How To Become A Millionaire Before 30December 20, 2018
Determination is something you should have when achieving any dream, and if your dream is to make a lot of money, then you need to make a strategic financial decisions too. The earlier you start working, it is more likely that you will be able to pile up more money. Let’s say you want to make your first million before turning 30, here is what you need to know.
Inheriting an enormous sum of the money would be ideal thing, but the truth is not everyone is lucky enough to be the one in will of a rich relative or a friend.
When you set your goal of making a million by the certain age, don’t be afraid, or think it is mission impossible, because there are people who achieved it in their twenties. Also, don’t be unfairly optimistic, since there are many like you deaming of becoming rich and never living the dream. Giving up easily, not thinking about the money in the right way or not being confident enough are mostly the reasons why they fail.
Becoming a millionaire should never be connected to greed. When you achieve your goal, you should be able to help others too. You should always lean to ethical ways of making money, and be true to yourself.
Seal The Holes
It is very important to learn to save the money. If you are not the type to do that, there are really small chances that inspirational video or money saving ideas you read about might help you. The thing is to change your habits and realize what it is that you are doing wrong.
Common thing people do that prevents them from saving the money, is that they buy things they can barely afford, which leads to an empty bank account.
Here is what you could do for better organization: make a budget, know where you can save, prioritize your needs and track your expenses, monitor the progress and know why you are saving.
Make Youself Available For Being Purchased
This is not literally. What you need to do is to build and upgrade your personal brand by making it reflect your qualities, talents and skills. To do that you could start a blog, offer a paid audio/video course, become a consultant, host a workshop or a seminar, write or co-author a book.
Math of money-making is here to help you calculate, manage and keep track of your money.
Having a clear idea of what you need and want will stop you from making impulse decisions like shopping something you will never need.
If you have any debts, you should pay them and keep receipts. Also creating cash flow projections is very good idea.
Onc e you know your goal, you need to prevent anything from stopping you reaching it. Like allowing hilarious memes to take lots of you time when you could be working on what is important. Also, hold yourself accountable, then you will have noone else to put the blame on.
„Someday“ Is Not A Word For You
Someday is not something defined and so might be you dream coming true. Try to picture yourself making a million and make yourself stop saying someday.
Mindset is what separates rich and poor, not the money. If you want to become a millionaire, you need to learn to control the money, not the other way around.
When you think about money, think about freedom and opportunities, visualize what is possible on your jorney to your first million.
Once you have experienced failure, fear and rejection, try to learn from it. Look back and analyze what happened and what you did wrong, so you could do better next time and also to realize how much improvement you’ve made.
Never surround yourself with negative people. This is not just when making money. Negativity is not something you need in your life when achieving any goal. Instead, become an optimistic and you will attract success. You shouldn’t ignore people just because they are negative. Trying to help is always a good thing, but make sure you can tell the difference from being negative at the moment and being negative all the time.
Learn To Say „No“
Many people believe that saying „no“ means they would lose certain opportunity, so they live in fear and that is something that gets them in trouble.
Saying „no“ should not be your way of living, but saying „no“ to certain things, or people, or opportunities, will make you more secure. Always say „no“ to the things you do not want in your life and say it in a way that won’t be dramatic, rude or awkward.
Increase Your Income
What is important here is not just to get a job, but also to get a job that can bring you opportunities to grow. Also having more sources that bring you money is crucial here. You need to invest in you knowledge too if you want to grow. Never do things you know nothing or little about, stay in your line.
You would be surprised to know how many millionaires do not live in expensive mansions, don’t hire help, and use coupons to save up instead of paying extra cash. Unnecessary expenses need to be cut out.
The trick is not just to spend less, but to become capable of getting things at the lowest price possible.
Go Where The Money Is
Many start their own business because most of the time that is where the money is. Before starting a business, you need to learn the basics about mutual funds, stock market, real estate etc. Learning is as important as your desire to make a million before 30.
Adopt A Modest Lifestyle
As previously said, do not shop things just for an instant pleasure, or the ones you do not really need, avoid waisting your money.
In an interview with The Motley Fool, Warren Buffet said: „My life couldn’t be happier. In fact, it’d be worse if I had six of eight houses. So, I have everything I need to have, and I don’t need any more.“
Instead of buying more unwanted stuff, you could sell the ones you already have on eBay, Amazon and similar sites, or even on an open yard sale.
Create A Not-To-Do List
Having a list of habits, distractions of unwanted activities might pay a big role on your journey to million. People are programmed to follow instructions, so this might come handy.
Never Stop Making Money
Once you reach your goal, treat yourself and continue making money. Always behave and work like a millionaire.