In the past, I have outlined the 3 steps to a wealth mindset. To help you to action these steps, this week I want to give you 10 principles of a millionaire’s mind.
These principles have been a great way for me over the years to stay focused on what is important.
A wealthy mindset or millionaire mind is not something that is common, and we certainly aren’t taught it at school or college.
Wouldn’t it be great if we could have learned this stuff while we were young, it certainly would make the transition to an adult with responsibilities a whole lot easier wouldn’t it?
But, for now, we have to rely on obtaining this knowledge ourselves…
These principles I have learned from many different mentors and personal development gurus.
They work for me and I am certain they can help you in your quest to take charge of your money and build a solid reliable money future.
So let’s get into what I think are the best principles for stimulating your millionaire mind. This is the ‘doing’ part, which is often left out of all the material on money mindset.
11 Principles of a Millionaire Mind
1. The Universe gives you what you can handle
This principle can be confronting when you first understand it…
Basically, it is saying that you can’t have a millionaire mind or a millionaire lifestyle if you can’t control the money you currently have.
If your spending is out of control and you are buried in consumer debt to keep up with your spending, then the universe isn’t going to send you more money.
First, demonstrate that you can handle your money and then watch your results improve.
2. Always be open to grow
When I first left school I heard someone say that your education doesn’t end when you graduate…
At the time I thought that I was never going to study again. I had spent many years in school, college, and professional education programs that exhausted my desire for more study.
But I soon realised that this statement was one of the most important pieces of advice I could have been given…
And after a brief period of avoiding learning opportunities, and highlighter pens, I realised that my learning had just begun.
When you are not doing as well as you would like, it is likely because there is something you don’t know yet.
Make it your mission to constantly learn and grow, you will appreciate the change in fortune knowledge provides.
3. Power comes from clarity
Have you spent any time working out what you want for your future, for your family’s future, or for your kids?
When you are clear on what you want and why you want it, your likelihood of receiving it improves exponentially…
Most people don’t get what they want because they don’t know what they want.
4. Know your motivation for wealth
Money is really a funny thing, it works in mysterious ways.
If your motivation for money comes from fear, anger, or a desire to prove you are better than others, it is highly likely you will not succeed in getting more of it…
A millionaire mind comes from having a supportive purpose for your goals.
This is where your why is so vital…
A supportive purpose such as your desire to make a contribution, to help others, to build a future for you and your family that provides you choices in life…
These are the types of motivations that are supportive of a millionaire mind.
5. Observe and Learn from other wealthy people
I have spent the last 25+ years making this the foundation of my learning.
Researching and understanding what has brought others success with money has been my passion…
Some may say it has been an obsession.
But I don’t mind that accusation, you see I learned many years ago this principle was fundamental to my success.
Have you ever heard the saying ‘no need to reinvent the wheel’?
Well, this is the basis of principle number 5.
Creating wealth is not a secret science…
There are thousands of people who have made large fortunes for themselves who willingly tell you how they did it, and what worked for them.
One of my favourite billionaires is Richard Branson, his book changed my opinion of money and how to achieve success.
He is a classic example of someone that lives his life with the principles of a millionaire mind, or billionaire in his case…
And he shares his knowledge with anyone prepared to listen. Be one of those people!
6. Be careful what you focus on
If you want more detail on this principle, check out this post.
This millionaire mind principle simply implies that what you spend your time focusing on is what you will get in life.
I like to use the example of the person who always seems to get a parking space right at the front of the restaurant. I’m sure you know someone like this…
No matter where they go they manage to get the best and most convenient parking space.
Until I understood this millionaire mind principle it would irritate me how others could just turn up and get the best parking space…
Until I learned that it was not about the parking space, but the single-minded focus that they would get a space when they needed it.
By focusing on success you are able to manifest the outcome you desire.
Now think about the alternative when it comes to your life and money…
Take charge of your money and have a plan for what you want, a deep desire to achieve it, and a positive supportive motivation for wanting it and make that your focus.
7. Make Contribution a part of your motivation
Helping others is a great motivation and outcome for your wealth goals.
When you have contribution, helping others, as one of your goals, the universe has a way of assisting your success.
There is no greater feeling than being a part of something that helps others who may be less fortunate than yourself.
I love to cycle and have found a way to use cycling to contribute to others via a cancer charity. I’ve had the opportunity to explore parts of my country on a bike while raising money for cancer research, education, and prevention.
Some of the most rewarding experiences I’ve had have been when I get to see the positive impact that the money I helped raise has had on someone’s life.
8. Change your mindset to change your life
I’m not going to sugarcoat this one…
Simply put, if you want success with money and life you have to have a mindset that is supportive of success. A millionaire mind…
It is not enough to rely on hope or to think you deserve it.
You have to be the one to go out and make it happen.
9. Do the hard work
As much as I have said earlier that money is not a science, it also isn’t easy…
Taking charge of your money and your financial future takes effort.
What separates the successful from the unsuccessful is the amount of time and effort they are prepared to work on achieving their goals.
Success comes to those who will do what others won’t.
Are you prepared to change your mindset to be successful?
Are you prepared to learn what you don’t know to be successful?
Are you prepared to put the time into your future financial self?
Are you prepared to help others?
If you are then you will succeed, no question about it…
10. Never give up
Achieving anything in life takes courage and application…
Think about any successful athlete and the interviews they give after a victory.
All of them will talk about how hard they worked to be successful, how difficult it was at times when there were injuries, or how hard they worked with their coach to learn how to be better.
And at all times they will talk about how they never gave up…
Gaining a millionaire mind and achieving your money goals requires the same application.
Never give up on your dreams, you deserve the choices that money can give you.
Build a solid foundation of focus, courage, knowledge, and action, and the results will follow.
There you have it, the 10 principles of a millionaire mind. Take these principles and find ways you can apply them to your life.
Let me know in the comments how you can use these principles, or just tell me your favourite one. I’m keen to hear from you.