How to Become a Millionaire: 15 Wealth Habits that will Set you Free
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Millionaire. That word means so many things to so many people. Is it in your destiny to reach this milestone? Is it even possible? While I’m not going to pretend to be there (yet) I do think that there is a great possibility that anyone can achieve this goal. In this post, I will let you know some tried and true ways that people have made their millions, and the habits that all millionaires have developed to create their fortunes.
Jump to the 15 Millionaire Traits
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How to Become a Millionaire
How to Attract Wealth: Save Save Save
No matter how much you make, you are going to want to budget in some savings. Paying yourself 10% to save for emergencies or investing is a wise move that will end up giving you a lot of control in the future.
Not only will you gain peace of mind with this saved cash, but you will also feel a sense of accomplishment and pride when you think about your money. No longer will you be scared of running out of money or worried about the emergencies that could happen.
Make friends with Money
What is your relationship with money? If it was a person, would it says it loves you? Or do you say bad things about it behind it’s back? Money is an energy force and a lot of people have bad associations with it.
Do you think money is dirty or evil? Or do you appreciate what it does for you? To dive deeper into your relationship with money and learn how to call it to you instead of repealing it, I would recommend “You are a Badass at Making Money” by Jen Sincero.
Invest your Money to make it Grow
The easiest way to become a millionaire is to invest in your companies 401k or a Roth IRA and watch the money compound and grow. The earlier you start the better to take advantage of the magic of compounding. However, it is never too late. I would recommend a talk with a financial planner who can crunch some numbers and give you a solid plan of how you can reach your goals.
Also, take a look at this 78 year old millionaire, who has never made over $11 in his life.
Pay Down and Stay out of Debt
Debt is so easy to get into. It is no accident either. Credit card companies are making their millions off of you! With their ridiculous interest rates, if you pay the minimum payment every month, you are basically paying double for everything that you originally purchased. It is just not worth it.
Pay off those cards and start saving your money.
Take Chances and Dream Big
You are capable of anything you set your mind to. Why not set your mind to something amazing? Dream big. Go after your dream job and speak up. By following your heart and helping people around you, you will find a purpose for your life while making a killing financially.
Whatever it is, go for it, you only live once.
Don’t Listen to the Nay Sayers
As soon as you start listening to the people around you who are discouraging and negative, you are allowing their opinions to shape your reality. If you let them in and allow their limiting thoughts about how hard money is to come by and earn, you will begin to limit yourself as well.
When someone who has a hard time with money comes around, be sure to be on guard and to make sure they do not put limiting beliefs on you. You are more than capable of making any amount you desire and it doesn’t have to be as hard as they say.
Embrace your Entrepreneurial Spirit
While you don’t have to be an entrepreneur to make you millions, this is a great way to go about it. If you have an idea that will help others or change the world, you need to put serious thought into bringing it to life.
My dad had an entrepreneurial spirit, yet never acted on it. He had so many amazing ideas that never came to life and I am saddened to say he never lived out his work life dreams. Don’t let your ideas go unnoticed, if you are passionate, make an effort to get them out there. You never know what kind of difference you can make until you go for it.
Now that you know some of the ways you can make a million dollars, lets look at the actual millionaires.
Related: How to be Successful in Business
15 Traits that Millionaires Share
There are some common traits that millionaires tend to share. If you are serious about becoming a millionaire, it doesn’t hurt to take a deeper look at how they think and act, so you can do the same. Start by writing down your goals and then adopt some of the following traits so you can follow their lead.
1. Millionaires Value their Time
Millionaires know that time is well spent when it is spent being productive. You won’t find a millionaire binge watching Netflix or mindlessly scrolling Facebook. They are not sitting around thinking about taking action and being rich. They are taking action.
With that action, they are one step closer to their goals and dreams of being a millionaire.
2. Millionaires are Comfortable with being the Oddball
Millionaires do not need to be like everyone else. There is something different about them and they are fine with going against the crowd to be true to themselves. Most self-made millionaires are seen as a little eccentric and strange at first glance. Underneath this layer of awkwardness is the mind of a genius.
Millionaires do not waste time trying to be like everyone else. They embrace who they are and make no effort to people please on their pursuit to the top.
3. They have a Positive Attitude
Failure is a big fear of many. If you are brave enough to try and then you fail, will you get back up?
A millionaire mind knows how to turn failures into learning experiences and will ultimately fail over and over again until they succeed. They always have a positive vision of the future and their failures and setbacks will not stop them in their pursuit of tomorrow.
Related: How to Change your Life
4. Millionaires are Always Learning
A millionaire is always learning and taking everything in. They are always evolving and changing to be the best that they can be.
Someone who closes himself off to new possibilities and solutions is ultimately dooming themselves to failure. Life is always changing and growing and so is a millionaire’s mind.
5. They Understand that their Success is on Them
A millionaire understands that his life choices and actions are his own. It is ultimately on him if he succeeds or fails. While you can’t always control your circumstances you can always control your actions and reactions.
These actions will be what takes you from average to extraordinary. Be willing to step up and take the action needed to make your own path in life.
Related: How to be successful
6. They Take Care of Themselves
A millionaire knows that he has to take care of himself in order to go on to greater things. He will take time out when he needs to gather his mind and health. He will treat his body with respect by eating well and exercising. He knows that in order to fully enjoy life, he must care for what he has been given.
7. They Don’t Need to be Trending
Millionaires don’t need to know who the Kardashians are or what the latest show in TV is about. They are content without the meaningless distractions of society. They are fine without name brand clothing or trendy cars. As they build themselves up, they save time and money without all of the superficial distractions.
8. They Hold Themselves to a Plan
Not only do millionaires make a plan of action, they follow it through. They know the steps that will take them from point A to point B and then they take action appropriately. If there are obstacles on the way, they adjust their plan and keep on moving.
The most important thing they do is take action. They are continuously learning and growing and they are most based in actions than in thought.
9. They Believe in Sharing the Load
A millionaire knows that they can not do everything by herself. She will find people to help her with tasks so she can focus on making bigger leaps forward.
10. A Millionaire knows about Diversification
A millionaire knows that is it not smart to depend on only one thing for income. By having multiple sources of revenue and different ways of making money, he will always have a flow coming from somewhere even when one stream dries up.
11. They Watch who they Associate with
The saying that you are who you spend your time with is true. By associating with positive people owho are successful, you will have a greater chance of doing the same.
12. They are Generous
Millionaires understand that it is part of their duty to life people up and improve the world that they live in. Both financially and through helping others, millionaires are more than willing to give back and help the world around them.
13. They go Above and Beyond
Millionaires did not become who they are by doing the bare minimum. They worked hard and went well above what was expected of them. They did not stop until they felt like it was time. Millionaires are relentless in their pursuit and actions.
14. They Find Mentors and get help when needed
A millionaire understands that the fastest path to what they want is by learning from someone who has done it themselves. They know that they can avoid easy pitfalls and get wisdom beyond their scope by hiring a professional coach.
15. They Never Give Up
Even after the worst day or a depleting failure, a millionaire will get back up and try again. While they may feel discouragement, they will never let it define them or determine the outcome of thoer life. This is extremely important to remember as it will happen multiple times throughout your journey. Remember to always get up and do it again.
After reading this, you can see that you already possess a lot of the traits that make up a millionaire. Work on the ones that you are missing and make it a point to take action and get started on your millionaire journey.
If you are ready to level up your mindset for the big time, sign up for our free 7 day challenge to get on the right path for your journey.