Not everyone is fortunate enough to come from a rich family. However, you don’t have to be a celebrity or trust fund baby to get rich. Opinions vary when it comes down to what it really means to be considered rich. However, the thing to remember is that being rich isn’t just about the amount of money you accumulate but also includes your net worth.

To build wealth you need to have some fundamentals in place:

1.  Money mindset is everything

You need to have a positive money mindset when it comes to creating wealth. Everyone carries a money story and it’s your job to understand what yours is and if it’s holding you back. Reframing your story to a millionaire’s mindset is essential for success because rich people think differently. How to get rich can’t be a passing phase in your life; it takes work and commitment.

2.  Millionaires still budget

Hard to believe, but it’s true. Even millionaires follow a budget. The biggest secret on how to get rich and stay rich is spending less than you bring in. There will always be wants that exceed budget limits, even for millionaires, because there is not an unlimited supply of money.

3. Money management is key

Good money management is so important to get rich and stay rich. Money management is behavior and habit. You need to be mindful of where you are investing and spending your money. There is a specific strategy to growing your wealth and maintaining it and you must follow it like you do a workout regime.

4. Calculate the numbers

Remember, you need to figure out what your net worth is to know how to become rich. Knowing your starting point and how much or how little you have, you can figure out how much money and assets you will need to acquire to achieve your goal. Try this “save a million” calculator to see your numbers!

5. Live below your means

The secret of how to get rich from nothing is to live below your means. By living below your means, you will spend less money and build your savings account.

Just like with budgeting, living below your means will be a financial lifestyle you will apply to build and attain wealth. To live below your means, keep the following things in mind:

6. Curb your spending

Learning how to curb your spending will help you to live below your means. Cutting expenses on items such as eating out, expensive coffee, designer clothing, and impulse purchases can help you save money. Doing things like making a grocery list to keep you from wasting food can be a big step in curbing your spending.

7. Find out who has money and spend time with them

“Ask yourself: ‘Who’s got my money?'” writes Cardone. “Make a list of who has your money, the money you want, and figure out what you can exchange with them. Whether you have a service, a product, or an idea, the question to ask yourself is always: ‘Who’s got my money?’

8. Educate Yourself 

It is key to try and educate yourself, not only in your chosen field but also in the ways of the world. Keeping up with the news, for example, is extremely important if you want to make a decision about investing or find out about upcoming trends. Ignorance is the prime killer of any effort to make money. 

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