It’s hard to be generous when you’re worried about money for a flat tire.

It’s hard to be generous when you can barely make your credit card payment. Or your mortgage payment. Or your student loan payment.

Really it’s hard to be happy or stress-free when the “money problem” is pressing down on you.  But a formula exists that, barring any crazy catastrophe or cataclysmic event, can help anyone become wealthy and then in turn release resources to others.  This is that recipe. This week we list 6 (of the 12) things to do in order to become a millionaire.

  1. Automate your investing. Set it and forget it. Look at it once or twice a year max and adjust accordingly.  You want to re-calibrate your percentages.  (next week we list exactly what to put where).
  2. Stop comparing.  You don’t need to have what your neighbors have, or your friends, or your co-workers. Social media image-crafting is crushing us. Does anyone ever post an ordinary or below-average day on Instagram, Facebook, etc.? The comparison game has no winners. Often after surfing around Instagram, I feel like my life is terrible. Don’t compare. Most people’s lives are not as good as their social media presence.
  3. Think about money the right way. It’s not really yours. You are just a temporary steward. Choose to have an attitude of abundance. There is enough money for everyone to have enough. Money is not evil. It can do good or bad depending on its caretaker. The LOVE of money is a root of all evil.
  4. Never ever ever ever ever go into debt. Ever. For any reason. (the only acceptable debt is a mortgage, and even that isn’t great). If you already have some debt, treat it as a disease to be attacked ruthlessly and furiously. It is your financial enemy.
  5. Get a plan and work it. Organize your finances. Write it all down in the same place. All your money, all your debt, everything. When you take inventory, and look at it from a 30,000 foot perspective, you begin to take control.
  6. Spend less than you earn. The difference between the rich and poor is one cent. The rich make $1.00 and spend $0.99 and the poor make a $1.00 and spend $1.01. 
This seems obvious and self-explanatory but most people live beyond their means. Most people spend the raise they get within the first month.

Money can be a tremendous resource and do tremendous good. If you will let it occupy the right spot in your life and your heart. Don’t give it more power than it has. Be a good steward and use money to help others and change the world for good. Next week we will share the final 6 (of 12) practical things you can do to retire a millionaire.

Pete Hardesty

Author Pete Hardesty

Pete Hardesty grew up in Baltimore, MD and graduated from the University of Virginia. Pete then joined the staff of Young Life in 1997 till present. He lives outside of Washington D.C. where he leads the college division of Young Life for the eastern part of the U.S. He loves college students, beach volleyball, and his 2 nieces very much. Likes: His nieces, Ravens football, college people (even though they make him feel old), movies, cigars, Thai food, the Middle East. Dislikes: Country music, tomatoes, shrimp, rice crispy treats, and wet socks. Pete believes because we only get one shot at this life we need to figure out what matters and give ourselves to it. Let’s make it count. If you have a problem with this, he challenges you to meet him behind the dumpster after school to fight.

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