To Become A Millionaire, Avoid These 9 Costly Mistakes

It is a good thing to desire to become a millionaire but then it means you must run away from some habits. Here are 9 of such habits, and what to do instead.

1. Spending Income & Earnings Without A Budget

When you do not deliberately list and allocate resources to areas of need, it becomes difficult to set spending limits.

The habit scatters earnings, no matter how huge

2. Buying things on impulse

Anyone who aspires to conserve resources and grow to become a millionaire must eliminate impulse buying.

Having drawn a budget, ensure to stick with the budget. It enables you to compound resources thereby matching steadily towards your goal.

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3. Trying To Keep Up With Friends And All Trends

No matter how attractive a trend is, never let it get in the way of an already thought-out plan. Remember that you may not be headed in the same direction with those catching cruise with trends.

Keep your focus until you achieve your goals.

4. Ignoring Savings

Saving is simply keeping aside a fraction of what you have earned as a build-up to accomplishing other life goals on the short, medium or long terms.

Saving is a hedge for any of the eventualities that come with life and can be targeted to key projects and programmes, including retirement, home ownership, children’s education and more.

5. Not investing

The character of investment is that it helps you to be able to acquire more assets and become more financially stable.

Most investments can easily be converted to liquid cash and deployed to other investible projects and meet a need.

You do not have to have billions stashed away somewhere to begin; start at your level.

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6. Borrowing

Borrowing comes with a lot of costs, and should be of least consideration for anyone aiming to become a millionaire.

Plan with what you have, and shift forward, what may not be affordable for the moment.

Debt comes with a lot of costs: saps energy, erodes personal confidence and eats into earnings all of which affect that march to the millionaire class.

7. Gambling

Gambling could be another word for greed, seeking to reap where one did not sow. Most gamblers end up frittering scarce resources, hoping endlessly for the desired  jackpot. Seek instead to put that modest amount in a genuine and transparent scheme and diligently work it to prosperity.

8. Be diligent

If you are involved in anything worthwhile, be diligent about it. You can’t be lazy and expect to become a millionaire.

Diligence means consistency from which also comes expertise.

Both are paid for in premium currencies and at higher values.

9. Lastly, commit to prayer asking God for wisdom to direct your parts.

One of the price tags to becoming a millionaire is forming a league with God, the giver of wisdom, the giver of wealth.

In fact, it is the wealth that comes from God that does not add sorrow and does not disappear from the window overnight.

Most successful people in scripture have a common denominator: they worked in league with God.

Pause all else you are doing right now and read Proverbs 3:5-6: Trust in the Lord with all your heart.

Lean not on your own understanding.

In all your ways acknowledge Him and He shall direct your path …