I read a very good article written by Kimberly Palmer on Yahoo! Finance entitled “10 Secrets of Millionaires’ Money Management.” Here is the link to the article, which I strongly encourage you to read –
A couple of the “secrets” that stand out are
- Believe that you can do it.
- Articulate your vision for success.
- Work hard–and you’ll get lucky.
- Live below your means.
In the article, the author wrote that Alan Corey, author of A Million Bucks by 30, did something that I often tell people to do: read all the biographies and autobiographies of millionaires that you can. When you do, you’ll see that what they achieved was the result of a (sometimes) good idea, thorough planning, and hard work, as well as a belief that they can do it.
First, they had knowledge of their power; second, they had the courage to dare; and third, they had the faith to do.
When you read biographies and autobiographies, you will see beyond the trite anecdotes that you often hear. You’ll see them in all their naked, sometimes unflattering, glory–warts and all.
Hopefully, you’ll see a little of yourself in them and you’ll be convinced on a very deep level that you can achieve the success you want.
Another point on which the author of the article touched was an idea with which you are probably familiar. That idea is that vague and general goals are of not great value; rather, you should be somewhat specific about your goals. From the article,
Jen Smith, author of the Millionaire Mommy Next Door blog, says that the saying, “I want to be rich,” is too vague. Instead, she recommends imagining what your ideal life as a millionaire will look like. Smith offers this example: “I want to have $2,000,000 invested so that I can live off of the interest. Then I will quit my job so that I can volunteer, travel, learn to play tennis and watercolor, and enjoy picnics at the beach with my family.”
One of the best books that you can read to hone your vision of success is The Master Key Workbook. Get it, read it, do the exercises, and you will have a very clear picture of what you want–and a plan to achieve it.
There are two words that have earned me the ire of some devotees of The Master Key System. Those words are “hard work.”
I have always encouraged people to embrace hard work, as that is the true “secret” of any success, regardless of what some infomercials and “gurus” will tell you. As my proof, I cite every successful person with whom I’ve spoken or whose biography I’ve read.
4. This is another psychological fact which is well known, but unfortunately reading about it will not bring about any result which you may have in mind; it will not even help you to form the mental image, much less bring it into manifestation. Work is necessary—labor, hard mental labor, the kind of effort which so few are willing to put forth.
28. Thought force is the most powerful means of obtaining knowledge, and if concentrated on any subject will solve the problem. Nothing is beyond the power of human comprehension, but in order to harness thought force and make it do your bidding, work is required.
Now, I can cite this article, which quotes Donald Trump –
Donald Trump attributes his success to his hard work, which to outsiders often appears to be luck. But Trump says luck only comes from working hard. “If your work pays off, which it most likely will, people might say you’re just lucky. Maybe so, because you’re lucky enough to have the brains to work hard!” he says.
One last point from the article that I want to address is that many successful people (millionaires) live below there means. Frankly, many that I have met are down-right cheap! Two highly successful people that I know have a friendly competition about who got the better deal on their purchases. (For example, one will point to his shoes and say, “Target. Fifteen bucks.” The other will smirk and reply, “I used a coupon and got these for twelve.” Yes, they are that cheap.)
8. Those who recognize this principle have a great advantage in the affairs of life. They do not wear themselves out. They can eliminate vagrant thoughts with facility. They can readily concentrate to the highest possible degree on any subject. They do not waste time or money upon objects which can be of no possible benefit to them.
Far too many “gurus” are out there today selling a lifestyle for my taste. They brag about their car collections or their huge mansions. They also say silly (if not outright stupid) things such as if you want to make money, then give away money.
As an insider in the self-help industry, I know that many of these “gurus” are playing smoke and mirror games. They brag about cars they don’t actually own (or if they do own them, they go into massive debt for them) or they film themselves in homes they rented for a video shoot. Read this article about the MTV show “Cribs” to see what often happens in the name of promoting an image –
Don’t base your lifestyle on what you see these “gurus” promoting on their blogs and videos. Instead, live life on your terms–and below your means. You will find yourself happier–and wealthier–in the long run.
Take these ideas to heart.
More importantly, put them into daily practice.
Attaining a million dollars is very doable as long as you go about it intelligently. Of course, you can purchase lottery tickets and wish and pray for your one-in-a-billion chance to win the money.
Or you can plan your work and work your plan and practically guarantee your success.
One path is more difficult than the other. One path is also more rewarding. Not just on a materialistic level, but on also on any scale you can think of–mental, spiritual, and moral.
Listen to what real millionaires and successes say about becoming a millionaire. Put their words of wisdom into practice. It may be difficult in the beginning, but you’ll be glad that you did.