Millionomics book touches very beautifully on some of the most important and key aspects as part of the journey to gaining financial freedom and achieving million dollar mark. I want to take few minutes describing some of the key points I hope you will pay attention to while reading the book:
- Audiences will learn the art of smart savings in their day-to-day life and live well.
- Learning the art of smart savings need not be interpreted as leading a miserly life, but it should instead be interpreted as living a wiser life.
- No one achieves financial freedom and becomes millionaire overnight—unless it is by winning the lottery! It takes time and good habits.
- Failure and de-motivation are a part of life, but the ones who keep moving past these obstacles are the true winners in the long run. When you start to lose motivation thinking about how much more you need to do, think back on how much you have already accomplished! Is it worth letting all that effort go to waste?
- It’s never too late to start changing what is in your control.
- For couples who are both working and earning, they can save even more and achieve their goal of financial freedom even faster. With the right partner, it’s always a big benefit!
- The 80-20 rule—also known as “the law of the vital few”—is a rule of thumb that states that 80% of outcomes can be attributed to 20% of the causes for a given event. This principle is a very powerful and effective tool that one can exercise in their life for
Friends & social circles
- Millionomics smart savings model can be recreated in different environments by sticking to the same basic structure. However, if you find it difficult or feel that it is causing more stress, you may need to tweak certain aspects to fit your life. Roots of my smart savings model go back to my early life learning from my parents.
- Above all, the key is to make the effort to start and find the drive to commit. This is what I like to call the “commit force”—this is beyond your passion, beyond a resolution, beyond your motivation to start. It is what will keep you moving towards your goal even when your goal is very far away. What is pushing you? What is forcing you to commit? Identify this factor and keep it in your sight even when your goal is not.
The amount of money you have has got nothing to do with what you earn. People earning a million dollars a year can have no money. People earning $35,000 a year can be quite well off. It’s not what you earn, it’s how you spend.
- Paul Clitheroe