How to Become a Millionaire – Money Making Formula

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Money is an absolute power in modern society. All of us need it. It satisfies many needs such as income, it provides purchasing power, is an avenue to financial security and a means to a better life.

We work to earn and to invest money and to not be limited by money.

The kind of money you earn can:

-determine where you live

-affect the way you feel about yourself

-determine your future life

-determine the status you carry in the community

How much income you earn may be determined by:

-the supply and demand for certain work

-ability

-ambition

-special talent

-willingness to work hard

-education and training

WHAT ARE THE BEST WAYS TO BECOME A MILLIONAIRE?

There are countless ways to make money and many ways to become a millionaire. However, there are things that are needed to have the best chance of making it a reality. It takes a go-getter to make BIG money, someone who has the millionaire mindset. Financial Freedom can be achieved by most people who are willing to work for it and put to practice carefully planned strategies necessary to achieve it.

First, you need to navigate your own path to prosperity. You have to put your mind to it, want it and plan for it. Then you have to work smart by developing a plan that gives a sense of direction and provides a path to follow that will progressively achieve your financial goals.

You need to attain skills in wise money management so, you need to educate yourself and to learn from successful people. Do the research from the internet, read books about wealth and personal finance, real estate and entrepreneurship and, go to seminars and workshops.

MONEY MAKING FORMULA

You must strive to create two things-Cashflow and Equity.

The more money you make the faster you can reach your milestone. Increase your income, whether its through climbing the ladder at your current job, finding work elsewhere or, look to starting a business on the side. You also need to:

-live within your means

-save a portion of your money

-stay away from useless credit

-develop a written financial plan

-get professional advice

-invest that money to create assets and equity

CREATING INCOME

Start A Business-Two-thirds of the millionaires are self employed and the remainder are professionals such as doctors and accountants.

Have you ever thought of building an alternative income stream? Most people would like to start a business however, the problem is many do not have the capital to do so!The internet is your answer. It can provide a new way for individuals seeking online opportunities and extra income to become self employed with minimal investment and little risk. And, you can retain your current job and income while you develop your Home-Based, business opportunity. It will help you reach your financial goals faster and provide you the advantage to create multiple careers and multiple streams of income.

SITE BUILD IT!

The key to make money online is to know where to start. SITE BUILD IT! provides everything for building and promoting an online business. It includes domain registration help,graphic tools,keyword tools, easy-to-follow site building tools, traffic building and analysis, search engine submissions and optimization and pay per click search to e-zine publishing and carefully guide you step-by-step to create content-rich and keyword-rich pages for your website.

NETWORK MARKETING OPPORTUNITIES PROVIDE THE ABILITY TO CREATE RESIDUAL INCOME

Join a Network Marketing company with a proven marketing system and a management with integrity.Network Marketing is a business opportunity. People from all walks of life have been able to build home-based businesses that generate unlimited earning potential. Treat it like a business and you have a good chance of succeeding. You have to follow company policy, sell its products and you need people to join your business. When you recruit people into your down-line to buy and sell products you and your recruits get paid on the amount of sales made. However, when these people in your down-line recruit others who duplicate the system you begin to generate recurring income over and over again that can lead to financial success.

CREATING ASSETS

To create wealth, you need assets.Investing is all about putting money to work for you. There are many kinds of investments with varying levels of risks and returns. The most important thing is to determine where your passion lies and try to master the rules of creating wealth in that area. Knowing how much money to invest, when to invest, what to invest in and how to invest all bring the need for research and planning.

CREATING EQUITY

Equity is assets minus liabilities. Property has always been a popular route to wealth so, buying the first home is often the first move you will have to make. And, one of the primary goals of home ownership should be the building of equity in the home and using your home equity as a launching platform for buying investment property.Your equity can enable you to borrow more and is one of the easiest and most successful paths to building wealth that is available to you. The more equity you have in one or more properties, the more financial power you hold,

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Source by Andrew Papas