Do you think Becoming a millionaire is p of tea? Then you are wrong! With little change in attitude and change of lifestyle you can easily transform yourself into a millionaire. Here are a few to help you become a millionaire this year!
- Evaluate your current financial status
The primary step is to evaluate your present financial status. To achieve something you should know where you are right now. Note down your current earnings, the amount you spend and the savings on a paper and create a financial plan with the current income. With this chart, analyze how much you spend and note down where you could spend less.
- Check out the ways to increase your current income
Without cutting down your coffee and burger, check for the ways to increase your income. May be you can grab a better position in your company that would suit you better and makes you more money. Also, check for the side hustle from which you get a constant earning.
- Find out new revenue streams
Do you think Millionaires have only one form of income? Absolutely no! May be rare, but most of them generate money from different streams. Think about different options which could bring you money e.g. Mentoring, blogging, renting a room, starting an online store and yeah you might have many ideas.
- Now Save!
Once you get into different income track, prepare an income chart splitting living costs, personal expenses and savings.
- Learn! Learn! Learn!
Learning new skill will leverage you current skills and it’s a way to become expert in your chosen filed. In order to do this, you need go through the same college chapters, but you can read more, listen to podcast, attend events and other conferences. If you are looking for a particular subject then you can do an online course.
- Make no debts
Newer spend on something until and unless you have budget for it. Keep aside your credit card for emergency rather than luxury
- Increase your network
Get associated with successful people even if they are in different field. In this way you can get more opportunities which may catapult you to success.
You cannot go to the next level by sitting on the same chair. So change your mind set to implement the above keyholes to reach the milestone of success.