When I was at the rock bottom of my financial life, I read a book titled “Think and Grow Rich”.
I was thinking to myself, “can anyone really think and grow rich?”.
That’s when I got on this journey of studying the most successful people, and their habits.
Habits either make us or break us.
If you’re someone who’s struggling to make ends meet, there’s a high chance that you’re in this situation because of the way you think about money subconsciously.
A lot of people in poverty are desperate for money externally, but actually have a negative relationship with money internally – with limiting beliefs about themselves and how much they are supposed to have in life.
After studying deeply about living the abundant life from books like “Think and Grow Rich” and the “The Richest Man In Babylon” and many other titles, it all boils down to these 11 principles.
These are the common denominators to 99% of the world’s highly successful millionaires.
1. Pay Yourself First
The broke pay their bills first, but the rich pay themselves first.
What does this mean?
It simply means that to become rich, you’ve got to value yourself first and incorporate a discipline of keeping aside money for yourself, which is not to be touched for any reason.
When you have this kind of relationship with ‘money’, then ‘money’ will value you.
When this becomes a habit, then you’ll be surprised how much money you can actually make, and pay off all your ‘so-called’ debts.
2. Invest Slowly & Regularly
Rome was not built in a day. It was built every day, brick by brick.
The true millionaires and billionaires of this world are not the ones overpowered by greed. They just happen to have the habit of growing their assets just like building Rome.
We’ve heard the phrase, slow and steady wins the race.
That’s how millionaires also treat their money.
Investing in Gold, Land and other businesses is how millionaires multiply their wealth.
3. Save & Invest
Once step 2 becomes practice, that’s when you’ll have the surplus to start investing.
When I read the book “Rich Dad Poor Dad” many years back, I realized the difference between an asset and a liability.
An asset is something which puts money in your pocket.
Whereas a liability is something which takes money away from your pocket.
Investing is something which you do to increase your assets.
Almost all millionaires have grown their wealth by investing their money in an asset.
4. Read Everyday
Did you know that Warren Buffet spends 80% of his day reading? He covers at least 500 pages a day, and this is normal for him.
Self-made millionaire Steve Siebold interviewed 1,200 of the world’s wealthiest people to find out what traits they shared. One trait nearly all of them had in common? They read everything from self-improvement books to autobiographies.
What goes in comes out.
When you read personal development books and consume content which is geared towards growing yourself, it’s the law of the universe to reciprocate.
Readers are leaders. Period.
5. Save Instead of Spend (Needs vs Wants)
It’s very easy to walk into a mall, look at your favorite iPhone, swipe your credit card and pick it up, without having a thought of how you’re going to pay for it.
The world’s top millionaires operate differently. They are usually the ones who are extremely careful when it comes to spending their money.
Millionaires clearly distinguish between needs & wants.
One principle I learned from Brian Tracy about spending money is to stagger the spend for a week, and still, if you feel you need it, only then you go ahead and buy it.
Yes, millionaires can be impulsive at times on their lavish lifestyle choices, but the deep core of their thoughts are that they would spend only if they knew they had the bandwidth.
The poor usually don’t have the discipline to save.
The middle class saves to just save.
The rich save to invest.
That’s the difference.
6. Have A Spending Plan
So what does one really need in life?
Food, shelter, clothing & entertainment. Beyond this there nothing else.
The poor and middle class usually do not have a clear spending plan like the millionaires.
Start by creating monthly budgets, and go to every detail that to you so that you do not overspend in any specific area.
There are apps like You Needs A Budget which has a great community that will help you live within your budgets.
7. Build Wealth, Not Status
Status is the by-product of creating wealth, not the opposite.
Usually, those who chase after status are the ones who are broke, coz they are the ones who will walk into stores and buy the most expensive stuff to show that they’re rich to society.
But the real millionaires are those who first create wealth.
They then invest and then when their investments produce passive income, then they buy symbols of status.
Like I said, status is usually the by-product of building wealth.
8. Focus On The Future
Knowledge is potential power. And millionaires usually have a keen eye on the future and where the world is going.
When you have a pulse on where the world is going, it becomes easier to position yourself on the winning side, as compared to being completely oblivious to what’s coming.
The Future doesn’t always have to relate to technology.
It can also mean long-term thinking on making both personal and professional decisions.
9. Eat Healthy & Exercise Daily
We all have 24hrs a day, but it’s how we use it that matters the most.
Usually, the start of the day sets the tone for the whole day.
And from my research was done, most millionaires have a strong morning routine.
When you start your day with a brisk exercise or workout, it releases hormones which boost your creativity and action taking abilities.
Daily exercise and eating healthy makes your mind and body optimal for executing productive work.
10. Give To Charity
The principle all millionaires realize early on is that ‘money’ is a form of energy, and in order to receive more energy, you’ll have to give it first.
This is a flow of energy.
When you give in charity, the energy circulates and brings you more.
The more your attached to money, the lesser it circulates and it goes the opposite way.
Real charity is all about giving without any want.
It’s about having the pure intention to just help others who are in need.
11. Avoid Bad Debt
The most basic principle to make your millions is ‘spend lesser than you earn’.
When you start to spend more than you earn, that’s when you start moving into the bad debt zone.
There’s good debt and bad debt.
Good debt is something which helps you grow further. Example: “Taking debt to buy a house which put in a monthly cash flow into your account”.
But bad debt is something which will cripple you. Example: “Buying a car or a house which is beyond your means – of current cash flow – and which does not put money into your pocket.
This also had to do with sense control.
Millionaires are millionaires because they have the power control their senses when it comes to making money decisions.
But the poor are those who are impulsive and emotional on subjects of money. And it’s this which gets them into poverty.
Conclusion – Final Thoughts
Your thoughts become things.
Your environment influences you more than your will power.
So be careful whom you listen to and associate with.
In order to become a millionaire, you’ve got to first change your money blueprint at a subconscious level.
By making these 11 tips into habits, you will automatically go into the fast track of creating wealth on-demand.
T Harv Eker’s 11 Principles
I got into the internet marketing space because it gives me the flexibility to create wealth and life the lifestyle I want.
The internet gives you the power to live a life of freedom and purpose.
Here’s a 3 step system which has created over 13 millionaires in the last 4 years.
Share this post and help spread the love!