How to Become a Millionaire with no money. A lot of people want to attain the status of million dollar net worth but don’t know how to go about it. The answer is simple—Make your money work for you , then save and invest the rest.
If you can do this, you will surely become a millionaire overnight, succeed in a few years and earn big. But you have to know how to go about it—the tactics, strategies and methods that will put your money to work for you. This article will show you one such method for becoming a millionaire without having an actual million dollars in your bank account—but with lots of potential in your pocket.
Create a wealth vision
“When riches begin to come they come so quickly, in such great abundance, that one wonders where they have been hiding during all those lean years.” — Napoleon Hill
Step one of becoming financially successful is to actually create a vision for yourself financially. Einstein said that imagination is more important than knowledge. Arden said creativity is more important than experience.
How much imagination do you have for your future?
Do you see huge potential and possibility for your life?
Or, do you see a pretty average life?
Creating a vision is an iterative process. You don’t just create a vision once and then never look at it again.
You continually create and write your vision — every single day.
Look at any area of your life in which you’re doing well, and you’ll find it’s because you see something beyond what you currently have. By that same token, look at any area of your life that isn’t exceptional, and you’ll find that you don’t see something beyond what you currently have.
Most people are living in and repeating the past.
Having a vision is focused on the future.
Your life and behavior immediately shift when you begin imagining a different future and stridently strive for it.
In order to do this, you must obliterate your need for consistency. From a psychological perspective, people generally feel the need to be viewed by others as consistent. This need causes people to retain behavioral patterns, environments, and relationships that are ultimately destructive and unsatisfying for far too long.
Instead, you could abandon your need to be viewed as consistent by others. You can be OK with the fact that you’re not perfect. You can be OK with messing up. You can be OK with having values you stand for and goals you want to accomplish, regardless of what those around you think.
Having a vision for your life means you no longer care what other people think of you. It means you’re ready to begin actually living the life you want. It means you’re no longer going to just go with the flow, as you have for most of your life. It means that regardless of what your parents, peers, and social environment have presented to you thus far, you’re going to create the life you want.
The more detailed your vision the better. The more quantifiable your vision the better.
Your brain really loves numbers and events. These are tangible. Thus, your vision should center around specific numbers and key events.
For example:
- “I will be making $1,000,000/year by January 1, 2022.”
- “I will get a check for over $100,000 by October 2020.”
- “I will take a six week vacation in Thailand in the next six months.”
Quantify it.
Measure it.
Get excited by it.
The more detailed the vision in your mind, the more believable it will be to you.
It’s OK if you don’t know exactly what you want right now. Having more money, creating powerful experiences, and continually growing as a person are all goals that will push you in the right direction.
As you build confidence through successive, small wins over time, your vision and imagination will expand.
Thus, in order for your vision to become clarified and congruent with your values and genuine desires, you’ll need to start building confidence.
That’s where the next step comes in.
Do the math
Next, crunch the numbers to see what it actually takes to reach seven-figures, or whatever your personal goal is.
“For any goal to be achievable, you must believe in its possibility as a realistic and doable goal,” writes Cardone. “The way to do this is simply by doing Million Dollar Math. How many different ways can you collect one million dollars?”
If you can figure out a way to get 5,000 people to buy a $200 product, you’d have $1 million, says Cardone. Or, if 5,000 people paid you $17 a month for 12 months, that would also get you to $1 million. Of course, these examples are highly simplified, but the point still stands: “Do the math to create possibility, then create strategy,” says Cardone.
Increase your income
“Once you’ve done the math and realize how real it is to get super rich, you need to focus on increasing your income streams,” writes Cardone. After all, self-made millionaires tend to have at least three sources of income.
“There are so many ways to increase your income today,” Cardone says, from “internet sales at home writing blogs, editing for authors, releasing a podcast … and on and on.” Additional streams could also be real-estate rentals, stock market investments, side businesses, or part-time jobs such as teaching a language or driving for Lyft.
Find out who has money and spend time with them
“Ask yourself: ‘Who’s got my money?’” writes Cardone. “Make a list of who has your money, the money you want, and figure out what you can exchange with them. Whether you have a service, a product, or an idea, the question to ask yourself is always: ‘Who’s got my money?’
“You don’t need to make money, you need to connect with those who’ve already collected money, who have money, and exchange what you have (skills and knowledge) with what they have (money).”
There’s no shortage of money, he says. The key is to get in front of those who have it — investors or potential buyers — and provide them with value.
