Millionaire Minds – How To Have One?

Does wealth really start from within the mind? Let’s take a look at what differentiates millionaire minds from the average Joe or Jane’s.

Thinking yourself rich isn’t just a possibility. It’s actually one of the best ways to accumulate a substantial amount of wealth. Which one of us doesn’t aspire to own a sea front mansion, and wear luxurious suits that express dominance and confidence?

Now how many of us want to have all that money can buy. WITHOUT having to sacrifice all what we need to have today. All simply on the premise that our savings simply can’t help us achieve the lifestyle we dream of?

Can you relate?

If so then a change is in order. As with everything in life, the root of the change needs to come from your mind. More specifically, your mindset. Let me ask you a question. You may dream of endless wealth, but what steps have you taken to reach that goal?

Have you considered the idea that perhaps your approach is wrong?

How Millionaire Minds Perceive Wealth and Career?

How Millionaire Minds Perceive Wealth and Career?
How Millionaire Minds Perceive Wealth and Career?

If you ask the next person you see walking down the street the question “what do you think you would need to grow your wealth?”. The majority of the responses would be to improve your job prospects.

Don’t get me wrong, that is not such a bad idea. It is one way of increasing income. A higher salary with better benefits would in theory mean more money that you can spend, no doubt.

However, this is a tiny, minuscule, insignificant step within the wealth formula! How much your salary is and how great is your wealth, don’t often correlate. There is a connection. However, it’s not exactly as clear cut as most of us would think. So what is the formula of wealth?

Earnings – Expenses = Wealth

Based on this formula let’s put in some figures. If we assume that your salary is $2,000. You buy clothes for $500. Then spend another $500 on nights out.

Later on, youuu take your significant other on a couple of dates for $5,00. Now let’s feed these figures into the formula.

$2000 – $1,500 = $500

So if we consider the fact that we haven’t factored in food, rent, gas, etc. where do you stand? Are you in fact poorer or richer this month than the last?

I know this is a very grim way to look at it, and maybe this doesn’t represent your life, but how many people do you at least know of that literally live paycheck-to-paycheck?

How many people in this world are faced with an emergency that requires some cash and they don’t have it on hand!

Let’s assume you get a better job for a 25% increase in your salary over the current one. Would you still be in a better position? Like really better?

If we take the same numbers and cut your expenses down to half your salary. Then save the remaining $1,000. That’s $12,000 per year. Now that new job doesn’t look too bad does it?

Millionaire minds don’t treat money the same way we do, they know when and where to spend their money.

Don’t worry though, this article will not only speak about saving, we’ll also talk about mindset tweaks to earn more that you would with just a better job.

How People With Millionaire Minds Spend Less

How People With Millionaire Minds Spend Less

I heard a very interesting story about a billionaire business man from someone that used to do his accounting. I live in Egypt right now, it’s common practice here to tip the gentleman who fills up your gas tank for you at the gas station.

The norm is giving them 5 Egyptian Pounds (around 30 cents or so) or more depending on how generous you feel.

So this businessman was often at the habit of paying 1 Egyptian Pound (6 cents approximately) once one of the gentlemen told him, “you drive such a luxurious car and this is all you give me?” to which the businessman responded “is this tip your right?

If you can convince me that it is your right I will give you more”.

This was very interesting for me to hear because that businessman is a very charitable person. He is well known for his good deeds.

So what’s the point here?

Charity is one thing, giving to people who are really in need and is something we must all do if we have any good in our heart. A tip for the gas station worker on the other hand is not an obligation. This is how millionaire minds think!

Does that mean I am telling you to be a jerk here? NO! It’s just an extreme example to a mindset that you need to acquire.

Spend the money when it needs to be spent. We often spend a lot of money trying to look good in front of people who we don’t even know and will probably never see again.

To become a millionaire we need to think like one, and more importantly spend like one.

That Ferrari he/she is driving didn’t come from a loan they couldn’t pay, heck I’m willing to bet they didn’t even think of driving a Ferrari until it put a dent in their bank account as small as bicycle would put in yours.

Are Millionaire Minds, Stingy Minds?

