I started my life penniless, but was blessed with enough focus, discipline, and commitment to lead a very good life today.
In my experience, these are 12 tips to become a millionaire.
1. It’s never been so easy
There are currently many tools out there to become a millionaire. So don’t make yourself complications. There is a lot of money in the world and thousands of ways to access it. The first thing to keep in mind is that capital is out there and it’s not hard to find.
2. Saving is not enough
The old idea of saving every penny is not enough in today’s world. Simple and easy, you cannot collect a million pesos this way without getting old first when the money is no longer of so much value to you.
3. Live under your abilities
Don’t spend more than the money you make. It’s not about depriving yourself of the basics of life, but about avoiding unnecessary costs. I’ve never made a deal just about the suit, the watch I own, or the car I drive. Live below your abilities until you no longer have to.
4. Learn how to file taxes
Know the tools Hacienda has for you. Stop complaining about taxes and learn how you can benefit from it. Remember, there are legitimate ways to reduce your payments to the government.
- To Know More: 8 Slow (But Safe) Steps To Becoming A Millionaire
5. Develop the investor further
The most direct way to get rich is by investing, which you can’t do if you don’t have capital. The only reason to save is to be able to invest. Only spend your money on projects that you really believe in.
6. Act like a boss
Stop acting like a poor bystander and start being the boss. When the restaurant bill comes up, you pay it. When you need to invest money getting information, buy a list, grow your brand, or learn to sell, you need to sign the checks with confidence.
7. Automate your savings
Open a bank account from which part of your salary will be withdrawn every two weeks. That way, you have to prepare for lower capital and stop spending on what you really don’t need. And you’ve always saved money.
8. Hurry up
Be the rabbit, the turtle and the millionaire. The only thing left to people who sin as patients is the crumbs left by those in a hurry.
9. Do “Million Dollar Math”
Do the necessary calculations to find out how long it would take you to raise your first million pesos. If you are making 50,000 pesos a year, consider that saving 40 percent of your salary would save you 50 years. If you don’t do these kinds of calculations, you can’t be a millionaire because you don’t have the right thinking. Mathematics is the universal language.
- To know more: 10 tips to become a millionaire before 30
10. Diversify, but focus
As the saying goes, “You don’t have to put all your eggs in one basket.” This means that it is always advisable to have an investment portfolio made up of different options. However, it’s also important to choose an option that you really believe in and bet more heavily on it.
11. Look for different sources of income
This is the best way to achieve financial independence. Look for ways to get assets that require minimal effort, such as: B. Fixed asset investments to strengthen your portfolio.
12. Don’t fall into traps
Ignore all the offers that promise to make you rich in less than a year. Being a millionaire takes time, dedication, discipline, and effort. There are no shortcuts.
You deserve financial freedom, but to achieve this you must first set realistic goals that will help you plan.