10 Top Steps Of Becoming A Millionaire

Author: Precious Uzoma        Posted: 2014-01-07

There are perhaps no more important decisions than to take charge of your own financial future. We live in a world of opportunity and yet most of us are buried in poverty and depth. We are surrounded by people who are getting rich, but most of us are running in place. If you can read this you are literate, have a computer, you are part of the wired generation. You can become financially independent as you wish to be. Here are top ten keys to your financial success:

1. DECIDE TO BE FINANCIALLY SUCCESSFUL; this is different from wishing, hoping or even desiring to be rich. Make a commitment that this is going to happen, financial independence is not an accident or matter of luck, and it usually require inconveniences. Have you decided to achieve this goal?

2. UNDERSTAND HOW MONEY WORKS; most of never studied finance or investment in school. Most of us were never thought even to balance a checkbook! To master anything, you have to understand it, read, study what successful people do. take classes or attend seminars.

3. MASTER YOUR RELATIONSHIP WITH MONEY; some of us spend for excitement, to show off, to prove we can. Some of us are addicted to spending, and some of us are just careless about it. Whatever your relationship with money understand it and develop a relationship of respect, appreciation and gratitude. Use it wisely.

4. SET SPECIFIC GOALS; they should be challenging not unbelievable, just out of reach but not out of sight. Challenge yourself to be out of depth by a specific date. Make a commitment to saving an exact amount each month.

5. DEVELOP A BUDGET; a budget is set of dreams and aspirations. Is how you really, really want to use money to benefit your family and run your life. A budget is a map of your destination. Have one and use it!

6. REDUCE SPENDING; yes, this comes after making a budget, because when you begin getting control of your money, you have powerful new reasons to reduce expenses. Most self millionaire live far below their means! You should too.

7. BEGIN INVESTING; most of spend or speculate. Both are roads to disaster! Invest in things you understand. To invest is not to make a killing but to get rich over time, know and obey the distinction between gambling, and putting your money to work for you.

8. INCREASE ASSETS; most people try to increase their income, and that is a mistake. Making more money means paying more taxes. It time and hard work. And, when wealth arrives in the form of cash, itís easier to spend. millionaires buy stocks and buildings, they invest in assets that will make them rich.

9. REDUCE TAXES; they poor and middle class donít realize how much they pay on taxes because it is deducted from their pay check. The wealthy know that there are legal and appropriate way s to shelter income, to invest in socially-responsible ways, and that the tax code encourages this. Learn the tax law and use them for your benefit! { yes it is the most boring reading you will ever do, and worth it!}.

10. USE YOUR WEALTH WISELY; someone once said, the reason why most of us arenít rich is that we weíd spend it all on ourselves. Give, share and help others. When you use money to make a difference, to have a positive impact, you get the chance to do more. Being greedy and selfish will not draw money to you. Investing on others will!

To know more on how you can be financially independent and be free from poverty, to be exposed to business and job opportunity visit, under business and job opportunities and be handed over all you need to be a millionaire.

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