Stats: 3,189,143 members, 7,936,545 topics. Date: Saturday, 31 August 2024 at 03:52 PM |
Nairaland Forum / Nairaland / General / Business / These Four Reasons Are Stopping You From Being A Millionaire (663 Views)
What Is Stopping You From Importing? *UPDATE: Need help with Suppliers? / What Factors Do You Feel Are Stopping You From Making Money From Online Business / "Binary Option Trading (become A Millionaire In A Year)" (2) (3) (4)
These Four Reasons Are Stopping You From Being A Millionaire by ebijimi7(m): 5:41pm On Aug 25, 2015 |
So when you know how much Dangote Owns and how much Mike Adenuga Donates to charity, your heart gets to skip a beat and it leaves you wondering, will you ever make that much money? It’s unlikely you’ll ever experience that. Sorry. Unless, of course, you can overcome the following four roadblocks stopping you from achieving millionaire status. Each roadblock below also offers an “immediate action step” to help you overcome the things holding you back. Let’s get started. 1. You don’t understand how money works. Money is not a complicated topic, but still, few seem to really understand how it works. Do you? Sure, you can blame the Goodluck Jonathan, the witches in your village, school system or your parents, but the responsibility is still on you to figure out how money is made, how it is held, how it is invested and how it is preserved. Millionaires understand that money is not something that is discovered, won, or created by chance. Wealth is not an accident, but an action . Building wealth is the world’s largest game, and if you want to win, you need to learn the rules. So start studying. Immediate action step: Start by reading several great money books, such as: Rich Dad, Poor Dad by Robert Kiyosaki The Total Money Makeover by Dave Ramsey The Richest Man in Babylon by George Clason But don’t just read, internalize the knowledge. Debate it. Talk about it with your spouse, grandma and friends. Personal finance can be learned, and by mastering it, you might discover that wealth is much easier to build than you previously thought. 2. You don’t value your education. I get it: you are busy. You have 25 hours of work to do every day and there simply isn’t enough time to get it all done. That’s the life of an entrepreneur, so something needs to be sacrificed. Chances are, you are sacrificing your continuing education, and it’s severely hurting your chances of becoming a millionaire. Wealthy people never stop learning, despite the business in their life. When is the last time you scheduled “learning time”? Do you just try to “fit it in” when everything else is caught up? Trust me – it’ll get you far closer to millionaire status than those TPS reports you were planning on working on today. 3. You live to your means. What are you doing with your extra money each month? I know, you probably don’t have any left over. Your boss doesn’t pay you enough. Your company hasn’t taken off yet. Or whatever other excuse you have. But let’s face it: you are spending too much money. No one cares how much you make – it doesn’t matter. Everyone lives to their means. You could make N20,000 per month or N200,000 per month and you’ll still be broke. Millionaires have made a conscience decision to live on less than they make. Instead of upgrading their life every time they make more money, they choose to put that extra cash to work for them through various investments, such as their business, stocks, real estate or other assets, which we’ll talk about next. Immediate action step: Start documenting where your money is going to for the next three months. Figure out where every single goes to, organize the entire list into categories. Then, create a solid budget for your future. 4. You don’t collect assets. A job will never make you rich. Neither will saving all your cash in a box. So how can you build that wealth? Start collecting assets. An asset, as defined by Investopedia.com, is “a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit.” Millionaires collect assets. It’s as simple as that. Do you? Your car is not an asset. That shiny new electronic gadget on your arm is not an asset. These are all liabilities that are robbing you of future wealth. Stop collecting these, and start collecting things that will make you money in the long term. Immediate action step: Make a detailed list of all the assets in your life, as well as their current value. Are you comfortable with this list? Then, make a detailed plan to acquire more assets and make a pact with yourself to NOT buy so many liabilities. Becoming a millionaire is not impossible. In fact, it’s relatively easy when you have time on your side and the knowledge to do so. However, it does require overcoming hurdles, which can be tough. If you want to achieve a million dollars in net worth, or more, continue to learn about the game of money, value your education, live below your means and start collecting assets. You’ll get there soon enough! also check out what my link has to offer massivesavereview..com don't be left out generate more income visit massivesavereview..com 1 Like
|
Re: These Four Reasons Are Stopping You From Being A Millionaire by olafum1(m): 5:42pm On Aug 25, 2015 |
Ok |
Re: These Four Reasons Are Stopping You From Being A Millionaire by demmy0325(m): 5:43pm On Aug 25, 2015 |
.. |
Re: These Four Reasons Are Stopping You From Being A Millionaire by Kenzico(m): 5:46pm On Aug 25, 2015 |
Bro...u make sense |
Re: These Four Reasons Are Stopping You From Being A Millionaire by kelechi50: 6:17pm On Aug 25, 2015 |
@ op which class of people are u addressing,the have or the have not.is it the people that hardly eat two square meal per day will save to become a millionaire,I pray for ur theory to happen |
(1) (Reply)
Anyone Experienced In Aliexpress Business? / KAI Operatives Invade Ojodu Berger Market, Forcefully Eject Roadside Traders / Lists Of All The Cbn Forex Restrictions Since February 18th 2015 Till Date
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 19 |