How to become Millionaire / Crorepathi – 4 life changing lessons I learnt

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How to become Millionare / Crorepathi

I am not going to tell you how to become Millionare / Crorepathi overnight. I would be telling you basic simple steps on how to attain this goal. Well, I am not Millionare / Crorepathi, then why do you listen to me? I dreamed of becoming Millionare / Crorepathi 10 years back, but am still dreaming. But in this process, I learnt what to do and what “not” to do.

What I was dreaming?

10 years back, I had ₹40,000 as my investment and dreamed of becoming Millionare / Crorepathi in 8 years. The only idea was my investment would get double in 1 year. I invest ₹40,000 and after 1 year the investment would become ₹80,000 and after 2nd year it would be ₹160,000 and on 8th year the amount ₹1 Crore. What a good dream. I wasted my time in dreaming and putting the money in stock markets and enjoying the losses.

What are the 4 lessons I learnt?

  1. Income:  I was not worried about my earnings. Whether it is 20K or 30K, it was not a major concern for me. When I realized how important the earnings are, I was way behind my friends and colleagues who were having good earnings and real estate properties. Then my concentration shifted on how to maximize the earnings. I tried all the ways to see on how to maximise my regular income. I keep trying for every small opportunity to increase my income.
  2. Spend within limits and budgets: What I could not realize earlier was on how I was spending the money. I used to take my daughter to a store when she wanted to buy an ₹10 chocolate, but I used to spend ₹400 bugs for variety of chocolates and biscuits. Don’t laugh. My daughter was happy for 15 minutes and she forgot this instance after that. Another example was, I used to take personal loans just like that for friends and relatives which I felt coming was coming for cheaper interest rates. But when I was re-paying before the tenure, I used to pay the interest + prepayment charges which I was trying to recover from the people I gave loans. Third example was, I used to spend my money freely in my joint family who never cared about that money and who never valued me.

         In the last 2 years I have mastered spending money within my limits and budgets. I keep reviewing my expense budget every month and see the areas to cut down the cost. 

  1. Invest wisely: Whatever I was able to save money, I used to “play” with that. What I meant to say here is I never cared about “growing” money; I spent money to check how can I  become Millionare / Crorepathi “overnight”. This was one of the biggest gap. In the last 2 years, I was able to plan where to invest and where I would be in the next 3 years. In this process I was able to know the best investment options.
  1. Various ways of earning money: The last option currently I am trying various ways of earning money. It could be through  blogging (this website I am using for blogging), ways to earn money through youtube, Starting a success ebay business etc., I am yet to be successful in these money making ways. Out of 10 options I am making attempt, even if 2-3 options are successful, this shows ways to earn that extra money, and it would automatically add to my “Millionare / Crorepathi” kitty.

Conclusion: I learnt these 4 life changing lessons to become Millionare / Crorepathi, in the last 10 years which you could start implementing from this minute. Maximize your regular incomes, Spend within your limits and budgets, Invest wisely in best investment options and try ways and means to earn that extra money which would show you the way for becoming a Millionaire / Crorepathi

Readers, do you have any success stories for becoming Millionare / Crorepathi? If so, please provide the ways and means you used to achieve or trying to achieve this goal.

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Suresh
Myinvestmentideas.com

Suresh KP
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18 comments

  1. Hi Suresh,

    I was going through many articles in this website and I found your intent to be genuine.

    Although I am a novice in investing matters, I will be glad to help you in writing any articles. If you are open to this, please let me know if I can email to you personally or you can mail me back.

    P.S. I am not trying to promote any content or spam. I am a human and not a spam bot. I am very much interested in this. Hence this offer.

    Reply

  4. Inspiring article….Always post the ispirable and life changable article. I also want to try to do some bussiness and become a billionaire. So please suggest me……

    Thanks

    Reply

  5. Very Helpful and motivating.

    Appreciated your efforts in spreading the awareness.

    I wish you a from my deepest heart A Very Very Healthy-Wealthy-Prosperous Life Ahead and a Bright Career.

    Take Care!!

    🙂

    Thankful regards

    Vijendra D Padwal

    Reply

  9. Hi, I have a small advice which you may consider, please read Rich dad Poor dad, Cash Flow, The Business School by Robert T Kiyosaki you will find a very good strategy and Real fundamentals. These books are exceptional. Bye. I apprecite your sharing of knowledge.

    Reply

  12. This article is very useful. I read few of your blogs and i came to know lots of things. Thank You very much for providing essential information. Keep it up!!!!

    Reply

  14. Thanks for the comments Sridhar. You can write to me anytime at suresh.podishetti@yahoo.com and I would be glad to help you in running a website and make money thru this. Refer some of the posts like earn thru youtube etc., you would not loose anything, but once you do good homework and hardwork, you can earn good money.

    Reply

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