Making and saving money is not about your college degree or how many savings you can get. It’s about your attitude towards the money. Each millionaire has at least one thing in common, which is how they see money and how they handle it.
Understanding how the personal traits might influence your finances is an essential ingredient for the creation of wealth. So, with that said, here’s the list of characteristics that millionaires have in common:
1. Patience
Patience is one of the most valuable traits when it comes to saving and building wealth. It is often the difference between building savings and being in debt.
2. Satisfaction
When you’re satisfied, you have no reason to spend money on products or services that are not essential.
Millionaires can buy some of the most luxe things of the world, but they got their basic needs satisfied. Everything else is just another delicious icing on the cake.
Commercials are made to create demand inside of you that was never there in the first place, so don’t worry, it is natural that we try to reproduce the emotion we see on TV buy purchasing the products they’re trying to sell.
3. Organization
Staying organized will make you more productive and will ensure that every single issue related to finance are handled in an appropriate way. That basically means being always up to date with your payment dates and your calendar.
4. Discipline
Finances won’t make you rich instantly, but they’ll help you with the disciplined execution of your goals and plans for life. Do you think Steve Jobs as able to turn Apple into the huge tech company it is today without consistent discipline? Of course not, he followed a rigorous program that included Zen meditation and a strict diet. It is not a surprise then that Apple has become the leading company of the tech industry.
5. Reflectivity
It is crucial to be able to look back into your financial decisions and reflect about your results. You are going to make mistakes, it is inevitable, the key is to learn from those mistakes, being able to recognize them before they happen again and fix the problem that cause them.
6. Creativity
Creativity allow us to make something more durable, to make it faster and with less effort. It means making jingles faster and with money in order to avoid debt and finding a cheaper alternative when you’re running out of funds on your bank account. Think outside the box, sometimes conventional solutions won’t work to your advantage.
7. Curiosity
Having curiosity will keep you excited for learning more and improving yourself. Your thirst of knowledge and wisdom will keep you to thrive where other won’t.
8. Taking risks
In order to build wealth, you have to be able to take risks and make sacrifices. This doesn’t mean you have to blindly say yes to loan or an investment, but rather it’s about evaluating all the options and taking the based decision based on the risk/benefit relationship.
9. Focused on goals
Those who don’t have goals don’t have a route to take them where they want to go financially. Goals will help your personal finances if you have clear goals with money because they give you an additional incentive to making an effort for getting more.
10. Working hard and smart
The true road to financial heath is working enough to making money and, at the same time, educate yourself so that you can increase your net worth and, at the same time, increase your income.
You might not have all of the characteristic mentioned above, but don’t worry, now that you know them you can take advantage of your strengths and feed your weaknesses until you become a person who is an expert in finances.