Becoming a millionaire is easier than you think. You don’t actually need to get a high-paying job or hit a stroke of luck and win a lottery ticket. It has nothing to do with your family’s money or where you acquired your degree. It has something to do with your mindset and perspective on how you look at things.
In order to become a millionaire, you need to allow time to work its magic. And if you want to hit your big financial goals, you would need to stay attentive to the little details over the long run.
Here are some tips to become a millionaire even as a teenager:
1. School Isn’t Going to Make You A Millionaire
You probably had your parents tell you that you need to get good grades in school, enter a top-performing university and take a white-collar degree— and doing these things are what would lead you to a highly profitable job and success.
They aren’t so wrong when they said this, but this advice was only relevant years back. Nowadays, people who get richer are those who stray away from the traditional path, and those who are educated only live a mediocre life.
In fact, such traditional indoctrination is the catalyst for why going to school and striving for good grades leaves people in a more destructive financial position than they have ever planned to be in. Thousands of students all over the globe are drowning in debt with no assurance that their efforts will give them profitable jobs.
The experience that a university can offer can be so thrilling but if you are someone who can’t afford to get into college, don’t lose hope — you can still become a millionaire. Not getting a degree isn’t a problem at all.
2. A Part-Time Or A Full-Time Job is Necessary
Let’s be frank here. You cannot start a business if you don’t have money. It does not matter how much you are making, no matter how big or small. However, you need to understand that earning money is going to be your key focus if you want to be a millionaire.
You need to start with a “small wealth,” which you could grow over time. Get as many jobs as you can and work your ass off. This way, you could move forward in your career. Sacrifice a little bit of your playtime and reap its benefits later. That’s the only way you could drastically climb up the ladder.
3. Learn to Live Below Your Means
One cliche ideal about American life is that we are frequently told how we can be more content and happier by spending money on things. Newspapers, magazines, signs, television, and even the internet are bombarded with messages that encourage us to spend money on things in order to be happy.
However, the reality is the opposite. In fact, people who overspend on material things tend to feel miserable and anxious, while people who are simply living below their means tend to feel happy and secure.
Simply put, you must not spend more money than you earn. Living below does not mean you can’t spend some cash on the things you adore to enjoy life. It’s basically just creating a more stable financial future while enjoying an “occasional” fancy dinner. It’s creating an extra budget, saving extra money, and cutting back on unnecessary expenses.
There are a lot of people out there who are sinking into debt with their credit card bills. These people ended up buying a lot of things that they don’t actually need like the new iPhone model and trendy clothes just to keep up with what’s new.
If you want to be a millionaire, you should learn how to practice delayed gratification. Engrave it into your mind that you don’t need to own the greatest things that this life has to offer at the moment. Knowing how to live below your means would help you save up a lot of money because you’re going to save expenses from the stuff that you don’t truly need.
Remember this: You don’t need to impress anybody.
4. Look For A Sales Job
No matter what meticulous thing you do, you’re not going to have an increase in finances if you’re working at a job with a fixed salary. According to the author of Rich Dad, Poor Dad, Robert Kiyosaki, getting a sales job is actually one of the best ways to get more money because you’re getting paid based on performance.
If you could perform in a performance-based sales job, you can earn a lot more than you could with a normal job with a fixed salary. At this stage of your life, you should make it your goal to make and save money as much as you can until you make your way to that millionaire status as quickly as possible.
Aside from earning bigger bucks, getting into a sales job also help you improve your selling skills, which is really important to be a millionaire.
5. Start Your Own Business
Once you acquire capital from saving hard, the next thing you need to do is to venture into the business world— start your own business. But not a traditional physical business, but one that is established online.
The only way you could actually maintain your millionaire standing is if you become an entrepreneur where you’re generating income outside of a job. Online businesses can be scaled ridiculously. You can literally just live in any country and sell to anyone in the world.
The volume that you can sell online is enormous because your target market could be 7 billion people all over the globe through the power of the internet. This is why starting a business online is the smartest thing you could do.
You can leverage advertisements, software, and tools, and create automation so you won’t necessarily need to work in your business all the time. These leverage points will enable you to scale to huge amounts.
