How to Become Millionaire

Anyone in India who is short of money wants to become a millionaire.

This is the dream of the people. But just as a goal cannot be achieved just by thinking, in the same way one cannot become a millionaire just by wanting.

There are two or three ways of doing this. You start a business and get success in it, so that you become rich. Or you add money by working hard and keep investing it. But there is another easy way. Know further what is this method.

Do Financial Planning

People often work very hard to become rich. But it is not that everyone fulfills the dream of becoming a millionaire.

But it is possible if proper financial planning is done.

Whether the target is to become a millionaire or any other kind, it is possible if there is continuous effort to achieve it. The way we are talking about is the way of cutting expenses.

Avoid Wasteful Spending and Become Rich

You can easily become a millionaire by avoiding wasteful expenditure. By the way, this is an easy way to listen and it is, but you have to beat your mind at many places.

Because you will not be able to spend money on things like pizza-burger. If you smoke then leave it.

Health will also be better by this and money will also be saved. Similarly, reduce tea-coffee, stop eating outside, use less expensive means for travel.

Save Rs 100 Everyday

If you avoid spending wasteful daily, then you can become a millionaire by saving just Rs 100 daily. You have to save Rs 100 from tomorrow itself throughout the day. In this way this money will be Rs.3000 per month.

Means in 30 days of the month you can save Rs.3000 by saving Rs.100 daily.

Now invest this money every month. It would be better to invest Rs 3000 every month in Mutual Fund SIP. This money will be very useful in your old age.

Know the Calculation of Becoming a Millionaire

Now let’s do the calculation to become a millionaire. If you deposit Rs 3000 every month for a period of 30 years, then during this time you will deposit total money of Rs 10.8 lakh.

You can get an annual return of 12% on this. With this annual return, you will be the owner of Rs 1.05 crore after 30 years.

Your profit will be manifold for just Rs 10.8 lakh.

How Much Will Be the Profit

You will invest Rs 10.8 lakhs in 30 years, while after 30 years according to the calculator you will be the owner of Rs 1.05 crores.

In this way your profit will be Rs 95.1 lakh. Even better if you want to deposit more money. With that you can become a millionaire quickly.

The question revolves around whether you can save at least Rs 100 a day by cutting your expenses? This planning will be better in the new year that is going to start.