The rich aren’t just lucky or hard workers. They have habits that those of us earning less than $75,000 per year don’t. From saving money to starting new businesses to learning more, these habits can be adopted, even by those of us who were born into middle-class homes and have never had to worry about money.

Did you know that the habits of the wealthy are actually simple and easy to do? Here are 17 habits that anyone can adopt to become wealthy. 1. Always Pay Yourself First – Wealthy people have no problem saving money. They always make sure to pay themselves first, before they pay their bills. This ensures that they have money to save whether they have a good month or a bad month.

word-image-3290 word-image-3291 Written by Candice Elliott Last updated: 12. May 2021 Disclosure: This article may contain affiliate links. We may receive a commission if you click on it, but there is no additional cost to you. For more information, please read our privacy policy.

Do you want to earn extra money?

Learning the habits of successful millionaires is not difficult. The truth is that such treatments exist among millionaires. There are things they do that anyone can do, and many people attribute their success to them. Is there a mysterious secret to wealth that most of us don’t know? Or are there things that rich people do that any of us can do? Bingo! In this article, we are going to tell you about 17 financial habits of the rich that you can adopt. Let’s take the plunge!

Richly different

The rich differ from you and me by , but not in the way you think. For the most part, they are no smarter than a dozen IQ points, have no money guru, and have not found the secret of alchemy. Rich people just have better habits than most of us, but these are habits we can practice too. You’ll be amazed at some of these simple and silly habits that anyone can adopt. They’re here!

1. You don’t stand out

This habit is what sets many rich people apart from some rich people. Perhaps the most glaring example is Warren Buffett compared to the people you see on Rich Kids or Instagram. Warren Buffett is the second richest man in the world and probably the smartest investor in history. Its net worth currently exceeds $75 billion. Buffett lives in the same house he bought in Omaha, Nebraska, in 1958, he still had a pinball phone instead of a smartphone in 2013, and his favorite pastime is not high-stakes poker, as some rich people do, but bridge. Rich people tend to live below their means. That’s why you don’t hear about people like Warren Buffett filing for bankruptcy, but you often hear about professional athletes and musicians who have had to take that step. Of course, when you have nearly $80 billion in your account, there’s not much you can do to lose it all. Those of us who have much less can follow the example of wealthy people like Warren Buffett.

How can I do this?

Don’t improve your life every time you see an increase in your income. Keep housing costs at or below 30% of your income. Stock up on emergency funds for the next six months by fully funding your 401k and IRA accounts. Once you’ve done that, you can indulge in the Rich Kids of Instagram style.

2. Early birds get worms

It can be hard to get out of a warm bed in the morning, but it feels good. This will give you time to move, another habit of the rich, before the day lets you down. Exercising in the morning is proven to increase energy and productivity. Arriving at the office earlier than most of your colleagues gives you time to start your workday. And without interruption, whether it’s colleagues who like to chat or phone calls. Those who get up early have a better quality of sleep. And we are only just beginning to understand the impact that good sleep has on our overall health, both physically and mentally.

How can I do this?

Try to go to bed earlier in the evening. If you have trouble falling asleep, do something during the day that makes you tired, for example. For example, exercising or doing household chores in the evening. In the evening, relax, turn off your electronics for an hour, take a warm bath, crawl into bed and let yourself fall asleep. And don’t forget to set your alarm clock so you can get up early the next day. When you sleep more, you feel better and get up easier the next day.

3. Your network

It’s an old saying: It’s not about what you know, it’s about who you know, because that’s why rich people build relationships. So it is also essential for those of us who seek wealth. Networking can help you find a better job, find a new colleague and surround yourself with other successful people – another habit of the rich.

How can I do this?

There are networking opportunities all around you. Personally book your trip to an industry conference or fundraiser. Make contacts, meet new people, strike up a conversation and exchange business cards. You can also work online, which is even easier. Go to LinkedIn, find colleagues in your industry and comment on their work. Go to Facebook groups, ask questions, answer them, cast yourself as an expert and contribute to the conversation. You’d be surprised how many business contacts and relationships you can establish with a simple communication. Give it a try!

4. They do not watch television

Americans watch an average of five hours of television a day. It’s a huge waste of time , and it’s something rich people don’t do. There are countless things you could do that would benefit you more: Exercise, read, sleep more, prepare healthier meals. But perhaps the most useful thing you can do with at least some of those hours is create a side business.

How can I do this?

