Think like a millionaire
Monday, May 5, 2008 | | |Most rich people have not become rich by winning high salaries or wages. They created their wealth wisely by investing their discretionary income.
If you want to be rich, stop wasting money. Never be afraid or feel guilty to invest your "extra" money well spent in your company - even if it means having to miss the purchase of new water-skiing boat you've had your eye.
Most rich people have not become rich by winning high salaries or wages. They created their wealth wisely by investing their discretionary income. And they managed their lives so they had discretionary income to invest.
Many Americans today tend to broaden their way of life to the very limits of their financial capabilities, and even beyond - thank you to quickly and easily small square of plastic called credit cards. This means they have little or no discretionary income. They are financially stretched or attached - two very descriptive and precise words. Worse still, any discretionary income they might even have the hope is eaten by interest charges fed to a portfolio full of credit cards. Thinking like a millionaire, it is good to know that millionaires rarely a balance of their credit cards because they do not like borrowing to pay for things that the decline in value over weather.
So how do people who are rich today really managed to put aside enough money to invest? Before making a purchase, many rich people wonder if they can buy the item in less - the sale by negotiation or online.
If people are accustomed to spend everything they do and then some, it really does not matter what their income. They'll never be really rich. They will probably acquire a lot of toys and gadgets, and they probably have a big house and drive nice cars. But they will always be extended, committed and, in general, concerned about making enough money to support all this.
This is not wealth. The wealth brings freedom - and non-financial bondage. Wealth is when money flows in you, and you hang on a part of it and make it your slave. Poverty is when money flows from you as soon as it happens, you make his slave.
The seeds of true, lasting wealth are sown the moment you make the long-term commitment to think like a millionaire to invest rather than spending cuts discretionary income coming your way. Instead of spending your windfall, or use it to bury you deeper into debt, why not invest this money and make it work for you? Get the momentum moving in the opposite direction. This is how a millionaire could think of.
If you want to be rich, stop wasting money. Never be afraid or feel guilty to invest your "extra" money well spent in your company - even if it means having to miss the purchase of new water-skiing boat you've had your eye.
Most rich people have not become rich by winning high salaries or wages. They created their wealth wisely by investing their discretionary income. And they managed their lives so they had discretionary income to invest.
Many Americans today tend to broaden their way of life to the very limits of their financial capabilities, and even beyond - thank you to quickly and easily small square of plastic called credit cards. This means they have little or no discretionary income. They are financially stretched or attached - two very descriptive and precise words. Worse still, any discretionary income they might even have the hope is eaten by interest charges fed to a portfolio full of credit cards. Thinking like a millionaire, it is good to know that millionaires rarely a balance of their credit cards because they do not like borrowing to pay for things that the decline in value over weather.
So how do people who are rich today really managed to put aside enough money to invest? Before making a purchase, many rich people wonder if they can buy the item in less - the sale by negotiation or online.
If people are accustomed to spend everything they do and then some, it really does not matter what their income. They'll never be really rich. They will probably acquire a lot of toys and gadgets, and they probably have a big house and drive nice cars. But they will always be extended, committed and, in general, concerned about making enough money to support all this.
This is not wealth. The wealth brings freedom - and non-financial bondage. Wealth is when money flows in you, and you hang on a part of it and make it your slave. Poverty is when money flows from you as soon as it happens, you make his slave.
The seeds of true, lasting wealth are sown the moment you make the long-term commitment to think like a millionaire to invest rather than spending cuts discretionary income coming your way. Instead of spending your windfall, or use it to bury you deeper into debt, why not invest this money and make it work for you? Get the momentum moving in the opposite direction. This is how a millionaire could think of.
