For most of us, changing our current financial situation from zero to hero is something that often seems more like a pipe dream than a solid goal.
What you may not know however is that it is not impossible to achieve your dreams of making it big – what you need is the right attitude and a plan of action.
Whether you make your fortune through investments, cars, burgers, computers or even a brand new product that you plan to invent, these basic steps might just be all that is standing in the way of your success.
Step 1 – Develop the Right Attitude
If you are already thinking ‘I will never stop being poor’, then chances are very good that you mostly won’t ever get out of your current financial situation. If on the other hand, you are thinking ‘I can do this – I know I can do this!’ then you are off to a good start. Before you can start seeing change, you need to have the right attitude.
If you grew up poor, then you may not have a mind-set that is programmed for riches. This can be changed however. Start researching some of the world’s top millionaires, and start reading books on how to develop your own mindset that is programmed for success. This should give you the right attitude to keep working towards your financial goals.
Step 2 – Make Money
That’s right – you need to make money, so that you can start improving your financial life. Find out what opportunities you can use to make a passive income, think out of the box, and try to build your own business. This will ensure that there is no ceiling to your income, and will instead make it possible to grow your wealth to new heights.
Investments, affiliate marketing, online businesses and property are just some of the options that you could consider to help you boost your income online or offline. Work from home options (if they are solid opportunities of course) will also offer a way to build your income.
Step 3 – Spend Less Than You Earn
If you think that self-starters like Branson started driving around in flashy cars while they were still making their fortunes, think again. A smart money maker knows that the secret lies in ensuring that your income is always greater than your expenses.
This means making a few changes in your life – eat out less, walk to work if you can, stop wasting money on expensive lunches and take away coffee, shop at discount stores if you have to and be sensible. It won’t be like this forever, but until you have managed to save and grow your wealth, you need to spend as little of it as possible.
Step 4 – Save and Invest Your Money
While you are trying to cut costs and live within your means, you will also need to start putting as much money as possible away. Investment accounts and other savings accounts that offer a good interest are considered good places to keep your money.
These accounts should also be untouchable – in other words, you should not be using these accounts for your expenses. Keep this money aside, in what T. Harv Eker would call your “financial freedom account”, and continue to put money into that account every single month.
The most important thing is to not try and cheat yourself out of a better financial life by over-spending or not saving properly. Stick to your plan however. If you work hard towards implementing these four steps into everyday life, you should start noticing a difference in your finances over time.