The Millionaire Mind

Living in a capitalistic society, I am always striving for financial freedom. In a world of get-rich-quick schemes and new money, I wondered about the habits of financial successful individuals who are able to maintain their wealth. The book The Millionaire Mind was a great read that gave me insight into the habits of millionaires. My financial life is a journey but I try to stick to certain principles as outlined in this book. Here are a few great points to live by:

The Home

• Never borrow long-term with the prospects of short-term income.


• Never try to purchase a home in a short period of time.


• Bargain shop for a home (foreclosure, divorce settlement, etc.)


• Be willing to walk away from any deal on any home at any time


• Never pay the initial asking price for a home


• Test the owner’s price sensitivity by making a deeply discounted offer


• Find an easily affordable home (Can you afford it if your income was cut by 50%?)

Econonomically Productive Household

• Have furniture refinished or reupholstered instead of buying new


• Never buy from telephone solicitation


• Having shoes repaired instead of buying new


• Use discount coupons when shopping (get from local Sunday newspaper)


• Buy household supplies in bulk


• Have clothes mended/altered


• Pay off mortgage early


• Develop a shopping list before going to the store


• Purchase items top-rated by Consumer Reports


• Leave the store as soon as a purchase is made; wait one week to purchase impulse buys


• Live below your means

Eliminate/Reduce Fear

• Elbow grease (hard work)


• Planning (well-organized, preparation, focus on key issues)


• Decisiveness




• take immediate action to solve problems


• outwork, outthink, outtough the competition




• The power of positive thinking




• Visualize success


• Defeat fear by attacking it


• Counter negative thoughts with positive ones


• Study people who had courage




• Mind control (don’t dwell on mistakes, fear should not control the mind)


• Athlete’s heart (exercise regularly)


• Religion/spirituality (pray, count your blessings, have strong faith)

Words of Wisdom

• Money is not your God. You control it…don’t let it control you


• No one ever got to this level without the help of others. Call your folks and thank them.


• The harder you work, the luckier you become.


• Never consider relying on other people’s money to make you rich.

*´¨`·.¸¸.* Ebony Ynobe *¨`·.¸¸.*
http://www.twitter.com/ebonypost