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How To Live Like The Rich By Saving Your Money: Even Millionaires Do This

Is it possible to live like the rich even if you don’t make a million dollars?

You’re probably wondering how long it will take to save up every nickel, every dime you have lying around before you can buy a Ferrari, Gucci watch, or Hermes purse. But what if you could live like the rich without giving up vacations and without saving up each and every dollar you make?

Saving money isn’t just about collecting all your loose change because at the end of the day, a dime is still a dime, and a quarter is still a quarter. Most people think that the way to save themselves to riches is by putting money aside in savings, mutual funds or other investments.

Or, to be more extreme, they clip coupons. Sell items they don’t need to earn a few bucks here and there. Suggest cheap activities when meeting up with family and friends. But the problem with these actions is they train the mind for a scarcity mindset.

Living with a scarcity mindset won’t program your mind for wealth and abundance. To live like the rich, you need to set three goals.

Watch this video about how you can live like the rich.

Do you want to know how millionaires actually think? Click here to learn more about developing the millionaire mindset.

Goal 1: Increase Your Earning Ability

You can enjoy life as long as your first goal is to increase your earning ability every year. One way to do that is to develop a high income skill, such as copywriting or high ticket sales. These skills can get you an income of $10,000 or more a month. If you have a high income skill, you want to increase your yearly income by 10 percent at least.

Goal 2: Save More Than Last Year

Your second goal is to save more than you did last year. Every year you should save more than you did the year before.

Goal 3: Increase Amount You Save By Percentage

.Your third goal is to increase the amount you save by a percentage of your income. That’s the more important piece. You don’t need to be cheap and frugal to save up. Focus instead on increasing your earning ability by following the ratio and setting aside a percentage of your income to invest.

By setting these three goals, you will increase both your income and the amount you can spend. You can enjoy life. Buy nice things. No one looks good in a cheap suit, so so buy nice things.

How Much You Should Save

The amount you save matters. If you make less than $40,000 a year, and save 10 percent of your net income, this amount won’t mean much in 20 years with an inflation rate of about 2 percent a year. You’ll need to keep increasing your income and save even more.

Your target amount to save depends on your income.

After you’ve saved your target amount, you can spend and blow the rest as you choose to reward yourself.

The problem is people make X amount and spend even more. Their attitude is they can buy whatever they want. The truth is, it doesn’t matter how much they spend as long as they spend within their target amount and save much more.

How To Increase Your Income

The key to this plan is to increase your earning ability. What you need is a scalable business and a high income skill. The high income skill is what you fall back on.
Next, train yourself to set money aside. Some entrepreneurs open a bank account so they can make deposits but not withdrawals. This is where they put their business income. It takes discipline, but with this system, their income will grow. Their spending can also increase because their business and income are growing. This is the psychology of money.
Also, develop financial confidence. This means, in business deals, you appear confident, not desperate. If your prospect doesn’t do business with you, it doesn’t affect you. You have the mindset that your prospect has the problem and you’re the one presenting them with a solution.
With this attitude, money will come to you faster because money goes to those who don’t need it. You can charge higher prices for your offer because you can produce the results. People will want to do business with you because success attracts success. Then, when you have money, you can save and invest it.
Most people have a rainy day account that’s about 3 to 6 months of savings. It’s up to you how much to set aside. A measure of your wealth is if you were to stop working today, how long could you survive financially?
You can’t get rich looking poor.If you charge more for your offers, you up your game. You look more professional. You won’t have a second chance to make a first impression.
So to live like the rich, do what millionaires do. Increase your earning ability, save more than you did last year, and increase your savings each year by a percentage. These are the tips I teach my students who want to learn high income skills and have a millionaire mindset.

Do you want to know how millionaires actually think? Click here to learn more about developing the millionaire mindset.

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