How To Become A Millionaire: Living Below Your Means

You'll never amount to anything if you can't successfully live below your means.

Sure, you probably won't be super rich and driving a super car anytime soon while pulling in twenty thousand dollars a year. That isn't to say that you can never become wealthy. There are however several key factors to building wealth that will surely determine your abilities to succeed. The most important, and unfortunately the most ignored principle people face is that of living below their means. The biggest problems I believe tend to be psychological. The first issue being that of the get it now, pay for it later mindset.

Credit Card Debt Can Destroy You

Most difficult of all, is maintaining and using credit cards properly. The average person can't, not for the lack of trying, it is just extremely difficult to resist purchasing something you believe that you need now, and expecting to pay for it later. Knowing all to well the perils of credit cards, I purposefully leave mine at home. Now when an apparent need for them arise, I would have to go back home, and get them. Usually by that time, I have reconsidered the need for whatever it was that I wanted in the first place. However, if your not consistently renting vehicles, or staying at motels, you should reconsider even having them.

No matter the emergency, if you've reached a point that you need a credit card to bail you out, consider that if you make a purchase with it and pay for it with your next pay check, it is very likely that you'll end up in the same situation again since your next pay check will be taking an unexpected hit. This can, and often does lead to a cycle that is extremely difficult to break from, especially for those that are living pay check to pay check. It's often better to admit defeat, and find an alternative rather than making that purchase on a credit card.

If you choose to keep, and make use of your credit cards, you've got to be extremely disciplined in their usage, and always sleep on a financial decision. It is all to easy to justify a temptation and fall prey to the idea of instant gratification. Instead, wait a full day and decide if you truly need it, or if you could do without it. If you would truly like it, come up with a savings plan for it. Earning something by working hard to fight temptation, and saving over time is so much more gratifying.

Reducing Your Cost Of Living

Reductions of cost is often much more effective than complete elimination. For example, instead of deciding to for example get rid of your cell phone, figure out what features you absolutely need, and which you could do without, then call your provider and get those features removed, and ask them if they can provide a better deal on those features that you do need. You'll find more often than not, that your provider is more than glad to give you a deal, you've just got to be willing to ask for it.

Of course, eliminating an expense completely does offer its own benefits, however it can lead to future over indulgence which can cost more than having it did in the first place. For example, if you're a coffee drinker, it is probably best to continue drinking coffee, but at a reduced rate. Quitting completely can just lead to you falling back on it, and end up drinking and spending more than you ever did before. So be completely sure you can do without something before getting rid of it completely, and test it out. If you think you can do without a cell phone, then take it and toss it in a drawer, and see how you feel in a week. If you found yourself taking it with you, or constantly checking it, then you'd be better off finding features you could reduce, and trying to get a better deal from your provider rather than getting rid of it.

One major expense that many people have is power and fuel, and we use it with such disregard. It takes some getting used to, but you can make it habitual to turn your car off when idling, or shut the lights off when you leave a room. After a week or so it'll become second nature to think about shutting down things that are not in use before you leave. Another thing to do is before purchasing big ticket items like washers, dryers, freezers, stoves, microwaves and the like is to make your decision based on its energy efficiency rating, and what you truly need.

There are many things you can do in your own home to reduce your cost of living, so take a look around and make it a game to try and reduce your utility usage as much as possible, not only does it help your budget, but it helps the environment as well.

Conclusion

Reducing your credit card dependencies, and cost of living can help you live below your means, but don't limit yourself. Always be looking for new ways to save money, whether it be brewing your own coffee, or switching to cold water detergent. There are a lot of cheaper alternatives, and methods to decrease your costs. So long as you open your eyes to them. The next post on the How To Become A Millionaire series will be on the topic of budgeting, and using excel to make living life with a budget a lot easier.

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How To Buy Your Next Car With No Car Payments And Become Wealthy In The Process

It's no secret that many of us may "need" a car in order to get back and forth to work, school, and other places. However I must challenge you to ask yourself if you really need to finance or lease that car or is that simply a want? I developed a very simple but highly powerful way for you to both have your cake and eat it too. In other words a system which allows you to buy a car, avoid car payments, avoid high insurance premiums, avoid paying interest, and become wealthy in the process. If you can start off by sacrificing for just 24 weeks then I can put you on the path towards wealth. Ready to find out how? Keep reading.....

