The millionaire mindset is a much-coveted phrase to describe the difference between how successful people think, use their time, and interact with the world.
There’s a huge difference between the way millionaires think compared to the majority of people that are on the financial treadmill of being employed in a conventional job. One of the key determinants is that of delayed gratification, as many entrepreneurs will invest their resources into long-term assets; meaning they are trading short-term gratification for long-term reward.
Today, we live in a society where most people want instant gratification. Indeed, many online stores are now having to offer same-day delivery, as people are becoming so impatient they want things right away, and this is the same with all aspects of life and business.
The millionaire mindset is one of careful calculation, for instance, they will invest a considerable amount of time and money in promoting their business through billboard signs (which you can read more about here), but would be reluctant to waste money on a fancy meal, if they are just starting out.
Here are three ways to think more like a millionaire:
- DREAM BIG
Those with the millionaire mindset understand the importance of having big dreams, in life, as it’s just as possible to achieve a big dream as it is a small dream – it just tends to require a little more effort and action.
- ENVISION A PROSPEROUS FUTURE
Many highly successful people talk about the importance of affirmations and having tools such as vision boards to keep them on track – and not just their conscious mind, but their subconscious too.
Vision boards help you connect with what you want, and the fact they are visual is very helpful as your subconscious mind tends to think in pictures rather than words – meaning the more images you show it of what you want, and the more you think about what you want, the more able your subconscious mind is to get to work at creating the results you want in life.
- START INVESTING
A common misconception among people that don’t have much money is that you need lots of money in order to invest, but this isn’t the case – investing is a practice, and most financially successful people put a percentage of their income into investing; for instance, many people will siphon of 10-20% of their salary to go into investments.
Therefore, if you are earning $100 a week, or $100,000, the principle remains the same – it’s just the amount that’s different. There’s an idea that if you aren’t able to save 10% of $100 then you won’t be able to save 10% of $100,000 either. The point is, that investing is a practice, a mindset, and a strategy of wealth generating. It’s a habit.
That’s the main difference between the “rich and poor” – people with less money have a tendency to spend money, almost instantly, in order to derive pleasure and/or gain comfort in the immediate term… whereas wealthy people tend to invest their money and develop long-term assets; thus trading short-term pleasure for long-term stability.