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

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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.

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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.

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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.

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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.

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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.

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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.

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Bill Widmer

Content Marketing Expert

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Last Updated on January 5, 2022

33 Painless Ways to Save Money Now

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33 Painless Ways to Save Money Now

In a difficult economy, most of us are looking for ways to put more money in our pockets, but we don’t want to feel like misers. We don’t want to drastically alter our lifestyles either. We want it fast and we want it easy. Small savings can add up and big savings can feel like winning the lottery, just without all of the taxes.

Some easy ways to save money:

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  1. Online rebate sites. Many online sites offer cash back rebates and online coupons as well. MrRebates and Ebates are two I like, but there are many others.
  2. Sign up for customer rewards. Many of your favorite stores offer customer rewards on products you already buy. Take advantage.
  3. Switch to compact fluorescent bulbs. The extra cost up front is worth the energy savings later on.
  4. Turn off power strips and electronic devices when not in use.
  5. Buy a programmable thermostat. Set it to lower the heat or raise the AC when you’re not home.
  6. Make coffee at home. Those lattes and caramel macchiatos add up to quite a bit of dough over the year.
  7. Switch banks. Shop around for better interest rates, lower fees and better customer perks. Don’t forget to look for free online banking and ease of depositing and withdrawing money.
  8. Clip coupons: Saving a couple dollars here and there can start to add up. As long as you’re going to buy the products anyway, why not save money?
  9. Pack your lunch. Bring your lunch to work with you a few days a week, rather than buy it.
  10. Eat at home. We’re busier than ever, but cooking meals at home is healthier and much cheaper than take-out or going out. Plus, with all of the freezer and pre-made options, it’s almost as fast as drive-thru.
  11. Have leftovers night. Save your leftovers from a few meals and have a “leftover dinner.” It’s a free meal!
  12. Buy store brands: Many generic or store brands are actually just as good as name brands and considerably cheaper.
  13. Ditch bottled water. Drink tap water if it’s good quality, buy a filter if it’s not. Get 
      a reusable water bottle and refill it.
    • Avoid vending machines: The items are usually over-priced.
    • Take in a matinee. Afternoon movie showings are cheaper than evening times.
    • Re-examine your cable bill. Cancel extra cable or satellite channels you don’t watch. Watch the “on demand” movie purchases too.
    • Use online bill pay. Most banks offer free online bill paying. Save on stamps and checks, and avoid late fees by automating bill payment.
    • Buy frequently used items in bulk. You get a lower per item price and eliminate extra trips to the store later on.
    • Fully utilize the library. Borrowing books is much cheaper than buying them, but in addition to books, most local libraries now lend movies and games.
    • Cancel magazine/newspaper subscriptions: Re-evaluate your subscriptions. Cancel those you don’t read and consider reading some of the other publications online.
    • Get rid of your land-line. Do you really need a land-line anymore if everyone in the family has a cell phone? Alternatively, look into using VOIP or getting a cheaper plan.
    • Better fuel efficiency. Check the air pressure in your tires, keep up with proper auto maintenance, and slow down. Driving even 5MPH slower will result in better fuel mileage.
    • Increase your deductibles. Increasing the insurance deductibles on your homeowners and auto insurance policies lowers premiums significantly. Just make sure you choose a deductible that you can afford should an emergency happen.
    • Choose lunch over dinner. If you do want to dine out occasionally, go at lunchtime rather than dinnertime. Lunch prices are usually cheaper.
    • Buy used:  Whether it’s something small like a vintage dress or a video game or something big like a car or furniture, consider buying it used. You can often get “nearly new” for a fraction of the cost.
    • Stick to the list. Make a list before you go shopping and don’t buy anything that’s not on the list unless it’s a once in a lifetime, killer deal.
    • Tame the impulse. Use a self-enforced waiting period whenever you’re tempted to make an unplanned purchase. Wait for a week and see if you still want the item.
    • Don’t be afraid to ask. Ask to have fees waived, ask for a discount, ask for a lower interest rate on your credit card.
    • Repair rather than replace. You can find directions on how to fix almost anything on the internet. Do your homework, and then bring out your inner handyman.
    • Trade with your neighbors. Borrow tools or equipment that you use infrequently and swap things like babysitting with your neighbors.
    • Swap online. Use sites like PaperBack Swap to trade books, music, and movies with others online. Also, look for local community sites like Freecycle where people give away items they no longer need.
    • Cut back on the meat. Try eating a one or two meatless meals every week or cut back on the meat portions. Meat is usually the most expensive part of the meal.
    • Comparison shop: Get in the habit of checking prices before you buy. See if you can get a better price at another store or look online.

    Remember that saving money is not about being cheap or stingy; it’s about putting money into your bank account rather than giving it to someone else. There are many ways to save money, some you’ve never thought of, and some that won’t appeal or apply to you. Just pick a few of the ideas that sound doable and watch the savings add up. Save big, save small, but save wherever you can.

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    Featured photo credit: Damir Spanic via unsplash.com

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