1. Start off by sacrificing for just 24 weeks (6 months) and make a decision NOT to finance or lease your car. Instead take the bus or the train, get a ride, roller skate or yes even walk! Who knows, you might even lose a few pounds.

2. Open up a savings bank account (separate from your normal account) and put $500 per month in it for six months. I hear you asking where in the world will you get the $500 from but don't forget, if you had chosen to make the mistake of financing a car, you would have been paying about $500 per month anyway when you factor in the car note and your insurance payment for full coverage which is required when you finance.

3. Fast forward. Hooray...six months has passed and now you have $3,000 in the bank but hold your horses. You are not going to spend it all on your car. Instead you will only be spending $2,400 of your newly found money. This should allow you to get a pretty decent used car from an individual out of the paper. Make sure you use Kelly's Blue Book to make sure you aren't overpaying for your vehicle.

4. When you begin your search, you will call people who have their cars listed at $3,000 to $3,500 however you will be a super negotiator by refusing to pay any more than your budgeted $2,400. I know what you may be thinking, now you have $600 left over to party right? WRONG! Once you have finally located the car you intend on purchasing, $100 of that balance will be used to pay a good mechanic to check out your car from bumper to bumper to determine if anything needs to be repaired that you might have missed. If anything does need repairing then tell the owner you will need for the items to be repaired before buying or you will need for them to deduct the repair amounts from the purchase price. If they refuse then keep moving to the next one. You may have lost $100 but you will have also saved a lot more in repair bills.

5. OK, let's assume the car checks out fine and you buy it. Now you have a $500 emergency cushion in case anything may need repairing in the future.

6. Now that you have your car you absolutely DO NOT stop saving $500. Why...you might ask? Because if you had financed the car, then you would have ended up paying that $500 per month for the life of the loan for the next 5 years anyway. The only difference is now you will be paying it to yourself instead of to the dealer.

7. Next you will be opening up a mutual fund for investments. Remember how you used to tell yourself that once you found some extra money you would begin investing? Well guess what? Now you have some extra money to invest. You are going to set up your mutual fund so that $250 is automatically taken out of your car fund bank account every single month and deposited into your mutual fund account. The other $250 per month will stay in the bank account and keep adding up.

8. After 12 months has passed you will now have $3,000 in the bank. ($250 x 12). If you choose to get rid of your (paid for) car and upgrade you simply have to sell your current car and add that amount to the $3,000. Let's say you were only able to sell your car for $1,000. You now would have a total of $4,000 for your next car. You set aside $3,400 of that money for your next car. Remember, we always leave a $600 minimum cushion to cover emergency repairs. Next we repeat our steps from earlier. We look in the paper for cars in the $4,000 to $4,500 range and negotiate them down to our budget. Next we take $100 of our set aside money to get the car checked out from bumper to bumper just like before.

9. Once again we DO NOT stop putting $500 per month in the bank. Keep in mind that while we are doing this, $250 is still automatically being taken out and put into our mutual fund account every month.

10. All you have to do now is just keep repeating the steps and you will never again have to finance your car and you will be on your way to wealth and all it took was 24 weeks of sacrifice in the beginning to accomplish.

Note: After 5 years of putting $250 per month into a mutual fund earning on average about 10% per year you will find that your investment account has grown to $20,147. With that money you can buy a house, start a business, or invest in real estate and really get your wealth building into gear. Congratulations, you are now officially an investor instead of just a consumer.

Note: If after 5 years you stopped putting money into your mutual fund account and just let it sit there and grow at an average rate of return of 10%, here is what you would have:

5 years: $32,446.94

10 years: $52,256.13

15 years: $84,159.02

Remember, these numbers above assume that after the first five years you didn't add a single additional dime to the investment. Welcome to the wonderful world of compound interest. Happy wealth building!

