Be a Millionaire Day

Be a Millionaire Day - Monday, May 20, 2024

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Who doesn’t daydream from time to time about scooping the jackpot in the lotto or finding out that your super rich long lost aunt has made you their sole beneficiary? It’s natural to think about the life we would ‘love’ to lead but the mere thoughts of such life changing amounts of money, is also proof of our aspirations in life. 

Everyone wants to have the freedom and ease of mind that comes from having a million dollars in the bank, but very few people achieve it. So if those fantasies don’t materialize, then you can always celebrate National Be a Millionaire Day on May 20th by taking the opportunity to have a good look at your own financial situation and seeing what you can do to improve your outlook. 

Having the belief that you can make changes and achieve the things you want, with a little time and effort on your part, can help spur you on to your eventual goal of becoming rich. The truth is, anyone can become a millionaire with financial discipline, investment and perhaps a ton of luck too.

Be a Millionaire Day isn’t about just suddenly being rich, it’s about acting and thinking in the way those who are millionaires did to become that way. 

It’s also about taking care of yourself like you’re worth a million bucks because self-care is an important part of living a good life.

History Of Be A Millionaire Day

While the incredibly rich have existed for as long as there was money to count, the first millionaire didn’t exist until sometime in the 17th century.  John Law had founded the Mississippi Company and due to its success became the first person to be described as a millionaire.

He was worth well over one million French Francs and was the first person known to do so.  A new word would have to be invented in 1916 to describe John Rockefeller when his personal wealth grew to over one billion dollars.

One of the things that have come out of the growth of the very rich is a study of what it takes to become rich.  The most important part of being a millionaire is learning how to manage your money, though a fortunate birth doesn’t help.  

The rest of it involves understanding how money works, what investments will work best for you, and understanding the market you want to bust into.  Winning the lotto bypasses all of this, but you’re far more likely to get struck by lightning.

Of course being a millionaire isn’t quite what it once used to be! That’s mainly because of the cost of living these days and how far your dollars can get you.

How To Celebrate Be A Millionaire Day

If you’re looking to become wealthy you can start by creating a series of realistic steps that will set you on your path. To do this effectively you want to start with looking at the money you have now and how you can make it work for you.  

You can start by taking a fresh look at your spending habits. Are you spending out more than you need to be? Can you make cut backs and actually start saving more? We all want to live for the moment, but we also need to be saving for a rainy day and for our future.

Now is the time to review your saving accounts and investments and look at ways of improving on them. Set up a nominated amount to go straight from your paycheck into a savings account every month – you won’t miss what you never had, right?

Act like the average millionaire and start budgeting every month and be in control of your spending. Wealthy folk tend to manage their money better, so there is no harm in starting to act like you’re wealthy and help turn the tide.

If you owe money, then focus on paying off your debts and develop a systematic approach to tackling them. Don’t let your debts define who you are!

Don’t be afraid to live a more frugal life, even if those around you are flashing the cash. Be the master of your own universe and appreciate that financial success can take some time to happen. If you’re willing to make some sacrifices along the way, you’ll be able to enjoy the fruits of your labor further down the line.

So do as millionaires do and spend your time wisely by studying and developing a written financial plan. These steps will help build your confidence around money management and investing – it’s time to get brave.

Don’t be afraid to follow your passions and dreams when it comes to your work life. It’s not always possible to switch careers because of financial commitments and mouths to feed, but it can be done. At the very least you can look into some changes that you could potentially make.

The next step is finding ways to increase your incoming wealth through advancing your career. This doesn’t mean you work for someone else, though it can. It means that whether you want to be a YouTube Personality or design incredible buildings, you have to know what to do to succeed.  

You also want to take some classes to help you learn about IRAs, 401ks, and other methods of investment that will help your money grow and prepare for retirement. Take Be A Millionaire Day to set the path for your future, so you can reach all your dreams!

Also on Mon May 20, 2024...