Monday, September 13, 2010

Think like a millionaire

Often when we think of millionaire we think of lavish holidays, a HUGE house, the latest sports car, mobile and other gadgets, the latest fashions etc... but in reality that is not the case. Most millionaires are just like you and me. You probably have one on your street and you wouldn’t even know it.

Why?

Being a millionaire is not the same as having a million dollar lifestyle. To have the latest car, a huge house, lavish holidays etc... you need a constant source of income.

My aim in becoming a millionaire is not to have the latest of everything or to show off to everyone all my “things”. It is something I have wanted for a long time, but without setting it as a goal and applying myself I knew it wouldn’t happen.

In setting myself up as a millionaire I plan on creating income streams. I want to be able to not work, just live off my investments. To many, this sounds crazy and that it won’t happen. But it can and it is simply a matter of changing your mindset.

You see most millionaires have a very frugal mindset. They are not focused on the latest and greatest. They are focused on living within their means, saving money, paying down debt and investing.

This sounds easy enough but it can be quite a hard thought pattern to cultivate. We live in a world where we are bombarded with advertising everywhere we look and it is easy to get caught up in the “I need a new one” or “I have to have it” mindset. Big companies pay big dollars to create advertising that will make you think that. They rely on you wanting to keep up with or outdo the Joneses.

It can be quite difficult to change your thinking from “I need a new one” to, “I am happy with what I have and would rather put $xxx on my mortgage/invest for my future.”

I’m not saying deprive yourself of everything. I am just saying think about your purchases and how you spend your money.

The other part of your thinking you will need to change is the negative attitude. The “everyone can do it but me” or “I’ll never make it” thoughts will destroy any hope you have of becoming a millionaire.

Millionaires are winners. They think successfully. They visualise themselves at their end goal. They read their goals daily. They focus on the end result and what they can do.

Because everyone can do it, but not everyone does do it.

It is up to you. Do you want to be in the same position next year as you are now? If you don’t you need to start changing your mindset and changing your habits.

9 comments :

  1. Very good post! DH is starting to come round now we have bub#2 on the way. He used to want the biggest and best of everything but now we are making do more and stretching what we can. Nothing in our actual lifestyle has chaged we just dont have shiny things as much anymore lol

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  2. I love that line: Everyone can do it, but not everyone does do it...So true!

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  3. I just want to be able to get for my family what we need to get without worry. I want freedom to make financial decisions.

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  4. thank you for passing thru .. returning through to say hii and im following back..

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  5. Returning your follow. Thanks for stopping by. That little cute puppy you seen on my blog is my youngest of nine grandchildren. Hmmm Being a millionaire holds a lot of responsibility, but you see I feel like I'm a millionaire already because the wonderful life that I have now is priceless. Married to my soulmate, four wonderful children, nine grandchildren that I can spoil & send home! Life is good!

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  6. What a post. My thoughts on your blog. The mindset has to change. i don't want to be in the same position as I am in the moment. I have to work hard on setting the right. I have started and I just have to have discipline.

    Thanks for following me, I am following you back.

    Please join me in my Thoughtful Wednesday Blog Hop.

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  7. Thanks for stopping by and saying hi! My LO is a very old foto but it was that theme lol Pic that makes me happy

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  8. Hello, thank you for following my blog. I now follow yours. Mary O

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  9. Glad you all liked it.

    That's awesome Miggles.

    I love that too Katiegirl. It makes me act instead of just think.

    Kristy, the freedom is my ultimate.

    Xmas Dolly, your life is truly rich. I feel mine is too with my kids. They are the most important thing to me.

    MsBaby Plan, good luck. I'll join in next week. Thanks.

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