Financial Planning, Investments, My Latest News, Trading & Wealth Management, Wealth & Well-Being, Women EmpowermentYou can find original article at Business Woman Media website
Don’t hold back: women should take control of their investments
One of the myths about why there are not many women engaged in trading and investing is because they are scared of taking action in the ‘male world of finance’. Women are often scared of not knowing what to do… how to start. As a woman trader who started from zero and becoming a millionaire, I know that the best way to overcome that fear – even on a limited budget – is to dip your toes into the market.
The old saying that it takes money to make money is true. And those living paycheck to paycheck may feel there often isn’t enough money left over to put towards investing.But if you don’t put money away for later years, you will face a very difficult future. One day, you won’t be able to work and you may not have enough money to live on… So what can you donow to escape such a catastrophic situation in future?
To reach any goal, you need look for opportunities, not for excuses.
Financial freedom comes to the persons who take control over their finances – It’s a golden rule of the universe. My advice is not new, but it works. Follow 3 easy steps to change your life and take control over your financial future:
One of the best thing you can do for yourself is to develop a habit of saving part of your salary or other income. Even a small amount regularly saved adds up over time. Savings today are guarantees and possibilities of tomorrow. Beginning today first of all reserve 10% of your income to save. You can save even more — or if 10% seems to be too big an amount for you, start with 2% or 4% and increase it every month. Make every dollar count! How often do you go to fast food restaurant, how often do you buy snacks? What if you cut out even small part of those expenses each month, netting you an extra $100 per month? At the end of the year you will have $1200. Yes, it does not seem like much to get started, but anything is better than nothing, and it can make a big difference in 20 years.
Start a special account to save 10% of your income and pay it with the same respect as you do your mortgage. Be disciplined – it’s your key to success. And never touch your savings, except for investing.
While you are letting your savings mount up to the level where you can use them, educate yourself about investment. There are many free courses and a lot of information around that can teach you the basics of the market, the different kinds of shares, bonds and other opportunities. Beware of those who recommend anything they personally get a fee for pushing. Learn for yourself what the risks and rewards are from different types of investing.
3. Get started
Start investing as soon as possible, as soon as you accumulate enough funds to join the investment program you like – do it! If you are just saving, not investing, you will never become wealthy, because inflation will be eating your money day by day and year by year. The magic formula is saving + investing = financial freedom.
To reach a goal you need to make a first step – do it now!
Hi my dear readers! Glad to share my recent video, where I give 5 easy tips to find good and trusted broker. Hope my advices will help you to make right choice. Being a woman trader, who started from zero and made millions in trading I understand how important is to find good broker. It’s one of the main keys to successfull and profitable trading.So, let’s start:
- Regulation. In fact all brokers are regulated in some way, but most important is if this regulation can really protect you or It’s so called ‘symbolic regulation’. Always pay your attention to thecountry of regulation, It’s laws ans how financial regulator works there.
- Financial guarentees. Good financial regulation doesn’t mean you will get your money back in case of broker bankruptcy. Of course, we all are trying to find the best broker, the most safety one, but who knows what may happen. Do you remember Lehman Brothers or 300 years old Barings bank? To have financial guarantees of your funds safety choose broker that is:
– a bank;
– a broker, where clients funds are maintained by bank separately from broker funds;
– a broker, that has essential amount in It’s equity capital.
3. Commissions and spreads. You know broker makes money through commissions and spreads. Of course, we all are dreaming about lowest possible rates, but don;t be greedy. Cheap commissions may cost you all your money. Unrealistic low rates are offerd by not the best brokers or even worse…..
4. Trading platform. If you are new in trading, look for the broker that offers easy for understanding and easy for use trading platform, that has variety of fundamental and technical analysis tools.
5. Leverage. Don’t try to find a broker, that offers very high leverage or at least don’t use high leverage. Remember, trading is like driving a car – start with low speed or you will get crashed.
In conclusion. I advice you to use this tips to make right choice and don’t trust online ratings. Here is why –
- Very often (doesn’t mean always!) brokers pay for website owners to be featured on best brokers ratings;
- Website may be affiliate partner of number of brokers and creates rating depending on how much CPA he gets from broker per each opened account.
Thank you for watching/reading! If you find this information usefull, share It with your friends. Also, you can leave me message or comments what topics on trading, investing or finance you would like to be covered on my next video.
Enjoy your trading!
One of the myths about why there are not many women engaged in trading and investing is because they are scared of taking action in “men world of finance”. In true they are scared of not knowing what to do, how to start. As a woman trader started from zero and becoming a millionaire, I know that fear is not what is holding women back from investing. The most important reason is their limited budget.
