1. Focusing much on savings
Saving money is important to your wealth, but you should not concentrate much on savings and neglect increase your income.
Also, if you start thinking like the rich, “Stop worrying about running out of money and focus on how to earn more,” advises author and self-made millionaire Steve Siebold .
2. Do not invest money
One of the most effective ways to earn more money is to invest in projects or business opportunities.
“On average, millionaires invest 20% of their household income each year. Their wealth is not measured by the amount they earn each year, but by the way they have saved and invested over time,” writes Ramit Sethi in his New York Times bestseller: I Will Teach You to Be Rich.
3. Settling a fixed salary
The means people choose to get paid over time by having a fixed or hourly wages, while rich people choose to get paid based on results and they usually work for themselves.
While the best continue to start businesses and build wealth, the majority agrees to live in financial mediocrity remaining in a job with low pay, said Steve Siebold.
4. Buying things you can not afford
If you are living above your means, you will not get rich.
Even if you start to earn more or get a raise, do not use it as a way to spend more.
“I have not bought my first watch or luxury car when my businesses and my investments produce multiple streams of income guaranteed,” the self-made millionaire Grant Cardone in Entrepreneur magazine.
“I still drove a Toyota Camry when I became a millionaire. Be known for your work ethic, not the toys you buy,” he said.
5. Pursue the dream of someone else
If you want to succeed in life, you have to love what you do. This means to define and follow your passion.
Too many people make the mistake of following the dream of someone else such as their parent, says Thomas C. Corley, who spent five years doing research on self-made millionaires.
When you pursue dreams and goals of someone else, in the end, you will be unhappy in your life.
6. Stay in your comfort zone
If you want to create wealth, success, and move forward in life, we must get used to the uncertainty or discomfort.
Rich people in particular learn early that becoming a millionaire is not easy and the need for comfort can affect their success. They learn to be comfortable while operating in a state of uncertainty content, said the millionaire Steve Siebold.
7. Do not have clear objectives for your money
The money does not appear alone; you must work for it. If you want to create wealth, you must have a clear objective.
Rich people choose to be engaging to achieve wealth. It takes concentration, courage, knowledge, and effort – but it is possible if you have clear goals and a clear vision, emphasizes the self made millionaire T. Harv Eker, “The No. 1 reason the most people do not get what they want is they do not know what they want. rich people are quite clear that they want the wealth. ”
8. Believing that getting rich is beyond your reach
“The average person believes that being rich is a privilege granted only to the lucky people,” Siebold writes. “The truth is, in a capitalist country, you have the right to be rich if you are ready to create tremendous value for others.”
- Entrepreneurat
Eze Afrika
