Anyone can make as much money as they want in a free-market economy,” says millionaire Steve Seybold, who has studied 1,200 of the world’s wealthiest people. And it’s never too early to start. Of course, there are no guarantees, but you can at least increase your chances with these tips.
1) Focus On Making Money
Grant Cardone, who was in debt at 21 and a millionaire at 30, says, “In the current economy, you can’t save your way to being a millionaire.” And then you have to repeat it.”
“I started with $3,000 a month, and nine years later I was making $20,000 a month,” he says. By keeping an eye on your cash flow, you are forced to monitor your income and spot opportunities.”
Making more money is easier said than done, but most people have various options. Read business tips from entrepreneurs who also earn $170,000 per month, or check out ways to make more money, some high-margin side jobs, and methods for making passive money.
2) Save To Invest, Not Invest To Save
We “save money” to “invest.” The money saved is placed in a separate, safe account. These accounts should never be used, including in an emergency. This will force you to continue following Step 1 (more than twice a year, you will still be broke because you put surplus money into inaccessible investments),” Cardone writes.
Investing is not as complicated or scary as we think. The main thing is to work with automatic transfers. That way, you can’t even see the money you’re investing, and you can live without it.
3) Change the Way You Think About Money
Millionaire Steve Seybold explains, “Getting rich starts with the way you think about making money.”
“In the end,” he points out, “the trick is always the same: your own thought patterns.” While most people believe that getting rich is beyond their control, the rich know that making money comes from within.”
4) Visualize Achieving Your Goals
If you want to make more money, you need clear goals and a concrete plan for achieving those goals. Money does not just appear; it has to be worked for.
Rich people choose to commit to making money. It takes focus, courage, knowledge, and a lot of hard work, noted millionaire T. Harv Eker. It is possible with clear goals and a clear vision, he says. ‘The biggest reason so many people don’t get what they want is that they don’t know what they want. Rich people know that they want more money.”
5) Aim for 10 Million People, Not 1 Million
”I made the biggest financial mistake by not thinking big enough,” Cardone wrote.
“I challenge you to aim for more than one million people. There is not a shortage of money in the world; there is just a shortage of people who think big.”
6) Get More Income Sources
One way to make more money is to increase your sources of income.
In a five-year survey of self-made millionaires conducted by author Thomas C. Corey, he found that 65% had three sources of income, 45% had four sources of income, and 29% had five or more sources of revenue
This relates, for example, to rental real estate, company stock and joint ownership.
“For the millionaires I surveyed, three income streams seems to be the magic line, but the more cash flow you can manage, the better,” he wrote.
7) Don’t Show Off
Cardone writes, “I didn’t buy my first expensive watch or car until my business had generated a steady revenue stream.” I was still driving a mid-size car when I hit my bank account’s $1 million mark. Be known for your business attitude, not the nice things you buy.”
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