Article Source: http://EzineArticles.com/expert/Shaun_Maddox/156057

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Robert Kiyosaki how become rich, how can i get rich part 1

Wealthy Marketer - Review on How You Can Become Wealthy Online

We'll give you a review on how to choose a viable way that will enable you to become a wealthy marketer utilizing the internet. We suggest getting started by doing some sort of affiliate marketing. The best part about affiliate marketing is there are so many products that you can choose to promote. When you join an affiliate program site like Click bank, you will have the opportunity to sell a multitude of different products.

The next step after you've found a product that is legitimate and not a scam or something of no value, you need to advertise it. There are several options to promote your product or service such as pay per click, blogs, article writing, press releases, free ads, and more.

Pay per click ads are probably the most popular way to do advertising. What you do is bid on several different search phrases or keyword terms that apply to the service or product you are marketing. You would then be charged a fee no higher than your bid price each time someone would happen to click on your ad. It is one of the fastest ways to get you up and running, but be sure to do research before you run any campaigns because it can be a very costly form of advertising. Pay per click must be used properly in order to be profitable.

Blogging is an excellent way many wealthy marketers choose to sell their products. A blog is very simply a website you create to express your viewpoint about specific things and where others can comment and share their views. Blogs are very easy to create and are one of the simplest ways for someone brand new to online marketing to start earning some money. What you do is put a few links in your comments that lead back to your affiliate page or personal website.

Writing an article or review is a really effective way to help promote your service or products. An article should be written with at least 300 words on your particular subject. You can then submit it to a multitude of article directories that are available online. You can do this totally yourself or through what we call an article submission service.

Press releases are a fantastic way to become a wealthy marketer through self promotion. The search engines love press releases. What you will want to do is write something about your product or service you are marketing and a little bit about yourself and then submit it and you should be listed in the search engines within 5-7 days. Just be sure to list the keywords you are targeting in the press release title line.

Free classified ads can be placed also. This is the least effective way to advertise unless you place a massive amount of ads with many different services. You can really increase the effectiveness by paying for the upgrades available with many ad companies. The upgrades allow you to be at the top of all other ads and create much more exposure for your site.

Most entrepreneurs don't understand the crazy income potential available to them over the internet. Many millionaires have been created in a very short time span once they figured out how to market properly and generate massive traffic to their website.

For a newbie, there can be a pretty big learning curve in online marketing. If you are sincerely interested in becoming a wealthy marketer online, then you should prepare yourself for some frustrating and disappointing moments. You will also find that once you conquer these issues, you will be glad you stuck it through because you will like the results.

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Build Momentum and Get Rich Like Donald Trump

Interesting video

5% of All Internet Marketers Become Wealthy - What is Their Secret?

95% of new Internet Marketers fail within the first 6-months. But 5% go on to create successful and wealthy Internet businesses, providing them with the freedom and luxuries that they once only dreamt about.

You too can belong to this 5% group of successful and wealthy Internet Marketers irrespective of your experience, knowledge or even your Internet know-how. You just need to have the passion, commitment, persistence, patience and the willingness to learn new things, and then you will receive your rewards of success.

It is important to avoid the mistakes that the majority of marketers make that result in disenchantment and ultimately failure; some of which are highlighted in this article.

Realistic Expectations

Newcomers to the world of Internet Marketing are often mislead by false promises of instant riches. You have probably come across the plethora of get-rich-quick-programs where you can earn that six figure sum now. These are just scams. If these were true, why would they reveal their secrets and not keep that money-making-machine to themselves? If it is too good to be true, then it probably is. There is no short-cut to success you must plan your business and set you goals and follow the simple internet marketing steps. This proven process will enable you to achieve your goal of having your own successful Internet marketing business.

Determination and Patience Brings Success

Patience is a virtue and it couldn't be truer than when applied to Internet Marketing. New marketers after finding their niche and having set up their sites often become disillusioned when they get no visitors. Consequently, they give up after a few months after seeing no results. It usually takes months and not weeks before you are rewarded for your hard work determination and persistence. There are many simple ways to get visitors to your site; it takes a little work and it is easy to do and is a continuous task. However this topic is too large to take up within this article. But, this information is freely available on our site.

Perfectionism

It is so easy these days to have a website. You don't even need to be able to spell HTML to have a site up and running within minutes. Most hosting companies provide you with the templates and the very easy to use tools for even the least Internet savvy individual. This information is freely available on our site.

