Making the Decision to Become a Millionaire

The biggest step to take on your way to becoming a millionaire is to decide to be one. Once you have a goal, you have a direction for the many other decisions you will make in life, little ones as well as big ones.

Many people wander throughout life without a goal or purpose. They take each day as it comes, and go with the flow. They deal with life's joys and obstacles in whatever way feel right at the moment. Then, they come upon a moment - sometimes during a financial challenge, or a birthday which signifies retirement age - and think of the “shoulds”. I should have paid attention. I should have saved some money.

Don't do that to yourself. Decide today what path you want to walk in life. Making a decision to become richer day by day will be your first step to actually doing it.

Goal setting is not limited to financial goals, of course. Making decisions about focusing on being a good parent, or being the best person you can be, or being a good steward of the environment are also important. Whatever your decision is, once you have a plan, the small decisions become very easy

When you encounter a small decision, you can compare it with your goals, and .choose the one that best fits the life you want to live. You can have more than one goal, but too many can be confusing, especially if they conflict with each other during specific decisions. Having more than one goal will mean that you will not be able to reach either one as quickly as you would one goal. A single minded focus will help get you there quicker. Sure, there may be times you may decide that something else is more important than your goal in a particular circumstance. But each time you do that, be aware that you are delaying the achievement of your goal.

For example, if someone offers you a good deal on a sweet car, you can compare the offer with your goals. If your goal is to be mindful of the environment, you will evaluate your decision by considering the emissions rate and gas mileage of the car. If your goal is to become a millionaire, you will determine whether you need a car, or whether your current one will suit just fine. If it won't, you will check for fuel economy, and cost of repairs, and other financial factors. If both of these are your goals, you can do both.

Most financial advisers will tell you to set specific goals. "I want to have $X in my savings account by this specific date." They say that without specific goals, you won't follow through. They tell you to make a budget so you can see how much is coming in and how much you are spending. They tell you to save 10% of your earnings.

I think those ideas are great ones, and I am sure they work for a great number of people. I personally found them too restricting and difficult. Since I am becoming richer day by day, I would have to revise my budget every day. Also, my goal of saving by a specific date was limiting. If I happened to meet my goal early, and come across some additional cash, I would have been able to spend it all since I had already met my goal. Instead I saved it, and managed to reach my end goal faster.

Having a general path for your life - one that you follow each and every single day for the rest of your life - will help provide focus and direction for your life. It makes the little decisions easier. And it keeps you from wondering what happened during specific milestones of your life. You choose the life you want to live, and then you live it that way. It really is that simple.

What life goals have you set?