Think Like a Millionaire: How Rich People Deal With Money

Think Like a Millionaire: How Rich People Deal With Money

Realistically, not everyone’s going to be able to claim the title of millionaire in their lifetime. Even so, there are plenty of tips and tricks to live by no matter where you are in your financial journey. Today, we’re learning to think like a millionaire and applying how rich people deal with money to our own lives.


Live Within Your Means — Whatever They May Be

Whether you’re making millions or or a more modest income, excessive spending is unhealthy and unwise. While it’s tempting to daydream about dropping thousands on fantastical purchases with wild abandon, remember that more money spent equals less in the bank. Millionaires wouldn’t stay millionaires if they spent more than they made.

Keep track of your monthly income versus your expenses and know your assets (like savings accounts and stocks) and liabilities (such as loans and debt). Some people find it helpful to map all of this out on paper, while some have more luck with financial apps or spreadsheets. Whatever method works for you, be sure you’re aware of all your financial factors at play.

Focus on the Big Picture

Consider all the day-to-day tasks required to keep your household afloat: mowing the lawn, shopping for groceries, preparing meals, deep-cleaning the house. Can you perform all these tasks yourself? Absolutely. Is it worth it? Think long and hard about the answer, because it may surprise you. Outsourcing the minutiae frees up your time so you can spend it on what makes you and your family happy. Millionaires use their money as a tool to help them save the most priceless commodity of all: time.

You may not be in a place in life where you can hire a personal assistant, chef or trainer. However, you can probably free up the resources to hire someone in your neighborhood to mow the lawn. Many grocery stores offer online ordering and grocery pick-up or even delivery. Meal-delivery services that ship the exact ingredients you need for a healthy dinner right to your door can significantly eliminate time spent shopping, prep time and food waste. If you can afford to outsource a few tasks here and there, you can “buy back” valuable time to spend elsewhere.

Get in the Mindset to Go the Distance

This is about as “big picture” as it gets. To really think like a millionaire, understand that you may have to sacrifice the work-life balance you desire temporarily in order to achieve it in the long run. Millionaires early in their careers typically shoulder significant work commitments so that they can make adjustments down the line as needed. You can re-evaluate your time and energy invested when necessary, such as with the arrival of children or when you reach a comfortable level of financial security. Basically: make hay while the sun shines. This is especially important if you’re younger or haven’t currently got significant family or personal responsibilities. If you’ve got the time and energy to dedicate to fast-tracking your career, take advantage of it.  You’ll be glad you did later on.


It all comes down to strategy. The bottom line is: To think like a millionaire, don’t get caught up in life’s minutiae. You need to invest in creating healthy financial habits in order to build wealth. You can always get advice and counseling from your local credit union on how to save and invest your money wisely. Decide what’s important to you, be it convenience, leisure or more time with your family. Then, plan the steps you need to take to cultivate the things that bring you joy. It’s how rich people deal with money, and with planning and guidance you can take a page from their book.