When it comes to having a millionaires mindset and studying the behaviors of millionaires (specifically self made millionaires) who are regular everyday people and have built their wealth over time, how they get wealthy and how they stay wealthy, there are a few things that come to mind.
Characteristics of millionaires
- They have well thought out financial plans. Their plans include the short term, mid term, long term AND unforeseen emergencies.
- They are super careful when it comes to spending - they do not overspend.
- They focus on earning more by cautiously investing their earnings or through business because they know this is how you build real wealth.
However, a lot of times people tend to minimize the most important characteristics of millionaires which is that they have the right mindset - they never doubted that they could accomplish building wealth and they've done it based on having this mindset.
The millionaires I'm describing here are not lottery winners. They are not celebrities. They did not get big inheritances handed to them and they don't necessarily make high incomes BUT they decided they were going to build wealth and they went ahead and did it. These folks are not that different from you.
So how do you develop a millionaire's mindset?
The first step is the most important and it's pretty simple too. You have to first and foremost decide that you can.
That debt that seems so massive - you can pay it off. That savings goal that seems so out of reach - you can get to it and surpass it. The business idea that seems like you can't possibly succeed at, you can do it. Once you decide you can, you will be motivated to create your plans and put in the effort.
You'll come up with ideas to make things work. You'll do what you have to do, even though it may not be your ideal situation (getting a second job, working late, packing lunches, giving up vacations etc) to reach your financial (and life) goals.
It won't be easy. There will be slip-ups, down times and failures but as long as you are not afraid to fail, and as long as you understand that within every failure is a lesson that can propel you, you can do whatever you put your mind to.
If instead you decide that you can't and continue to tell yourself you can't, then every day will be the same with you thinking, wishing, dreaming, lamenting, complaining and over time it will eventually be you regretting what you could have done but you didn't do.
Which would you rather?
Once you are fully committed to the idea and fact that you can accomplish anything, you can harness your mindset in the following ways:
- Surrounding yourself with the right influences
- Learning as much as you can
- Stop procrastinating and waiting for things to happen to you
- Creating goals and a plan that you work towards
- Creating a routine to help you stay motivated and inspired every day
Now it's time to go off and develop your mindset (It really all starts in your head!) and over time, combined with solid wealth building plans, the payoff will be well worth it!
Bola Onada Sokunbi