“The day my husband and I became millionaires was a lot like any other day.”

Liz Pulliam Weston has a great piece up at MSN’s Money Central called “So You Want to Be a Millionaire”. Weston describes how she and her husband have used a goal-centered approach and hard work to achieve financial security.

Pulliam writes:

If you want to be a millionaire someday, I hope that our experience — and those of millions of others who have achieved this goal — might provide some insights and inspiration for getting there.

We didn’t, for example:

  • Win the lottery.
  • Score a big win in the stock market.
  • Inherit a huge pile of cash.
  • Appear on any reality shows.

We do, however:

  • Make financial security a priority.
  • Spend less than we earn.
  • Save and invest regularly.
  • Pay down our debt.
  • Own a home.
  • Maximize our incomes.

She then goes on to provide specifics about her financial philosophy, and explains how it has helped her get rich slowly.

You’ve got to want it and plan for it.
Set goals. Create a budget. Actively work toward your goals, and follow your budget.

Live within your means.
Pay yourself first. Use credit cards as a convenience, not as means to buy stuff you cannot afford. Automate financial decisions when possible.

Invest regularly and don’t stop.
Don’t play the market, just stay the course. Automated investing plans are excellent. Don’t cash out your retirement when you leave a job; roll it over.

Be smart about debt.
Avoid debt when possible. Sometimes, as with a mortgage, you have to take on debt. Avoid all high-interest debt.

Own a house, and don’t waste it.
Don’t buy more home than you need or can afford. Don’t tap into your equity for frivolous spending.

Invest in yourself.
Pursue education. Learn new skills. Start your own business. Live for today.

If you’d like to learn more of Weston’s advice, read the entire article.

[via Free Money Finance]