| Eve & Elle Admin
Women have a signature way of doing business and living their lifestyle. What works in business and life for a man can sometime backfire with extremely poor results when a woman does the exact same thing.
Don't believe me? Ask around you. Woman will share their experiences of exactly this phenomenon.
Which is why New York Times bestselling author Richard Paul Evans wrote his book on how to become a millionaire, especially for women. He knows about millionaires, wealth and how to get rich. Here are the top tips that we explain on how to live the millionaire lifestyle and become a millionaire.
#1 Decide to Be Wealthy
We all know about the law of attraction. This goes one step further. Well, it goes a whole journey of steps, but it begins with the first step.
If you want to become a Millionaire, you have to do more than want it. You need to decide it. That is your first in going and getting the wealth. So write it down:
"Today I decide to become wealthy"
Congratulations, you've taken your first step on your own personal journey to becoming wealthy.
#2 Take Responsibility for your Money and Wealth
Too many women are still in a foggy haze on their full financial overview. Not knowing how your finances are and how to build with money is not only pound foolish but a missed opportunity to build your wealth.
Get curious about money. Especially your own money. Start understanding how it works, start making it work hard for you, know what you have, as well as what assets you own (in whole or in part) and what those assets are worth. Start exploring how to use money to make you more money.
#3 Keep a portion of everything you earn
Accumulating wealth is so satisfying. Start creating nest eggs with everything you earn. When you get your paycheck, dividend payments, or come into some money unexpectedly, make sure that you pay yourself first. That means to save or set-aside part of your money as savings, and or as money to invest in something that will grow your wealth.
We looked at savings patterns across countries. From Canada and the States to all over Europe and South America. Savings range between 10% to as high as 25% in some countries. We recommend to save and invest at least 22% of your salary.
Now, a word on debt, as you are used to from Eve and Elle, we say:
- Pay down your debt
- Pay down the most expensive debt, with the highest interest rates first
- Call money lenders and ask if they will lower your debt, so you can pay it back more quickly
- Don't incur any more debt
- If you own a credit card, pay down all expenses in the same month
- Live within your means. Don't spend money frivolously that you don't have yourself.
#4 Win in the margins
Don't just make more money or save more money, spend less and enjoy what you do spend on more intensely. Doing this will already make you feel rich.
Do you have a hobby that could be a side source of income? Maybe you are registered and insured to give financial planning advice, or you are an amazing baker with a secret family recipe for donuts.
Whatever it is you do, if you already have guaranteed client orders, and are good at sales, you can set yourself up as a small business for a relatively small investment. Use your talent to win in the margins.
Also, do value yourself. Too many women undervalue their ideas, opinions and experience. You are more valuable than you give yourself credit for.
An important thing to realize is that the world is out to take your money. Don't let them! The basic formula of consumerism, is to consume products and services. Be selective. Make sure that you really want something before you purchase it. Spend within your means and make sure to actually enjoy and value whatever it is you choose to spend on.
#5 Have the Millionaire Mindset
Finally, to build your wealth in life, get rich and live the millionaire lifestyle right now, start having the millionaire mindset. Here are the 4 key aspects:
Mindset 1: Consider each expenditure very carefully
Mindset 2: A life of Financial Freedom and Money Power are better than momentary pleasure
Mindset 3: Realize that spending will not make you a happy or happier person
Mindset 4: Protect and grow your Nest Eggs
So the goal is...
The goal is to grow your wealth, stay out of debt, become rich and enjoy the purchases that you do make wholeheartedly.
Share with us. What is your nest egg investment? We love to hear from you.
Start with Step 1 and Decide to be wealthy
Step 1 of your journey is to decide to be wealthy. To help you with that we have prepared the motivational quote that will help you the most
"Today I decide to be wealthy"
Print out the version below with the background you like, and hag it somewhere that you see it every day. I have my quote framed because it look nice and then I notice it more.
Read it to yourself every morning as part of your daily routine, and every night before you go to bed. This way, you have started your journey already.