Is it possible to be a self made millionaire even with the present state of the economy?
The answer is yes you can become a self-made millionaire no matter how bad the shape of your economy
Why? Because the secret to becoming a self made millionaire lies with you.
To get rich you need to have the right attitude and determination
Let me share with you the number one secret about getting rich:
“Getting rich is the result of doing things in a certain way”
In other words it what you do that matters if you want to get rich.
This means that you can read all the positive thinking books in the world, but if you do not do certain things about getting rich- you are only deceiving yourself
Here’s the thing about self-made millionaires….
They are ordinary folks living in neighborhoods- that you will not class as -where affluent people live
Most self-made millionaires ride ordinary cars like Honda Civic, Ford Focus.
They drive Ford F150s trucks that are older than 5 years…shop in Sam’s club…buys their clothes at Target instead of Neiman Marcus
However, self-made millionaires spend money:
on buying foreclosure houses,…
start chains of small stores that serve the community.
They contribute more to local charities; their churches… towards helping the less fortunate in their communities
Why do self made millionaires get rich and others don’t?
What separates a self made millionaire from the rest of us that are struggling financially?
The answer is this: self made millionaires have developed habits-that is wealth building habits-that make them get rich the more they practice them
The number one habit that is the core of all habits that self made millionaires practice is frugality
What is frugality? This means learning how to self denial
What? I can hear you say as you are reading this article…
Wait… before you stop reading this article…I want you to get the true picture of this very important trait
Why? Because when you can digest and assimilate the importance of frugality…
You’ll be able to sidestep many obstacles that have been holding you back from building wealth
If you really want to understand what it means to be frugal you need to watch TV
Please don’t pooh-pooh this idea…. I beg you!
I want you to surf through your cable TV or surf the web and look for a program called… ready for this?
…Extreme cheapskates
Yes I want you to watch the program for a reason: I want you to see how these individuals are cut down on their expenses and saving money.
I must warn you that the program shows how miserly people can get which is not my point.
What I want you to learn is: that it’s only by learning to live below your means you can save money
For example in one of the episodes that I watched a mother of 4 called Kate bought a $1 million home for $450,000! Which means her family had an instant equity of $550,000
Kate goes on to buy high quality furniture at rock prices… that you’ll never know the difference between her and her millionaire neighbors
How do you apply financial prudence to get wealthy?
The answer is simple. Figure out a way to increase your income at the same time reducing your expense.
Save and invest the money you gain to get higher returns.
If you could delay gratification such that you reduce your expense … and you save and invest your money consistently…
It’s a no brainer…you get rich. That is you’ll be a self-made millionaire