Gaining Financial Freedom, how to become a Millionaire
Oh hi there! I’m Victoria and I am so excited that you are spending some time here with me today I want to talk about how to become a millionaire
If you found this post, you are probably on your Millionaire journey as well and I’m SO happy for you!
Congratulations, because this is such an awesome decision to make. I’ve put together some things that I have realized about what it takes to become financially successful and I wanted to share them with you!
I’ll be making an entire series on this topic so don’t be a stranger!
Last year, I was determined to change my entire life. I had several goals that I wanted to achieve, most of them were financial goals. I achieved those goals, and it was the most liberating feeling ever.
Last December, as I was writing goals for 2018 I decided that I was going to set my financial goals even higher. I’m writing a money series, so I can keep track of my progress and maybe inspire someone else along the way. I have already made SO much progress and it’s a game changer!
How to be a Girl Boss.
How to organize your finances.
I’ve been thinking a lot about millionaires recently.
How their mindset is different than that of the lower class, I have realized all these things before but hearing them all together really puts things in perspective. I’ve learned over the years that if you want to become a millionaire, you must live like one. Even if you aren’t. This post is going in to where your mind must be in order to build wealth.
A financial “situation”.
Most Americans have some kind of debt. Student loans, car loans, medical bills, mortgages, etc. If you are debt free, you might be preparing to make a major purchase, and you want to save a ton of money before taking the plunge. You might be trying to build your retirement fund, or put your children through college, or purchase them their first car. No matter what the situation is, you must get into the mindset of a millionaire. There are many things Millionaires do that help them get to the top. Here are the ones that stand out to me.
Are you mad?
This series really isn’t for you unless you are mad. Maybe you are buried in student loans, and you feel like you will be paying forever. Maybe you have been working for years and feel like you don’t have much to show for it. Whatever your situation, you have to get mad when it comes to achieving financial freedom and building wealth. Why? Because that anger will turn into drive.
It’s very important that you understand the concept of dead money. Have you ever purchased something on impulse that you know you shouldn’t have and then your ended up not using it, or not being satisfied with it? You aren’t able to get your money back? That is dead money. Paying interest is dead money. Paying late fees on your utility bills? That money is dead. Totally wasted. Like throwing it off a cliff. Once you understand this, you will be a lot more careful where your money goes-hopefully.
The beauty of delayed gratification.
Sometimes you have to put things off until the time is right. That can be hard sometimes, because we are a nation of aggressive spenders, who want instant gratification. This is not going to be acceptable on this journey. You must be willing to understand and accept that sometimes the best things in life take time and hard work.
Every little bit counts.
Another thing that people have trouble with is spending a little at a time or thinking that just a few dollars here and there doesn’t matter. The truth is that most people waste their money on small frivolous things rather than big ticket items. It may not seem like a lot to spend an extra $5 at target, but if you do it all the time, that money adds up. Making better choices little by little is what is going to change your life. Every. Dollar. counts.
You will have to get super organized
Yep, you will have to put in some work in order to keep track of your finances. If you are not normally a super organized person, you will have to get into the routine of keeping a close eye on every dollar you spend. The first thing I did was create a binder so I had everything right in front of me. This is the best thing I could have done but it took a lot of time to evaluate my finances before I could come up with a plan. Now that I am organized, everything is much easier.
All or nothing
The average millionaire has 7 streams of income. This means that they are fully dedicated to building wealth, working hard, being successful. They don’t have much free time because they are doing business. They make lots of sacrifices for their success. They don’t half ass their work because they know that would result in failure. Once you decided to do this, there is no going back if you are determined to succeed even in your worst setback.
Don’t underestimate yourself
At first it will seem like it will take forever to see a light at the end of the tunnel. If you stay positive and keep your mind on the money, you will see major progress, and that will motivate you to keep going.
I really hope you enjoy this series on financial freedom and learn a lot from it. There is power in education I promise you that. The more you know about wealth and achieving your goals, the better chances you have at making it happen. Let’s live our dream lives together! I’ll post installments in this series every Monday, so be sure to come back for more! Be sure to check out my other post, 10 Easy ways to save money!! I used those tips to drastically reduce our yearly spending and it has made a huge impact on our lives.