Walking In God’s Favor: Tell those rich in this world’s wealth to quit being so full of themselves and so obsessed with money, which is here today and gone tomorrow. Tell them to go after God, who piles on all the riches we could ever manage—to do good, to be rich in helping others, to be extravagantly generous. If they do that, they’ll build a treasury that will last, gaining life that is truly life. 1 Timothy 6:17 MSG
Who Wants To Become A Millionaire?
We enjoy encouraging people who have a plan, passion, and a purpose for becoming wealthy. You can be in the middle of a recession and you will find people who continue to seek creative ways to realize their financial goals. We believe personal stewardship is the pathway to your success.
Deciding to become a better steward of your wealth takes wisdom, diligence, and prayer. If you seek the spiritual power that God gives you to get wealth, you are going to have to think differently, and make choices that will move you toward your financial destiny.
Identifying North America’s Millionaire Families
You will be surprised to discover the profile of those who accumulate financial prosperity in America. According to Thomas J. Stanley & Williams D. Danko, authors of the The Millionaire Next Door, who researched Americans that have a net worth of a $1 million or more.
Their findings are interesting. Usually the person is an entrepreneur, who has lived in the same city all their adult life. They own either a service company, small factory, or chain of stores. They remain in a lifetime relationship and have married once. They live next door to people with a fraction of their wealth. They earned their money on their own, and 80% are first generation rich.
Millionaire Families Life Lessons or Traits
Here’s seven common traits or life lessons found in millionaire families who successfully created wealth in North America: (Adapted from the The Millionaire Next Door)
1. They live well below their means.
2. They balance and integrate their time, energy, and money efficiently in ways that create wealth.
3. They believe that financial independence is more important than displaying high social status.
4. Their parents did not give them their wealth.
5. Their adult children are economically self-sufficient.
6. They are good at finding and targeting marketing opportunities.
7. They chose the right occupation.
Do you want to leave bills or benefits to your family? Jesse Jackson in his book, It’s About Money, says “Income without wealth, is just flash without cash.” Always remember, income is based on your paycheck, and wealth is based on your assets (what you own). What you own is your assets minus your liability equals your net worth. True wealth can be passed along to your children’s children.
Prayer: Lord, thank You for wisdom that creates wealth.
Michael J. Vance is the co-host of a weekly podcast Better Husband Father Man a hub for all things marriage, parenting, and self-improvement. Michael J. Vance is the financial & benefit risk manager at Hundley Batts & Associates Insurance Agency. Ardella Vance volunteers her time, talents, and financial resources to causes she is passionate about. Ardella Vance is a gifted educator and a Master Guide in the Pathfinders Club, a global organization empowered to teach life and leadership skills to young people. The Vance’s have been married well over 30 years and share their lives with four adult children and nine grandchildren. They currently reside in Huntsville, Alabama and blog from their 30-day spiritual guide “The Stewardship of Wealth“.