The old saying that it takes money to make money is true, and for those living paycheck to paycheck, there often isn’t enough money left over to put towards investing. The fact is if you don’t put money away for later years, you will face a very difficult future. Just imagine, if one day, you won’t be able to work and you will not have money to live on… So what can you do to escape such catastrophic situation in future?
To reach any goal, you need look for opportunities, not for excuses. Financial freedom comes to the persons who take control over their finances — It’s a golden rule of Universe. My advice is not new, but it works. Follow 3 easy steps to change your life and take control over your financial future:
1. One of the best thing you can do for yourself is to develop a habit of saving part of your salary or other income. Savings today are guarantees and possibilities of tomorrow. Beginning today first of all take 10% of your income to save. You can save even more or if 10% seems to be a big amount for you, start with 2% or 4% and increase it every month. Make every dollar count! How often do you go to fast food restaurant, how often do you buy snacks? What if you cut out even small part of those expenses each month, netting you an extra $100 per month? At the end of the year you will have $1200. Yes, it does not seem like much to get started, but anything is better than nothing, and it can make a big difference in 20 years.
2. Start a special account to save 10% of your income and pay it with the same respect as you do your mortgage. Be disciplined — its your key to success. And never touch your savings, except of investing.
3. Start investing as soon as possible, as soon as you will accumulate enough funds to join the investment program you like — do it! If you are just saving, not investing, you will never become wealthy, because inflation will be eating your money day by day and year by year. The magic formula is saving + investing = financial freedom.
To reach a goal you need to make a first step — do it now!
Clad to share my new interview at 1000+ Stories, specially focused to empower women traders.
Reason for starting? When I first decide to start trading and investing, I could not find the guidanc or understanding of how it all works. And it was really difficult to find a good trader to manage my assets, a trader who is good with money and down to earth, focused on me, on my goals and not selling me general “working for all and suitable for all” investment decisions. It was the motivation to start Lady F Wealth Management – the place and the company I was looking for few years ago. I have a special mission to engage women in the investing world and to make our services transparent and global. Everyone, regardless of country of origin can access our services online and get customized investment advice or mentorship.
How do you define success? For me success is to fulfil myself, to do a job that makes me happy and inspires new projects. It’s a feeling that is burning inside of me every morning when I wake up. It’s being happy with what I do and having time to enjoy life with my family and the people I love. Our main goal is to make difference in the world by giving people access to professional services in investing and trading. We want to make investing easy and easy to understand for ordinary people and to empower and engage women in investing and trading.
Biggest success: My biggest success is building a strong family and keeping balance between my business and personal life. I was nominated for the Women in Finance Awards last year and It was a great honour for me to be among the 30 most successful women in the Finance field. I achieved this thanks to my family and their support.
What is your top challenge and how you have addressed it? I think challenge is good as it makes us smarter. It motivates me to make better decisions and to find new opportunities. It always opens new doors. Many people want to make investments and build their wealth, but very often they do not know how to do that and they are afraid of being scamed or making the wrong choice. I think this gives us a chance to build a service and customer experience that changes the way people think about investments and the way people invest. Lady F Wealth Management is the evolution in trading, investments and wealth management.
Who is your most important role model? My role models are women who change the world, who make the biggest contributions to making a difference, strong women who have overcome fears and obstacles – unstoppable women.
Here are strategies to silence your overly critical internal monologue and help you reach your goals.
To reach your goals, you have to take risks, develop constructive routines and make time to listen, learn and reflect. The prospect of making any of the above adjustments to your life is empowering — that is, until your mind starts to wander.
Any time you’ve thought about making a change or pursuing a passion, you’ve probably dwelled more on your present state than your potential. Or once you got started, minor setbacks or flubs have felt like deal-breaking failures. You’ve beaten yourself up, berated yourself or felt overwhelmed or alone.
Constant reminders of other people’s triumphs only make you criticize yourself more. Whether you’re scrolling through your Instagram feed or reading a story on Entrepreneur, your kneejerk reaction to someone else’s success might be a combination of envy and self-loathing. A cascade of negative thoughts can produce negative outcomes: Inaction. Retreat. Bad habits. By thinking negatively about what you will accomplish, you formulate a self-fulfilling prophecy.
You’re not inadequate, and you’re not doomed to fail. So next time you’re thinking some variation of one of those things, try these 15 strategies to propel yourself out of the funk you’re in and proceed with the mission you’ve set out to achieve.
