You have probably seen it a hundred times. Another wealthy businessperson worth millions files for bankruptcy. How does this happen? How can a person who is literally making millions of dollars a year be broke? By taking a closer look at some of the mistakes people make to lead them to this predicament, we can learn what to do to avoid falling into the same trap as you build your online fortune.



If you are actively building an online business, you are probably doing so because, at least in part, you want to make more money. It is a very natural thing. Most people want a better life than what they currently have. While some might argue with me, I do not think this is a bad thing nor is it any lack of contentment that drives us. I think it is simply human nature to want to achieve.



The trick in achievement is often what to do when you have accomplished what you set out to do. When you start making more money and day to day financial struggles begin to fade, it is extraordinary easy to begin to think that you don’t have to worry about money anymore. You quickly begin to think that you can “afford it” and so you just start to buy. Your internal frame of reference gets out of line and soon you stop challenging yourself on buying decisions. After all, you are making all this money. The slide down the slippery slope begins.



When I first got out of college, I was 25 years old and making $42,000/year. I was an engineer and going nowhere fast in the company I worked for. I knew that if I wanted to make more money I had to change fields so I went into technical sales and began working for 100% commission. Within two years, I went from $42,000/year to four times that. I was 27 years old, single, no attachments, and making six figures. Life was good. If I wanted to buy something, I did. If I wanted to travel somewhere, I did. I ate out all the time, went to expensive sporting events and I never had to think about the cost… or so I thought.



Even with my modest change in “wealth”, I started to slide down the hill and racked up some hefty bills. Fortunately, for me I caught it in time and quickly changed my habits to stabilize things. What happens, however, when that behavior is not stopped? What happens when you add into that behavior an attitude of invincibility or, what I call, the “Midas Touch” syndrome? Usually it leads to disaster.



As you succeed in your internet business and begin to build your online fortune, remember that making more money does not mean you do not have to think about your spending or investing anymore. In fact, you need to be ever vigilant not to let your guard down. Put together a comfortable monthly budget and pay yourself only that amount every month. Then, when you have built up a surplus, reward yourself with some small luxury. Make the luxury affordable so you still have some reserve left. If you follow this simple approach, you will never have to worry about being one of the casualties of success and you will live a very comfortable life.




About the Author:



Daniel May is a professional internet network marketer specializing in helping other network marketers dominate by creating boatloads of leads and converting those into paying customers. See how for FREE ==> http://www.MLM-Maximization.com/?=article
Daniel also write regularly on his blog at http://DanielMayOnline.com


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