Today is ‘Be a Millionaire Day’ so I’m sharing some insights from those who are millionaires (and richer), on what we can all do to increase our bottom lines. Some or all of these may be things you’ve heard before, and that is because they’re the things that people consistently do to increase their wealth. I don’t know what your financial goals are, maybe that’s not a million a year, maybe it’s $500,000 a year. 1 million is just a number, the number that matters is whatever number makes you and your family feel financially secure. Let’s talk about how we can all get to be more financially secure.
I know this sounds silly, but if you want to become a millionaire you have to make changes or do something so that you can make more money. You can’t get to the million dollar level if you don’t earn more.
Have multiple streams of income.
This is fancy language to basically say don’t have all your eggs in one basket. Have a job/career you work primarily plus one or more other sources of income. If you’re not ready to start your own business you can do things like web design, social media management, a webstore, or write and sell books on the side until you’re ready to something more/bigger.
Get better with money.
Don’t avoid the money conversation, take time to make sure that you know where your numbers are, what you’re spending, what you’re making, what your needs are, what your future goals are,
Don’t blow it all on luxury.
Many millionaires say that while they spend money on luxury items and experiences, it’s not something they did right away nor is it something they do in excess. They’re always more focused on making money than spending money. In line with this would be making sure to live within or below your means, not above them.
Never stop learning.
This is one of the biggest keys to becoming wealthier. It’s hard to increase your income if you don’t have anything bigger or better to bring to the table. Start with an online course or webinar or summit, many of them are free. If you don’t think you’re in a career that has a lot of future potential, maybe it’s time to get a whole new education and go back to school. Take time each day to read educational material online and learn from those who are in a position you respect or wish to gain.
It starts small.
Start with one college class or one raise or one extra assignment/job or 5% invested/saved each month or one less purchase. It’s way more likely you can earn the money than it will fall in your lap.
So what will you do today to get closer to your financial goals?