I’m not telling you that you need to be a horrible person and skimp on tips or anything like that. However, I am simply demonstrating that the so-called “privileged to 1%” of people in this world are the ones who understand the value of money.

They get that those small amounts here and there add up. Have you ever tried to calculate how much you spend on your daily designer coffee? How about over the period of a month? Let alone a year?

These numbers may look negligible and alone they are. Now if we factor in clothes, app subscriptions, that game you bought coins with real money, Netflix, etc.? $1 here, $2 there and you find that you’ve spent a substantial part of your income.

If we are being honest on the pyramids of human needs like survival, shelter, etc.? How high do these things rank up? High enough to justify such a percentage of your income being spent on them?

Don’t even get me started on impulse purchases. You know, the ones we make for obscene amounts of money every year! Things that will serve no more of a purpose than to make us look cool and trendy.

Hey, I’ve been there myself! I once bought 2 designer suits for close to $3,000. I felt they would make me look important.

The irony is that the next day at the office, no one noticed. Moreover, I looked no different than anyone wearing a $500 suit.

No one really asks you to show them the label on the inside pocket, do they?

That new iPhone or laptop, in a month or 2 will be just another phone or laptop.

Especially, once a newer version or better device comes up from a competitor (e.g. Samsung). We spend 1000s on stuff that we don’t really need and the need to look good doesn’t get satisfied for too long afterwards!

I know some of you will be thinking but it’s faster, longer battery life, etc.


What was wrong with the speed of the iPhone X that you feel so in need of buying the new iPhone 11? If you are in the habit of replacing your phone every time a newer model comes up (like I used to be).

Millionaire minds don’t mind skipping a model or 2? Once you do that you will start to see exactly how little you needed that upgrade.

Millionaire Minds Think In Terms Of Priorities

Before I go on any further…

I need to point out a very important perspective to all what I am saying here. I know most of my readers are like minded entrepreneurs or people looking to become one. This will help you become one of the millionaire minds in the world.

Not just with life but also with your business. So keep reading because we are about to get real!

Ask yourself, why do you need a big mansion, office, etc.? Why do you need that cruise holiday? Is it because we really need it? OR are we just trying to show others that we are successful and can afford it? Is that something worth spending all our savings on?

The point here is not to live a miserable existence! You are allowed to do what makes you happy.

I mean what’s the point of having money if it doesn’t improve your life? Right?

They key here is priorities. Millionaire minds focus on what makes them happy and spend on it. BUT in moderation. First of all, you need to establish what REALLY makes you happy. If having a big house with a swimming pool is your definition of happiness then cut down on the other things.

Stop buying whatever you can from these things. Consider this sacrifice as an investment in your happiness!

Even then you can still make a wise decision. I recently sold my house in a popular area here in Cairo.

Currently I am looking at homes with facilities. Like a swimming pool, gym, etc. in one of the newer cities. The ones under development would cost me a fraction of what one in the established cities would.

If traveling the world is your thing then I won’t just tell you to not buy a new home…

I’ll suggest that you take it one step further and downgrade. This is true wealth management. You use what you have to achieve your goals. This is exactly what you will need to do when you are running a business.

Since you will be traveling a lot, you won’t really need a large home. It’s just frozen money in an asset you will rarely use.

In a business setting this mindset will be even more important than even in your personal life. If you’ve been reading my articles for a while you will already know that I am involved in multiple businesses. Both family related and personal.

Entrepreneurs are faced with hard decisions on a daily basis. So many choices! Like what business to invest more in and scale up? What business to trim down? In the end, millionaire minds know it all comes down to priorities.

You see priorities are like your compass in the business world. If the compass is off North (your goals), you will make a lot of wrong decisions.

Potentially regretting them sooner or later, one way or another. I wasn’t born with this knowledge. I had to learn it through a series of very expensive mistakes!

Budgeting Like A Millionaire

Here’s a funny story. As an employee I was responsible for my department’s budget every single year. Yet I never budgeted for my own life. I managed the spend of the budget at my job very well. It was pretty much air tight, with solid prioritization protocols.

This allowed me to cover areas that require more due to unforeseen circumstances. It also saved me from asking for a bigger department budget from management.

