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5 Common Mistakes That Prevent People From Becoming Millionaires

5 Common Mistakes That Prevent People From Becoming Millionaires

It is wishful thinking when you want something and you are not willing to make any sacrifice for it. Wealth is wanted by many people but they keep taking the fruitless route in getting it. it is good to study what defines the success of the wealthy before you setting out on your journey to become a millionaire. It will not simply help you to become wealthy but also to stay wealthy. Try and avoid these popular mistakes that could hurt your chances of becoming a millionaire.

They are not trying

“As long as you’re going to be thinking anyway, think big.” –Donald Trump

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It takes effort and lots of hard work to become successful. Most time people work hard not to become wealthy but simply to pay the bills. It all depends on the mindset we use to approach wealth because this can have a direct effect on how much money you make. Rather than focus on just working, you need to start trying to become a millionaire. Make sure it is a goal rather than just working to “get by.”

They don’t believe

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffet

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A lot of people adore the wealthy but they can’t ‘see’ themselves becoming one. They think that the rich must have done something crooked and evil to become wealthy. They would rather envy the wealthy and blame this or that for their inability to become wealthy. All millionaires see money as something they are entitled to have. You have to develop your positive thinking to make sure you attain wealth. Don’t make that mistake that wealth belongs to a certain few and you cannot be among that few.

They don’t trust in their guts

“Screw it, Let’s do it!” –Richard Branson

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If you want to be wealthy you have to stop listening to what other people say about you. You don’t need to look down at yourself or what you can do with the resources you have at your disposal. Being a millionaire is an energetic journey that can only be taken by you. And you have to let your instincts direct you at certain times on what smart decisions you have to take.

They procrastinate

“While the masses are waiting to pick the right [lotto] numbers and praying for prosperity, the great ones are solving problems.” – Steve Siebold

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A lot of people tend to wait when they need to be taking action. A lot of people wait for the right time, the right amount of money or a better opportunity before they take action. You can’t afford to wait for success, you have to go out to meet it. No one is going to fix your problems except you. Procrastination is a thief of time and all that waiting will stop you from achieving what you really want and becoming the person you can be. You can’t leave your pursuit of wealth to chance or allow external factors to determine what you can become.

They have a terrible relationship with money

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki

To be successful you have to treat money the same way a jealous lover treats his/her partner. You have to improve your relationship with money to become a millionaire. Having a healthy relationship with money means you are responsible, respectful and do honorable things with money. Learn to see money as a tool to becoming what you want to be. Once you start seeing money as a liberator rather than a necessary evil, you will be able to purchase a financial peace of mind and attract more opportunities.

Featured photo credit: https://unsplash.com/ via unsplash.com

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Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

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Last Updated on July 17, 2019

The Science of Setting Goals (And How It Affects Your Brain)

The Science of Setting Goals (And How It Affects Your Brain)

What happens in our heads when we set goals?

Apparently a lot more than you’d think.

Goal setting isn’t quite so simple as deciding on the things you’d like to accomplish and working towards them.

According to the research of psychologists, neurologists, and other scientists, setting a goal invests ourselves into the target as if we’d already accomplished it. That is, by setting something as a goal, however small or large, however near or far in the future, a part of our brain believes that desired outcome is an essential part of who we are – setting up the conditions that drive us to work towards the goals to fulfill the brain’s self-image.

Apparently, the brain cannot distinguish between things we want and things we have. Neurologically, then, our brains treat the failure to achieve our goal the same way as it treats the loss of a valued possession. And up until the moment, the goal is achieved, we have failed to achieve it, setting up a constant tension that the brain seeks to resolve.

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Ideally, this tension is resolved by driving us towards accomplishment. In many cases, though, the brain simply responds to the loss, causing us to feel fear, anxiety, even anguish, depending on the value of the as-yet-unattained goal.

Love, Loss, Dopamine, and Our Dreams

The brains functions are carried out by a stew of chemicals called neurotransmitters. You’ve probably heard of serotonin, which plays a key role in our emotional life – most of the effective anti-depressant medications on the market are serotonin reuptake inhibitors, meaning they regulate serotonin levels in the brain leading to more stable moods.