Everyone should have more than one source of income. Your side income doesn’t have to be very extensive, at least not at first. Drive for Uber or Lyft, babysit or pet sit, clean houses, sell items on sites like Poshmark or eBay. One day, your side hustle may make you so much money that you can quit your 9-to-5 job. Even if you don’t, the extra money can go a long way toward helping you reach your financial goals.

5. Everything is simple

Each of us has only as much energy as we need. Rich people do not waste their precious energy on worldly matters, for they need it for important things. It helps us avoid what is known as decision fatigue. When you have too many decisions to make, even if most are only minor, your willpower and ability to make good decisions begin to weaken. That’s why Steve Jobs wears the same suit every day and why Warren Buffett eats the same sandwich for breakfast at a fast food restaurant. Don’t waste your time and energy thinking about little things that don’t matter. There’s another picture. Examples of great time wasters are spending too much time deciding what color shower curtain liner to buy or what dinner to have tonight – broccoli or asparagus.

How can I do this?

A good way to take the responsibility for such decisions off your shoulders is to put together a capsule wardrobe. It consists of basic pieces that go well together and can be combined to create a variety of outfits. You can also find a dozen recipes that everyone in your family likes and vary them. If you have an important decision to make, do it in the morning after a good night’s sleep, not when you’re hungry. If you’ve ever felt hungry and decided to go to a fast food restaurant instead of preparing a meal at home, you know how hunger can affect your decision-making. Reduce your options. Choice is good, but too much choice can be overwhelming and we can get stuck in indecision. If you have a dozen 401k plan options in front of you, you don’t need to read a 75-page prospectus for each one. Thirty minutes of research will narrow down your choices to your top three. You can then examine the three options in more detail to make the best decision.

6. You have patience

Rich people don’t do instant gratification in any area, but especially not money. That is why you will never hear of a rich man who became rich because he had a plan to become rich quickly. You know that building wealth takes time and that anyone who promises to make you rich quickly is a fraud. Investing is a long-term business. Even small amounts of money left untouched long enough can grow into large sums. Building a business (or a side hobby) takes time. If you drop every investment or project you start because it won’t make you rich in six months, you’ll never be rich.

How can I do this?

Take it easy. Take your time and above all: Practice. Practice makes perfect, and the more you practice patience, the better you become.

7. They make their bed in the morning

What could this have to do with wealth, if making the bed is such a small thing? That’s right. Making the bed is a small thing, but small things often have big consequences . Making your bed in the morning gives you a sense of accomplishment even before you leave your room. Since one good habit serves as the foundation for other good habits you practice throughout the day, making your bed in the morning is an easy cornerstone. It doesn’t take much thought, time or effort, but it prepares you to make the right choices for the day. Think about your eating habits. If you’ve had a healthy breakfast, you don’t want to negate its effect by eating an unhealthy lunch. If you get up early in the morning to exercise, you don’t want to undo that hard work by going home and drinking a bottle of wine.

How can I do this?

Make your bed in the morning and that’s it! If you don’t already do it or do it irregularly, it will add a few minutes to your morning routine. So make sure you get up a little earlier in the morning or schedule extra time for that. You’ll be surprised how good you feel. Good choices lead to even better choices.

8. They choose their 5carefully

Jim Rohn thought we are the average of the five people we spend the most time with. These people have the greatest influence on our behavior, decisions, and self-esteem. Who are these five people to you? Are they people with the same habits and goals as you? Are they positive and optimistic people? Do you feel good spending time with them? If you answer no to any of these questions, you need to think again about the people you allow into your life.

How can I do this?

Choose 5 people carefully. You need to be surrounded by successful, healthy, intelligent and happy people who will help you make the right decisions and prevent you from making the wrong ones.

9. They are formed by

If you think someone is well educated, it doesn’t necessarily mean they went to a prestigious school or even a university. This means that rich people are always learning.

How can I do this?

Show interest in learning. Read lots of books or audiobooks, some of which should relate to personal finance. Listen to podcasts, read newspapers, even different newspapers outside the US – it’s a big world out there and what happens elsewhere can affect the US economy and your money.

10. They love their work

We spend too much time working to hate what we do for a living. But that doesn’t mean everyone has to have their dream job. Many of us have what it takes to become an astronaut or an athlete. But if you want to be happy and successful, you have to find joy and fulfillment in the work you do. It doesn’t always happen overnight, and sometimes it takes several tries to find what you love to do. It’s all right, it’s all right. Remember, the rich are patient. Everyone has to do their part first, and that often means spending a lot of time doing things you may not like. If you get the chance to go to a position you like, that’s great.

