- Having admitted that he had many nice things to buy, Lark Davis said he made a conscious effort to do away with things he can live without.
- He also believes that it is important to create multiple income streams as the average millionaire generates money from seven sources.
Lark Davis is a crypto analyst and YouTuber who has continuously provided analytical videos on Bitcoin and altcoins over the years. His recent video titled “how I became a millionaire, and you can too” mentioned seven important things he did in his journey to success.
According to Lark Davis, the first thing he did to become a millionaire was to guard his inner circle. He believes that it is important to get involved with the right people to become successful.
I learned that letting people in your inner circle can either help you thrive or suck away your time and energy.
He further stated that his circle is made up of people who can lift him, those who can keep their standards, and those he can get ideas from.
One other thing he learned on his journey to success is how to say “no”. He believes that time is the most valuable asset, so it is important to say “no” to things that can take a critical portion away.
The power of ‘no’ is having the confidence to be in control of your time, and the confidence to be in control of your money, reputation, and all.
Davis admitted that income has been a game-changer in his wealth journey. He believes that it is important to create multiple income streams as the average millionaire generates money from seven sources.
This takes many forms for me including stock dividends, crypto staking rewards, selling digital products, YouTube revenues, affiliate income, and fixed-term deposits at the bank.
According to him, it is more necessary to invest than to keep money around.
He also mentioned in his video that he learned to live within his means. Having admitted that he had many nice things to buy, he made a conscious effort to do away with things he can live without.
As your wealth grows, you are tempted to spend more, that is why most people who win the lottery end up broke.
Davis hinted that his total spending is in a percentage and he makes sure that his spending is always in line with his earnings.
I did not come from money. Every single dollar I have, I earned.
He mentioned that he never loses sight of where he came from. According to him, he grew up on food stamps and second-hand clothes. For this reason, he has always had immense gratitude to the universe for bringing this kind of financial blessing into his life and achieving it while doing something he loves.