Become a Millionaire: The Anti Get Rich Quick Method
Everyone is interested in the get rich quick scheme that would take us
from financial instability to financial security over night.
Unfortunately, aside from winning the lottery, this type of get
rich quick windfall just doesn't happen very often. However,
enlightened millionaire Robert G. Allen once offered this
insight regarding wealth accumulation:
"If you're like the average person, earning at least $25,000 a
year, then, in your lifetime over a million dollars will flow
through your fingers. That's a lot of money. In other words,
you're a lifetime millionaire.
Now, for the bad news. If you're like most people, you'll spend
it all, and, after a lifetime of earning, will end up with
almost nothing."
Robert G
Allen , of One Minute Millionaire fame, knows a thing or two
about becoming a millionaire. If you read between the lines this
insightful comment lets us in on a little secret he has been
spreading through his wealth creation books. This secret
undermines the get rich quick philosophies that have been
popularized by people that are not exactly on the up and up.
Robert Allen's secret is that becoming a millionaire takes time.
Accumulating true wealth is more about forming key money habits
or skills that are adhered to religiously for the rest of your
life.
Understanding that overnight get rich quick schemes just don't
pan out most of the time is only half the battle to becoming a
millionaire. Now that you are headed down the right path you
need to learn some fundamental cash flow principles that will
help you control your money and save for the future.
The key to controlling your cash flow is ensuring that you
always spend less money than you make. This sounds simple enough
but can be difficult to achieve when you have a debt problem or
are behind on your mortgage payments. Creating extra streams of
income, thereby increasing your overall cash flow is one way to
improve your situation and enable you to put away some savings
each month. To be honest probably the hardest part of becoming a
millionaire is getting to the point where you have a positive
monthly cash flow because you have become disciplined enough to
spend less than you make.
Creating a positive cash flow is also dependant on being frugal. If
you constantly waste your money on goods and services that don't
prove to be of much value and are not really needed then you
will never have any money left over at the end of the month to
put into savings. In America a good portion of our money is
spent on convenience. For instance, we pay extra money to get a
quick hot meal from a fast food restaurant rather than cooking
something up at home. Cutting back on the money spent eating out
is just one common way to save some of that hard earned money.
As a budding millionaire, overtime you will learn to cut out
unnecessary expenses and create a strong monthly cash flow. This
cash flow can first be used to pay off your debt problem should
you have one. If you don't have a debt problem then you can
start saving your money right away as well as investing in
opportunities that will present even greater returns on your
cash flow.
Adam Smith is an internet marketer. To learn how
to become a
millionaire and eliminate your debt problem please visit the
OneMinuteMillionaire.com site.