Goal setting in the area of finances is the first secret to becoming rich. Setting goals means making decisions.
Decide that it is permissible for you and that you ARE going to become wealthy. Write it down in contract form and review it on a daily basis.
Another secret to financial goal setting is making a commitment to educate yourself about becoming wealthy.
Begin learning the secrets of the richest people in the world. It has been a common belief that the wealthy earn their money in a dishonest way, but if you study the character and lives of the majority, you'll learn just the opposite and what the true meaning of success is.
Avoid get-rich-quick-schemes. Some endeavors do take off very quickly once they are launched, but don't kid yourself, a lot of time and thought took place first. As Hansen and Allen wrote in "The One Minute Millionaire", first we must "be" - that means we develop the mindset of a millionaire and discover our driving purpose and passion; then we must "do"- "do what you love, add enormous value, and leverage."
Finally, you will "have" - you will begin accumulating the wealth you've dreamed of.
Financial Goal Setting According to the Experts
So when exploring how to become rich, explore the four areas Hansen and Allen talk about. Here are the areas in which people create wealth and a simple explanation about those ventures:
Financial Goal Setting - YOUR MONEY
1. Simply saving and investing
Simple example: Find an account or investment opportunity where you can receive 12.17% interest.
Place $1000 in this account then add an additional $1,000 each year. At the end of 40 years you'll have accumulated $100,000,000 (one million dollars).
If you can save at least $83 a month and never touch it for the next 40 years, you will have a nice chunk of change at the end. In order to save $83 a month, you need to save a little under $3 a day. If you're in your twenties, $83 a month may be all you can afford. But imagine what you may be able to save by the time you're in your 40's?
So even if you work in a fast food restaurant for the next 5 years and gradually work your way up to management, your ability to save will increase. So the possibility of retiring with a million dollars in your savings account isn't really so far out of reach, even if you're not a professional who earns high wages.
If you set your goal and live by the rule to never touch it, you WILL have a nice savings upon retirement. And really, who can't put back $3 a day that is working full-time?
2. Becoming involved in Business (marketing products, ideas or providing services) Research where people are making money in business. Explore what types of products, ideas or services are in the highest demand.
3. Using Real Estate: So many people have made millions in real estate and there are a lot of good books and programs out there teaching the ins and outs of property investment. I once knew a Realtor who moved every six months. I asked him why and he replied that it was part of his plan to accumulate wealth. He always bought a house for a really good price, making improvements to it so that it sold for quite a bit more than he paid for it.
Well, I'm sure there are betters ways but still, the man WAS doing something to increase his income through buying and selling real estate. In addition to the many books available today, websites like http://www.creonline.com/ are a great introduction to the field of real estate without spending a dime.
4. Internet: Infopreneurs are having amazing success online
Lots of people are making money via the internet today. Visit Solo Build It!'s site and learn about ebusiness and website building.
Ask yourself which of these areas appeals to you and begin to research them. Learn everything you can, believing that you are teachable, and then commit yourself to a goal. The only sure way to miss reaching your goal is to quit pursuing it.
Financial Goal Setting Starts Today
Sit down and begin to write My ideal situation five years from now. Let yourself dream big. Imagine your home, your career, your family, your lifestyle and even include hobbies or things you want to learn.
Even though you may have no idea of where to start, just pretend for a moment that the information is within you and start a list of simple steps you can take toward making these situation take place. You are not setting anything in stone, just brainstorming a simple plan which you can edit at any time. Work on your plan each day, adding or making changes as you see fit.
Begin to Imagine how it could unfold and become reality. Expect information to come to you to help you clarify your plan. Use your imagination on a daily basis. Find out what steps other people took to make their dream scenario come true. Believe it is possible. Expect it to happen and expect the knowledge you need to come to you. Give thanks for every ounce of progress you see yourself making.
Some people really do decide to become rich. Some people really discover the true meaning of success which includes wealth but goes way beyond.
So what are you going to do?
Settle for what you have, or dare to follow your dreams for more?
We hope that you will begin to educate yourself in the art of how to become rich!