It was not until I started dating someone in 2013. They happened to budget for her life. She had created an excel model for all her spending requirements. It covered her income, emergencies, bills, etc. and suggested I do the same.

Despite being so good at budgeting at work, in my personal life it was extremely challenging. You see, in business there are no emotions, just rational decisions.

In life it was a rollercoaster trying to budget. I realized I wanted too much and made so little. Can you relate? Prioritization which I was supposedly an expert at…

Became one of the most challenging tasks that I had to accomplish while budgeting my life.

You’d think in my own businesses it would have been easy since I was already experienced as an employee in such decisions. EXCEPT, as an employee it wasn’t my money, I didn’t have any stake in the decisions, my money was not on the line with every decision I made.

The silver lining for you is that it gets easier with time. Whether budgeting for your life or your own business.

The idea is to try and stick with the plan. Create a savings target and stick with it. Even if you don’t manage to achieve your target this month.

Simply try to achieve it next month. Heck, maybe even cut down and try to make up the lost savings from the previous month.

So what do you do? Create a spreadsheet with all your expenses and how much you currently earn.

You then put a target savings section and set a number there.

Then you fill out all the cells and see where you stand in relation to your target savings.

This is the moment where you begin to prioritize but first save the total expenses in a separate cell outside of your calculations model. We’ll need it later.

Now your goal is to ensure that after the expenses you still have enough money left to cover your emergencies fund and your savings target combined.

You need to tweak it so that your savings target is achieved and aim for higher savings than your target so that if you slip up you still have some slack to achieve your target.

Once all that is done, you add your target savings to the old expenses (before tweaking) that we’ve kept aside.

This is the immediate or near future income target that you need to aspire for.

Why? You may ask!

Well, that’s the income that will help you maintain your current lifestyle. All while still achieving your savings target.

You want to get back to that as early as possible! Otherwise you run the risk of giving up on your goal.

You will often find that an interesting thing will happen though. After you’ve gotten accustomed to the new lifestyle. That extra income will mostly go to your savings once you get it. That means you are really making more money when that increase in income comes.

This is a very primitive form of financial modeling that you can apply. It works for both your life as well as your business. This will help you get a handle on your finances better. You could also look into financial modeling more in-depth.

Then apply the philosophies in your financial management efforts for further savings.

How Millionaire Minds Save Even More Money

How Millionaire Minds Save Even More Money

I have a specific friend who has a major problem with his finances.

Every time I speak to him and squeezing his budget he always tells me I am squeezed to the max. You would be surprised how much more money he was able to save. Just by taking advantage of the options made available to him by the “lateral thinking” approach.

Lateral thinking is the approach of thinking in alternative manners. Most of us, when we think savings we think either making more money or cutting expenses.

We need to think in terms of taking advantage of the loopholes in the system. It sounds sinister I know, however, I am not suggesting foul play in any manner here.

Look at some of these examples…

You are using a cellular or internet service provider and paying a certain amount, their competitor makes an offer on the package you are on if you switch to their service and you get the bill cheaper by 20% for 12 months from the day of moving providers.

Banks often offer bonuses for transferring your checking account to their bank, why not take advantage of that?

Many credit card companies will offer 0% interest for the first few months using their card or even the first year to encourage people to fill in the forms, sign, and use their credit facilities, why not apply and save on the interest you are paying?

Look for cash incentives in any way, form, or manner and take advantage of them.

The same goes for discounts and discount coupons. Once you have these savings, don’t spend them, instead put them in an interest bearing savings account, this account will grow with time and you accrue interest on these savings.

Granted you may have to live a little less extravagantly for a while. But it will all be worth it! Millionaire minds put in a little extra work and sow today to reap more tomorrow.

I know it’s not easy because you will inevitably have to sacrifice the “look” of wealth and success at least partially, for some time.

The best I can offer you is an understanding that you are doing this for yourself and your future, while the “look” is for others, who would you rather invest in?

You have to consider a different approach like a farmer you plant the seeds today. Tomorrow you harvest the rewards.

This is not and will not be easy.

