How to Become a Millionaire

Video Transcript

"Hello. My name is Mark Griffith, and this is a brief introduction to the very big topic of, "How to Become a Millionaire". This both sounds very complicated and very simple, so I'll try to go through it in steps. First of all - and this may sound strange - first of all, you need to pay yourself. That is to say, you need to start saving money - taking money out of any amount that you make - and keeping it and paying yourself, rating your own time, deciding what your time's worth. Secondly, you need to build up an emergency fund. And this is the hardest part, because when you say something like, "twenty thousand dollars, thirty thousand dollars, twenty thousand pounds", most people say, "I haven't got that money, I'm poor". So, you have to start doing something which seems like it's out of reach. But if you are making a lot of money at some point, and then disaster occurs - things do happen, bad things happen - you'll be knocked off your course. And if you'd had that emergency fund you could have carried on on that successful course. So this is a very important point. You should have some emergency money. Third - and this is perhaps the deepest part of it - you got to look at your attitudes towards money. Do you feel, "I'm poor, and I never get the chance"? Do you feel life is hard? Do you secretly believe some people get the breaks, I don't? If you have these ideas in your head and they're very powerful - a lot of us have them - you're never going to be rich. You have to start changing the way you think about money and the way you think about luck. And all I can say is, each time you catch yourself thinking something like, "I'm poor, I'll never make it", stop yourself right there and try to change that. Change that internal script. The fourth thing, and this is really where the money comes from, is to think carefully, long and hard, about what you really love. You have to do what you love in order to make money. And you have to do more of it than you might ever have imagined. But, if it's really what you love - not just something you think will make you rich - if it's really what you love, then you'll be able to manage it. That's how most people who get rich get rich. They find a passion. They find something they truly believe in and then they do a lot of it. And the money looks out for itself. The next step is to consider how you feel about people who are richer than you. Do you resent them? Now, be honest with yourself. Do you secretly look at the ultra-rich and think, "Ha! Easy for him, easy for her"? Again, stop yourself. This is another way that you can program yourself to become poor or to stay poor. If you resent the rich, you're never going to be like them. In fact, a lot of rich people are very generous. Simply that you believe otherwise. Finally, keep going. Don't give up. Consider all the options, and make sure you find what your passion is, make sure you put some money aside for a rainy day, because there will be plenty of rainy days between now and you becoming a millionaire, and make sure that you change your attitudes towards money. Save, pay yourself, don't take big risks, but find your passion and stick with it. Good luck."