How One Person Can Become A Millionaire And The Other Not

Have you been seeking how to become a millionaire, but just can't seem to find the answer? The truth of the matter is that becoming a millionaire is really not that difficult in principle, no matter your income level. So what makes one person become a millionaire over another?

How you actually go about obtaining wealth and accumulating money is the easy part. The more difficult aspect is learning how to create a millionaire mindset, and then take action. Before we go there, let's break down some of the fundamental rules that guarantees that you can become a millionaire.

1. Invest wisely. Anyone can invest and get average returns on their money, and that's all it takes, so don't take too much risk trying to beat the market when you don't need to. If you settle for the average 10 percent returns that the U.S. stock market offers, you will double your money every 7 years. That's the power of compound interest at work for you.

2. Keep debt to a minimum, otherwise the money you invest is just a wash. Chances are the monthly percentage rate you are paying on your credit card is far greater than the returns you can realistically achieve through an investment.

3. Live within your means. By doing so, you'll have money to set aside into your investment fund, and therefore can allow money to get to work for you.

Pretty simple right? That's all it really takes. In fact, if you were to set aside just 20 a day, you would become a millionaire in 25 years. That's how significant compound interest and long-term investing is to making you become a millionaire.

This brings us to the millionaire mindset. The fundamental concepts to obtain wealth and become a millionaire are not difficult to understand or do, but having the ability to do this over a lifetime requires patience, an ability to see the big picture and developing millionaire money habits.

Learn the wealth creation strategies of the rich and reach your financial goals. Visit Millionaire Money Habits at http://www.mmhabits.com A free gift will show you how to become a millionaire.

Ryan_J._Taylor

An Overview of Motivation Theory

Motivation is simply defined as the one that kindles change and concentration. As Elbert Hubbard says, "Positive anything is better than negative nothing." True isn't it? Motivation is the one that keeps people to stay focus. It's motivation that helps people to stay optimistic amidst all the challenges that they encounter in their everyday life.

Literally speaking, motivation is based on the word "motivus" which is a Latin term that denotes a moving cause. It is the element that pushes an individual to take action or initiate change. It is the one that keeps an individual to get going.

To best explain the importance of motivation and how it affects the behavior of a certain individual, you should look into this article and discover the whole story of motivation theory.

There are many motivation theories that were conceptualized on account of giving people a vivid picture of what motivation is and how important it is to be motivated. Here are some of the theories of motivation that you should take into account.

Consistency Theory

The consistency theory is based on the principle that people need some form of regularity and control in their lives. It is very important to have consistency for the reason that it is the key element that binds everything as one. Being consistent is necessary not only because it holds everything together but also because it drives people to reach that standard level of stability in this world.

Self-discrepancy Theory

This theory deals with the human self-esteem and how it is affected by the dealings with cognitive elements of the self. People are encouraged to have that sense of consistency depending on their point of views or how they perceive things. This sometimes led to some problems because people have different expectations. This is evident when people don't get what they wanted for example you want to win the first prize for the essay writing contest but you end up on the 3rd place. You feel dissatisfied and depressed for you don't get what you like to achieve.

Reactance Theory

Reactance theory is based on the notion that when people don't feel comfortable and they think that they can do what they want, they experience a bad feeling. This bad feeling is known as reactance. When they feel this, they will be motivated to do what they were threatened to do, which is a sign that their freedom has not been suppressed.

Goal-setting Theory

The goal-setting theory implies that people set goals for themselves. But you see setting goals for yourself is more effective unlike when other people set your goals. This is because people are more encouraged to fulfill the goals that they have set for themselves for it's based on what they believe.

Acquired Needs Theory

The theory of acquired needs explains that needs may vary depending on people's experiences and these needs may change as time goes by. This theory is also referred to as the Three-Need Theory or Learned Need Theory. Generally, the needs of the people are classified into three. These are the achievement, affiliation and power.

On the whole, understanding all the theories of motivation can be a great help to you especially when it comes to harnessing your leadership skills. Motivation is a very important ingredient in the success of every individual. Without it, your life will not be bright.

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Lessons I Learnt From T. Harv Eker, "Secrets Of The Millionaire Mind"

This week I was in a seminar and was listening to this great guru from USA, T. Harv Eker the author of the best selling books, “Secrets of the Millionaire Mind”.

He is an awesome speaker and trainer with high energy. T Harv Eker came from a childhood where money was scarce throughout his childhood. He was a self made millionaire by the age of 30. Now he is a multi, multi, multi, multi, multi, multi, multi millionaire.

I learned a lot more about money from his seminar that day. I just wanted to share what I have learned so that we can share our thought and belief so that we can teach our children to manage their money habits.

What I learned that day was why we must understand our roots of money which is very important. Our parents teach us that money is the root of all evil. I am sure most of us have heard this saying before. Does it mean that all of us have the same parents?

As a parent, we must teach our children that our roots are very important. How does this affect our money habits?

If a red apple tree does not have strong roots and we never fertilize it well, what kind of fruits does it bear? The fruits could be small and sour.

This is the same thing if we do not educate good money habits to our children from young. What money habits do you think they have when they grow up? Our children are going to have bad money habits if do not educate them young.

Do you agree that we must focus to build a good money habits roots to our children NOW? But as parents we tend to forget that the roots are very important.

Like what T. Harv Eker taught in his seminar, we tend to focus on the fruits but we forget our roots. We must set the root right then the trunk which then bear us good and abundance fruits.

So parents let us remember that we must nurture the money habit tree in our children now. We want to have good nurturing fruits to come to the world.

Let’s plant a good seed in them. So what we say to them is very important. In my next articles, I am going to share with you the words we say to our children that affect their thoughts. How this thought is going to create result of their money habits?

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