It goes against our societal norms of what represents wealth and success in people. I cannot repeat this enough, focus on yourself and your future, forget what others think and how they perceive you.

My youngest brother once said something profound to me, he wanted to open a small very low class restaurant.

I told him but man, what about your prestige? His response was remarkable, he said “These things bring in lots of money, I don’t care how they see me, once I am rolling in millions they will be begging for my attention, money will bring back my prestige 10 fold”.

So to put things in context, if you can’t afford a gorgeous home today, maybe consider living with your parents for a while, save for your dream home, and the rest will all be history!

I know the idea of moving in with your parents (if possible). And not having the latest gadget that all your friends have is embarrassing…

Listen here’s an interesting real life story I heard from an ex colleague of mine. In college they had like an entourage (fancy name for group of friends who are always together). One of the guys would go and buy street food at dinner time.

They, on the other hand, went and ate in higher priced places. The guy would literally leave them at dinner and catch up with them afterwards.

They used to make fun of him constantly for being cheap. Today that colleague was struggling to make ends meet. According to him so are all his friends with the exception of one.

Can you guess who?


The guy they used to make fun of. Today he works for himself. He runs multiple businesses and living the life they all used to PRETEND to have the means for. Except he has the means to live it. Moreover, without it putting a dent in his bank account.

The moral of the story is we fight so hard to save face today and pay for it tomorrow. Your friends will not help you when you fall.Yeah they may try to help but we all have our own monetary problems. Plus there’s a limit to how much help we can offer.

Your TRUE friends will not mind if you suggest a cheaper bar, restaurant, or cafe. They care that the place they suggested is outside of your budget!

If they do mind, then you are better off without them anyways.

These friends are literally not only blocking your path to wealth, but dragging you down to poverty. A real friend wants to see you, even if they drop by for a chat at your place or invite you over to theirs.

Believe me I learnt this lesson the hard way. When I lost my job in 2017 I had over 1000 contacts on my phone. At least 500 of these were people I considered friends. Today of these 500 I have like 4 or 5!

These are the ones that were happy to grab a take away tea from the unbranded corner store. Then later go for a stroll in the park.

These are the friends who wanted to see me for real! Not just wanted me as part of their posse and entourage. Turning it up at fancy clubs, 7 star hotels, and fine dining restaurants.

Now that we’ve discussed savings, let’s get to the part you have all been waiting for, growing your income.

Please forgive me for taking so long to get to it, but as we said at the start of this article

if your don’t have a solid foundation of managing your finances, whatever additional income you make will not make a huge difference in making your life better.

It is the foundation that you will build your millionaire empire on, and a building without a solid foundation is a building destined to crumble and fall sooner or later.

How Millionaire Minds Set Up Revenue Streams

Now that we’ve demonstrated the possibility of growing your wealth without growing your income, let’s compound that with strategies to grow your income and become a millionaire faster. Let’s face it, savings alone can make you a millionaire but on the long run, we want to expedite the journey a little bit and get to our destination faster, right?

If you’ve already done your budgeting right, you’ve probably come to this conclusion already, a single income stream will never be sufficient to make you a millionaire soon enough so that you’re still young and healthy enough to fully enjoy it!

Alright! So can you grow your income without starting your own business? There is a simple and obvious solution for that… we have the options of weekend jobs, getting a second job during the week, or even freelancing both online or offline.

Before you groan, I said that knowing that many of you will not be too fond of the idea. Or even are already are working more than one job. Remember that we already established that the need to invest today in order to reap the benefits tomorrow.

Sacrifices will need to be made if we are to reach our goal here!

I wrote an article that speaks about freelancing online and even how to scale that you could check out by clicking here. (note: it’s not only about freelancing, so you may get some good ideas from there too)

Just as little as an extra $1,000 a month is an extra $12,000 a year! No amount is too little, tweaks here and there add up with time. It’s only a matter of time before you can finally move into that great home you’ve dreamt of and wear some of those nice clothes and that hot new phone you’ve been dying to buy, you earned it, spoil yourself a little!

But that’s not enough to get us the fortune we are trying to create! It’s still not quick enough, so let’s bring in the big guns and talk about the giant elephant in the room.

