« April 2011 | Main | October 2011 »

August 2011 Archives

August 23, 2011

10 Reasons You Aren't Yet A Millionaire

A good article from SavingAdvice.com. Good reminders.

The reason why you aren't a millionaire (or on your way to becoming one) is really quite simple. You probably assume it's because you aren't earning enough money, but the truth is that for most people, whether or not you become a millionaire has very little to do with the amount of money you make. It's the way that you treat money in your daily life.

Here are 10 possible reasons you aren't a millionaire:

10. You Care What Your Neighbors Think
If you're competing against them and their material possessions, you're wasting your hard-earned money on toys to impress them instead of building your wealth.

9. You Aren't Patient
Until the era of credit cards, it was difficult to spend more than you had. That is not the case today. If you have credit card debt because you couldn't wait until you had enough money to purchase something in cash, you are making others wealthy while keeping yourself in debt.

8. You Have Bad Habits
Whether it's smoking, drinking, gambling or some other bad habit, the habit is using up a lot of money that could go toward building wealth. Most people don't realize that the cost of their bad habits extends far beyond the immediate cost. Take smoking, for example: It costs a lot more than the pack of cigarettes purchased. It also negatively affects your wealth in the form of higher insurance rates and decreased value of your home.

7. You Have No Goals
It's difficult to build wealth if you haven't taken the time to know what you want. If you haven't set wealth goals, you aren't likely to attain them. You need to do more than state, "I want to be a millionaire." You need to take the time to set saving and investing goals on a yearly basis and come up with a plan for how to achieve those goals.

Continue reading "10 Reasons You Aren't Yet A Millionaire" »

About August 2011

This page contains all entries posted to Strive4impact Main Page in August 2011. They are listed from oldest to newest.

April 2011 is the previous archive.

October 2011 is the next archive.

Many more can be found on the main index page or by looking through the archives.

Powered by
Movable Type 3.36