1- They’re entrepreneurs.
According to the “Millionaire Next Door”:
“In America, fewer than one in five households, or about 18 percent, is headed by a self-employed business owner or professional. But these self-employed people are four times more likely to be millionaires than those who work for others.”
2- They avoid debt.
They only buy what they can pay for. This way they don’t pay interest rates for the things they purchase.
3- They have multiple streams of income.
Millionaires have multiple streams of income. It could be interest from loans, investments, royalties etc.
4- They’re patient.
John Rampton says: “Millionaires live by the motto that patience is a virtue. They invest wisely and focus on living below their means.”
5- They don’t act rich.
Researchers from Experian Automotive found that “61 percent of people who earn $250,000 or more aren’t buying luxury brands at all. They’re buying the same Toyotas, Hondas and Fords as the rest of
6- They live on a budget.
They create and stick to a monthly written budget. Budgets eliminate unnecessary expenses.
7- They read for self-improvement
Entepreneur John Rampton says: “Reading habits helped me become a stronger and more effective business owner and leader. For the average millionaire, reading can help them grow and learn.
According to research from Thomas Crowley, 85 percent of self-made millionaires read two or more books per month.
Source: https://www.entrepreneur.com/article/304219
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