These tips come from recent interviews with multi-millionaires about how they have accumulated their wealth.
How can you make them work for you?
Rent instead of buying your home. You should rent where you live and instead use the money you saved to put down to buy your home to invest. That way your equity is working for you and it's not trapped inside your home and earning nothing.
Frivolous expenditures only come from passive income. You should establish an investment vehicle that gives you passive income first. Then, spend from this income only!
Never pay full price for anything. Shop sales or clearance only. This means shopping for your essentials but also for your investments.
Make your goals bigger. Think really hard about your goals for every aspect of your life like salary, faith, investments, family, fun and multiply them by 10! You'll realize that this exercise will expand your mind and way of thinking.
Keep your expenses fixed while increasing your income. Look for jobs where you can earn commissions instead of having your salary fixed. Be good at sales.
Luis Salavarria is a multifamily real estate investor based in Houston, Texas. You can connect with him through this link https://linktr.ee/luissalavarria247
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