Have you ever thought of how a millionaire came to achieve the financial wealth that they have? I have always wondered that and this was a curiosity of mine from a young age. Luckily enough, I had a neighbor almost 7 years ago who was a millionaire. Best of all, he was happy to answer every question I had about financial success.
It is no secret that millionaires have different habits, qualities and ways of thinking than the average person. The habits that millionaires practice are most prevalent when it comes to managing their money. Their thinking is extremely unique, which in turn helps them earn more money and make wise financial decisions.
When it comes to building wealth, there is no complicated formula: save more and spend less. But aside from that conventional way of thinking, there are more tips and lessons that you can learn from successful millionaires. I will be sharing with you 7 important lessons about money the millionaire next door taught me:
1. Anyone Can Make Money As Much As They Want
Whether you were born poor or extremely rich, that has nothing to do with what your earnings may be later on in life. Anyone can make money. It does not require you to have a fancy degree to earn a lot of money, especially if you’re living in a free market economy. Self-made millionaires have taken advantage of this opportunity for centuries. Never set a limit or a cap on how much money you want to make, the sky should be the limit.
2. Background, IQ, And Degree Are Irrelevant
Another lesson from millionaires; your background, the highest level of education and IQ is irrelevant when earning money. Money comes from hard work, perseverance and capitalizing on the right opportunities. Neither Bill Gates nor Mark Zuckerberg finished their collegiate degrees, but today they are one of the wealthiest people on the planet. Where you come from, how intelligent you are and what college you graduate from don’t determine you future. They can play a role in your future, but if you hustle hard enough, you can get rich without any of that stuff.
3. Solution To A Problem Means Money
People who made money are those who give solutions to problems. This was the most important thing I learned from my neighbor. He kept repeating and grinding this idea into the back of my mind. The more problems you solve, the more money you make. The more important the problem is to people, the wealthier you will get. To get truly rich in the world today, you have to isolate problems and come up with creative problems with through products or services.
4. Don’t Believe That Life Is A Struggle
Life is never a struggle. There will always be naysayers that will tell you that life is a struggle. They will tell you that you should just settle and be grateful for what you have. Being grateful is a must, but don’t let gratefulness limit how successful you can be. A millionaire is restless, they are never fully satisfied with where they are at and they’re always seeking to be greater. You will experience difficulties along the way to become successful, but don’t treat life as a struggle. Instead, deal with it as a challenge that you can overcome to be successful.
5. Expect To Make More Money
You might have heard this a million times – think big! Nevertheless, people still forget about how important it is to think big. Don’t worry, I was the same way. When I first got started, I would go around telling everyone I just wanted to make $1 million dollars and that would be amazing. However, why should I settle for $1 million when there are others who are making $10 million or $100 million? Never stop and never settle. Think bigger and surround yourself with people who are achieving amazing things so that you never feel limited in what you can achieve.
6. Don’t Wait For The Money To Come To You
If you want to earn a lot of money and become a millionaire, then you should do something to make it happen. No one will hand you money and the only way to get rich by sitting and being patient is to win the lottery. You have a better chance of getting struck by lightning than you do winning the lottery. If you really want to be wealthy, you need to work your ass off to achieve it. No millionaire became a millionaire just by getting handed a ton of money. You need to get off your ass and do something to get rich!
7. Getting Rich Is Within Your Control
Many people become discouraged to earn a lot of money because they believe that they don’t control how much money they can make. I’ve seen this to be the case with many college graduates who think that their degree has already determined the maximum amount of money they can earn. If you’re degree is limiting you, follow an industry or a path that your degree isn’t involved with. A lot of people think that getting reach is out of their control and only the fortunate ones achieve this. The truth is, you control how much money you can make. If you really want to be rich, you have to make sacrifices, seek opportunities and put in more hours than others are willing.
Conclusion
Without having the conversation I had with the millionaire next door, I may still not have had the right perspective about money to this day. In this post, I shared with you 7 important lessons about money the millionaire next door taught me.
