Setting up your Millionaire Mindset

Do you ever wonder why some people are just lucky enough, or capable of making a lot of money, while many others struggle their entire lives and get nothing? Well, these millionaires got to have something different! It is the mindset, the way they perceive money and the way they use it. If you want to be one of them, you got to change your mindset, different from the others! You got to think and act like one of them, and I am sure, one day you will be truly a millionaire.

A millionaire mindset is very different from most people. Their mindset drives their energy to develop habits and actions so differently, that many others do not develop. Here are the main 5 characteristics of a millionaire mindset:

 

1. Invest more, spend less. Many people have always think that these people are stingy and selfish, in fact millionaires are very careful in their spending. They know that when money are spent, they will not get them back. But when it comes to investing money, investing in developing skills, through books, courses or workshops, they do not hesitate even a single second! They know that every cent they invest is going to bring them back more money!
2. Gratification. When you receive a pay rise, or a big bonus, do you spend more money ? I bet most of us will say Yes!  Increase in income usually mean increase in spending power. You feel that you have more money now to afford better things to satisfy yourself and make yourself happier, right? Millionaires don’t usually gratify themselves very often, they reuse their extra income to generate more income in the future! They can forget about a getting a sports car and aim to get a supercar in the next 5 years. Many of us cannot resist the temptation on spend all of the extra income to make ourselves happier. So in order to be like them, you got to work hard to kick this habit.
3. Eye for opportunities. Opportunities are almost everywhere, it’s the matter that if you can spot it and leverage on it. Millionaires are good at this, they act quickly when the opportunity comes and try to reap the most out of it. They are always on a constant lookout, wherever they go.
4. Perception of Failure and Risks. Failure to them are simply lesson learnt, they did not fail but they found out they did something wrongly and will try again. In fact millionaires failed more than most people do, because they keep trying and every failure made them stronger and better. Many people are fearful of risks. Its human nature but they think differently, risks to them are probabilities of delayed successes. If the risk is high, the chances of succeeded is delayed and not diminished, and millionaires do assessments and thoughts before taking on such risks. Calculated risks are essential, which will help them to decide if they can afford the wait before getting any return back.
5. Clear vision and goals. Millionaires are people with great plans, they plan ahead and manage well to keep their cashflows going and make good decisions. A clear vision is needed in order to make the right decision. Millionaires diligently do daily financial planning, manage their expenses regularly. They plan their financials well, and keep everything in place, taking control of things. And because they are clear of what they want, they can react to another issues or obstacles that come along, they can work out a better strategy when opportunites or obstacles come.

 

Clearly, the millionaire mindset is truly the fundamentals of being one of them. Some of them learnt from their parents or relatives, other learnt from their personal experiences and some others achieved it through personal development through books and seminars. They put into practice of what they believe and they excel from there. That is why some millionaires are bankrupts who eventually able to turn everything around and becoming more successful. They know that they have the millionaire mindset and with it, can create remarkable results. So if they can do it, you can do it too! We are not bankrupts and we are in far more better positions to succeed, if we adopt the same mindset as them!

 

                                       

There are a lot of great books talking about the millionaire mindsets. They share about the habits, the differences and the principles of millionaires and how to achieve them/ If you want more indepth knowledge of setting a great mindset, I highly recommend this two books,Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth and The Top 10 Distinctions Between Millionaires and the Middle Class, which covers the essentials and mindset differences and changes you will need to adopt, to be as successful as them. Don’t wait anymore, the opportunity is here today!