12 BEST Habits Of Rich People

 

Number 12. Frugal Hollywood portrayals of rich businessmen often show young hot start gunners taking huge risks while they say something like, "You have to spend money to make money baby" This is not the case. Cover the costs you need to, but avoid overspending. Avoiding overspending is one of the top ways rich people become rich in the first place. If you are just beginning your career, this is the first habit you need to develop. If you ever take a financial risk, it needs to be extremely calculated. Otherwise, keep costs as low as possible while still putting out a quality product. If you overspend on the little things, it will become a habit, and soon you will be sinking way too much money into the company car. Successful people develop reasonable budgets, and they stick to them. 

Number 11. Not Much TV - It's been reported that the average American watches five hours of television a day, that'sway too much if you plan to make your mark in a capitalistic society. There is a point where relaxing after a long day becomes simple laziness. Television is an art form, and a medium that can instill some of life's greatest lessons, but capping your screen time to an hour a day will drastically improve your productivity. With the extra four hours, you are much better off reading, or get this, working. Yes, if you want to be like rich people, you will have to work. To start, see if you can go a whole week without television. Keep a journal of all the things you choose to do instead. This will help you notice how much more effective your time management can become without television. 

Number 10. Make Their Bed - This one is easy, and we all know how to do it, most of us are just too lazy. Making your bed first thing in the morning won't impress your boss, and it won't make any sales, but it will put you in the right state of mind for the organization, tidiness, and productivity needed to achieve your goals. Having good habits necessary if you want to stick on the correct path to financial success, by making your bed, you are exhibiting a good habit, first thing in the morning. Having small good habits like this will project out into more crucial ones. For example, making your bed has been correlated with the ability to stick to a budget. Think of making your bed as a symbol of self-discipline. Starting your day with a little chore tells your brain that you are in control and getting things done today. Millionaires are over 200% more likely to make their bed in the morning. It's something easy that you can start right now. 

Number 9. Meditate - What do Rupert Murdoch, Arianna Huffington, and Oprah all have in common, besides a billion dollars? They all meditate. People are hesitant to meditate because they think it's a waste of time or boring. Their loss. Ray Dalio attributed a lot of his fortune in life to meditation stating, "Meditation, more than anything in my life was the biggest ingredient of whatever success I've had." It is no wonder when you consider the universal benefits regular meditation has been shown to produce. Among other things, meditation adds more hours to your day, improves brain function, helps you have a better night's sleep, and increases your attention span. With the amount of Smartphone apps created solely for meditation, there is no excuse not to commit to even just 10 minutes a day. You will be surprised at the results. 

Number 8. Know When to Say No - As Warren Buffet says, "The difference between successful people and really such people is that really successful people say no to almost everything." You have most likely been told to try and say yes more to live a fulfilling life or even just to improve your networking skills, but this is not the case for the financially inclined individual. People who succeed have a singular focus. They know when to say no to someone because they can identify it as a waste of their time. This does not always mean saying no to people trying to divert their workload, it also could mean saying no to a bad habit. If you have a bad habit of sleeping or playing too many video games, you need to learn how to say no to these impulses. Have a goal in mind, and only say yes to activities that will increase your productivity. 

Number 7. Stick to Their Exercise Plan - In his book Change Your Habits, Change Your Life Author Thomas C. Corley insists "Daily Aerobic exercise feeds the brain, cleans the brain, and increases your intelligence, every time you engage". This is probably why 76% of people with a liquid net worth greater than $3.2 million exercises for 30 minutes every day. They aren't just doing it for the muscle either. It is a scientific fact that working out can increase your memory, concentration, and mental sharpness. You don't need any money to get started either. Exercise can be as simple as walking your dog. Aerobic exercises such as jogging, biking, or kayaking is perfectly suitable to get your brain pumping. Creating your exercise plan and sticking to it also strengthens your self-discipline muscles, which are necessary if you want to earn with the best of them. 

