How to be a millionaire in 5 steps

Learning how to be a millionaire does not have to be a mystery. The first thing is to clarify that it is a question of habits, not of magic or secret formulas.

Some of these habits are easy, others difficult to implement that can take time; the important thing is to make them part of your routine so that you begin to see how your life and your personal finances improve, and the question of how to be a millionaire finds your answer.

1-. Focus on increasing your income

If you want to learn how to be a millionaire the first thing is to stop thinking that avoiding to buy 3 dollar coffee you will achieve.

A saving mentality is useless if you do not focus on increasing your income. If you currently have an income of $ 1,000, what can you do to bring it to $ 3,000? Here are ideas to make money in your spare time.

2-. Learning how to be a millionaire is not about appearances

Are you willing to forget the luxuries and appearances to achieve your financial goals? Many people do not see the time to earn 5, 10 or 20 thousand dollars a month to give them the life of their dreams.

The problem with this is that they never invest, so the incoming money comes out in the same proportion in unnecessary expenses that do not help you answer the question: How to get rich?

3-. Saving is just the first step in the wealth formula

What do you do with the savings you have, the coins and bills you keep, or the money you put into your bank account?

It is no use, saving this money and depriving you of expenses, if you are not doing something productive with this money, or worse still, you are simply procrastinating to buy something in the future.

To be a millionaire you must invest your savings, define a strategy, have a time horizon, know your level of risk tolerance and set financial goals.

4-. Endeavor to generate wealth, not to maintain your lifestyle

Do not reject investment proposals or potential businesses that you feel can be profitable because of your lack of capital. Endéudate. It is very different to obtain a debt to invest, which will generate a revenue for you, to acquire debts to maintain your lifestyle to 36 installments.

The key in how to be a millionaire is not to avoid debts, but to leverage those that will increase your income flows.

5-. Establish how much you want to be a millionaire

If your number one goal is to be a millionaire, and make it a priority, the other things in your life will occupy a secondary position and you will be sending a message to the universe very clear of what you want to achieve.

If it is your priority, every day you ask yourself what you can do to get closer to your goal; you will have a note full of ideas about how to get rich, you will attend courses, read recommended books to improve your finances, and surround yourself with people who have already done so.