Adopt these 6 habits. Here are the 6 habits of wealthy people.
1. Living Frugally
This doesn't just get people rich, it keeps them rich. The ability to control your own spending is a crucial skill on your journal to wealth.
Living below your means is almost a mandatory habit to become wealthy. Learn to live on a percentage of your take-home income. This allows you to save and invest in yourself and in a potential business.
For example, if you make $45,000 after taxes, create a budget where you only spend $3,000 a month so you are spending $36,000 and can, therefore save $9,000 per year. This was actually very similar to my budget right out of college.
The more you can restrict your budget, the more you set yourself up for a better life later.
2. Keep Goals in Mind
Whenever wealthy people feel like giving up, they continuously remember why they are doing it. Whenever their alarm rings at 5:30 am and they don’t feel like getting out of bed, they remember why they are working so hard.
Ask yourself, why you are trying to achieve wealth.
Doing it to travel? Imagine yourself on a beach in Greece.
Doing it to pay for your children’s college? Imagine them walking through the halls debt free.
Doing it to spend more time with your kids? Imagine yourself playing with them at the park.
Use this skill to keep yourself motivated in those late and early hours.
3. Reading
The average millionaire reads at least 2 books per month. This can be considered one of the most important habits you need to learn when working towards wealth.
Train yourself to read 30 minutes before you go to sleep every day. No matter how exhausted you are, try to get at least some reading before you head to bed.
When I say 2 books a month I’m not talking about Harry Potter. Even though I love the series, I’m referring to self-help, business books.
Next on the habits of wealthy people is:
4. Masters of their Time
Wealthy people have developed the ability to master their day before it begins. They know what they are going to be doing, long before the hour begins
You can start doing this by opening Google Calendar. Now think of the things you have to do tomorrow, things that are set in stone like going to work/class, picking up the kids from school, and meetings. All of those get put in your calendar for their respective time and duration. Now you have the rest of your tasks, things that need to get done but aren’t concrete like “Email George Back” or “Work on Marketing Plan”. These get added in the tasks portion at the top of your calendar.
Here is an example of my calendar from a few years back. I was working on many projects at the same time so things were a little crazy.
As you can see at the top I can put tasks. Other than that I fill out my calendar normally. Google Calendar also sends me notifications to my phone 30 minutes before an event starts. It is all free at calendar.google.com
5. Gratitude
This habit, although controversial, has been shown through studies to affect happiness and performance. Simply being grateful in the morning for all the things you have can have major impacts on your mood and performance.
The 4 Hour Work Week suggest that when you wake up in the morning, make a list of things you are grateful for. This will set the tone for your whole day.
I have implemented this in my own life and is personally my favorite habit from this list of the habits of wealthy people!
6. Self-Control
I have kept this one at the end. If you are going to take anything away from this article, it’s that the number one habit that caused wealthy people to become wealthy is self-control.
Every single one of the previous steps, without self-control, will not happen. Learn that your mind makes the decisions, not your body.
P.S. Take these steps one-by-one. Don’t try to adopt all 6 habits of wealthy people at the same time, you will fail. Pick one and do it continuously for 3-4 weeks. The choose another one and add that to the first one. In a few months, you will have accomplished them all.
0 Comments