonna fall not your lap fully functioning. It will take work and YOU will have to do that work.
So, stop pining over the fact that you are not yet a millionaire and start doing something.
2. Set Long Term Goals
Don’t only think about the present, think of the future as well. Set goals that can span years or decades. Look ahead and have clear goals of where you want to be in the future.
Why does this work for millionaires? It does so because long term goals force you to deal with questions like, ‘how can I double my income for the next few years’, instead of ‘how can I pay the light bill next month’.
Millionaires are often willing to give up short term conveniences for long term financial ease. Stop falling for the trap of instant gratification.
3. Keep Learning
Millionaires never stop learning. Every new lesson or skill learned is turned into an opportunity to make money. Many live by the adage, ‘The more you learn, the more you will earn.’
Keep improving yourself. Take classes and always be open to learning new skills. Read as much as you can as well.
Some of the most famous millionaires in the world – Elon Musk, Oprah Winfrey, Mark Zuckerberg, etc., have professed their love of reading.
Not just any book of course, read books that will help widen your understanding of the world.
Read biographies by millionaires and try applying the lessons they teach to your own life.
4. Don’t ‘Save’ Money
I will start this section with – Yes, you need an emergency fund. Ideally, it should be enough to allow you to pay your bills for at least 6 months if ever you find yourself in financial trouble.
But, don’t save your money for the sake of ‘saving’. Invest your money instead. Don’t let it sit in your bank, earning very little interest.
If investing scares you, you can start with investing in some low risk options. Buy Mutual Funds or buy stocks in blue-chip companies that have a good track record.
Keep in mind though that low risk often leads to low returns. But, at least you are not letting your money just sit in the bank.
5. Focus on Actually Being Wealthy Rather Than Looking Wealthy
This does not mean that you don’t have to look presentable, but don’t go broke doing so. Instead of getting caught in the trappings of wealth, the sports car, the expensive phones, the big mansions, etc., focus instead on growing your wealth.
Avoid spending your money on things that will not earn you any returns.
Be practical in your spending and do not spend to impress other people. Look at some of your favorite millionaires, I am sure that many of them live fairly frugal lifestyles and follow a budget.
6. You are not your Circumstances
It is easy to fall into the trap of thinking that you have the life you have because of the circumstances you are dealt with.
This is a myth and if if you believe this, then you should definitely change the way you think.
Don’t play the blame game. If you don’t like how something is, then work to change it. Create your own opportunities.
“Fortune sides with him who dares.”
― Virgil
Everyone aspires to be wealthy…
And there’s a reason why.
The freedom that money can give you can be fascinating.
The ability to not worry about the bills…
The ability to travel…
The ability to finance your business ideas…
It’s very promising.
You’ll be able to fund your children’s education. You’ll be able to support, give, and provide.
But how do you start your path to overflowing wealth?
Here are 11 tips to give you ideas.
Before we begin, you may want to check out Overflowing Wealth program right here: [Link this to https://dreamlifetrack.com/aff/owc/YourIDHere/YourTracking]
11 Tips to Become Overflowing With Wealth
1. Learn from those who have already achieved the level of wealth you want to achieve.
Ask yourself, who are you learning from? Are they financially successful people?
What are the pieces of advice that you are often receiving and following?
Every answer here can make or break your chances of financial success.
Make sure to only follow the advice of people with credentials…
Or people who are in a position you want to be in.
Because only they can give you advice that would work…
Because they have experienced what you’re experiencing. And they found the solutions to your problems.
2. Take care of well-meaning advice
Following up on my first tip…
We often hear our relatives, parents, friends, etc. giving us financial advice.
While they really care about us… They’re not really in a position to give such advice.
If they are, why aren’t they wealthy?
I don’t mean to disrespect, and you shouldn’t too. Appreciate their concern, but you should know better.
Learn how to discern. Decide for yourself which of the advice that you’re receiving…
Are actually going to help you.
3. Learn how to invest. Including investments in yourself.
Find an investment vehicle and master it. The stock market, bonds, mutual funds, etc.
One thing I want to say though is that investing is not trading. Investments are when you let your money grow more than bank’s rates…
Therefore, beating inflation.
This can be for your retirement fund...
So start now.
Aside from that, learn how to invest in yourself.
I’m talking about buying books that you’re interested in…
Or enrolling in courses that would make you more money…
Or investing time to learn new skills that can be useful…
All of these can have a potential Return on Investment.
And the knowledge and the value that you’ll give yourself will pay for itself in the long run.
4. Have a wealth pathway, a blueprint.
This one is important. You need to have a ‘vehicle’ to take you to your goals.
What’s a wealth pathway or wealth blueprint?
This can be a business model or a niche.
For example, affiliate marketing, or e-commerce. This can also be Forex Trading…
Or a brick and mortar business, like a restaurant or coffee shop.
Whatever it is, you should master how it works.
If it’s a restaurant, try being an employee of one first. If it’s an online business model, try enrolling on a course first so you can learn how things work.
Other examples include real estate, freelancing, and dropshipping.
5. Find a mentor, virtual or real.
After you have chosen your field, find a master, then be a student.,
This can be the teacher on the online course you enrolled in.,
Or an author on the field.,
Whoever it is, and it whatever way, learn from them.,
From their books, audiobooks, podcasts, seminars, webinars, etc. Soak them all up.,
Even the greatest was once a student, and they are always a student.,
Which leads me to my next point…,
6. Keep learning, be a perpetual student.
You’ll get to the point where you know enough to execute. But you won’t reach the stars if you’ll take your feet off the ground.
Don’t be the smartest guy in the room. Always be learning. You might be able to surpass your first mentor, get a second one. Get more mentors.
In whatever way, always be learning.
7. Try to make the most of your time, avoid procrastination.
Now that you have a blueprint and a mentor.
It’s now time to practice your discipline and be productive.
Avoid procrastination. Make sure that you’re making the most of your time.
Whether it’s studying a course, reviewing materials, or reading a book.
It’s time invested on your part which will be worth it in the future.
8. Find where your passion, purpose, and potential income overlaps, and do that.
This is ideal, so try to do this.
There’s something that you can make money from, which you enjoy, and serves your purpose while you’re alive.
That’s the best thing to dedicate your life to.
9. Focus on providing value to people, not making money.
The value you provide your people equals the money you’re making.
If you’re all about their money, without giving value in return, you’ll find it very difficult to succeed.
Focus on giving value, the money will follow.
Always try to overdeliver.
10. Save up an emergency fund.
I mentioned that money in the bank will decrease in value because of inflation.
But your emergency fund should be in the bank…
So you can withdraw anytime you want to.
The suggestion is to have your monthly salary multiplied by 6, should be your emergency fund. Build it together with your retirement fund…
And your financial house will be stronger and safer.
11. Learn to spend wisely
Finally, learn to spend wisely.
Not because it’s on sale, you need to buy it.
One tip I can give you regarding this is to eat before going to the groceries. So you won’t feel hungry and buy more than what’s on the list.
If you can’t stop yourself from buying clothes, for example, then don’t window shop.
Don’t forget to check out Overflowing Wealth program right here [Link this to https://dreamlifetrack.com/aff/owc/YourIDHere/YourTracking]