10 Characteristics of A Millionaire

There are certain characteristics that millionaires share. While there is no one-size-fits-all answer, most millionaires have some things in common. From the book “The millionaire next door” by Thomas J Stanley and William Danko, to be successful, we need to know what we can do. Wondering on how to be a millionaire, here are 10 characteristics of a millionaire from this book.

1. Income More than Expenses

Do you spend more than you earn? This is a problem faced by most people. If you are spending more than you can earn, you are most likely getting deeper into debt. If you want to be a millionaire, the first thing is to live below or at least within your means. Millionaires never spend more than they earn.

They know where their money is going and make sure they spend within their budget. They eliminate the expenses which do not bring any value to them and prioritize their needs and wants.

2. 2x More Time Spend on Financial Planning Than Others

The more you know about money, the better. Millionaires take their time out to learn about financial planning and spend at least 2 times more time than others on this activity. They believe in always learning something new from every situation they face in life, especially the financial…