Most people believe they can’t become a millionaire, but they’re wrong! In his new book, “Everyday Millionaires,” money expert, best-selling author and radio host Chris Hogan uncovers the secrets that everyday hardworking people use to grow wealth. Based on a survey of over 10,000 high-net-worth individuals, these are the key attributes of people who have become everyday millionaires:
They take personal responsibility
Becoming an everyday millionaire is not about inheritance or winning the DNA lottery — it’s about the person. Average millionaires take personal responsibility for their actions: when things go well they own it, and when they don’t they fix it. They don’t have a victim mentality or blame others for their mistakes. In short, they’re not looking to make excuses; they’re looking to make progress.
They practice intentionality with their finances
Everyday millionaires know you have to work your money or it will work you! They don’t just allow life to happen to them, they are deliberate and intentional in their financial actions: they budget, they save and they invest. As John Maxwell once said, “A budget is telling your money where to go, instead of wondering where it went.”
They’re goal oriented
Everyday millionaires have specific goals for their finances. They control the money in their hands. First, they prioritize getting out of debt because, when you free yourself of debt, you give yourself a raise. Then they focus on building up a three to six month emergency fund and investing a percentage of their household income into some type of retirement account. They know that it’s all about taking control of your money and getting it to work for you.
They’re hard workers
Everyday millionaires work hard. They know that we get to make choices for ourselves, not others, so they consistently make small, everyday decisions that move them closer to their goals. They work on themselves, growing in their knowledge and taking action steps to practice skill sets that bring proficiency. Practice builds proficiency, which builds competence, and that allows constant improvement.
They know that wealth building requires consistency over time
It’s a common misconception that a millionaire is somebody who inherited money or has a high-paying job. But that’s not true. Everyday millionaires build wealth over time and, most importantly, they have a plan for the money they make. Albert Einstein once said, “Compound interest is the 8th wonder of the world. He who understands it earns it. He who doesn’t pays it.” Everyday millionaires count on themselves, consistently use the opportunities that are in front of them and realize that you can’t become a millionaire overnight!
The average millionaire is an everyday hard-working man or woman who has built wealth over time. What decisions and small changes can you make today to bring you another step closer to your goal tomorrow? The American dream is alive and available — we just have to decide to grab it!
Listen to the latest episode of The Brian Buffini Show to hear more about how you too can become an “Everyday Millionaire.”Buffini & Company