 Getting the title millionaire is a goal that many people share Although making a million dollars is quite hard because it is the first million It is possible, but saving alone will not get you there In this video, I will share with you 13 practical ways to make a million dollars 1. Change your mindset For many people, achieving their goal of making a million dollars means brainstorming ideas that are worth the million-dollar profit Even though this technique works, it is not the smartest way to reach your million-dollar financial goal One error with this technique is that you might end up missing opportunities and doubting the potential of every single idea that comes up in your head Now, how much do you get when you repeat a ten-dollar profit process for 100,000 times? Yeah, you're right A whopping one million dollars A mass and wealth is more about your perspective and planning than it is about creating a big idea that no one has ever thought about before 2. Be mindful of debt The number one barrier preventing people from living a rich life is getting into wrong debt The word wrong is used because there are two types of debt Bad debts are those kinds of scores you incur to purchase liabilities and depreciating assets While the other kind of debt is committed to buying assets and investment many millionaires are debtors They take loans from banks and put it into investments A student loan is also classified as a good debt According to personal finance writer Candice Elliott the beauty of good debt is that it is essentially an investment just like a stock or a bond you're spending money now in the expectation of getting your money back and perhaps some profit on top of that in the future Paying off your credit card debt and other wrong debt is one of the most important investments you can make into your rich life 3. Serve a million people When you only have a few customers and your goal is to make a million dollars the only option for you is to increase your prizes and squeeze every last dollar from your customers Well, this is an unhealthy practice because soon you will lose all your customers and your business will fold up However, when you find a way to serve a more substantial amount of people the benefit is enormous If you are new in business and have only a few customers if your products or services are top-notch the feedback up referrals can cause a magnificent increase Thus, instead of serving a few people and having them pay more determine to serve a million people by serving the few at hand incredibly well 4. Self-publish a book or sell a course Let's say you get the drift about selling your product to a million people you tried it and it's working for you Do you know that many people are not aware of this information and who are seeking ways to scale their businesses? The next big thing for you to do is to teach it to them Don't worry about the competition there's enough space in the sky Besides, you are not going to be teaching them for free Thanks to Kindle, it only takes an enchanting book cover and an excellent editor to put your book up for sale You can also art for the other option selling out your experience as a course With the aid of your smartphone and an excellent video editor you will be on your way to making an additional thousand bucks 5. Control Spending When people think about millionaires they see beautiful homes and a yacht, several luxury cars first-class tickets and private jet vacations expensive pieces of jewelry just money being used to sweep the ground So, maybe a few billionaires live such lives but this is not the case of an average millionaire Millionaires understand that tiny flops in their lifestyle can drastically affect their financial future hence they value money and are conscious of every penny they make If you cannot control your spending then you should not dream of being a millionaire anytime soon Controlling your spending does not mean you should only eat ramen noodles and beans for the next year it just means that you should be prudent with your spending 6. Sell or invest in something Of course, you cannot become a millionaire by doing nothing According to Neil Roche, founder of nichepursuits.com what usually separates wealthy and successful people from those just scraping by is wealthy people have trained themselves to recognize opportunity If you want to make a million dollars you have to be swift to adopting and executing a plan when you see the financial potential For every opportunity you either sell or invest in a product or service It does not have to be something that has not been sold before you could just improve on an existing product or service 7. Cryptocurrency Crypto is like the hardest deal in the world right now Everyone wants a taste of it and some people have even gone as far as selling their homes to purchase bitcoins but while everyone is fighting to get their hands on more bitcoin the smart crypto investors are quietly making huge amounts of money by other means Many people assume that bitcoin is the only cryptocurrency in the world or at least the only one that pays for now But other smart individuals are making a serious return on their investment with ICOs Initial coin offerings Although its longevity is unpredictable one single trade-off of a profitable ICO could bring you 60% of the way to your target of making one million US dollars 8. Have multiple income streams A funny acronym that has been formulated for the word job is just overbroke Do you know that researchers have even pinpointed a statistic that millionaires on the average have not just one but seven streams of income? Although they may be known for just one thing millionaires usually engage themselves in other income generating approaches If you want to get a million dollars from just the one job you have you might have to wait for a decade before you finally become a millionaire Even with being one of the highest paid professions many medical personnel are involved in private consultancy selling courses online, etc Even though you have a booming business it is not enough to make you a million dollars in the shortest time possible Start with your active and then build your passive Hence you must embrace passive income 9. The stock market Making money in the stock market is not as glamorous as the movie The Wolf of Wall Street makes it seem Just like other ventures, there are times you lose If you are looking for an overnight method to make a million dollars then the stock market is probably not for you The trick with investing in stock is not to focus purely on the value of the stock right now but instead on its future potential value Consider those who invested $1,000 in Netflix stocks ten years ago They would have a portfolio of $50,000 which is 4 times and 20 times what would have been made from Apple stock and Disney respectively Investing in stock can make you a million dollar rich You only have to invest in the right stock and be patient 10. Employee is sponsored 401K 401K is most times referred to as free money It is a retirement account that is offered by an employer whereby an employee puts a portion of his or her pre-tax check at every period before he or she gets the chance to spend it A 401K retirement saving is more than a subtle future investment It also lowers your taxable income For example, if you earn $5,000 a month and invest $1,000 into your account you are only taxed on the remaining $4,000 The best part of a 401K saving is that your employer might even offer you a match which makes it possible to have twice your investment 11. Understand the difference between assets and liability Many people do not understand the difference between assets and liability as well as appreciating assets and depreciating assets For instance, people assume that having a big car or big house is an asset Rich dad, poor dad, Robert Kiyosaki explained that although your net worth may include non-cash producing assets like your art collection, wristwatches and golf clubs they cannot be accurately referred to as assets Those so-called assets can only be sold for only a fraction of the value that is listed in the balance sheet Yet the moment you begin to sell them, you are taxed for gains In general, if you want to make a million dollars focus on acquiring assets such as bonds, mutual funds and royalties that can generate more money and limit amass and depreciative assets 12. Stay in that small apartment Moving to a bigger and spacious apartment is always at the top of the list for many people whenever they get a financial elevation If you want to make a million dollars, you should stay in that small house One fact that a lot of people tend to ignore is that the bigger the apartment you live in the higher your expenses Bigger houses come with significant mortgage payments Experts recommend that total housing costs should require only 20-25% of your take-home pay or 28-33% of your gross salary Total housing costs include basic home service, utilities and renters insurance Except you already have way more than a million dollars you should remain in that small apartment 13. Invest in yourself The fact is that you are worth more than a million dollars The reason why you don't seem to make money is that you run around looking for bonds scheme to invest in Ignoring yourself If you want to make a million dollars then you must invest in developing your talent and being so good at it Even if your professional qualification does not earn you a million dollars your natural ability is potent enough to grant it to you Think of that thing that you are naturally endowed with Read books, learn from mentors, watch YouTube videos and just do anything that will bring out the best in you And then launch You will be shocked by how fast you can make a million dollars There is no trick for how to become a millionaire If you want to make one million dollars you have to consistently get through a series of small everyday actions and decisions