1. What you tell yourself: “I don’t know when or how I’m going to do this.” What you should think or do instead: Set a schedule.
Set aside time to work toward your goal for a given period each day or week. Then stick to your plan. Create a calendar slot for it, and treat it as non-optional, like a job. Eventually, you’ll form a new habit.
“Whatever it is, if you want to do it, you need to prioritize it,” says Danielle Krysa, author of Your Inner Critic Is a Big Jerk. “Just like you schedule the rest of your life — work, the gym, pick-up/drop-off of kids, whatever — you have to schedule this in.”
2. What you tell yourself: “I’m not in the right environment.” What you should think or do instead: Carve out a corner.
That doubting, destructive voice in your head will find any excuse to impede your progress toward your goal. It’s easy to blame your environment, but there are ways to make your circumstances work for you — or create new ones.
“Carve out a little corner of one room and set it up so all your essential supplies are within reach,” Krysa writes in her book. “It helps if you surround yourself with some things that inspire you into action.”
Once you establish a dedicated place, it will be easier to tune out other aspects of your life while you’re working toward your goal. When you’re sitting in your corner, surrounded by inspirational objects, or at your new table in your community space, you’ll have physically and mentally removed yourself from the place where you also pay bills, eat dinner or help your kids with homework.
3. What you tell yourself: “I’m not in the mood.” What you should think or do instead: “Procrastinate with purpose.”
That’s what Krysa, who is also an artist, does when she doesn’t feel like tackling a big task.
“Maybe that means I go into the studio and I use that hour to tidy everything up. Or maybe I go to the art supply store and stock up on everything I’m low on,” Krysa says. “But the interesting thing is, when I do that, I end up getting creatively jazzed up again.”
Fill your time with productive tasks that will indirectly lead you toward your goal, she suggests.
4. What you tell yourself: “I don’t know what to do next. I feel stuck.” What you should think or do instead: Relax and take your time.
Working toward a goal often involves decision-making, tackling difficult tasks and making tough sacrifices. Often, when faced with these dilemmas, people feel pressure to resolve them quickly, but they aren’t always sure about the best course of action.
First, try to relax and take it step by step.
“When you overthink a decision, your instincts aren’t involved at all,” Heather Havrilesky, author and advice columnist who pens New York magazine’s Ask Polly, told Entrepreneur.com. “So the idea is to get into a relaxed space and then feel through your options and your ideas about what you want or what you might enjoy, without getting too attached to what you learn about yourself and your true desires on any given day.”
She advises writing down what you like about a potential decision vs. what you dread about it. She also suggests forgiving yourself for not having taken the next step yet. Chances are, you’ll be more satisfied with the end result if you give yourself time.
“You don’t end up feeling like your decisions are arbitrary when you make them in a calm, relaxed state of mind,” Havrilesky says.
5. What you tell yourself: “I will never achieve my goal.” What you should think or do instead: Tell yourself the opposite.
So you’ve had a setback in your quest to achieve your goal. You know you shouldn’t insult yourself, but you can’t stop. The criticisms become more and more negative, maybe until you convince yourself of something terribly untrue, such as “you’re worthless,” or “you’ll never achieve your goal.”
Your failure to execute on your goals up to this point is not a reflection of your character. The fact that you’ve formed a goal in the first place indicates that you have an idea of how to better yourself or add something to the world. Now you have to do it, and the biggest obstacle in your way might be yourself and that nagging voice telling you there’s something wrong with you or that you can’t.
“Every time you have one of those negative thoughts, write it down. Then write the positive opposite, and stick it somewhere where you can see it,” Krysa says. “Suddenly you end up surrounded by positive things instead of negative things. It’s very Kumbaya, but it really does work.”
6. What you tell yourself: “I’m a total mess.” What you should think or do instead: Organize the little details of your life to prime yourself for your big goal.
It’s easy to get bogged down by the small things, such as how you look, how clogged your inbox is or how many errands you’ve been putting off. Disorganization in minor aspects of your personal life could deter you from thinking you’re ready to take on something big.
Prepare as much as you can. That way, you can focus on bigger hurdles.
7. What you tell yourself: “My goal is stupid.” What you should think or do instead: Exude confidence bordering on arrogance.
If you’re preoccupied with the idea that no one else will be interested in what you’re trying to do, you may start trying to convince yourself that you should quit pursuing your goal based on what you’re worried others will think.
Havrilesky says she’s made the mistake of beating herself up internally to the point where she couldn’t speak concisely or coherently about her ideas for new projects. She’s learned from her mistakes and now understands that confidence is everything.
