We all want to be millionaires, but not all of us have the extraordinary talent, great business sense or rich parents that can help us put six zeros after our net worth. Still, you can make your money grow, even if you only have a little bit to start with. Millionaires have a certain mindset and if you want to know about savings and investment, they’re the best people to ask. Here are some ideas from millionaires that cost you nothing… or at least next to nothing.

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Invest in yourself
In an interview with Forbes, billionaire investor Warren Buffett said that as a child, he read just about every book about investment that he could find in the Omaha Public Library. One of the best investments you can make is investing in yourself so that you can unlock that great potential within you. For example, there are plenty of free and easy courses that will look amazing on your resume.

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Develop a plan
A great tip from millionaires, according to Lifehack, is to draw up a detailed budget and financial plan. This will help you know how much you have, how much you spend and where and how much you can save. Living according to a budget is one of the ways you can retire with millions.

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Surround yourself with talented people
According to Business Insider, Andrew Carnegie – who was the richest person in the United States back in the day – credited his success to the principle of the Master Mind: the idea that you surround yourself with smart and talented people who share your vision. This way, you can pool your talents and build something bigger than what you would have built on your own.

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Learn to save
According to Business Insider, billionaire Warren Buffett says one of the biggest mistakes people can make is not to learn early on how to save properly. Saving is a habit, according to Buffett; and the earlier you get into that habit, the easier it will become.

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Save to invest
According to millionaire Grant Cardone in Entrepreneur, you need to save to invest, rather than just saving for the sake of it. Of course you need to save for emergencies too, but keep your savings for investments separate. One of the simplest ways to do this is to maximize your employer’s RRSP contributions. After all, not doing so amounts to free money you’re missing out on.

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Automate your finances
Business Insider quotes author Ramit Sethi, saying that automating your finances is a smart way to save. It lets you focus on other things rather than worrying whether you’ve paid your bills. In addition, having money automatically go into a savings account forces you to save, rather than spending it on other things.

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Invest in low-cost index funds
One of the money myths about investment that Canadians still believe is that investing is only for the rich. You can start with small amounts and according to Business Insider, billionaire Warren Buffett suggests investing in low-cost index funds.

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Focus on earning
Millionaire Grant Cardone writes in Entrepreneur that saving alone won’t make you a millionaire. You need to increase your income. So, you need to focus on opportunities to earn more money.

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Develop multiple streams of income
Thomas C. Corley, who spent five years studying the habits of millionaires, writes in Business Insider that most millionaires have multiple streams of income. According to him, many millionaires he studied had three, four, five and even more streams of income. There are many ways to earn extra money. You can even earn money while you sleep.

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Live below your means
Lifehack says that, according to most rich people, living above your means is a huge mistake. Of course you can have nice things, but before you buy them, you need to think about how they will affect your financial plan. In fact, some of the richest people in the world are also some of the thriftiest millionaires and billionaires.

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Avoid debt that doesn’t make you money
Grant Cardone, a millionaire, writes in Business Insider that you should avoid debt that won’t somehow make you money. For instance, only go into debt for a new car if having that car will increase your income.

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Learn how to become decisive
According to Business Insider, author Napoleon Hill studied more than 500 millionaires and found that a trait they all share is decisiveness. They make decisions quickly and with confidence. When they change their minds, however, they take their time to really think things through.

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Learn to think logically about money
Business Insider says that according to self-made millionaire Steve Siebold, who also interviewed 1,200 of the richest people in the world, rich people leave the emotion out of the way they think about money. They leave their fears about money behind and see it as an important tool instead: one that can present opportunities. In addition, how to think is one of the secrets self-made millionaires teach their kids.

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Become self-employed
Millionaire author Steve Siebold says that the way you get paid can keep you from getting rich, according to Business Insider. Even if you have one of the highest paid jobs in the world, a steady paycheque is still the slowest way of getting rich. The fastest way to wealth is self-employment.

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Use other people’s money
Millionaires are’t afraid of asking other people for money to fund their projects. Acclaimed movie director and millionaire Spike Lee, for instance, told Wealthsimple that you’ll get plenty of people who say no, but you shouldn’t let that discourage you. After all, it only takes one yes.

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Buy on sale and in bulk
In an interview with Vanity Fair, millionaire businessman and finance expert Mark Cuban said that a good way to see an immediate return on your investment is to buy on sale and in bulk. He used the idea of buying two years’ worth of toothpaste if it’s 50% off, but you can do it for any consumables or reusables you can’t live without. Cuban went on to suggest that you then put the money you saved in a low-cost mutual fund. Knowing how to find the best mutual funds in Canada will help you with this.

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Know how finances work
Lifehack
says that millionaires often use the advice of financial planners to help them manage their money. These professionals don’t make the decisions for you, but they will explain why a certain decision will be a good or a bad one. However, financial planners cost money. If you don’t have money, at least learn how finances work so you can make informed decisions. You can start with the financial terms most Canadians don’t know but should.

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Set clear goals
Self-made millionaire T. Harv Eker, according to Business Insider, suggests setting clear goals for your money. You need to be realistic, but still think big. Once you have a clear vision of what you want, you can set in motion the actions you need to take to get there. This is one of the important steps in how to become a self-made millionaire.

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Read
Reading is one of the reasons you’ll become a millionaire. It’s something that many of the world’s richest people have in common. According to Medium, Bill Gates reads 50 books a year, Warren Buffett reads 500 pages a day, Mark Zuckerberg tries to read a book every two weeks and Mark Cuban reads three hours a day. The pace at which you read isn’t that important, what’s important is that you do.

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Get paid what you’re worth
According to Grant Sabatier, the millionaire behind Millennial Money, what you earn today will dictate your future earning potential. So, you have to get paid what you’re worth. You need to look at the market rate for your job, but you also need to look at how additional skills can take you a step up the corporate ladder. Finally, you need to know how to ask for a raise.
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