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Personal Finance Tips – How You Know You Are a Millionaire

Personal Finance Tips – How You Know You Are a Millionaire

Being a millionaire doesn’t mean only hefty bank accounts, big properties and flashy cars. It is just as much about attitude. These are the traits that can show you arrived in the select elite of rich people.

You can not become rich without these traits. And the good habits don’t disappear just because your bank account reached a seven-digit figure. You still don’t believe in financial shortcuts and you can smell a fishy financial scheme from a distance.

You are still conscious about your spending, and still assign your own value to different goods. And you have the power to say “no” if the price of an object is more than it is worth to you. Your financial goals are still written down.

You continue to work, and don’t understand those who say that if they were millionaires, they wouldn’t work. You may quit your job if you don’t like it, but you do something you really enjoy, because you know that work gives a sense of purpose and accomplishment in life.

You don’t try to keep up with anyone anymore. Your know what your values are, and you refuse to follow the crowd just because you want to fit in. You don’t see earning money as a competition: you focus on the things you want to do, and you are not interested in what others do.

No matter how much money you have, you still regularly update your goals. You know that growth is the only way to be insured against inflation and the devaluing of your money. You are still able to act on any changes may occur in your personal goals and priorities.

You don’t let anyone take care about your financial health. You do listen to advices, but you keep your financial authority only to yourself, because you know that nobody cares about your financial health as much as you do. In the same time you are conscious that it needs thought and energy to competently manage your money.

You have the ability to say “no” when you feel like it: not because you are a bad person, but you can see what is your and your requester’s best interest. If you feel that these requests have no guarantee that the investment will pay off, you can say “no” without feeling guilt.

You know that the secret of building wealth is maximizing returns while minimizing risk, so you don’t understand people who don’t maximize their returns because they are more risk-averse than you are. You know how to manage risk, so it doesn’t scare you.