Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,405 members, 7,812,195 topics. Date: Monday, 29 April 2024 at 09:53 AM

This 4 Things Are Preventing You From Becoming A Milionaire - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / This 4 Things Are Preventing You From Becoming A Milionaire (676 Views)

How I Became A Milionaire In Telecoms / When Things Are Hard Don't Gamble With The Little You Have. / 4 Things MMM Has Shown Me (2) (3) (4)

(1) (Reply)

This 4 Things Are Preventing You From Becoming A Milionaire by ebijimi7(m): 2:42am On Sep 07, 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 learn how you can generate more income with just #11,100 only visit

massivesavereview..com

(1) (Reply)

I Need Office Space To Share In Owerri / ... / Make 3 Million In A Year With Eklipse Consults

(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. 14
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.