Becoming a “Self-Made Millionaire” can be a long process, however, for some people it can happen quite quickly. As you will see, there are 10 steps that are crucial for the self-made millionaire. Developing a millionaire mind set is essential. There are many people who will waste their time, remain where they are in life and just wish things were different.
Then there are those who are willing to sacrifice and develop a millionaire mind set that will change the direction of their life almost over-night. These are the people who will used these 10 steps and become wealthy. These are the people who have a plan and they work their plan until their mission is accomplished. Finding a good mentor is key.
1. Self-Made Millionaires Live Beneath Their Means:
People who are on target to become a self-made millionaire will not blow everything they earn. They save and they invest. When most people are spending every penny their earn – a self-made millionaire will live on much less. Self-made millionaires know the value of money. Money is simply an instrument to be used. Money can be used to work for you – like a tool or slave.
2. Self-Made Millionaires Are Usually Frugal.
Those who have developed a millionaire mind set understand the value of money and they respect it. Money is a tool that can earn you more money. If it is frivolously given away or lost, then an essential tool has been lost forever. Money can be looked upon as a purchased “slave”. It works hard to bring you back more money, when the slave disappears, then what?
3. Self-Made Millionaires are Often Very Charitable.
Millionaires often give to charities because it’s a great way to give back to the community and it’s a great tax deduction. What’s a better way to help others while helping yourself at the same time. Most self-made millionaires have great attitudes and are positive about their future.
4. Self-Made Millionaires Are Always Investing and Seeking New Investments.
Millionaires know the power of knowledge when it comes to investing. They read and are hungry for more knowledge about financial matters. They understand that money sitting in your pocket or in a low interest bank account is not hardly earning you a penny and it could be costing you. Investing money is all part of becoming a self-made millionaire. As we said, money is a tool and it can work to earn you more money.
5. Self-Made Millionaires Know the Power of Time.
The millionaire mind set understands that time is valuable. They also understand they must work hard and they do not fear asking for more money if it’s warranted. Millionaires understand that every hour of every day counts and they must make the most of it. They must pull in as much money as possible.
6. Self-Made Millionaires Understand the Power of Knowledge and an Education.
Many self-made millionaires do not have a degree or a college education, but they still understand and respect the power of knowledge. Most self-made millionaire get their knowledge from a good and respected mentor, even if they have an education. Knowledge is power and the more knowledge you have about investing, finance and money, the more money you will earn.
7. Self-Made Millionaires Never Have Idle Time.
Most self-made millionaires realize that time is money. In the beginning stages, it’s essential to earn as much as you possibly can. If you can’t do it by investing, then work 2 or 3 jobs. Every hour must be bringing in money. It’s important to save and invest wisely.
8. Millionaires Usually Marry Those of the Same Mind-Set.
Most self-made millionaires know the importance of choosing a life-partner who has the same millionaire mind-set. They must also be willing to work hard, save and invest. Capable of sacrificing for the future is essential. Any spouse who does not truly understand this program may be a hinderance to the future of a self-made millionaire.
9. Self-Made Millionaires are Organized.
Most self-made millionaires are very organized and know exactly where every penny is located and how much money is earning. They know how much is in their checking accounts, their savings and what is in their investment accounts. They are on top of any real estate holdings and the interest rates. They seldom use a money manager unless they are truly respected and verified. A self-made millionaire will over-look every move of a money manager and will never allow the money to be invested without his knowledge.
10. Self-Made Millionaires are Mentors to their Children.
Millionaires always show their children the power of knowledge and the power of money. The children are often taught how to work hard and gain as much knowledge as possible. They are usually taught the value of money and how to earn it. They are taught how to choose the right people who can benefit them and visa versa. They are taught to sacrifice and be kind to others. They are taught about how to be charitable when the time is right. Children are taught the power of meeting good mentors that can help guide them through many facets of theirlife.