It is true; a lot is needed if you want to become a millionaire: determination, dedication, persistence and a deep craving for making the most of one’s life.

Have you noticed that none of the above mentions any inheritances? Yes, you can become a millionaire without any … help from your deceased relatives!

Here are 12 things you must have in mind in your endeavors. Check them out!

Now, it is easier than ever.

Nowadays, becoming rich it is easier than ever, so there is no reason to put a spoke in your own wheel. There are a lot of money out there and so many different ways to become famous and well – known. So, that’s our first lesson: believe that they are out there waiting for you and it is not so difficult.

Saving is not enough.

The old “Skroutz” notion of saving every single penny is obsolete and ineffective now. You will reach your 80s before saving your way to the first million; an age that money is nothing but paper.

Spend less than you earn.

Just try to learn to live below your monthly revenue. Okay, saving won’t make you a millionaire, but neither will irrational spending. I have noticed that no one has decided to do business with me because of my attire, my watch or my expensive car. So, strive to live below your means. Make that a rule in your life.

Make the most of the tax regulations.

That is imperative. Familiarize with the tax code regulations and make the most of them. Stop nagging about taxes and try to find ways to make them work for you. The code was composed in a way that gives preference to earners. I have participated in numerous multi-level marketing companies when I was still an employee, so I could exploit write-offs, like my home and car. These were, and still remain,legal ways for reducing my taxes and possibly earning some more money.

Turn from income to investor.

The best way to become a millionaire is investing, but you won’t be able to do that if your income is not big enough to allow you to spare some money to invest. The secret then is to invest your money prudently in projects that you are almost certain they will pay back, and, for God’s sake, never give up your income!

Become a boss.

Stop behaving like a deprived-chap whose life was always “harsh” and “unloving”. Instead, start acting like a boss. Cultivate authority and status, even when you have to pay a bill or sign a check. 

Start a “savings – first” programme.

Talk and arrange things with your employer so that a part of your salary goes first into a savings account. Thus, you will have a part of your money deposited each month before getting any cash for your bills and monthly everyday needs. It is true that this hint will make you feel “broke” for some time, but it kept me trying to achieve more with my work and skills and helped me gather some money for investing.

Do not lose time.

Whatever you do, remember that laziness and “leisured gaits” will get you nowhere.

Do the math and plan your moves.

Do the math regarding what you will have to do to become a millionaire. For example, if you earn now €50,000 per year and can manage to find a way to put aside around 40 % of it (that is a high but feasible saving target) you will need approximately 50 years (€20,000 per year) to reach your goal. Not doing these kind of calculations won’t help, because you won’t have the proper way of thinking.

Do not spread like cancer.

Business diversification is quite popular nowadays, but it hardly works. If you want to become a millionaire before reaching your 80s, choose something you believe in and you know that is going to pay back your efforts, and commit yourself to that.

Search for numerous flows.

Searching for several flows will help you realize your financial freedom. Please, do not confuse number 10 with manifold flows. These flows must not clash, but be parallel in a sort of way. Of course, do not abandon your initial flow; instead try to transform it in a way that will demand less energy, effort and resources.

Do not spend money or tie them up in estates or colleges.

These are pitfalls. Do you know anyone that became a millionaire just from buying or switching homes?Do not allow popular traps immobilize you financially.

Everyone deserves financial freedom. Seek your goals with vigor without forgetting however that money is not enough for a happy and satisfying life.