DEVELOPING A MILLIONARE MINDSET TO ACHIEVE FINANCIAL INDEPENDENCE

While we were growing up, my mother had this wonderful quote which taught all her children “it is better for you to grow rich than to become rich”. As young people we did not understand what she was saying but as I got older, I was able to deduce the exact meaning of the phrase.

In our society today, most wealthy people you see today developed the habit of getting rich slow rather than growing rich. According to Brian Tracy, there are two rules with regard to money. Rule number 1: Don’t loose money. Rule number 2: If ever you feel tempted, refer to rule number 1.

Cultivating a millionaire mindset is very important and one of the best financial habits you can develop is the habit of getting good financial advice before taking any decision on your growing account. Make sure you have a very good financial adviser, one who has attained financial independence by investing his or her money in area he or she recommends to you. Don’t spend your money on trivialities. Remember that the people that clapped and praised you while you squandered your hard earned money  as you are trying to make a big splash are the same people that will laugh at you when you go into bankruptcy.

When your investment starts to yield interest, remember to protect your investments from unnecessary taxes and frivolous law suits. Always ensure you follow proper procedure in your finances especially with your dealings with associates and friends. Ensure you do a meticulous analysis of every expenditure before you embark on it. Remember “if you want to be a millionaire, you have to think like a millionaire”. A popular Igbo adage says: “You don’t loose your investment in your bid to become wealthy”.

Develop the habit of using WPO which simply means the “Worst Possible Situation” by ensuring you will not be caught off guard by bad investment, unexpected accident or emergency. I want to let you into one secret here, where an average adult speeds 2 to 3 hours daily studying & thinking about their money, most times this happens during the time to pay bills, the average self-made millionaire spends 20 to 30 hours every month thinking, planning and studying his finances.

Develop a savings culture. “Anyone can save, and the effort you make saving a percentage of your income gives you a true knowledge of the value of money. Savings also prepares you to handle many opportunities which otherwise might slip by” Napoleon Hill.

In the world today, especially in our different localities most people are living beyond their means. They want to be among those that has arrived and as such forget to cut their coat according to their material. They are living fake life or we can say a make believe life.

The financial independence that you’ve dream about all your life is easy to obtain – just learn to develop a “millionaire mindset”! Achieving financial independence by developing the “millionaire mindset” is, in itself, a great goal. However, it is not the most important thing. What’s important is the person that you have to become, in terms of courage, character, thoughtfulness, and persistence. By becoming financially successful over a long period of time, you will feel true happiness and self-satisfaction with every other part of your life. This is the most worthwhile goal of all. – Dougles Chan