1. Understand how money works.
Money is not a complicated topic, but not everyone really understand how it works. Do you? Sure, you can blame the school system or your parents, but the responsibility is still on you to figure out how money is made, how it is held, how it is invested and how it is preserved.
Self-made Billionaires and Millionaires understand that money is not something that is found or created by chance.
What to do? – Just Start by reading and understand “How it works”
2. Value your education.
You work all day and there simply isn’t enough time to get it all done. That’s the life of an entrepreneur, so something needs to be sacrificed.
All successful entrepreneurs Never stop learning, no matter how busy you are.
What to do? – Just find time to learn and never stop.
3. Do not live to your means.
Most of people lives to their means. You could make $500 per month or $25,000 per month and you’ll still be broke.
Self-made Billionaires and Millionaires have made a conscious decision to live on less than they make. Instead of upgrading their life every time they make more money, they choose to put that extra cash to work for them through various investments, such as their business, stocks, real estate or other assets.
What to do? – Create a solid monthly budget which must be less than you earn per month.
4. Collect assets.
A job or saving all your cash in a coffee can will never make you rich.
Start collecting Assets (a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit).
Your home, car or a new shiny gadget is not an asset, these are all Liabilities (for individuals – something someone is responsible for).
What to do? – Start collecting things that will make you money in the long term.