Money Mindset: Top Four Behaviors of Self-Made Millionaires

If you’re like most people, you probably think that your financial situation is a result of the income you make. But, in reality, your income is a result of your financial situation. In other words, how much money you make is determined by how much money you already have.

There are a lot of factors that affect how much money we earn. How hard we work, the hours we put in, our skill set, and the amount of education we have are just a few examples. However, there’s one factor that can affect how much money we make that most of us believe we have very little control over. And that’s our money mindset.

Having the right money mindset is the most important factor in determining if you will become financially free. This is because your money mindset is what determines your behavior. And you do have full control over it. We can change our money mindset and when we do so we also affect how much money we can make.

In this article, we look at how we can change our money mindset by examining the top behaviors of self-made millionaires. 

But before we begin, let’s take a look at some commonalities of wealthy people.

Common Traits of Wealthy People

Wealthy people have a few things in common. They know how to make money grow. They invest in themselves and their businesses. They understand the power of compound interest. And they’re more productive than the average person (hmm…possibly?). But what is it that makes them so successful? It’s their money mindset.

True wealth seldom comes without having a strong belief coupled with intention and drive.

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True wealth seldom comes without having a strong belief coupled with intention and drive. Wealth will come to you through the power of positive thinking, but you must also put in the work. Think ‘reap what you sow’.

Of course, it’s possible to become wealthy by being lucky, but it’s pretty unlikely. And certainly, the odds are not in your favor. I wouldn’t bank on it.

Wealthy people are those who think positively and put in the hard work needed to achieve their dreams. However, a money mindset alone is not enough to create wealth, but it is a necessary ingredient and makes it possible. It is the starting block that helps build the foundation for financial stability.

Now what we know is that self-made millionaires share some common behaviors. If we understand these behaviors, then we too should be able to benefit from them and use them to improve our financial situation.

So, what are they?

Self-made millionaires set goals and make sure that they do what it takes to achieve them. This requires self-discipline which is one of the behaviors we will examine further. They also have a strong work ethic. They never give up and always keep going no matter what happens. They have a positive attitude towards money and know-how to make it work for them. Self-made millionaires are lifelong learners and have a genuine interest in self-growth.

Now let’s further examine these common behaviors.

Four Behaviors of Self-Made Millionaires

1. Self-Discipline

Self-disciplined people can put aside their wants and needs and instead focus on achieving their goals. They resist temptation and do not procrastinate.

They do what needs to be done, even when they feel like doing something else. Self-discipline allows people to remain focused on their goals. In other words, create a strategy, execute it and don’t give up until it’s done.

Those with self-discipline understand the importance of their commitments and know the consequences of their actions, both positive and negative. They aren’t easily misguided by the trivial things in life that are often just distractions.

Everyone can discipline themselves to do something they want at least for the short-haul. Just think of a New Year’s resolution to lose weight. You have great willpower and discipline for the first few weeks, but then it starts to get harder. You are tempted to go back to your old ways. You miss that ice cream or chocolate cake that has your name all over it. Do you fall to temptation?

Having self-discipline is not easy. It requires work. Self-discipline can only be achieved when you apply the same amount of effort to everything you do, regardless of feelings or emotions.

2. Strong Work Ethic

Wealthy people tend to work hard. They understand the value of money and time, which is why they try to save as much as possible and make the most of the money they have. It’s not easy to become wealthy, but it can be done if you put in the effort.

A strong work ethic is crucial to becoming a self-made millionaire. It consists of two parts. First, you must work hard on your business and strive to reach your goals. Second, you must save and invest your money to ensure that you are leveraging your income to build wealth.

If you don’t have a strong work ethic, you’ll struggle with drive and motivation. There’s no way around it, you have to work hard and put in the time and effort if you want financial freedom. 

Most self-made millionaires will tell you that they work 24/7. Long days and weekends are a normal part of their lives. They’ll tell you that they barely ever see their loved ones. But they will also tell you that the hard work is worth it because it pays off in the end.

3. Lifelong Learners

Self-made millionaires are lifelong learners. They love reading and are highly knowledgeable not only about their own business but current affairs, health, entrepreneurship, etc. Their knowledge base is well-rounded.

Learning doesn’t necessarily come in the form of formal education, but rather in self-education. They see learning and growth as synonymous. That doesn’t mean however that they don’t have two or three University degrees under their belt, but rather that the education does not stop after graduation. 

Education is important to self-made millionaires and many see it as integral to their success. It contributes to making connections with other professionals that can often lead to new business opportunities.

Lifelong learners are people with a high degree of curiosity.

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Lifelong learners are people with a high degree of curiosity. They don’t just want to know something on the surface level. They want to understand how something works, how they can replicate it, and how they can use it either personally or in business.

They love reading, watching videos, listening to podcasts, going to seminars, and ultimately learning from their mistakes. That means learning about personal growth, acquiring new skills and finding innovative opportunities to make money.

4. Positive Money Attitude

Self-made millionaires are very careful with their money. They don’t spend money on things they don’t need. They don’t buy new cars or expensive clothes. They don’t even buy expensive homes. Instead, they invest their money in assets that grow their wealth.

They have a positive attitude towards wealth and money. Self-made millionaires understand how to make their money work for them instead of them working for money. They don’t harbor negative feelings or beliefs which is all too common among the masses. Most of us want more money and when we don’t get it, find ourselves feeling anger and disdain for those that have it.

Just think of your own thoughts towards wealthy people. What is the first thing that comes to mind? Is it negative?

It’s important to be aware of your subconscious thoughts and actions when it comes to money. What is your reaction when you think about money? More specifically those that have money versus those that do not.

 If you have a negative association with money, you’re going to sabotage your efforts. For example, you might spend a lot of time thinking about it, and this will distract you from what you need to be doing.

When you believe you can be wealthy you will attract money to you. Self-made millionaires have a strong attitude towards money that then naturally translates into activities they need to focus on to attract money towards them. It is a simple, yet powerful truth in life.

Money is energy and money is attracted to positive people.


If you think you can’t be wealthy, then you won’t attract money to you. Money is energy and money is attracted to positive people. If we choose to adopt a millionaire mindset, we will begin to behave in ways that will directly benefit our finances.

 A lot of people think that self-made millionaires are smart with money and are good with numbers, while this is true to some degree there’s much more to it than just that. In fact, their money mindset is the biggest factor in how they handle your finances.

Therefore, if we know that the money mindset of a millionaire is infinitely more positive and powerful than that of the average person then how can you change your mindset so that you can start to think like a self-made millionaire?

Closing Remarks

Self-Made millionaires share common behaviors. They have a strong work ethic, are highly disciplined and work towards their goals without distraction. They are continually learning and seeking out new opportunities to make money.

Most importantly, they have a positive money mindset which attracts more money to them. They respect money and careful with their spending. They let money work for them as opposed to working for money.

If you want to change your financial situation you may want to examine your relationship with money. Do you have negative feelings or associations? If so, start by working through those. Once you do that you will find that you are more open and positive, which will help you begin incorporating behaviors that are directly aligned with your financial goals.