Get your money mindset right
The mind is a powerful thing, especially when it comes to your money mindset. If you have a poor mindset you will continue making poor financial decisions keeping you poor and living paycheck to paycheck. You can change from a poor mindset to a rich mindset by developing the right habits.
A popular way to get motivated and create a rich mindset is to create a financial vision board. You will put up pictures, motivational quotes, and financial goals on your board and hang it where you see it every day. This helps you to see your financial goals daily and can keep you motivated.
Another way to improve your money mindset is to read how to become rich from other financial success stories. When you see others succeed, it can help motivate you to achieve financial success.
Create a financial plan
The biggest step on how to get rich from nothing is by creating a financial plan. The quote “If you fail to prepare, prepare to fail” proves true, especially when it comes to finances. If you ask someone who has done it how to become rich, they will advise you to create a financial plan by doing the following:
Set financial goals
To get started on creating your financial plan, you will want to set up your financial goals. It’s best to set short-term and long-term goals. By breaking down your long-term goals into smaller steps, it makes it easier to attain.
Pay off debt
Debt is expensive. Personal loans, credit card debt, and student loans can rack up thousands of dollars in interest payments. The secret on how to get rich from nothing is first becoming debt-free. By implementing a debt pay-off strategy, you can quickly pay off your debt and start working on becoming wealthy.
Start saving money
Ask a financially successful person how to become wealthy, and they are sure to answer with save your money. Saving money is a crucial step on how to get rich from nothing.
You don’t need to make tons of money to save. You can even save money on a tight budget. Once you get into the habit of saving, you can start building your bank account faster than you think.
Curb your spending
Learning how to curb your spending will help you to live below your means. Cutting expenses on items such as eating out, expensive coffee, designer clothing, and impulse purchases can help you save money. Doing things like making a grocery list to keep you from wasting food can be a big step in curbing your spending.
Live frugally
By living frugally, you can reach financial freedom fast. Being frugal means being intentional with your spending. You prioritize your spending and find ways to reduce your expenses.
Focus on results, not habits or processes
“In polite conversation, most of us will say we admire successful people for their hard work, positive habits, and ironclad principles. That’s not really true. It doesn’t take much digging to uncover a major disconnect between what most of us say we respect and how most of the icons of our age actually behave… Keep in mind that the only thing most people really care about is the score on the board. Everything else is hype.” — Forbes
It’s quite hilarious, really. Nowadays, you hear people talking about how goals and results don’t matter.
This is totally nonsense.
It’s also a lie.
It’s not about habits or processes. It’s about results.
The reason we admire certain people is because of the results they get. There are countless other people who have habits that are just as inspiring,” but who fail to produce powerful results.
Tim Ferriss, in his book “The 4-Hour Body,” defines what he calls “minimum viable dose.” Basically, this is the minimum amount of effort to produce the desired result. 212 degrees is all that is needed to boil an egg. Anything beyond that is wasted effort.
Therefore, what result do you desire?
What is the most effective way to get that result?
Rather than obsessing about the habits and processes, you want to gain clarity on the result you want, and then reverse-engineer how to achieve it.
It is the goal that determines the process, not the other way around. Moreover, it’s the results that also determine the process. If you’re not getting the desired result, then you need to adjust your process. Don’t be insane, doing the same things over and over and expecting different results.
Even still, we live in a culture that is obsessed with habits, hacks, and processes. None of these things make any sense in and of themselves. They only make sense in the context of a specific goal.
My process won’t look like your process, because my goals aren’t the same as your goals. My goals are what determine my process.
My habits won’t look like your habits, because my goals aren’t the same as your goals. My goals are what determine my habits.
When you get serious about big results, you stop obsessing about process altogether. Big and bold goals require ingenuity. They require courage to attempt stuff that might not work. They require going above and beyond anything you’ve ever done.
In reality, your goal is the process. You set a goal and that goal organizes your life. Once you hit it, you then set a new goal that re-organizes your life.
Goals are the means, not the end. They are means to growth and progress. Once you hit a goal, you take what you’ve learned and continue expanding.
Conclusion
How to become a millionaire overnight: There is one question that everybody is asking all over the world. That is about achieving success and money. honestly, most of you won’t understand what it really means until you finish reading this article. It was like that with me too! I didn’t get it until I finished reading this book. But by the end of it, I was motivated and inspired to do something I had never considered doing before.