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Tuesday, January 29, 2013

The Millionaire Mindset: How Self Made Millionaires Think


Do you dream of becoming rich someday, but are not sure how to go about it?

There is a myth that rich people are born with an innate talent to strive for excellence and think creatively, but it is all nonsense! Being a millionaire is not about having more than one million in your bank account. It is about the mindset which creates wealth for you. Similarly, it is the mindset (the wrong one) that prevents you from being a wealthy person. Think about it.. why is it when some people win a huge amount of money in a lottery, they go back to square one and become broke yet again within a couple of years? It is because they never learned the mindset of a millionaire. So, how much money you have right now does not determine you future financial status. Your future depends on your thinking; it's all about changing your psychological approach towards money, success and happiness.

When you think of the word 'millionaire' what image flashes in your mind? For many, it is a flashy type of a guy who lives an ultra-luxurious lifestyle, travels in a private jet, and so on. Surprisingly, typical millionaires are not the image that Hollywood and the media in general has created. Many modern-age millionaires work full-time, live in middle-class homes and shop in discount stores like common people. They are not driven by the material possessions that money can buy. What drives them is the power to make choices; it is about the 'freedom' to make any decision! For instance, being able to quit a job they dislike or sending their kid to a school of their choice.
The number of millionaires has almost doubled in the last decade! There are more and more people getting rich. Millionaires are turning into billionaires! Perhaps, a lot of people are living the good life, so why can't you? Anyone can become a millionaire, but it asks for The Millionaire Mindset: How self-made millionaires think, can help you get there too! Millionaires have more in common with each other than just their bank accounts, it is their mindset. Although, becoming a self-made millionaire is NOT easy, adapting their way of thinking can put you on the right track. Here's how-

1. Whatever You Think About, You Bring About

The beauty of being human is that you can reason and you can choose your thoughts. Thoughts become your actions and actions lead you to your reality. So if you're poor, that's YOUR choice. Maybe you think it's not possible to be a millionaire because you don't have the skillsets, capital, education etc. But most self-made millionaires didn't have any of these, either. Self-made millionaires want to have lots of money and earn it while doing what they enjoy doing the most! They think of multiple ways by which they can attract money.

2. The Universe Doesn't Give You Money

Don't make the mistake of expecting the universe to bestow riches upon you, if that would have been the case you would have been born rich! If you are not rich, it only means that wealth is something that you need to CREATE with creativity and hard work. The first step is of course, the mindset which breeds wealth. Self-made millionaires know that they MUST work harder than everyone else. They don't wait for luck. They make a strong plan on how they will make things happen and execute it. They take a huge 'calculated' risk (could be anything) and hence, reap rewards.

3. Chase Anything But The Money

The idea of being a self-made millionaire sounds great, but most millionaires believe that chasing money will take you nowhere. They all have chased 'something' in their lives and the money came along as a reward. What is it that you would do if you were already a millionaire right now? What are your talents? And are you skilled/educated enough to do your work excellently? Understand that money will always come as a fruit of your hard work. You must be productive and give results. For instance, walking in the hot sun is a LOT of hard work but won't make you a millionaire.

4. Stop Spending, Start Investing

If your goal is to make a million dollars and buy an expensive car, you won't be a millionaire for very long. Millionaires know the importance of investing instead of spending. They earn to save (and that's their habit) and not just to spend. They earn to keep and not blow their hard-earned money away by buying expensive items. They know the fact that money, if saved today, may serve a bigger purpose tomorrow. Moreover, self-made millionaires reinvest the money they make. And they further use it to create new opportunities to be more successful.

5. Strive for Success on a Daily Basis

Earning abundantly means you have loads of knowledge about your work, plus, a strong passion to learn new things and improve your skills. These traits are not something you practice once in a blue moon, they are meant to be a part of your daily routine. Self-made millionaires are passionate about learning and reaching new heights. Just like a child gets excited to learn something new in his/her favorite subject, YOU need to have that passion to excel no matter what gets in your way - emotional traumas, financial setbacks, or whatever.

6. Live Well Beneath Your Means

This is something that you must have read a hundred times, but this is THE golden rule. But why is it so? When you work hard enough to buy that Ferrari, you DESERVE it right? Well, that's for you to decide, but millionaires don't function that way. The reason behind this golden rule is - Gradually, a person starts spending more money than he/she earns. Thus, the real self-made millionaires don't spend more than they earn. As simple as that. As a matter of fact, as parents, they don't pay for everything. They give their kids a monthly allowance and that's it. Hence, they cultivate the 'smart spending' and 'saving' habit in themselves, as well as in their children.
As you can see from the list above, just wanting to be a millionaire is not enough. Self-made millionaires have a different mindset and most live a special lifestyle way before making all that money. By doing some of the things listed above, you too can put yourself on the right path to achieve more!
Obsessed! That's how Drew Davis describes his fascination with the mind and how it relates to success. His website, is dedicated to this obsession. Learn more by going to Think About Bring About
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