The image that has been drawn of a millionaire from television and magazines is far from reality. The media have brought to the population a reality that cannot be extrapolated to the entire set of the world’s fortunes: people with luxury cars, jewelry, watches whose price is close to that of many people’s homes.
However, many people became rich by avoiding these extravagances. The only thing that prevents being a millionaire is the very idea of what it means to be a millionaire, as millionaire and best-selling author Phillip J. Müller explains.
The writer claims that anyone can be rich if he learns to think like a rich man. For him, becoming a millionaire is not a consequence of waste and bad financial attitudes. For Müller, it’s a matter of creating habits and maintaining a mindful consumer mentality. These are the 6 golden rules of this millionaire so that anyone can get rich, regardless of your salary, as collected by Insider.
1. Saving is essential
It is vital to get into the habit of saving as soon as possible. Maintain a proactive attitude and want increase the amount of savings As time goes by “It’s about thinking if you want to spend that money today on your fifth pair of shoes because you suddenly feel like you really need them, when in reality you will only use them once,” he explains.
It’s about thinking long-term, avoiding momentary and transitory rewards. For example, one of the aspects that Müller brings to the table is the habit of eating out. “Many people don’t realize how much money they can save if they decide to take food and drink from home to the office,” he says.
2. Avoid any type of debt
Debts are the brakes that prevent you from saving. Society tends excessively to borrow in petty situations. Some consumers who cannot afford a computer, decide to pay for it in installments, with the consequent interest, instead of understanding that they do not have the financial capacity to purchase it.
The writer’s advice is simple: “Don’t buy anything you can’t afford”. In addition, this routine will stop the saver from finding pleasure in banal whims. “You want a smartphone, but you don’t have the money to buy it? Then don’t buy it,” says Müller.
3. Do not go into debt to pay other debts
Before making a bad decision to settle a debt, it is convenient to take stock of your financial situation. It is useless to solve a payment obligation if, for this, the saver has to go back into debt.
The best option is to calculate the total value of the debt and examine the income so that a monthly amount can be set to use to pay off the debt.
4. Actively speak with creditors
It is advisable to contact the people or entities with whom the debt is maintained before they approach. “This will differentiate you from most debtors,” he explains. In other words, the saver has to be proactive.
In case of not being able to pay it is better to communicate it, since it is possible that the creditor provides payment facilities, such as reducing interest or increasing the average payment period. “If you owe something to someone, it will have negative effects on your life. Money is not just a medium of exchange, it is an energy that flows,” he says.
5. Consume consciously
Is vital be aware that each person is a potential consumer, to which thousands of inputs are presented per day. It is necessary to understand that a rich man is not one who owns the most expensive and extravagant items.
Don’t play the game of spending your savings on expensive cars and brand name watches. “Do you really need to spend two or three months of salary to go on vacation somewhere far away, when you could rest much better somewhere close to home?”, Explains the writer.
6. Exercise self-control and be aware of temptation
It is not bad to have temptations, the problem is in not having self-control and succumbing to all of them. A true saver cannot access all the offers that the market presents. Rather, it must maintain an attitude of restraint in these situations.
Müller explains that, if a person is not capable of self-control during sales times, the best option is not to go to this type of campaign, so it will be more difficult to fall into the temptation. In the same way, it is possible to layer the pages of online stores to avoid making impulse purchases in digital stores.
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