However, many new Internet Marketers spend weeks and months analysing and changing their designs, getting neck-deep in technical jargon such as SEO, and then wonder why their amazing improvements has not brought in the anticipated traffic.

You have to remember that people visit your site for one reason and one reason only, they have discovered your message on the web, and they want to know more. They don't care if your graphics are amazing; they are just interested in your written content and what it can do for them.

Just ensure that it is neat, but more importantly your written content conveys clearly what you want you want to say, and answers the marketing message that you put out on the web.

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The 7 Laws of Wealth | Ben Benson | Full Length HD

5 Reasons Why Most Don't Become Wealthy

How to Become Wealthy - The Insider Secrets to Become Wealthy

How Can I become wealthy? Many people daydream and even organize their plan of action to obtain wealth. What do the wealthy know, and how can you use that to help you to become wealthy?   The fact is majority of people did not create their wealth by buying a lottery ticket, or stumbling across a long lost relative that left them a fortune. Those that created their riches, created it by having the right mindset, and finding the right opportunity to create that life style.  

You want to become wealthy; it all starts with evaluating your values, and up bringing. Most of us were geared from a young age to believe you go to school, get a degree and find a job.   What is wrong with this philosophy, it is the rule of thumb we all use, but ever wonder why a small population is wealthy.   Education is critical in all markets of life, but most will not teach you how to create a rich life style.  They will not give you the critical elements and teach you how to build a business to create your own wealth. You don't hear of a Wealth Building Class, on the high school class list, your core values start as young as pre-school. You can see the challenge with many to start thinking and creating that millionaire mindset.

Become Wealthy - Your Action Game Plan

You have to work on your core values. The rich did not become rich without stepping out of the ordinary.   They stepped out of their safety zone, and got rid of the nine to five rule. Majority of the high income brackets are not working for someone else rather they are creating their own businesses, their own products and services to prosper.

 Your Action Guide To Become Wealthy

1.) Wealth Building Mindset Change - It all starts with you, and your thought process may have to change a little. This is not often an easy task; as for many they have the work ethic of a nine to five job. What the rich know is that majority of the time that job is not going to make you rich. Start saying today, that I want to stop working for someone else and want to make a change to improving mine. Understand as of this moment the only one in charge of your financial situation is you.

2.) Where Do The Wealthy Start From - Some were born with a silver spoon in their mouth, but there is not since crying over the fact that the silver spoon was not in your cards. Think of some of the top millionaires, usually Donald Trump, trumps the list. What does he do, how did he create his millions?  If you examine the trends you will notice the majority of the wealthy, are entrepreneurs.

3.) Where You Are And Where You Want To Be - Okay nine chances out of ten what you are doing now is not working. Where are you now, is their open possibilities in your position that you are not exploring. What do you have to change in order to become wealthy? Now most are going to fire their job, until they are showing real profits and change. But maybe it is time to look in different directions.

4.) Internet Wealth - Becoming an entrepreneur and starting a successful business was more difficult years ago. In modern times there are more platforms and avenues to create your wealth. The worldwide web, and Internet Business start-ups are changing people's financial services. Compared to starting a bricks and motor business, there are lower start up with higher returns. For thousands each the Internet Business, or home based business industry is giving many a road map to success, without large overhead, and large set up fees.

5.) Online Mentoring and Coaching - Anybody who is wealthy did not  achieve those results without finding a mentor and training platform. This is not the type of training you can get in school, rather life methods and business building methods needed to create wealthy. In order to obtain your wealthy you need to align yourself with successful people. Seeking out a mentoring or coaching team to teach you how to build a successful business, and how to get that business to start creating your wealth is critical.

6.) Take Action - The wealthy did not just sit on there hands and wait for the day there life changed. They started to take action steps to become wealthy. Start researching different avenues. Start researching Internet Business, look for a mentoring team that can teach you how to build a successful business. 

If you want to become wealthy it has got to start with you.   The formula to changing your lifestyle goes beyond wishing and wanting for a better life, it goes toward changing your thought process, and then aligning yourself with successful people and getting the right training towards reaching your goals. The first step to become wealthy is to step out of your safety zone, and reach for those goals. Are you meant to become wealthy, I do not know and neither will you unless you start changing your mindset and breaking out of your safety bubble to seek your own wealth.

