By continuing your visit to this site, you accept the use of cookies. They ensure the proper functioning of our services and display relevant ads. Learn more about cookies and act

Not yet registered? Create a OverBlog!

Create my blog

The five secrets of self-made millionaires

Everyone wants to be a millionaire and everyone wonders how to become one. People keep following self-made millionaires like Warren Buffet, and aping their strategies with little luck. So, what are the secrets of success? How can a self-made millionaire ever make that kind of cash?

The secrets of self-made millionaires

Steely resolve Self-made millionaires always stay focused. They do everything they can to attain their goal and generate wealth from it. They may struggle while making ends meet, but they will not let that, or anything else, make them lose sight of their goals. One look at the background of today’s millionaires reveals that most of them are rags-to-riches stories. Financial knowledge Self-made millionaires learn financial skills even if they have graduated in a different discipline. Successful entrepreneur millionaire stories prove that they all went out to learn finance because they knew that money management was crucial. They put their head down and acquired financial skills because they wanted to live within their means, spending only a fraction of what they have earned, thereby saving the rest. Learning finance is one of the top millionaire secrets. Creating a new source of income Self-made millionaires and successful businessmen always create a new source of income. They do not want to rely on only one source, so they have a backup, which is something to fall back on. In doing this, they acquire a new set of skills which will help them in their wealth-generating goals. Being passionate Every self-made millionaire has followed his goals or his vocation with passion. Even when they have started late in life, they went after their goals in an earnest manner and with excitement. It is this passion which have kept them going even when it was hard, and it is the same passion which keeps them going today, even after they have earned enough for generations. The passion must be in full-throttle and it must never flag. Taking risks Self-made millionaires are creative people. Money-making ideas keep flashing in their head from time to time. If they are convinced that something will work, they make back-of-paper calculations and go for it. Time has shown that self-made millionaires staked almost everything they had on an idea, and it paid off because they were passionate about it, worked hard to attain their goals, lived within their means, and took calculated risks.

To sum up

If people want to become multi-millionaires, the first thing they must do is stop spending on useless goods and services. A buck saved is a buck earned, and many drops make an ocean. The secrets explained above will surely help in motivating people to become millionaires.

Same category articles Consumer culture

Buying guide: ID card holders

Buying guide: ID card holders

PVC ID photo card holders ensure that you hang on to one of the most important essentials that you have. If you want to give a gift to someone who’s a bit of a scatter brain, you won’t go wrong with this. It shows that you have put both thought and effort into choosing it, you could even buy one with a special meaning to them that really shows it’s a personalised gift just for them.
How to get cheap stuff in the UK

How to get cheap stuff in the UK

Everyone loves a bargain. Cheap stuff is attractive because it saves hard-earned money. Read this article and learn where and how you can get cheap stuff in the UK without sacrificing quality for low prices.
How to make the most of a public auto auction

How to make the most of a public auto auction

Public car auctions and auto auctions are great places to pick up deals on used cars. Automotive auctions occasionally get a bit of a bad reputation because of the hussle and bussle and the tendency to meet a lot of aggressive traders trying to get the best deals. However, if you follow some simple steps that this article outlines, you should give yourself a good chance of surviving.
A guide to using free loan calculators

A guide to using free loan calculators

After entering the determinants, a loan rates calculator enables the user to work out the cost of borrowing. You may feel that the loans APR is the most important factor, but few people appreciate the significance of the term. Entering a few simple variations will enable you to calculate the optimal amount you should borrow and over how long.