Behaviors of Self-Made Millionaires We Should Emulate


For the past five years that I’ve been a financial advisor, I’ve been lucky enough to meet a few self-made millionaires. What’s equally inspiring is how they’ve maintained their success over the years. As the saying goes, “It is more difficult to stay on top than to get there.” Hopefully this article will inspire readers as they try to achieve whatever financial goals they have.

They save. You have to change your mindset if you think becoming a millionaire requires doing extraordinary things. The one simple thing self-made millionaires do on a regular basis is that they save. In fact, saving is inherent for them. Once in a while they think of buying luxury items but about 90 percent of the time, they just focus on earning money.

They don’t buy something they can’t do so in cash. Debt is not something self-made millionaires are comfortable having. As much as possible, they want to spend cash or make sure they have the money to cover for whatever they are buying via credit cards. They are very patient; if they want to buy something (especially if it’s luxury), they will save for it first. I know of a businessman who is planning to do so for a luxury watch that he plans to buy after two years. “Pag-iipunan ko ‘to (I’ll save for this),” he said. I was impressed, inspired and humbled. Here was a guy who could afford to buy a P500,000 watch immediately but still decided to wait until he had saved enough. No wonder he garnered that much wealth.

They used to have a simple, modest lifestyle. These millionaires used to be like us – grinding everyday and working hard. But unlike many of us, their lifestyles did not change, or changed just a little, as they became financially successful. Their lifestyles did not move from a Secosana to a Louis Vuitton overnight. They allowed their lifestyles to change naturally, from a Secosana to maybe a Longchamp then a Coach until they knew that they could afford that LV. Many of us tend to go for that instant jump, not realizing that this would become our eventual financial downfall.

They know what they want. Ever had that experience where you saw a friend posting about a purchase on social media, buying it as well and then realizing that you didn’t like it anymore? Most self-made millionaires I know rarely fall for this trap. They just know what they want. They focus their attention on what they want rather than what cool things others have. Combine this with the patience of being able to grow your lifestyle organically then financial success should be inevitable.


Jeremy Jessley Tan is a registered financial planner of RFP Philippines. To learn more about personal financial planning, attend the 68th RFP program this May 2018. To inquire, email or text <name><e-mail><RFP> to 0917-9689774.


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