Advertising
Advertising

Want To Be A Millionaire? You Should Add These 10 Things To Your Bucket List

Want To Be A Millionaire? You Should Add These 10 Things To Your Bucket List

So you want to know how to become a millionaire, eh? With that kind of money, you’ll have the freedom everyone in the world desires. You’ll no longer have to work a job you hate just to pay the bills, or be forced to spend 8 or more hours a day sitting in an office cubicle – or in any other restraining setting. Here are 10 things you should turn into habits for making your first million dollars:

1. Start Generating Multiple Streams of Income

The wealthy are not dependant on any one source of income. They have multiple streams of revenue coming in, be that through a business they own, a property they invested in, or a blog they run. You must learn how to increase your revenue through multiple sources.

Advertising

2. Learn to Be More Frugal

Millionaires didn’t get to where they are by frivolously spending money on stupid things. You need to learn how to keep money in the bank. That doesn’t mean you aren’t going to spend it – oh no, it means you’ll spend a great deal of it. However, instead of buying a new car, clothes, or electronics, you’ll spend it on assets with a high return on invstment (ROI). Speaking on investing…

3. Save to Invest, Not Simply to Save

A millionaire’s worth is not merely the sum of cash in the bank plus the value of the things he owns. Yes, these things factor in. However, much of their worth comes from their assets; the businesses or items they own that make them money. Most millionaire’s are not savers – they are investors.

Advertising

Money sitting in the bank pays a pitiful amount of interest that will never amount to anything unless you have an incredibly high sum of it; and even then, investing it would still make you more money. With depreciation of the value of the dollar every year, you must invest money in order to gain from it.

4. Speaking of Investing – Invest in Yourself

Investing in assets outside of yourself is great – but bad things can happen. Your building can burn down, your supplier can quit, you could get sued. Once you’re out of assets, you lose. But what if you’ve invested in your own mind? If you’ve learned how to build a business yourself, rather than simply buying an existing one, that knowledge stays with you even if you lose the business. Buy more books, go to more seminars, watch more webinars, take an online course. Never stop learning.

Advertising

5. Stop Working to Make Someone Else Rich

Every day you go to work for a paycheck on Fridays (or whichever day). In the meantime, the owners of the business you’re working for are making bank. Stop making them all the money and start building a business of your own.

6. Set Goals and Review Them Daily

The biggest, most well-known and under-utilized secret of how to become a millionaire (or accomplish anything, for that matter) is writing goals down. Physically write them down on paper – but don’t stop there. You must review your progress daily, and make sure you’re on track every single day.

Advertising

7. Be Wary of Who You Befriend

They say your sum can be guessed as the average of the 10 closest people in your life. Whether that’s true or not, the company you keep definitely affects you a great deal. If you want to become a millionaire, you need to start hanging around people who know how to make money.

8. Learn the Language of Money

How can you ever expect to own a lot of money if you don’t know how to speak it’s language? Take an online accounting course or even buy some books. Take a free accounting course on Coursera.

9. Start Reading More

Leaders are readers. Warren Buffett reads 8 hours a day. He runs a book club with Bill Gates. If you need a place to start, check out Tai Lopez’s book list – I’ve read half of them and they’re amazing.

10. Think Big

Screw $1 million – shoot for $10 million. Have you ever heard the saying, “Shoot for the moon – even if you miss you’ll land among the stars”? It’s true. Set stretch goals and SMART goals.

More by this author

Bill Widmer

Content Marketing Expert

10 Signs You’re A Highly Rational Thinker Do You Know The Meaning Of Fruit Stickers? They Can Hugely Affect Your Health Still Believe Long Workout Is Good For Your Heart? You Should Exercise In This Way Instead! Uncertainty Makes You Anxious? 3 Ways To Face The Future With Confidence Easily Feel Drained? Beware Of These 10 Energy Suckers

Trending in Budget Activity

1 6 Easy Ways to Treat Yourself 2 7 Websites to Sell Used Stuff Profitably 3 Seven Tips to Save Money While Renovating Your Home 4 4 Ways to Make Every Penny Stretch in 2017 5 Getting Out of Debt in 4 Simple Steps

Read Next

Advertising
Advertising
Advertising

Last Updated on June 20, 2019

50 Businesses You Can Start In Your Spare Time

50 Businesses You Can Start In Your Spare Time

Most people want a few more dollars in their wallets. But between an employer and family, the time most of us can devote to a second job is severely limited. Running a small side business can provide a few more options: you don’t have to show up at a set time and you can use skills you already have. Not all will be perfect for everyone, of course, and I’m sure that you’ll have a few ideas of your own after reading this list. If you’d like to share any other business ideas, please add them in the comments.