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How to Get Rich

Sound advice, what do you guys think?

Secrets on How to Become Wealthy

Wealth and comfort are so synonymous that it is somehow impossible to separate the two. Now when you consider the extent of hardship in this world it makes sense that people desire comfort. But there is no real way to find comfort in this world without wealth of your own. Learning how to become wealthy is useful arsenal in the war against poverty and insecurity.

Hard work and determination are the two most basic tools for success. Without a certain degree of hard work it might take a bit more time to achieve wealth as compared to when you're perseverant and energetic. Laziness and lack of motivation will only bring you down and disable your hopes.

A dream of success is best served when it is clear and plain. This way you know exactly what you want and need. But if you don't know why you're pursuing wealth you will struggle to maintain the necessary focus for success. Sit down and think hard about what you want and tell yourself that the only way you're going to achieve those things is by applying your heart; mind and energy towards that.

Business corporations startle people by the way they are able to amass such huge sums of wealth. They are almost everywhere you go in the world and they basically determine the extent of your freedom of choice. What makes such companies so successful is the fact that they encompass a number of individuals who have collected their efforts and decided to work towards a similar goal together. Align yourself with other businessmen and you will surely reach your goal a lot faster than if you go at it alone.

Skills relevant to your trade are inseparable from your business success. Be sure that you have mastered a particular skill crucial to the success of your business. Such expertise is important if you're going to please customers and increase your client base. Remember that every client wishes for that all knowing salesman, be that.

But success will be a near impossibility for you if you have a bad reputation; are dishonest and worse still if you're inefficient. Hate it or love it but those people who have succeeded did so because they established a good reputation early on. This is the key to longevity and wealth.

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How To Become A Millionaire, 5 simple steps that will get your there, An...

The New Rich: How to Become Wealthy

Today I want to talk to you a little bit about the new rich, and how to become wealthy. I've been reading "The Four Hour Work Week" by Timothy Ferris and who wouldn't like one of those? But let's talk about the old rich first.

What is the old rich? When I was a kid my family preached to me, "Grow up, get an education, become something important. Be a doctor, be a lawyer, be an engineer, get a good job." Notice that word "good" job.

The idea was that we were supposed to go to college, get a good education, and go to work for a company, probably work for the same company for 45 years, retire with a gold watch and a pension, and then be able to do the things that we want to do with our life. And of course, we're 65 years old by then, retirement age. Now we're going to go start doing the things we want to do? Hardly!

Well, the new rich has turned that upside down. The concept of how to become wealthy has shifted from owning things to having freedom of time to do life on our terms. That old model doesn't work anymore. You can't trust going to work for a company and having a retirement plan. I have a friend who was a 767 check pilot. He flew commercial jets for 45 years. He taught other pilots how to fly commercial jets, yet he had to go back to work and supplement his retirement because his retirement got slashed in half by the airline. You would have thought he would be safe. Nobody's safe!

The idea of the old rich was to accumulate things. How to become wealthy had to do more with things than with life experiences.

The new rich is about living our life on our terms, about doing the things we want to do when we want to do them, and that may mean renting an apartment for six months in Buenos Aires, and it may mean traveling around the United States with our kids. It can mean a variety of different things. But it doesn't, necessarily mean accumulating things. It means doing things. It means accumulating memories, accumulating experiences, and having the time to do the things we want to do and the money to do them.

Now me personally, I'm not interested in big fancy houses and big fancy cars. I love to travel. I love to scuba dive. I love to snow ski and water ski, sail, backpack, hike, camp. Those are the things that I love to do, and I want a portfolio of memories to look back on my life when I'm too old to do those things anymore and remember all the things that I did.

"The Four Hour Work Week", can help point the direction for how you can live your life on your terms, and become wealthy by living life to the fullest and you can begin to do it today. And you can do it from anywhere in the world because in today's day and time, we don't need an office. We don't need a cubicle. We need a computer and an Internet connection. Learn to be an entrepreneur. Take control of your life.

Remember your thoughts are your previews of your life's coming attraction. Dream big my friend and be wealthy and free.