Number 6. Wake Up Early - Time is perhaps of the most valuable asset in the world to the modern-day entrepreneur. If you feel like you never have enough of it, the answer is simple, wake up earlier. Easier said than done, but if you can get yourself out of bed around 5:30 am without pressing the snooze button, you will have a huge advantage in any career. People who wake up early tend to be more proactive because they feel in charge of themselves and have more time to reflect on their long-term goals. They also tend to be better planners. By giving themselves the extra time, they can have more leeway organizing their thoughts and planning their day. Finally, they tend to be more optimistic. Studies have shown early risers tend to be more agreeable and conscientious. Maybe it's seeing all that sun the night owls miss. Rise early in the morning and you will have so much more time to achieve. 

Number 5. Actively Work On Communication Skills - Author Brian Tracy compares communication to typing, anybody can learn how to do it. When you communicate effectively, almost every part of your life, business, and pleasure, improve astronomically. That is why business leaders spend a little time every day sharpening their skills. Richard Branson describes communication as an art and says it "is the most important skill any leader can possess." Like any art, however, it is a long path to mastery. If you already feel confident, know that there is always room for improvement. If you feel less than adequate, all it takes is a little practice to achieve major results. Elon Musk once described his troubles with public speaking, saying he would shake until he couldn't speak, but he "learned" how to stop doing that. Poor communication is a deficiency many modern business leaders have been able to overcome through practice. 

Number 4. Read A Lot of Books - You might wonder how exactly Jeff Bezos or Mark Cuban got so dang savvy. The answer is they read books. That's why they call it book smarts. People forget about books, but they are crucial to gaining true knowledge of subjects; and as they say, knowledge is power. If you do not seek knowledge throughout your life, you will not find it. Watching educational YouTube videos and skimming internet articles can give you a quick fix, but nothing can ever replace a book. People spend their whole lives researching something and then write a book about it. They truly understand it, and by writing a book, they are telling you the most important parts of it with easily digestible information. What a gift! If you have tried reading and you just can't, try audio books! According to research conducted by Thomas Corley for his book Rich Habits: The Daily Success Habits of Wealthy Individuals, 65%of rich people claimed they listened to audio books on the way to work. On the contrary, only 5% of impoverished people claimed to do the same. There is a wealth of information out there for anyone, you just have to take the time to absorb it. 

Number 3. Build Strong Relationships - Almost everyone has got a job from a friend. "It's all about who you know" is a common phrase in almost every industry, but networking goes deeper than that. Successful networking is more than gathering acquaintances; it's about building strong, legitimate relationships with people who inspire you. In the same way, a relay team is only as fast as their slowest runner, you will equally be affected by the people you choose to run with. For successful people, it's not about having"connections", it's about connecting with people they can confide with, trust and lean on if necessary. You only have so much time, be careful about who you choose to spend it with. Cut toxic and negative people out of your life, and your doubt may follow. Just make sure your friends are honest with you and not just a bunch of yes men. No one likes a tycoon who has no self-awareness. 

Number 2. Plan Every Day on Paper Or they type it. The point is, they don't just mull over their thoughts on the day and try and stick to it. They put words to their intentions and keep track of their progress throughout the day. If you have ever tried to just pick groceries without a list, you most likely know that this process will let you downtime and time again. Don't let yourself down in life, write down exactly what you mean to accomplish and execute. It is reported that people who maintain a calendar and to-do list are 289% more likely to become millionaires compared to people who do not keep track of themselves. If you start planning every day right now and continue the ritual, you are 3x more likely to become a millionaire in your life. While you are at it, make sure you keep as many notes as possible. Richard Branson and Bill Gates are both notable note-takers and they attribute the habit to their success. 

Number 1. They Work Here is the reality, if you want to be a self-made millionaire; you have to work for it. Plain and simple, just like anything in life. If you want six-pack abs, there is no secret diet, no pill, no shortcut to achieving them. You have to put the time in. It's a mixture of willpower, determination, and discipline. Elon Musk reportedly works 80-100 hours a week and says, "That's the type of work ethic an entrepreneur needs to have". Gary Vaynerchuk, CEO of the digital marketing company Vayner Media, says that the biggest reason people cause their business to fail is they simply don't work enough. He recommends working 18 hours a day for the first year. That's what it took him to be successful. He woke up before everyone, went to sleep later, and worked more in-between. Now he is a self-made millionaire. If you truly want that amount of money, you're going to have to work for it.