  1. Selling collectibles — From antique books to teddy bears, there are plenty of opportunities to buy and sell collectibles. It’s important to familiarize yourself with the collectible of your choice but if you choose something that you’ve been collecting for a while, you’ve got a head start.
  2. Locating apartments — It can take time to sort through apartment listings, but you can make some money by finding the perfect apartment for a renter.
  3. Baby proofing — New parents often prefer to bring in an expert to make sure their home is safe for a new baby.
  4. Calligraphic writing — If you’ve got elegant handwriting, you can pick up gigs writing or addressing wedding invitations, holiday cards and more.
  5. Selling coupons — Search on eBay for coupons right now and you’ll see thousands of listings for coupons. It’s just a matter of clipping and listing what you find in your Sunday newspaper.
  6. Pet training — A surprising number of people don’t know where to start in training a pet. Even teaching Rover simple commands like ‘Sit’ and ‘Stay’ can bring in a few dollars.
  7. Running errands — A wide variety of people want to outsource their errands, from those folks who aren’t able to leave their homes easily to those who have a busy schedule.
  8. Researching family trees — Amateur genealogists often call in experts, especially to handle research that has to be done in person in a far off place. If you’re willing to go to a local church and copy a few records, you can handle many family tree research requests.
  9. Supplying firewood — The prerequisite for selling firewood is having a source of wood; if you’ve got some land where you can cut down a few trees, you’ve got a head start.
  10. Hauling — As more people trade in their SUVs for compact cars, hauling is becoming more important: people have to rent a truck or hire a hauler for even small loads.
  11. Image consulting — Image consultants provide a wide variety of services, ranging from offering advice on appearance to teaching etiquette.
  12. Menu planning — For many people, the trip up in eating home-cooked or healthy meals is knowing what to prepare. Meal planners set a schedule to solve certain dietary problems.
  13. Microfarming — Cultivating food and flowers on small plots of land allows you to sell produce easily.
  14. Offering notary public services — Notary publics can witness and authenticate documents: a service needed for all sorts of official documents.
  15. Teaching music — If you’re skilled with a musical instrument, you can earn money by offering lessons.
  16. Mystery shopping — Mystery shoppers check the conditions and service at a store and report back to the store’s higher-ups.
  17. Offering research services — Just by reading up on a topic and compiling a report on it can earn you money.
  18. Personal shopping — Personal shoppers typically select gifts, apparel and other products for clients, helping them save time.
  19. Pet breeding — Purebred pets can be quite value, especially if you can verify their pedigree.
  20. Removing snow — During the winter months, shoveling walks can still be a reliable way to earn money. You might be asked to take care of the driveway too.
  21. Utility auditing — As people become environmentally-concious, they want to know just how efficient their homes are. With some simple testing, you can tell them.
  22. Offering web hosting services — Providing server space can be lucrative, particularly if you can provide tech support to your clients.
  23. Cutting lawns — An old standby, cutting lawns and other landscaping services can provide a second income in the summer.
  24. Auctioning items on eBay — Want to get rid of all your old stuff? Stick it up on eBay and auction it off.
  25. Babysitting — Child care of all kinds, from babysitting to nannying, can offer constant opportunities.
  26. Freelance writing — If you’ve got the skills to write clearly, you can sell your pen for everything from blogs to advertising copy.
  27. Selling blog and website themes — Do a little designing on the side? Customers that don’t want to pay full price for a website will often pay for a template or theme.
  28. Offering computer help — Particularly with people new to computers, you can earn money by providing in-home computer help.
  29. Designing websites — It may require a little skilled effort, but designing websites remains a reliable source of income.
  30. Selling stock photography — For shutterbugs, an easy way to put a photography collection to work is to post it to a stock photography site.
  31. Freelance designing — Check with local businesses: you can provide brochures, business cards and other design work and get paid a good fee.
  32. Tutoring — Math and languages reamin the easiest subjects to find tutoring gigs for, but there is demand for other fields as well.
  33. Housesitting / petsitting — Stopping in to check on a house or pet can earn you some money, and maybe even a place to stay.
  34. Building niche websites — If you can put together a site on a very specific topic, you can put targeted ads on it and make money quickly.
  35. Translating — The variety of translating work available is huge: written word, on the spot and more is easy to find even on a part-time basis.
  36. Creating custom crafts — No matter what kind of crafts you make, there’s likely a market for it. Etsy remains one of the easiest places to sell crafts.
  37. Setting up a wi-fi hotspot — With a little bit of equipment, you can set up a wi-fi hotspot and charge your neighbors for the access they’ve been ‘borrowing.’
  38. Selling an e-book — You can write an e-book about almost anything and put it up for sale online.
  39. Affiliate marketing — If you’re willing to market other companies’ products, you can earn a cut of the sales.
  40. Renting out your spare room — From looking for a long-term roommate to listing your guest room on couch surfing sites, that spare room can make you money.
  41. Offering handy man services — Handling small household tasks can provide you with plenty of work, although you’ll probably be expected to have your own tools.
  42. Teaching an online class — Share your expertise through a website, an online seminar or variety of other methods.
  43. Building furniture — For those with the skill to create handmade furniture, selling their creations is often just a matter of advertising.
  44. Providing personal chef services — Personal chefs prepare meals ahead of time for customers, leaving their customers with a full freezer and no mess.
  45. Event planning — From planning corporate events to bar mitzvahs, an event planning business can require plenty of work and offer plenty of pay.
  46. Installing home safety products — Particularly as Baby Boomers age, people able to install handrails and other home safety products are in demand.
  47. Altering / tailoring — If your sewing skills are up to par, altering garments is coming back as people try to stretch more wear out of their clothing.
  48. Offering in-home beauty services — Hair cuts, makeup and other beauty services that can be performed at home have a growing demand.
  49. Business coaching — Helping others to establish and develop their businesses can provide many opportunities to earn money.
  50. Writing resumes — Writing resumes can provide a reliable income, especially if you can put a polish on a client’s credentials.

There are plenty of offers that claim to provide you with the opportunity to make thousands of dollars a week. Unfortunately, none of these businesses will provide that sort of income, but they aren’t scams either. They were chosen because they all require a minimum investment to get started — some require nothing more than a flyer advertising your business. Even better, if you do enjoy any of these businesses, there is a potential with most of them to continue to expand — perhaps even to the point of going full time.

Advertising

Featured photo credit: Omar Prestwich via unsplash.com

Advertising

Advertising

Read Next