“Take up a little space and own who you are,” she says. “Don’t worry about what they’re thinking.”
She also encourages good posture. Havrilesky says that she has found “standing like Wonder Woman” helpful in reinforcing positive self-perception. Despite the fact that science has not proven power posing effective, some people do find that it boosts their confidence.
8. What you tell yourself: “That other person already achieved my goal and made it look so easy. I’ll never be as good as them.” What you should think or do instead: Approach the person and ask for advice.
It can be toxic to think about other people’s success. You may put them on a pedestal and think they’re superhuman or free of doubt. Ultimately, you may become wildly jealous of them to the point that you devalue yourself and your potential.
When Krysa found that a writer whose work she followed made her feel this way, she bravely did what so many people never consider: She asked that woman to meet.
“I decided to reach out and go, ‘Hey! How do you do what you do? And also I’m super jealous of you,’” Krysa says. “I wanted to say it out loud, and it turns into admiration when you do that.”
They met for coffee, and Krysa told her, “I think you’re perfect.”
The woman burst into laughter. “‘Are you kidding? I think you’re perfect,” she replied.
This led the two of them to compare notes.
Krysa walked away with some valuable insight into how this seemingly “perfect” woman achieved her success, a realization that this person was actually human, a self-esteem boost and a new friend to boot.
You shouldn’t feel shy about reaching out to someone you feel inferior to. The other person probably feels similar feelings, and you have plenty to teach her, too.
9. What you tell yourself: “Even if I achieve my goal, I’m never going to impress the people I want to impress.” What you should think or do instead: I’m here to connect with others.
Reaching a goal, especially a professional one, is often about more than your ability to excel in your line of work. It also involves a social element, such as networking. This leaves many people convinced that they are going to make a bad impression. Someone will find them too shy, too bossy, too something and not enough something else, and that deficiency will cloud all of their achievements, so they think.
Havrilesky has a solution: “You don’t focus on your worst self, and you also don’t focus on your fantasy self,” she says. “Instead, you think about the people who love you, find you incredibly charming and remember how you act around those people.”
Approach meetings and social events with an interest in others rather than a preoccupation with yourself and your own shortcomings.
“They’re just regular people who’ve learned how to play certain roles,” Havrilesky says. “Remember that you’re not there to impress anyone, even though that’s what your bad brain tells you. You’re there to connect.”
10. What you tell yourself: “It doesn’t seem like I’m making any progress toward my goal.” What you should think or do instead: Find someone to hold you accountable.
When you take on a new challenge, it can be discouraging when your life doesn’t magically change overnight. You’re working so hard, yet you don’t feel like you’re getting anywhere. You begin to wonder if all of your effort is worth it.
To ensure you don’t give up on your goal, establish a support system — one person or a group who will hold you accountable. It could be a family member, it could be Facebook friends or it could be a life coach. You’ll feel less alone in your journey, you’ll have someone to report to who will make sure you follow through and best of all, you’ll have someone who will notice and remind you of how far you’ve come.
“You’ll know that you have someone or a group of someones that are holding you every day in your highest self, to the standard of what that looks like, how that person behaves, how that person treats themselves,” says Jessica King, a life coach and senior instructor at Peloton, who works with clients to meet their fitness goals. “Once the awareness around habits and patterns and self-talk is a conversation that’s out in the open, it’s kind of wild how quickly transformation can happen.”
11. What you tell yourself: “That didn’t work.” What you should think or do instead: Keep your goal, but find a new means of achieving it.
It’s one thing to be oblivious of the subtle progress you’re making, it’s another thing to know that what you’re doing is ineffective. But rather than give up in those instances, try a different approach.
Say you’re trying to learn a new skill. For example, you might be trying to learn a new language solely by listening to audio guides during your commute, but you’re really not a strong auditory learner. So, you may need to rethink your approach. Perhaps, you learn better with an app or with gamification.
Similarly, King acknowledges that cycling isn’t the right form of exercise for everyone trying to achieve a fitness goal. Some prefer yoga, kickboxing or dancing.
“Any sweat is a good sweat,” King says. “What’s interesting? What’s fun?”
12. What you tell yourself: “This goal isn’t enough. I should be doing more.” What you should think or do instead: Focus.
Don’t overload yourself with to-dos. If you’re making a little progress, don’t devalue what you’ve already accomplished by trying to take on a new task or goal. It’s likely that you still have work to do on the first one.
