Becoming rich means you have to stop doing some things which are part of your daily routine. We all agree that becoming a millionaire is not easy, but we too understand wealth does not discriminate-anyone can be rich.
What exactly is required of you when the right path is a sure route to success? Here is a list of things you should stop immediately if you are planning to accumulate wealth.
Living beyond your means
For you to have more to save, you have to stop living beyond your means. If your monthly salary is $1, 000, make sure your full expenses do not exceed $500.This will demand that your buy a fuel efficient car, rent a cheap apartment and avoid careless spending.
The rich people I know avoid as much as possible to spend more than they save.
The second priority is to avoid alcohol, until you accumulate enough to sustain this kind of lifestyle.
Alcohol has been found to be one of the worst enemies of saving. Once you are addicted to alcohol chances of saving are minimal.
If you find it’s difficult to quit alcohol, join a nearby rehabilitation centre for treatment and counseling.
Another easy way of becoming a millionaire is to avoid women. If you are single and your salary is not enough to keep the women and remain for savings, don’t make a mistake of marrying at this point.
If you have girlfriends littered all over, chances of becoming poor are extremely high.
Betting is another thing which can cheat you into believing you would wake up a millionaire. The earlier you quit the habit the better.
Let me challenge you; show me any millionaire who is participating in betting?
Avoid spending too much time in campus
Millionaires are not necessarily the most educated. It happens that when you spend too much time in campus as a student, you end up losing focus. What is common among people who extend their education to PhD level is that they believe wealth only comes through employment. Millionaires will tell you the 10 years you will spend in college are enough to make $1 million from business.
The problem with our modern education is that even if you are a PhD holder you aren’t guaranteed decent pay.
Stop being generous
What I know is that rich people are not generous: they are too stingy to the extent of denying themselves decent lifestyle. This is because they know the effect of subtraction when it comes to cash.
Stop spending before you save
When you are targeting wealth it should be a norm that you save before spending, no matter how desperate you need the cash. This is the only secret the likes of Warren buffet and Bill Gates have that separate them from the poor.