Do you really want to become a millionaire? We all have dreams of becoming millionaires. Here are ten ways to do it:
10 Ways To Become A Millionaire
Never Spend More Than You’re Making
(This is one of J.D. Roth’s mantras over at Get Rich Slowly...and he’s right.)
Always Save Some Of What You’re Making
Ten percent is a good start — but you’ll be a millionaire faster if it’s more. In fact, this post will tell you exactly what you need to do in order to become a millionaire when investing in the stock market.
Pay Less For Your Living Arrangements
If you rent, get as many ‘goodies’ included as possible. (Like utilities, garbage pickup, free cable and so on.) Get a roommate, and share. Or don’t buy a house, until you can get it distinctly cheaper. (Our second house didn’t show up until we’d spent at least six months looking at houses — at least 75 of them. The first house took almost as long to find.) Or, you can even live overseas where it is much more affordable to live.
Buy A Smaller House Than The Mortgage Company Says You Can ‘Afford’
Real estate, provided you’re willing to keep your purchase modest, can be an excellent way to invest that extra money.
Pay Less For Your Car
This may mean taking the bus, relying on only one vehicle or sharing transportation for months, until you find the right vehicle at the right money. (Craigslist is a godsend.)
Work Hard
You’re going to have to put in extra hours, to get more income. Focus on what you want, and what you need to do to get it.
Start Your Own Business
The Millionaire Next Door, the everyday person’s guidebook to getting rich, says that many of the millionaires it profiled were entrepreneurs who started their own business. (Or two. Or three.) Even better:
Consider A Business That’s Necessary, But Not Necessarily Glamorous
something people would rather pay for, than do. There will always be a need for septic system clean outs, house/office cleaning or fixing plumbing accidents. These everyday businesses aren’t fancy, but they’re practical. And sooner or later, everyone needs to use them.
Keep Your Business Expenses Down, Until You Can Afford More
Better to start modestly, than rack up interest debt and expand so quickly that you can’t afford to keep a careful eye on things. Too many people have made promises they can’t keep in business — keep yours small, until you can afford to do more. Reputation is everything.
Get Married…To The Right Person
The Millionaire Next Door, as well as a number of other financial get-rich tomes, makes it clear: two people can get more accomplished than one, especially if both are careful with their money, and committed to each other.
The post Ten Ways Anyone Can Become a Millionaire appeared first on Penny Thots.