Somewhat less well-known is another neurotransmitter, dopamine. Among other things, dopamine acts as a motivator, creating a sensation of pleasure when the brain is stimulated by achievement. Dopamine is also involved in maintaining attention – some forms of ADHD are linked to irregular responses to dopamine.[1]

So dopamine plays a key role in keeping us focused on our goals and motivating us to attain them, rewarding our attention and achievement by elevating our mood. That is, we feel good when we work towards our goals.

Dopamine is related to wanting – to desire. The attainment of the object of our desire releases dopamine into our brains and we feel good. Conversely, the frustration of our desires starves us of dopamine, causing anxiety and fear.

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One of the greatest desires is romantic love – the long-lasting, “till death do us part” kind. It’s no surprise, then, that romantic love is sustained, at least in part, through the constant flow of dopamine released in the presence – real or imagined – of our true love. Loss of romantic love cuts off that supply of dopamine, which is why it feels like you’re dying – your brain responds by triggering all sorts of anxiety-related responses.

Herein lies obsession, as we go to ever-increasing lengths in search of that dopamine reward. Stalking specialists warn against any kind of contact with a stalker, positive or negative, because any response at all triggers that reward mechanism. If you let the phone ring 50 times and finally pick up on the 51st ring to tell your stalker off, your stalker gets his or her reward, and learns that all s/he has to do is wait for the phone to ring 51 times.

Romantic love isn’t the only kind of desire that can create this kind of dopamine addiction, though – as Captain Ahab (from Moby Dick) knew well, any suitably important goal can become an obsession once the mind has established ownership.

The Neurology of Ownership

Ownership turns out to be about a lot more than just legal rights. When we own something, we invest a part of ourselves into it – it becomes an extension of ourselves.

In a famous experiment at Cornell University, researchers gave students school logo coffee mugs, and then offered to trade them chocolate bars for the mugs. Very few were willing to make the trade, no matter how much they professed to like chocolate. Big deal, right? Maybe they just really liked those mugs![2]

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But when they reversed the experiment, handing out chocolate and then offering to trade mugs for the candy, they found that now, few students were all that interested in the mugs. Apparently the key thing about the mugs or the chocolate wasn’t whether students valued whatever they had in their possession, but simply that they had it in their possession.

This phenomenon is called the “endowment effect”. In a nutshell, the endowment effect occurs when we take ownership of an object (or idea, or person); in becoming “ours” it becomes integrated with our sense of identity, making us reluctant to part with it (losing it is seen as a loss, which triggers that dopamine shut-off I discussed above).

Interestingly, researchers have found that the endowment effect doesn’t require actual ownership or even possession to come into play. In fact, it’s enough to have a reasonable expectation of future possession for us to start thinking of something as a part of us – as jilted lovers, gambling losers, and 7-year olds denied a toy at the store have all experienced.

The Upshot for Goal-Setters

So what does all this mean for would-be achievers?

On one hand, it’s a warning against setting unreasonable goals. The bigger the potential for positive growth a goal has, the more anxiety and stress your brain is going to create around it’s non-achievement.

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It also suggests that the common wisdom to limit your goals to a small number of reasonable, attainable objectives is good advice. The more goals you have, the more ends your brain thinks it “owns” and therefore the more grief and fear the absence of those ends is going to cause you.

On a more positive note, the fact that the brain rewards our attentiveness by releasing dopamine means that our brain is working with us to direct us to achievement. Paying attention to your goals feels good, encouraging us to spend more time doing it. This may be why outcome visualization — a favorite technique of self-help gurus involving imagining yourself having completed your objectives — has such a poor track record in clinical studies. It effectively tricks our brain into rewarding us for achieving our goals even though we haven’t done it yet!

But ultimately, our brain wants us to achieve our goals, so that it’s a sense of who we are that can be fulfilled. And that’s pretty good news!

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Featured photo credit: Alexa Williams via unsplash.com

Reference

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