5 self-made millionaires reveal their top pieces of money advice, from counting your blessings to renting over buying a home. (via CNBCMakeIt)
"Someone once told me, 'If you don't know how you're going to spend your money, then you're never going to make that money.' I've tested this theory myself and with others, and it has held true.
If someone says they want to make $20,000 per month, I ask what they're going to do with it. If they say they're going to save it, I tell them they're never going to see that money — and so far, I've been right. Without a reason for making $20,000, it's just a number to you. You won't make money just to save it. That's not how our brains are wired. You need something more to make that money real.
Write a list of the things you want: the house, car, vacations — you name it. Include the costs and calculate the total. That's your goal, not an arbitrary number. Clearly define how you'll allocate that money, including how much goes to taxes and savings, and you'll dramatically improve your odds of achieving that number."
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