Becoming a millionaire is not just an unrealistic dream. Statistics show that more than half a million people are such, and they themselves have earned a fortune. The lessons we hear from them do not guarantee that we will receive the status of millionaires, but they should be learned.
My friend in secret told how you can get rich. Her tips for making money, saving and investing money will surely help you get closer to your dream of becoming financially independent.
Useful Money Distribution Rule
You can use this policy to control your budget. Divide your income into three categories:
The first category includes basic necessities - rent, transport, duties, groceries.
The second category is your personal expenses. 30% of your income will be made up of such items as entertainment, hobbies, and all that makes you happy.
The last category is savings. Put 20% of your money into your account immediately.
Wholesale Shopping
Least of all is this advice you expect from a millionaire. However, we can all agree that when we buy in bulk, we save. It is mainly about products.
It is better to buy toothpaste two years in advance if it costs 50% lower. This is an ongoing refund that saves you money that you can immediately put in your pocket.
Do not use credit cards
If you have a credit card in your wallet, you immediately have a need to buy, but can you afford it? Using a credit card while shopping means that you want to spend what you don’t have. Moreover, high interest makes your purchase even more expensive.
Try to buy from the manufacturer
Before you buy something in a store, ask yourself: “Can I buy it directly?” Often you may find that you can get the goods at a lower price. If the price is valid only for a certain order amount, invite your friends to buy together.
If you do not spend money, then in fact you earn it
The less money you spend, the more you will have. This is an obvious conclusion. Buy with a rational calculation. In order not to make impulsive purchases, ask yourself the following questions before each purchase: “Is this really necessary? What happens if I don’t buy it? ”
Live below your abilities
The biggest problem for most people is that they earn little and spend a lot. The only way to increase the budget is to live below your income level. Often people buy beautiful homes in beautiful places to impress others. But think only about yourself and your benefit.
“I did not buy a luxury watch or car until my work and investments increased my capital several times. I was still driving my old sedan when I became a millionaire. Be popular with your business ethics, not with the clothes you buy, ”said Grant Cardon.
Start creating passive income.
Most people who never get rich work hard for the meager salary. In this case, their time is equal to their money.
Millionaires make their money work for them. Time has a high value, much more than money. Therefore, it is important to create passive sources of income.
“Is it possible to save a million dollars? It is, but you must be extremely disciplined. Sometimes you have to take risks. This is part of the risk, but you can put money into a low-budget joint fund, ”said Mark Kuban.
Be surrounded by successful people
It is easy to explain how many people around you influence your life and mindset.If you surround yourself with successful people who share your vision, it will be easier for you to receive and implement creative ideas. Surround yourself with personalities that not only inspire you, but also encourage you to dream more.
"Usually your net worth shows the level of your closest friends." A company of people who are more successful than you will make you accept new ways of thinking and increase your income. “As a rule, millionaires think differently than the middle class, and you can learn a lot from them,” said Steve Siebold, a “home-made” multimillionaire and author of the book “What the Rich Think”.
Happiness is not only about money
Of course, money is a very important factor. However, not everything is in them. You can buy a house where you will live, but you cannot buy a family.
Money improves the quality of life. However, nothing can compare with the support of family and friends, with health and happiness.
“For the sake of money, don’t sacrifice important things. I lost a few friends and ruined some relationships because I worked too hard, even on weekends. Although having money means freedom, money is actually a tool that allows us to gain life experience, ”said Grant Sabati.
To be honest, you will not get rich only from these rules and recommendations. However, creating the right financial habits is an important step towards success. And only your attitude can become a hindrance to him.
