Here's a recap on the book i have read before - The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich.
Whenever people receive their paychecks, they think of buying something to reward themselves for the hard work they have put in this month (I am also guilty of that =p). After that, they spend on the needs of the family, like tuition & school fees, utility bills etc. Thereafter, people tend to discharge some allowance leftover to pamper themselves with the Wants which differ from person to person. Then Lastly, they see what is the surplus and try to save them in banks, invest in stocks etc.
So how do YOU exactly become a millionaire?
Take the last step and shift it to the first priority! In that way, whenever you get ur income, part of it has already gone to your savings/investing.
1. You start off with a lower income, so automatically you reduce spending on your WAnts and Urges because you definitely have to pay off for your Needs!
2. You won't get to SEE the money come to your hands and suffer the agonising pain of not being able to buy the latest gadget because you need to save them.
3. As you set aside a certain % to invest monthly, it is easy to maintain. Once you get used to it, you can slowly increase the percentage to invest. By doing it gradually, you are one step closer to being a millionaire & slowly the pain of remembering you have a higher income in the first place will dwindle.
4. By the time you know it, You will be half-way to becoming an Auto-Pilot Millionaire!