How you can become a millionaire by 20 In Simple Steps
Have you ever thought of how proud you would be if you are able to become a millionaire by 20 years? I can bet you that you would be extremely proud of yourself. However, it is not necessary that you participate in a game show, reality show or a lottery before you can be a millionaire at age 20 years. I will show you ideas that helped me achieve the millionaire goal before I was 24.
The majority if not all of the youths we have in the world today have big dreams and high expectations regarding making money. Just like we have the facebook owner, Mark Zuckerberg, who made a million dollar at his young age, you too can make a make a million in any currency depending on the efforts you put in at your young age.
There are lazy and deceitful ways to become a millionaire by 20 years, but I don’t think that as a self-sustaining way. You would get busted along the way and sent to jail. But no, I would only be listing what you are to take into account if you want to hit your first million dollars even before age 20. Like I said earlier, you do not have to participate in a reality show or contest in a lottery game before you can make a million in any currency at a young age.
Carefully study the steps below and see for yourself how people who were able to become millionaires by 20 years were able to achieve it. It doesn’t take much if you follow the right steps.
The 10 Simple Hacks That would help You Become a millionaire by 20 Years
This is the first and important point to consider if you are ready to become a millionaire by 20 years. You must be able to draw out our plans out on what you would like to do. Your plans may include; Where you would stay, When and who would you marry, Going to school or diving straight into a business and so on.
Make sure you write down your aims and goals in life and endeavor to read it every day so that you would be driven positively to achieve your goals.
In addition, your plans should not be hindered by the friends you keep and the girl you go out with. Make sure you prioritize your future and keep away from the people that want your downfall or those that are not willing to think about their future.
Manage your money
Every young millionaire aspirant in one way or the other is always very economical with what they have in their pockets. You must be disciplined as well as having the ability to manage your money. Also, ask yourself questions related to the type of business you can go into and make a substantial amount of money.
It is also necessary you have different passive income streams so that your money can be doubled every month or so. Try to invest in a business that is less risky and with a high return on investment.
All those questions, when answered correctly, would be beneficial towards your pursuit of being a millionaire by 20.
Be equipped with money
You need to look for ways to make more money. Even if you are making small money, you are expected to double your income by getting involved with passive income streams.
It is not so easy to be saving your money and become a millionaire and that is why it is important to work and make money.
Save your money to invest
It is important for you to save to invest in businesses you know will yield a profit for you rather than saving for savings sake. Do not save your money to buy a car, an expensive phone or any other flashy thing. You could also save and put the money into an account specifically meant for saving.
And do not try to touch that money even when an emergency call for it, except for investments that matter and will yield profits.
Do not spend unnecessarily
Yes, this is a very important point if you wish to become a millionaire by 20 years. Learn to spend wisely, do not spend your money on things that are not really important at your age. Examples include purchasing cars.
Wait till you become a millionaire before buying that expensive car you have dreamt of.
Have a mentor that is a millionaire
It is no surprise that a significant number of the public were raised with parents who are poor or managing life. So it is important to find a mentor who became a millionaire by 20 years. They would help you shape your ideas and show you what to do right and the right path to follow.
Your millionaire mentor should inspire you in becoming a millionaire by 20 through inspiring messages and determination. Endeavor to widen your scope of making money and do not settle for anything less.
Never go into Debt
Make this point your base, do not try to owe other people money no matter how small the money might be. Owning people money could deprive you of the chance to become a millionaire.
If you know you do not have money and you are desperate for a particular thing, I will advise you not to buy that thing on credit. If you go into debt, always find a way out through the ideas I have given on this blog.
Make money your best friend
Even if people are telling you that you are a lover of money, tell them also that you are Ok with that.
Let nobody make you lose your drive to make money, in fact, shut that person out of your life. Let money be your driving force in every situation you find yourself in.
Do not have a poor mentality
Do not ever make the mistake of thinking that you are poor or make the mistake of thinking where you came from.
Always have the mentality that you want to make it big and work towards it. And I bet you, within the period of time you set for yourself, you would certainly make it.
Aim high and not low
Majority of the aspiring millionaires often aim for just a million, and that is the one mistake people make. Do not aim for just for a million, aim towards 50 million dollars and work towards it.
The reason being that if you aim just a million, you might not reach that figure. But if you aim for 50 million dollars, you could make over a million dollar even if you do not attain your initial goal.
This post has clearly detailed out the steps on how to become a millionaire by 20. The fact is that you remain focused on your dreams. Learn to stay far away from people who don’t share the same vision as you do. Do not be so quick to make money, but work hard to make the money you solely crave for.
If you wish to get more tips, you can subscribe to my weekly newsletters and more life hacks on finances