Who wouldn't dream of being a millionaire?!.. As the wise men say, the shortest step to success is to follow in the footsteps of those who came before you.

Grant Cardone transformed from a debt-bound person at the age of 21 into a self-made millionaire by the age of thirty. In a report published by Business Insider, writer Kathleen Elkins quoted Grant Cardon as saying that the first step to becoming a millionaire is to focus on increasing your income.

The young millionaire pointed out that his income "did not exceed $ 3,9 per month, and after 20 years it became $ <>,<> per month," and stressed that earning money is not easy, but there are always options for people to achieve what they dream of, and among the most important tips mentioned by the young millionaire are the following:

Develop multiple sources of income

One way to make more money is to increase your sources of income, and author Thomas C. Corley, in his study of self-made millionaires that lasted for 5 years, found that many of them have multiple sources of income.

These additional sources include real estate rentals, equity market investments and fractional ownership in secondary businesses, and the more revenue you create, the more profit you make, Corley said.


Save money with the intention of investing

According to Cardon, the only reason to save money should be to invest it later. Put your money in secured accounts and never use these accounts for anything, not even in an emergency, as this will force you to continue to increase income.

Invest in yourself

Many successful and wealthy people in modern times are lovers of reading, take the example of Warren Buffett's estimate, which indicates that he devotes 80% of his workday to reading.

Giving up fixed salary

The report explained that the rich are often self-employed and determine the size of their own salaries. It's not that there are no people around the world working around the clock for a salary, but more often than not it's the slowest path to prosperity, promoted as the safest, and the great know that freelancing is the fastest path to wealth.

While entrepreneurs continue to build their wealth, ordinary people settle on fixed salaries and miss the opportunity to accumulate huge wealth.

In another report published by the American investment website Invested Wallet, writer Theretha Bedford asserts that the road to getting rich quick presupposes starting from the first moment and that nothing is postponed until tomorrow. The author mentioned several tips that may help you move forward on your journey to make money, the most important of which are the following:

Don't speculate with your money

Of course, speculation may be a quick way to make some money; but it's also a faster way to lose it. To get rich quickly you don't have time to waste money which means you don't have time to speculate with your money. You have to engage in investments with strong rates of return.

Start a business

Entrepreneurs have more control over their potential profits than employees. They control the decisions to grow the company and change profit margins. Large profits lead to larger and larger incomes for entrepreneurs, and their journey from extreme poverty to wealth can be difficult; but the return can be unlimited when they seek to get rich.


Make a flexible plan and follow it

Financial expert Morgan Hussell explains in his book The Psychology of Money that countless people have lost millions because they felt they didn't have enough of it. It is therefore important to recognize when money is enough.

To be successful, set smart, measurable, achievable, realistic, and time-based goals, then make a plan to reach and follow those goals. Sure, there are times when you may have to adjust your plan. Flexibility is therefore essential. Create a margin of safety in your plan by having a budget, contingency plan, flexible thinking, and a realistic schedule.

Take calculated risks

There is always a risk in the investment and business world and side barriers also have risks. Risk is inherent in getting rich. However, consider taking calculated risks. Always be aware of the pros and cons while building a plan with the aim of maximizing rewards and minimizing losses.

Make smart investments

Smart investments are essential to get rich. And you can't afford to lose money when you want to get rich quickly. Of course, don't invest with money you don't have. Don't use the money you need to cover living expenses and don't resort to debt to start your investment journey.

Learn Personal Finance

There is a lot to learn about money and wealth building. Start reading for 20 minutes each day on topics such as investing, money management, debt, retirement planning and beyond. You can also check out blogs and podcasts about finance and personal investments, as no matter how much you know, there's always more to learn.