How can I do this?

If you don’t like your job, you need to develop a plan to find something better. This is where networking and communicating with positive, successful people can be helpful. They will help you find a job that suits you.

11. They know when to move on

Rich people are patient, but they also know when to take their losses and move on. We all hate to admit that we were wrong and so we refuse to admit defeat and continue to waste time and money on things that serve no purpose.

How can I do this?

Take action. If it turns out that something, despite your efforts and time, isn’t working, whether it’s a job, relationship, or side hustle, learn from your mistakes. Remember what you did right and move on.

12. You run less risk

Rich people are not afraid to take risks, but they take calculated risks. They can jump out of the plane, but they have checked their parachute three times. Many of us passed up the opportunity because we were afraid of the risk. This may mean that you did not accept an attractive job offer on the other side of the country because you were afraid to leave what you were used to. Or you turned down a promotion at your current company because you felt too comfortable at your current level.

How can I do this?

Take calculated risks. Fear of a new challenge or leaving a familiar environment are not good reasons for not taking calculated risks. Don’t be afraid to fail.

13. They know where to spend

Sure, rich people might drive older, less flashy cars than rich people, but the car they bought was reliable. You could spend less on the car, but it is not the habit of rich people to spend as much money as at least . They are looking for quality because they want to get value for their money. In other words: They are economical, not cheap.

How can I do this?

Be more careful with the spending you do. You don’t have to be stingy here. It’s about making reasonable decisions about money.

14. They mind their own business

A reliable car bought by a rich man ten years ago is reliable because he took good care of it. They try to find a good mechanic they can trust, schedule regular maintenance, don’t ignore red flags, and are adequately insured so they don’t suffer a financial loss if something goes wrong. Even high quality items won’t last forever if you don’t maintain them properly. That little bit of maintenance from time to time, whether it’s regularly changing the oil on your car or regularly polishing shoes, will make the things you spend money on last even longer.

How can I do this?

Take care of your property. If you value your property and maintain it with care, it will last longer and save you money and time for an upcoming replacement.

15. You take the emotion out of the investment

As I write this, the Dow Jones index is down 1175 points and has lost $4 trillion in eight days. If you let emotions guide your investment decisions, you can panic, as many people have, and start selling your investments. That would be a mistake. As Warren Buffett says, be afraid when others are greedy and greedy when others are afraid.

How can I do this?

If you are investing money, you need to get away from the scary headlines and screaming pundits on CNBC. Once you’ve done your research, investing should be a breeze. Remember that another habit of rich people is patience.

16. They do not carry out desires

While some of us make wishes, the rich make plans. We may want to have accumulated a million by the time we’re 40, but that’s just a wish. Rich people will take the necessary steps to actually do this:

  • set aside 20% of their income
  • Do not get into debt with your credit card
  • Network so they can stay on the lookout for a better chance, and
  • They spend their free time earning extra money instead of watching TV or playing video games.

Meanwhile, the rest of us are blowing out birthday candles and hoping for a long wish list.

How can I do this?

Again: Take action. Take control of your life. Make a plan, execute it and measure your progress and results.

17. You’re lucky

The definition of happiness we have in mind is: Happiness equals opportunity plus preparation. Take networking, for example, to find a better opportunity. A wealthy person who wants to attend a networking event will prepare well in advance. You know who is involved in the event, what they do and for whom. They know who they want to talk to. You know something about this man and his business. They have copies of their updated resumes with them. They get the business cards of the people they want to communicate with and go to a meeting the next day to set something up, even if it’s just an informal meeting over a cup of coffee. These are the people who are lucky enough to get good opportunities.

How can I do this?

Try some of the tips above. Planning and preparation can take you far.

Anyone can do it

Did you notice anything in this list? Although the word wealth is in the title of the book, most of the habits listed have nothing to do with money and can be practiced by anyone. Indeed, these habits are not only applicable to money. Rich people usually succeed in other areas of their lives because they have these good habits. Things like being patient, surrounding yourself with good people and not making decisions based on emotion are good habits and have a positive impact on our lives in general. Start with the easiest thing on this list: make your bed every morning. Then choose a different thing, maybe one that requires a little more effort, for example. B. Participation in a networking event. Add something different every week or month until these rich habits become your habits . You will be surprised how easy it is to incorporate these habits into your daily life and what an impact they will have.

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