“There are very clear challenges that must be overcome to create wealth. You know the real causes of your lack of financial results, but will propose actions that you should take to overcome them.” – Arturo Quijano

A holiday in the tranquil Caribbean Sea, buy the car of your dreams and retire young and rich … Those are the kinds of things that make people imagine when they hear the word “millionaire”. The truth is that it is unlikely to come to experience it. Unless, of course, they are able to overcome the following challenges that stop you generate financial wealth:

1. You do not understand how money works

Money is not a complicated issue, but few people seem to understand. Sure, you can blame the educational system or your parents, but the real responsibility to learn how the money is generated, how it is invested, how it is managed and how it preserves is entirely yours.

BusinessThe millionaires understand that money is not something that is on the street, you win the lottery or created by luck. Wealth is not an accident but a constant action. Want to be a Millionaire? Then you have to master the rules of money.

Immediate Action: Start by reading books about money, including:

“Rich Dad, Poor Dad” by Robert Kiyosaki
“Future Millionaire Manual” by Arturo Quijano
“The Richest Man in Babylon” by George S. Clason

But not only read, study, learn and apply all the knowledge and do it himself. Question yourself and go beyond. Talk it out with your partner, your best friend and even your in-laws. Personal finance can be learned and to master them. Will find that generate a millionaire heritage is easier than you thought!

2. You value self-education

I understand, we are all busy. But wealth requires effort and discipline. Keep in mind that self-education is the only investment with infinite returns. You say you do not have time? Keep in mind that we all have the same 24 hours, millionaires spend at least 10% of their day to grow in entrepreneurship. 95% of those millionaires began using this habit before reaching financial success. The advice I always give is, for lack of time, a couple of hours less sleep will make a difference, at least get up an hour early and end of the month you will have 30 hours extras that you can spend on your self-education. That’s the life of an entrepreneur. We must make great sacrifices and most likely your education is one of those waivers. This affects your chances of becoming a millionaire. People with wealth not stop learning, despite the problems of business or private life.

When was the last time destine a ‘learning time’ on your agenda? It is important that you never stop learning, no matter how busy you are.

Immediate Action: Begins to devote specific time in your daily schedule to study new things; trends, investment, online business, network marketing, etc., i.e. topics related to your growth as an entrepreneur. Do not forget that the money and opportunities do not sleep and are knocking on the door of people prepared to receive them.

Invest 10% of your income and 10% of your time in your financial education. Go tutorials, take an online course, read at least 3 new books a month, taking classes, attending conferences, and so on. I occupy a rule is as follows 10% of my day and 10% of my income is not mine, it belongs to my financial education.

3. Your expenses are higher than your income

What do you do with the extra money you have left each month? I know, you probably will not spare much after paying your outstanding bills. It may be because they do not earn enough or your business does not generate even the figure of your dreams, but the truth is you’re spending too much money. You can earn thousand or $ 200,000 per month, no matter if you spend all you want, you do not get to be a millionaire.

Rich people have made a conscious decision to live on less than you earn. Instead of increasing their expenses every time they receive money, they decide to put that extra money to work in different assets such as businesses, stocks, real estate and so on.

Immediate Action: Check your numbers and your personal spending habits / consumption in recent months and think about how you spend every dollar, list and organize it between “needs, tastes and assets.” If you want to be a millionaire and living the life of your dreams your list of assets should be larger than the other two. Then create a solid budget for the future. It is better to spend a few years without giving you some treats and build your assets.

4. You are not able to delay gratification

The most terrible financial habits that humans possess is the immediate gratification. We prefer a little today and a great reward no tomorrow. If you are seriously considering this to be a millionaire, you must learn to delay rewards and grow your financial assets, before living the life of your dreams. Bad or good habits are the difference between the poor and the millionaire entrepreneurs. It is time to take a change and make the right decisions with your money. Every dollar that passes through your hand, you have the option to create an active or become a liability. It’s up to you! It all depends on what future you want to live.

Immediate Action: The budget is everything. Your financial habits define your future. Create a monthly, realistic budget. My recommendation is to divide your income into 4 quadrants, needs emergency assets and whims. The first three columns are the most important to your financial life. As we saw, if you want to be a millionaire, you can not spend more than you earn. Your obligation is to grow your assets and keep your needs, emergencies and whims in a standard balance. With this budget you will have control of your money and your money will no longer control you.

5. Scares you take

The greatest risk in life is not to take any. The financially disadvantaged in this century is the class that is afraid of change. We all know that in the previous era, a safe work enough to have a good lifestyle. But today things have changed. Every day thousands of millionaires are born entrepreneurs, but the other side of the coin shows millions of people losing their jobs, in debt and with serious financial problems. What is so contrasting situation? Misuse of logic. Poverty and wealth are the result of the logic. A person who undertakes, who is educated financially, that budgeted revenue, controlling expenses and delayed gratification by acquiring assets, has logically more likely to be a millionaire compared to a person with bad financial habits. The only way to become a millionaire is undertaking. All rely on this question How many employees millionaires know? No, they do not exist. The madness of the human being is always doing the same things and expecting different results. If not embark, you end up working three-quarters of your life to someone that if he dared to undertake.

Immediate Action: You know what your passions are. Your gifts are your differentiating factor for the world. Start today to build your business around that you are passionate about. Your ideas can change the lives of millions, do not be selfish. All successful companies and enterprises had humble beginnings, do not be afraid to undertake. You probably live a few years and pretender biting teeth, but believe me it’s worth every moment. My recommendation “works part time at your job and part time on your fortune, when profits exceed your business what you generate in your job, it was time to grow your fortune.” Do not be a pretext the typical “I have no money”, you’re lying and you’re delaying your process, in this century the new name of money is called IDEAS and thousands of those crossing daily through your mind.

6. No “you collect” active

Your job or keep your money in the bank you never make millionaire. So how can you create wealth? Start collecting assets. If possible obstinate with them.

An active, according to Robert Kiyosaki, is “any investment that generates a steady cash flow without having to work.” Millionaires are active collectors, plain and simple. In short and simple terms, assets are investments in the future will give steady gains.

Immediate Action: Make a detailed list of the assets that you own. You do not know how to build or build assets? This is the reason why 95% of people will never be achieved millionaire and discarded because the first two points of this list. If you do not know how to create an active, you’ll never be a millionaire.

If your list of assets is very low or nonexistent … immediate action is, invest in your financial education and learn all about the assets you passionate. When knowledge is on your side, your decisions are correct. I assure you that with the acquired knowledge, know what assets you should invest. Apply knowledge and your adventure begins collecting assets. Finally, a detailed design to acquire more assets and grow your investment plan.

It is impossible to be a millionaire. In fact, it can be relatively simple when you dedicate time and possess the knowledge to do so. However, it requires courage overcoming your personal obstacles and turn them into positive financial habits. But nothing in life is impossible. Do not forget to get your first million dollars should know how money works, assess your education, spend less than you earn, delay gratification, dare to take and collect assets.