10 Money Habits Of The Rich That Will Change Your Life

I get it! You want to change your life for the better and want to hit the millionaire status. But you don’t know how. At the end of the day, you’re confused and think that you’re not good enough to become a millionaire.

Honestly, the primary thing that you’re missing is routine habits. Wealthy and successful people follow a strict habit routine that keeps them on the edge.

Hence, in this post, I’ll list the 10 Money Habits of the Rich that will Change Your Life.

Habit 1: Goal Setting

Goal Setting is the first habit you should embrace in your life. Without a goal, you have nothing to work at. It doesn’t matter whether it’s about making money or manifesting your dream life; unless you have a goal, you won’t be able to achieve it.

If you have too many goals and don’t know which one to follow first, the best way to come up with a conclusion is to journal. List all the goals you want to achieve. Take your time and be true to yourself. If you keep asking yourself about your primary goal, you’ll automatically know it in a few days.

And after you’ve set your goal, it’s time you stay dedicated towards it unless it’s fulfilled. That’s pretty much it with Goal Setting.

Habit 2: Time Management

While goal setting is critical, time management is complex. You can only master time management by experience. The problem with time management is that you only have 24 hours a day but a variable number of daily tasks. This is where goal setting comes in. You’ll automatically learn to manage time if you’re diligently working on a goal.

Time is money. The rich and successful know it and are masters of time management. Please don’t confuse time management with daily routine. Yes, daily routine is essential, but successful people also use their experience when making any decision, especially business decisions.

You can also read books to better understand how rich people manage their time.

Habit 4: Keep Learning

Change is the law of nature. To be open to change, it is vital to continue learning. Wealthy and successful individuals are always eager to learn something new, whether from a book, personal experience, watching videos, or taking a course. They pay attention to almost everything, but why do they put so much pressure on themselves?

Because learning something new always keeps them a step ahead. And being a step forward is the root of all successful decisions. Most businesses with moats are successful today because they started early. 

Habit 5: Eat Healthy

Name one Billionaire who is obese? I can almost guarantee you that none are. They know that without an excellent physical body, they cannot continue to lead the life they want. And it all depends on eating habits. Good eating habits can make a positive difference because they’re directly related to your brain’s performance.

If you regularly eat unhealthy, especially sugar, you’ll probably feel sleepy. Try it. So, if there’s one eating habit you can quit, quit sugar. You’ll automatically feel a difference.
If you work regularly and eat healthily, the chances of falling sick and contracting any serious illness will disappear.

Habit 6: Delegating

Time Management and Delegating are closely related. You’ll have to delegate your task to someone else to manage time efficiently to someone good at it. Delegation has always been one of the significant trends of successful people. They know which tasks they should delegate and which not.

I don’t know whether you have read the 80/20 Principle, but successful people diligently follow the 80/20 principle. In short, they delegate the minuscule tasks and focus on the majority ones. In fact, besides hard work, delegation is the secret sauce of wealthy and successful people.

Look at any wealthy people in the last decade; each of them knows the delegation game pretty well. Amazon, Apple, Microsoft, Google, Alibaba, you name it. But there’s a thin line between delegation and shying away from responsibilities.

Habit 7: Financial Planning

Do you know what is harder than making money? It is to keep increasing the amount. You might have heard of people winning the PowerBall lottery and going broke within a few years. They are great real-life examples of why financial planning is absolutely necessary to sustain wealth. 

No matter how much a person has, if they are not good at financial planning, bad things await them. 

Wealthy people know this damn right. This is why they take every investment decision seriously. Even when they are either millionaires or even billionaires, they are more eager to make and invest money than an average person. 

It’s okay if you don’t have any financial knowledge. One great book you must read is The Psychology of Money. It’s one of the best books I have ever read on financial planning. By the time you finish this book, you’ll be better at financial planning than most people around you. 

Habit 8: Risk-Taking

I will tell you a story I personally experienced a few years ago. I’ll keep it short, so stay with me.

One of my businessman friends was expanding his business and got a big offer from another businessman. The risk was huge, but the reward would make him filthy rich within a few years. On the flip side, if the idea didn’t work, he would go broke and be in massive debt. He took the time, analyzed the risks, and took the decision.

He worked hard to expand his business. Fortunately, the idea worked. He started getting more orders than he could handle. Fast-forward to 2 years… His company was debt-free and was generating positive cash flow.

This immense risk-taking makes a successful person different from an average person. Learn to take risks. Of course, you won’t have to take huge risks initially. Start small. You’ll make mistakes in the beginning, but with time, you’ll learn.

Habit 9: Thinking Out Of The Box

Thinking out of the box requires time and patience. Not everyone can think out of the box because it’s not something you can buy or learn from a book.

We all dislike crony capitalism, but those who come up with such ideas are intelligent thinkers. They know how to exploit the system to their advantage and stay within the grey area. Every successful person in the world is an expert at thinking outside of the box. It’s almost impossible to make a fool out of them.

Habit 10: Being Grateful

Now that you have reached the end of this list, it’s time to get yourself together. You are successful and wealthy and have achieved whatever you want to. But are you grateful? 

The beauty of being grateful is that it works both in positive and negative life situations. Being grateful can encourage you immensely through hard times or good times. 

Read the book Letting Go to learn how being grateful can change your life. In short, being thankful for everything increases your energetic vibration, making you more receptive to positive life situations. 

Bonus Habit 11: Optimistic Mindset

Mindset is one of the most important factors in deciding whether you’ll succeed. In fact, a pessimistic mindset is the root of all life problems. It’s normal and expected to fail at something. Still, the only difference between a person who succeeds and someone who doesn’t is how quickly they let go of the failure and return to work.
Successful people are contagiously optimistic. Well, at least most of them. Read the life stories of great men from the past, and you’ll see that they were immensely confident about their ideas and inventions.

If you’re eager to change your mindset but don’t know how then there are two ways: (1) Stay in good company. Stay away from people who are pessimistic about everything. (2) Read books about personality development, self-care, and biographies of great men.

If you follow these two, you’ll do much better within a month.

Leave a Reply

Your email address will not be published. Required fields are marked *