ARE YOU A MILLIONAIRE MATERIAL?

The author of The Complete Idiot’s Guide to Getting Rich, Larry Waschka, says rich people have common habits and characteristics. Furthermore, a person must be willing to work hard and develop some or most of these habits.

His wealth test (this one is modified for Filipinos) is the most effective for us. This is not scientifically accurate but it could give you a picture of where you are right now and how to make the necessary adjustments. This test works best for professionals and those who are presently employed. Answer each item/statement "yes" or "no".

1. I enjoy my present job.
2. I often visualize myself achieving something bigger that what I am doing right now.
3. I save at least monthly.
4. I make an effort to understand an investment before putting in money.
5. I visit shops/stores before I buy especially for very expensive items.
6. I take care of your home or apartment and perform regular maintenance.
7. I make it a point to pay the whole balance on my credit cards monthly.
8. I am comfortable to buy expensive items (like cars, appliances).
9. I have started by own business (any kind).
10. I have estimated how much money you would need in a portfolio to produce enough income to cover your current living expenses.
11. I measure the performance results of your portfolio at least each quarter.
12. My mortgage payment (or rent) less than 20 percent of your total gross household income.
13. I spend less than you make.
14. I have read materials on building wealth or an autobiography about a very rich people.
15. I have a business that produces a positive net income.
16. I have worked all night or more on a project.
17. My mortgage payment (including rent) is less than 20 percent of my gross income.

For each question that you answered "yes", give yourself a point. Add them up then compare to the scale below.

Score 1-5 - Low probability of getting rich6-10 - Average11-15- Very likely16-17- You are on your way!