Habits that Will Make You a Millionaire – Part III of 3

A few days ago I shared another three habits that will make you a millionaire. Today it’s time for the last three.

7. Frugality.

Live below your means. It seems so simple, yet it’s not easy. You cannot become a millionaire if you spend more than you earn. Period. It’s against the law of math and against the laws of nature.

My wife quit her job a month ago. I also downsized my day job income, and I took a big financial commitment joining an expensive mastermind (the fee is as high as my monthly mortgage payment). We still have means to support ourselves, but this situation literally freaks me out.

It doesn’t freak out most people. And that’s why most people are NOT millionaires. They are fine with financing their vacation trips or car purchases by creditors.

You cannot accumulate money if you spend it faster than it’s coming. You can earn 10 million dollars, but you still won’t be a millionaire if you spend it all and then borrow some more to satisfy your expensive tastes.

Live below your means. It’s simple.

8. Build Routines.

Successful people recognize the importance of habits. James Altucher is the only successful person I know who argues against habits… and he still practices them, but calls those disciplines differently.