You want to be a millionaire, is that right? Well, although there are millions and millions of reais circulating there, it is not so impressive to think of this as no part of that money is not in our hands. In fact, according to Credit Suisse bank, around 164 thousand Brazilians have more than US $ 1 million dollars and that number of millionaires in Brazil could reach 296 thousand by 2022.
164 thousand people are undoubtedly many people and chances are that one or two of them live close to you. One of them may even be your neighbor. In fact, chances are very high that you know or work for at least one of them. I have a rich neighbor, he’s rich, and sometimes we talk to each other doing gym.
Here are some of the things he shared with me, but apparently he does not want to tell him that it will work for everyone, after all each person has a profile. (No offense, I’m sure of it)
What your millionaire neighbor will never tell you
1 . He always spends less money than he earns. In fact this mantra works in the long run, you’ll be better off striving to be anonymously rich instead of struggling to appear to be very rich.
2 . He knows that patience is the greatest virtue. Chances are you will not become a millionaire overnight. If you are like him, your wealth will gradually accumulate, guarding and multiplying your money with diligence for several years and even decades.
3 . There is nothing wrong with eating, drinking and dressing well, but no one financially balanced needs to get the admiration of others boasting expensive cars, clothing brands, famous brands and other chic items.
4 . It pays all credit card bills in full each month and at maturity. He is smart enough to understand that if he has a credit card it is because he can afford the cost of every purchase made with the plastic.
5 . He realized earlier that money does not buy happiness. If you are looking for paradise, you need to focus on first achieving your financial freedom.
6 . He never forgets that financial freedom is a state of mind that comes to being debt free. And best of all, it can be achieved regardless of the value of your income.
7 . He knows that getting a second job or new business not only increases the size of your bank account faster but also keeps you busy and focused on goals – being busy makes it harder to get out spending the money you own.
Money is unable to self-administer
8 . He understands that money is like a small child – it is incapable of administering. After all, you can not be a millionaire hoping that your money grows and matures as it should without some form of insightful and intelligent management.
9 . He is a great evangelist to pay himself first. Paying yourself first is one of the essential principles of personal finance and a great way to build your savings with financial discipline.
10 . Although it is possible to get rich by doing something you do not like, he always wonders why he is doing it. Life is too short, you can always change course.
11 . He knows that not planning is the same as going into the abyss. He also knows that the few millionaires who have come to wealth without a plan have come there only because of luck, and that happens with only 0.3% of millionaires. It is not enough simply to believe or declare that you want to be financially free.
12 . When it came time to set his goals to save money, he was not afraid to put into action. Financial success requires that you have a vision that is significantly greater than you can currently understand.
To be a millionaire work hard, have a plan and be objective
13 . Over time, he has discovered that hard work can often help make up for many financial mistakes – and you are sure to make financial mistakes, it remains to be seen whether it will work hard.
14 . He knows what things are going on, which is why you are a fool if you do not hold back from the risks. Remember that the potential for bankruptcy is always just around the corner and can be triggered from multiple sources: breach of contract, loss of vendor, death of the best seller, divorce or accidents can take away everything at a time .
15 . He understands that this new time is an ally of the young. He was lucky enough to start saving money in his early twenties so he could make the most of the rest of his life.
16 . He knows you can not spend what you do not see. You should use automatic deductions private insurance payments to increase your retirement and have other savings accounts. As your income increases, you can also increase the amount deducted inconspicuously.
17 . Even though he has a job he loves, he does not have to work anymore because everything he owns is paid for – and this has been done for years.
18 . He is not impressed by someone driving a luxury car at an exorbitant price. Living with a semi-new car will take you to the same place. Have only the necessary car to help you get around comfortably and safely.
Be a new millionaire too
Then that’s it. Now that you know what your millionaire neighbor would not tell you, it’s time to do the right thing and start your plan to make your life lighter and easier to conduct, and the first step is to ensure financial stability. Only then can you stay as millionaires and have lots of money.