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Millionaire Money Habits

• Financial Freedom Library
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8 Habits of Millionaires

» by Ryan in: Money Mindset

[pic][pic][pic][pic][pic][pic]In order to develop a Millionaire Mind, it helps to understand the habits ofmillionaires and simply mimic those behaviors. So let’s take a look at the characteristics and habits that are common among self-made millionaires. What are the fundamental rules that have made mostmillionaires their hard-earned money? And how do you develop these habits of millionaires in order to become one yourself:
1. Earn to Invest, Not Earn to Spend: Sadly most people work hard in order topay off their credit cards and support their lifestyles. The wealthy class understand that their money is better off being put to work in order to make more money and increase their net worth.
2.Have a Plan and Work the Plan: Self-made millionaire don’t normally become wealthy on accident. They are driven to become rich and formulate a plan to get them there over a lifetime of investing andaccumulating wealth.
3. Make More Money: Sounds obvious, but wealthy people are constantly seeking ways to produce additional income streams in order to put more money to work for them.
4.Understand Their Finances: The wealthy class are aware of their personal income statements, and know how much cash flow they have coming in and how much is going out.
5. Risk Takers: Measured risk isa must in order to increase your net worth. Without taking some chances, your money never has an opportunity to grow. Risk is never taken without an exit strategy and insurance to protect thedownside.
6. Patience: Self-made millionaires did not become that way overnight. They understand the power of compound interest, and that consistent investment effort will be rewarded.
7. Great...