Becoming a millionaire is not a rocket science and the fact remains that, everyone can become a millionaire. Most of the world’s celebrated humans aren’t super humans which means you too can become one and live a life of abundance where everyday is christmast. These five habits listed below will set you on a fast track TO A WORLD OF FINANCIAL FREEDOM.
When you want to be a millionaire or achieve something great in your life, you constantly have to learn. Reading feeds your brain with information and helps you to see things clearly.
Warren Buffett reads 5 to 6 hours everyday.
Bill Gates reads 50 books a year.
Mark Cuban reads more than 3 hours almost everyday.
Reading improves mental ability. Read Finance, Economics, Business, Human Nature, Psychology, Health, Productivity, Biographies, Science. Read voraciously. Have a reading habit.
When you’re young you can invest your time well by reading books and gaining knowledge. Read at least 30 mins a day. Read anything and everything you get your hand on.
Learn new skills
Along with reading, one must invest their time in learning new things. Learning a new language, learning coding, programming, graphic designing etc will help you in long run. When you learn new things, the horizon of your brain expands, and it acts better.
Attend seminars, webinars, listen to podcasts. Learn to interact and use technology.
The most basic yet important things you should learn is: selling and negotiating.
You’re supposed to be an entrepreneur in your life. So you must learn these skills.
Invest in Health
A healthy body is important in an wealthy journey. It means, you must take good care of yourself. When you overlook your health, chances are there it will be deteriorated. You might not be as productive as a healthy man.
Along with right diet, it is also important to exercise everyday. Exercise, do yoga, meditate.
And, most importantly, at least sleep 6-7 hours. Working 20 hours a day won’t make you a millionaire in 1 month. But it will definitely worsen your health.
Nurture your mind and body.
Your body is your supercar. If you maintain it well, it will perform wonderfully.
Have a positive mindset about money
What you think about consistently has a direct impact in your life. If you always stay positive, you will attract wealth and happiness. If you’ll remain negative, you’ll attract misery.
See good things in everything. Stay positive and optimistic.
Visualize your success, your entrepreneurship journey. Before you could accumulate riches, you’ve to feel it.
To be a millionaire, you’ve to think like a millionaire. You can’t just complain and say: I don’t have this, I don’t have that. You’ve to create that opportunity for yourself.
Remember, mindset plays a big role in one’s life
What you think, you become.
What you feel, you attract.
What you imagine, you create.
Have money goals
You can’t just tell yourself that, ‘Okay, I’ll be a millionaire.’ and you will be. You’ve to have a clear goal.
Give a deadline to your dream to make it a goal. Giving a deadline to dream pushes you to work on your goals.
Instead of saying, ‘I’ll be a millionaire’, say ‘I’ll be a millionaire in July 2023’.
It’s very important to have money goals as it requires continuous investment and effort over a longer period of time.
Always have a plan
When you give your dreams a deadline, it becomes a goal. To achieve that goal, you must have a definite plan. Write down your step by step plan in a paper or your computer.
It’s better to write it on a piece of paper and to place it somewhere, where you can see it everyday.
When you see your plan every single day, it stimulates your brain to work hard.
Once a plan is established, working on it becomes easier. Make that a habit and slowly put everything on autopilot.
Focus on multiple streams of income
Increase the number of streams of income to gain more wealth. A single source most likely won’t make you wealthy.
Imagine, you’re dependent on only one income stream and due to certain reasons, that source is going to stop generate money. Now? Forget about riding a Lamborghini, it will be difficult for you to pay your bills.
An average millionaire have 7 sources of income.
Never depend on single income. Make investment to create a second source. ~ Warren Buffett
Hangout with high achievers
You’re the average of five people you spend most time with. In order to grow in your life, hangout with people who have achieved something great in their life.
It is a waste of time to give all your time to those who don’t provide value to you. If they don’t have any clear goals in their life, they can’t help you in in building your empire.
The idea is to get surrounded by high achievers. To become a master in one field, you’ve to surround yourself with the masters in that particular field.
Andrew Carnegie, gives all the credits to one principle: The Master Mind.
‘In most cases, your net worth mirrors the level of your closest friends.’ says self made millionaire Steve Siebold.
‘It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.’ says Warren Buffett.
Save to invest
Don’t just save to save, save to invest. Your savings will be evaporated. The way inflation is going up, it will end up all your savings.
’The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access.’ writes Grant Cardone.
Saving money is great, but making the most of your savings is even better.
Take calculated risks
As an aspiring millionaire, you must learn to take risks.
Calculated risks involve a fair amount of research. Grab a piece of pen and paper and write down the pros and cons of those risks. If pros are more, it makes sense to take that risk.
The biggest risk is not taking any risk… In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks. ~ Mark Zuckerberg
You must learn how, when and where to risk. Say ‘NO’ to foolish risks, and ‘YES’ to calculated risks.
Start a Business
If you want to be rich, you must consider starting a business. You’re less likely to be a wealthy person if you live paycheck to paycheck. Starting a business will give you more money and freedom.
It is the fastest way to become rich where you will write your own paycheck instead of awaiting one.
When you start your own business, you have the opportunity to earn an unlimited income based on your own efforts.
However, it requires a strong plan and so much more hard work, determination, persistence and resilience.
More the number of your business, more riches you could accumulate.
When you’ll have a steady business, you’ll be proud of yourself and your hard work. You might think, you’re well settled and your life is sorted out, but wait. Will you go that far, just to go to that far?
Avoiding temptation that’s standing right in front of you is difficult. But remember, it’s wise to avoid better for the best. It’s better to ride a Ferrari after five years than to get settled with a Volkswagen now.
If you could gain self control over yourself and the distractions by delaying gratification, you’re likely to win in every aspects of life.
Don’t settle for good. Keep hustling for the best.