“I know something that always came up with us at Roo Outdoor was we have our product, we have our marketing, we have our customers. What’s next?” says founder and CEO Mike Kafka. “I always felt like I had to do something more, do something else.”
Instead, Kafka recognizes that he should just focus on one thing at a time. The next thing “will come organically when you’re not focusing as much energy on it,” he says.
13. What you tell yourself: “I’m so overwhelmed.” What you should think or do instead: Journal.
Goal-setting requires focus. You have to stay organized about what you need to do to achieve your goal, but you can’t shut the world out, nor can you always resist the temptation to get ahead of yourself. When there are a lot of thoughts swirling around in your head (including negative ones), it can help to write some of them down.
That’s what Kafka does every morning. He writes just one or two things most days, whether it’s something he wants to work toward or something that’s been on his mind. There’s no structure or plan for what he writes down — he just records his thoughts.
“It’s helped a lot with clearing my thoughts, refocusing on things that are in the present, things that I want in the future,” Kafka says. “It’s a process of getting out some of the thoughts that I may have had, so I’m not thinking of, ‘What’s the next thing, next thing, next thing?’”
Writing things down also gives him the chance to reflect. He says he goes back and reads his notes bi-monthly to resurface ideas, do follow ups and remember things that were done well.
14. What you tell yourself: “Working toward this goal is taking over my life.” What you should think or do instead: Take care of yourself.
A lot of people who are working hard toward a particular goal, be it a college degree or a company launch, let their wellness go by the wayside. They romanticize all-nighters and ramen noodles and think that the more they’re sacrificing for their goal, the more likely they are to reach it.
While some people succeed despite neglecting their own health, it is not sustainable for most.
“The way you treat yourself, the way you eat and the way you think are all going to contribute to the end result of whatever you’re creating,” trainer King says.
If you’re not paying attention to your nutrition, it is going to affect your ability to think clearly. Similarly, stagnation in the body correlates with stagnation in the mind — and creativity.
Don’t be afraid to invest some time to burn some energy and take care of yourself by eating right and sleeping.
15. What you tell yourself: “I’m scared to face the changes that achieving my goal will bring.” What you should think or do instead: It’s not a matter of life or death.
Think of the most intimidating thing you’ve had to face or the most dangerous situation you’ve had to get out of. Now recognize that you made it. You’re here, right now, reading this.
Now think of your goal, and think of which aspect of reaching it is so scary to you. Compare that what you’ve already overcome in your life.
Finally, know that it’s natural to fear new things. Humans are creatures of habit. But humans also have a tendency to beat themselves up. You’ll continue to do that if you don’t take the plunge toward what you’re trying to achieve.
“Sometimes we find ways to prevent ourselves from succeeding, just so we don’t have to live in a new way, among new people, because that sounds scary,” Havrilesky says. “Even if things go badly, I try to laugh about it without internalizing some larger sad message about myself. Everyone screws up here and there. No experience is a verdict.”BY LYDIA BELANGER
Fear can be crippling. Fear can be debilitating. Fear feeds resistance and stops us from achieving dreams, from challenging the status quo, from using our voices, from trying something new.
It’s doubtful that there are many businesspeople who have gone through their career without experiencing fear—loss of face, loss of market share, loss of revenue, or worse still, loss of forward momentum. Many question Can I? Who would want to listen to me? Do I have the experience to do this?
Crazy thoughts and irrational fears.
The truth is that fear, for many of us, is present every day. The question is how to turn the feeling of fear into a powerful tool. Here are five key tips to remove the fear and achieve the success that you want:
1. It all starts with YOU.
The only judgment that matters is the one you have of yourself, so decide what is it that you are going to stand for, what your testament is to the world, what difference you want to make today to influence the lives of others around you. When you have a sense of clarity and purpose for yourself and your life, when you are clear on your why, you can then begin the journey to achieve what you desire from your life, business or profession, and enjoy longevity in your success because you are living life on purpose.
2. Trust your intuition.
Understand what makes up your value system and own it. Live it. Work it. If you don’t start leading from within, taking control to acknowledge your own values and beliefs and the person that you are on the inside, you will never be capable of being the better person on the outside. This system is unique to you and it is your responsibility to take ownership. There are times when it will be challenged or when you will give in to other’s values—and you will look back and wish you had trusted your intuition. That intuition, that gut feeling? Don’t ever mistrust it. It is a key part of you, and you should learn that it is one of your best assets. Ignore at your peril.
