About two thirds of America's millionaires still work though self employed.The types of businesses they own tend to be mundane such as welding,dry cleaning and yes cakehouses.Eight out of ten accumulated their riches themselves.To realise your own financial dreams walk these simple rules:
1.Live Below Your Means
Get off the spending treadmill especially conspicuous consumption.Many have come to realise that frugality is the first step back out of the red ink.Miser are survivors.
2. Launch A Savings Plan
Jumping off from a spending mindset, set aside a certain percentage into savings.Then invest them.There is always the possibility of an additional downturn or other emergency down the road.If a funding squeeze comes on this reserve is your first line of defence.
3. Take On Debt Sparingly
Don't get sucked into today's "gotta have it now" culture.Or be led to financial death by the notion that good times last forever.Up to two thirds of millionaires are debt free.
4. Start Your Own Business
Self employed people are four times more likely to be millionaires than people who work for others.Salaried workers are limited to what an employer will pay but savvy entrepreneurs grow their own business.
5. Make Yourself Stand Out
Decide what role you want to play in the marketplace.Which audience are you going for?What do you want to be known for?What does your character look like and sound like?Be your own casting director and step into the spotlight. Cast off from old ideas.Perhaps an online income is something you have never considered or thought of.It could be your single fortune maker!
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