Contrary to some people's opinions, most millionaires are not rich due to:

1.   Inheritance 

2.   Ripping off poor people 

3.   Lottery winnings 

In fact, most have kept to the basic money skills that we at money100 have been discussing. Yes it does sound boring but in almost all cases it is the only way. There is probably a greater likelihood of millionaires and those very wealthy to have their own business.

This takes greater skill. Not only do you need to have your personal finances under control you also need to control business finances as well. So what are the rules that millionaires use? Have a read of these points and relate them to what you have previously done or intend to do in the future.

Wealth is mainly the result of a lifestyle of hard work, perseverance, planning and most of all self discipline.

Common habits of wealthy people

They live well below their means their whole life.

They allocate time, energy and money to grow their wealth.

They believe that financial independence is more important than displaying high social status.

Their parents did not provide financial handouts.

Their adult children are financially self sufficient.

 In the U.S.A. they often say ""Big Hat No Cattle"" we could change this to:

Flashy Car Big Loan

Great Holidays No Savings

Designer Clothes Numerous Credit Cards

Big Talk No Money  

Wealthy people are almost always good at attack and defence with their money. They are extremely focused and passionate about their business/occupation and to earn strong income from that. They are also driven to live within their means which enables them to invest on a regular basis. They pay themselves first.

Points to consider

Couples struggle to accumulate wealth if one is an extreme spender.

All too often people allow their income to define their budgets.

It's much easier to budget if you visualise the long term benefits.

Wealthy people are planners and goal orientated in all areas of their lives. This includes wealth creation.

Financially independent people are happier than those in their same income/age bracket who are not financially secure.

Wealthy people allocate considerable more time to planning and managing their financial affairs than non wealthy people.

The only one who can help you is you.