I preach this in almost each and every one of my articles. In my personal experience and opinion it’s the best (if not only way) to build a life of abundance. AND great wealth too! Working is a great way to make money.

But what if you take some time off, go on vacation, or GOD forbid, get sick?

What impact will that have on your income, and savings?

Not so positive right?

Now in contrast…

If you are on vacation and get an SMS message from your bank. One saying that $1,000 or $10,000 or more has been deposited in your account. All while you were sipping on a cocktail while basking in the sun at the beach, for the past week…

wouldn’t that be great?

Well there is only one way for that to be your reality. It can only happen if your income streams are working on autopilot regardless of your presence and/or involvement. This is what, in the business world, we refer to as “passive income”.

You earn passively or in other words with minimal to no involvement what so ever.

Your revenue stream(s) become a money making machine. One that works 24 hours a day 7 days a week 365 days a year.

That’s regardless of whether you are asleep, working, on vacation, or doing whatever you want to be doing with your life.

People with millionaire minds do this in many ways. I won’t discuss them here but you can find them in detail in my articles:

“How To Make Your First Million In 2020”


“10 Ways To Earn Money Fast”.

What if these options don’t appeal to you?

There are many others options like taking photographs and selling them online, getting paid for placing comments on sport blogs/sites.

You could even sell hand made artisan jewelry, stationary, mugs, keychains, etc. after taking a course. Maybe buy items on wholesale and sell them individually at retail prices on platforms like eBay!

The options are endless and limited only by your creativity. ٌYou should really take a look at the articles I mentioned earlier and especially this one for inspiration. You’ll even learn how to use offline options like asset flipping and renting out a spare room on AirBNB, etc.

Other ideas include mowing lawns in the neighborhood. Maybe teach English (or another language) or an instrument.

As I said, you can get creative with the idea. Let’s see what amazing and fun income streams you can come up with. Drop them below in the comments, they could help another reader!

Who said that making money has to be exclusively serious business?

You can still make money and have fun while doing it!

In fact, I would even say that the best income is the one you make while having fun!

This will help you grow your income exponentially!

This is not an overstatement. We have a saying here in Egypt that literally translates to “money hunts”. It basically means, when you have money set aside for investments. opportunities will come up.

Plus, you can negotiate better when you have at least some of the money ready!

The reality is money makes more money. With money available you can invest in a small apartment and rent it out. You could even buy a second home. Just make sure it’s in an area that is expected to boom quickly as a mid-to-long term investment!

So why is passive income a good thing? It doesn’t only help your financial goals quicker. It also gives you a form of stability. Like a fall back plan, if something should happen to your full-time job.

I know this is possibly the best or worst time ever to bring this up.

So many people lost their main income life-line due to the recent financial turmoil that plagued the whole world.

The downsizing exercises that companies implemented to stay afloat, hurt so many people.

Not to kick the hornet’s nest here, or bring up bad feelings amongst you guys.

But one does wonder how these people’s lives would have been different if they had some passive income streams. Something to fall back on when they got downsized. No matter how small, it would have made a huge difference, right?

We don’t start planning for crises after it happens, we do so well in advance…

Think about this for a second, let it marinate, then decide if it makes sense!

Here’s an interesting concept, board games like Monopoly.

Have you ever played it or any similar game?

These kind of games teach you to invest wisely early on, if you don’t, a few rounds in and you lose. Every round in these kind of games you attempt to procure cards that either give you a large pay you out or help cut some of your losses.

These changes may appear small to you on the short run.

However, as the game progresses, they help you secure your dominance on the board.

If you are an avid gamer you probably know that dominance = a decisive win every time!

Life is no different. Pick the choices that help you dominate and as time goes by, you win this game we call life.

First you need to establish what is it exactly that you want?

Then acquire the virtue of patience.

It will help you to resist any temptation or indulging your instant gratification desires.

This is a crucial mindset shift if you want to achieve your desires of wealth and abundance!

That’s how you become one of the greatest millionaire minds of this world!

Finally, once you’re ready check out some of these posts to help you with some
ideas to begin improving your chances of success:

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