Want to become wealthy. Learn how to become a millionaire with this great video. Indeed, this great video walks us through some basics of financial education. The author believes that understanding how finance works represent a strong guide to building wealth. Financial IQ is the key to building wealth. The video was realized in 2005 but the learning is still relevant today.
The great Robert Kiyosaki illustrates with sound arguments some of the truths we either are unaware or often forget. Even though the video is just an introduction, it does highlight what you need to do in others to improve your financial health. Definitely, to learn how to become a millionaire, you need to learn more about money management.
Surely, the road that leads to this achievement is long and challenging. But ultimately with patient and consistency, you can get there. But, I believe the key point here is financial education.
One of the most surprising thing I learn is our relationship to house ownership.
Second Step to how to become a millionaire
Once you’ve understood the basic financial principle. It is now time to apply them. Just follow the steps below:
4 simple steps
- Avoid debt
Truly, this is the most common trap most people in our society find themselves. Get it now, pay for it later. Typically, with interest. Certainly, this financial model has helped many transformed their lives but at what cost?
- Start early
As soon as you can start executing. The sooner you start, the better and faster you can achieve your goal.If you start putting away $300 a month beginning at age 25, you could reach millionaire status by age 60(Chris Hogan).
- Save money
Everything chance you have to save a few bucks every month take it. Don’t shy away from it. Always explore ways to cut your bills down from cable to electricity clothing and dining out. Be serious about cutting your bills down.
- Your environment
Be surrounded by like minded people.
- Work with a professional
If you can’t afford a professional, find a friend or person that can push you and keep you on track.
Nevertheless, there is no standard and predefined way to become a millionaire in 5 years. We all have our unique and separate paths. Yet, understanding some basics financial words is critical. But the most important is not how much you make but how you manage what you have.