Would you like more money and be financially free. Discover the habits of self made millionaires to see where you fit in. Most likely you already have some of these habits, but with a few simple tweaks here and there you could unlock a whole new world.
Below, you will see some simple (or not so simple depending on your situation) things self-made millionaire do that get bring them so much success.
They have patience
Most millionaires didn’t achieve success overnight. They know there aren’t any get-rich-quick schemes that work in the long term. They make plans to insure the have money in the future.
They have a different mindset than poor people
I heard somewhere if you gave everyone an equal amount of money, over time everyone would end up in the same position they are currently in.
If everyone started over with the same baseline, in the end, rich people would have money and poor people would be poor again. The different mindsets are why you see cases where people win the lottery and then years later they are flat broke.
Those people have a poverty or mediocre mentality.
Fear doesn’t get in their way
Self made millionaires make decisive decisions quickly. When they see something they want they go after it without the fear of failure. If they fail they make corrections and move on.
People that don’t face their fears will think about their failures without making corrections. Failure doesn’t scare people with an abundant mindset.
They read a lot
Self-made millionaires have a great habit of reading. They read books for personal development. Most will read more than 2 books a month and many of them read a book a week.
They understand that they need to consistently improve their knowledge.
They avoid bad debt
They are great manager of debt. They understand there is good debt and bad dept. Bad dept would be money owed on high interest credit cards, whereas good debt would be things like a bank note on a rental property.
They either pay cash for things or use loans that have a low interest rate. I’m sure you remember your parents saying “never buy anything you can’t pay for up front”.
They have clear short term and long term goals
They have goals for every aspect of their lives. They set goals for health and wellness, financial, relationship and business goals. They make plans to accomplish something of every day.
It is important to have a plan of action so you don’t wander around in the nothingness.
They have a strict monthly budget and stick to it
It is important to have a monthly budget, but it takes practice to stick to it. Most of us do this, however we don’t do it the right way. We may have a clear budget in our own minds of what we can and can’t afford, but his isn’t good enough to get to the next level.
Budgets need to be written down and planned carefully. Start with a monthly budget and break it down to weekly if you must.
Find a mentor or coach
Rich people all have mentors or coaches. They might be someone they know directly, or they are other successful people that they study.
Find someone that is already where you want to go in life and figure out how they got there. See the mistakes they made along the way and avoid them.
Their passion is their business
Millionaires have passion for the type of business they are in. You have heard it before “find a job you love and never work another day in your life”.
Take your passion and make a business out of it. A true passion will keep you involved with your work. You will always try to aspire to something greater. Focus on working on things that make you happy.
Multiple sources of income
People that have a lot of money know how to make their money work for them. They have multiple sources of income. They are always looking for new opportunities to make and save more money.
These opportunities seem to just show up for them. Why? Because they have the mindset to be looking for them. Our brains can’t see anything we are not looking for.
They actively seek ways of making passive income.
They own businesses
Rich people own business. They may have a boss for something they do, but ultimately they are the owner of one or more businesses.
They have the mindset owning a business that makes them money. This money is turned into money that works for them to make more money.
Self made millionaires have a different mindset than the average person. They have developed patience and have the faith that they will achieve their dreams. They are always seeking knowledge and managing their money effectively.
They find new opportunities for growth and expect abundance to flow from them.
Becoming a self-made millionaire requires a certain attitude and a lot of hard work. My question is, if we are going to work hard anyway, why not adopt some habits that can give us something real from all that hard work?
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Where you take it from there all depends on what mindset you have decided to develop. A mindset of abundance or lack. The choice is yours and no one can make up your mind for you.