How to Make Yourself a Millionaire in 5 Steps
In order to become a self-made millionaire, you need to have discipline, determination, and strong communication skills. You can either be someone who dreams of becoming financially successful or you can be the person who does the work to become financially successful. We’ve put together a list of steps that, if executed well, will help make you a millionaire. Read on and get ready to take control of your financial future.
To quote Inc., “Those people who spend like they are going out of style generally end up broke.” Lavish spending on frivolous items like fancy houses, cars, and material goods is often not sustainable. Sustainable millionaires don’t spend like millionaires. Sure they enjoy the good life, but they buy with the motive of pleasing themselves, not showing off for others.
Giving to charity gives your conscience a feel-good boost, and it helps with your tax bills. If you give a large donation to a charity or organization and keep the receipts, you can write it off on your taxes. We think being philanthropic is the ultimate act of altruism.
Don’t let your money sit idle. Make it work for you by investing or putting it into a high-interest account. A good rule of thumb is to take your paycheck, allocate what you need for bills and living, and then put 10% into investments or savings.
Millionaires (or millionaires-to-be) are not afraid to ask for a raise. They are also never hesitant to do the extra work that would warrant a raise. If you want to be a millionaire, you must do whatever it takes, which means working hard but also being your own strongest advocate. No one is going to ask for a raise for you.
This does not mean marry rich. Rather, it means marry someone with the same goals and values of money that you have. Love is a beautiful thing, but money can often spoil a marriage once you’re a few years (or decades) in. If you want to be a millionaire, make sure you talk about money before you say “I do.”
To read more ways to become a millionaire, visit Inc.
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Are you determined to be financially independent? Share how you’re making strides toward your goal in the comments!
Opening photo: Lauren Messiah