Article on Becoming a Millionaire

Because money is at the forefront of nearly everyone’s minds at some point during their day, there is a LOT of information out there about money – how to make it, how to invest it, how to get rich quick, and how to become a millionaire (doesn’t that sound great!).

Like all information – there is some good stuff, and some ordinary stuff.  Here is a good article that has some very sensible advice – http://www.businessinsider.com.au/become-a-millionaire-by-age-30-2016-6.  It’s not fancy or sexy, although the title of the article is doing its best to grab your attention – a catchy title with some sound concepts on how to become wealthy.

Before I continue, I’d like to point out the difference between being wealthy and being rich.  Wealth is a lifestyle – it’s about being money wise and building a life that’s suited to your vision of your desired life. A life that is lived on your terms, aligned with your Core Values.

Being rich is just about money.  It can be very shallow and short-lived.  You could be up one year and down the next (more than likely your mood and relationships would be moving in parallel too).

The basic principles that it talks about are closely linked to the Five Money Pillars:

1. Focus first on earning (which also happens to be our 1^st Money Pillar!)
2. Save to Invest, not spend (this covers Money Pillars 3 and 4!)
3. Wait to buy luxuries – do you really need to have the best car right away, and go into a higher level of debt to do it???
4. Change your mindset about money – this is extremely important. Look at your money beliefs (I’ll talk about that more in the next article)
5. Invest in yourself – becoming educated is a gradual process. You won’t understand everything straight away, but you need to start somewhere.  Invest in your money education, and take back control of your money decisions
6. Set goals and visualise achieving them – as the saying goes, if you don’t know where you’re going, how will you get anywhere? While I don’t believe life to be this black and white, there is merit in having some idea of what you want, and looking for how to get there.

This article gives you another look into the fundamentals of taking charge of your finances and getting a step closer to living the life YOU choose.