3. Be brave.
Stepping out of your comfort zone creates a new perspective—we know this. Yet fear gets in the way and we get trapped, stuck in status quo, a place of stagnation and no growth. Be brave and take a journey to the edge. This alone will strengthen you and give a massive boost to your self-confidence and self-belief. Stepping out of your comfort zone empowers and engages, it forces you to face your fear head-on. Imagine the possibilities and use this to fuel your bravery as you discover new opportunities and unlock new pathways to success.
4. Stand in your spotlight.
Don’t be afraid to be brilliant. Have the resilience to shine and follow your dreams of business and personal success. There is nothing wrong with making your own profile, or your own brand, as strong as you possibly can. Because it is only when you are operating from that position of self-leadership that you can truly give to others.
5. Chase progress over perfection.
Most of us instinctively spend time and energy seeking the big goals and achievements—those moments that are incredibly satisfying and equally, at times, hard to come by. Focusing only on the bigger goals can lead to disappointment and frustration, and while those big picture goals are important, we often lose sight of the incremental successes and achievements along the way. Take time to acknowledge and recognize the small wins each and every day.
6. Take action.
Much of what we fear is the future. It is important to bring our overthinking mind continuously into the present, focusing on what needs to be done right now, and take action and get on with it. Action allows us to overcome fear and inertia because by taking action, by doing it anyway, by being brave and going for it, we feel back in control.
7. Embrace decision-making.
When you hold back from making decisions out of a fear of failure, it engenders that same fear in others around you. This means lackluster projects, an endemic inability to change the status quo and a potential lack of future leaders around you. A large part of being brave is to risk failing, make the tough calls, and show those around you that this is OK.
It is those people who are willing to challenge themselves, who make themselves accountable for their own success, and ultimately their own happiness, who recognize the need to reach a little bit further, a little bit higher, who end up with the biggest satisfaction. Be 5 percent braver than everyone else. Dig deep and share your unique talent, your thought leadership, your expertise. Create energy and that energy will drive change for you and those around you. It is those who take the leap, who face their fears who are able to create momentum in their success dreams.
At the end of the day, what will it cost you if you don’t at least try?
There are so many people today with their sights set on big financial goals for their future. More specifically, there are many individuals today who are looking for ways to become a millionaire. In fact, there is no end to the different types of approaches and suggestions out there that offer “theories” on becoming a millionaire. While theories are great, many aspiring millionaires need real action steps in order to find the success they have been looking for. While it isn’t always an easy road to reach this type of financial success, there are some very tangible action steps that individuals can take in order to become a millionaire.
1. Invest in yourself.
The old phrase “knowledge is power” is not one to be ignored. If you want to be a millionaire, then you need to really be able to invest in yourself and to educate yourself. How do you start and what do you educate yourself with? Start by writing down all of your hobbies and favorite things to do. From there, choose two or three that you want to dedicate yourself towards mastering within the next five to 10 years. The mastery of any one given subject is the key to making millions down the road.
Make sure you don’t just pick one hobby because you may not like it as much in the future as you do now, so you need to have a couple of safety options as well. As you start to educate yourself, you can then refine your skills based on what subjects you enjoy and what you have the most talent in. Really finding your niche and learning to master it is the key to getting started, and it is a real action step that you can actually take.
2. Learning how to budget and manage expenses.
If you have this skill early on, you can really go a long way on your road to becoming a millionaire. It isn’t a hard task to learn if you are willing to put some time into really honing your management skills. Read up on budget management or take an online course. From there, start tracking all of your spending. It doesn’t matter how much you are making, it matters that you are able to control what you are spending and what you are saving. There are so many people today, even celebrities and famous athletes that make hundreds of millions of dollars and they eventually go broke, it is because they don’t know how to budget. Learn this skill and you are setting yourself up for success.
3. Commit to learning about the business world.
You need to take the time to commit to learning about the business world and about investment opportunities. If you have a base knowledge of these key factors, you can really go far on your quest to become a millionaire. This means a real overall knowledge of real estate, mutual funds and stocks. Take the time to read up on guides likes these from Entrepreneur and ones like this one I created. While it may not be the most interesting thing in the world to learn about, it is important that you take your time to really immerse yourself in this world… think of it as your second job.
Once you have mastered this and learn how to invest conservatively and responsibility, you can have your savings work for you, while you sit back and do nothing. Passive income is really fantastic, and while it may not seem like a lot in the beginning, it can really add up over time.
If you really want to become a millionaire and want to be able to have the financial freedom you have always wanted, then you need to be willing to take action and make strong moves that will actually lead you towards the financial success you have always wanted.