The 12 best habits of Rich People
12. Be frugal – live below their means. Cover costs but avoid overspending on the little things and the company car. Taking calculated risks. Save 20% of Net-income and live on the remaining 80%. Spend maximum of 25% on housing, 15% on food, 10% on entertainment, 5% on auto loans. Stash 6 months of living expenses in ‘Emergency Fund’ in case lose job or business.
11. Limit entertainment/surfing the web/TV. Reading or working is time better spent. Keep a journal of all the things you choose to do i.e Personal development, networking, volunteering, working side hustle/business, or pursuing a goal that will lead to benefits in the future.
10. Make their bed. Linked to the ability to stick to a budget.
9. Meditate. Helps with better sleep and attention span. Allows you to listen to guidance within.
8. Say “no” to almost everything. Stay focused, what is best use of your time? Is this productive?
7. Excersize plan. At least 30 minutes per day. Walk your dog.
6. Wake up early. Sleep faster. Wake up and do Hour-of-power.
5. Communication skills. Spend time improving this art.
4. Read books daily. Listen to audio books on the way to work.
3. Build strong relationships. People you can trust.
2. Put their plan on paper. And keep track of progress throughout the day. Write down their weekly, monthly, quarterly, yearly, 5 year, 20 year plan down, and maintain a calendar and to-do list. Take as many notes as possible (journal).
1. Work ethic – 80 to 100 hours/week. Put in 10-18 hours/day for the first year. Don’t get bogged down with the details, get the medium to big things done. Focus on your strengths, the things you love to do. Eliminate or delegate the rest. Be happy, engaged and thoroughly inspired to succeed.
- Don’t gamble. If you do want to bet, use money from your ‘Entertainment fund’.
- Control your emotions and your mouth. “As you travel through life’s journey these 5 things be aware: Of whom you speak, to whom you speak, how when and where.” Pick your battles wisely. Don’t sweat the small stuff. Simmer down and evaluate the situation objectively. Build confidence to overcome fear based thoughts.
- Network and volunteer a minimum of 5 hours/month. Often boards and committees of non-profit groups are made up of very wealthy people.
- Go above and beyond. Wow your customers.
- Set goals, not wishes. Every year pursue at least one major goal.
- Avoid procrastination. Create ‘Top 5’ list and should complete 70% or more. Set deadlines. Be accountable to your partner(s) at least once/week. Say”Do it now” until you start.
- Listen about 5 times as much as you talk. Learn about others.
- Avoid ‘Boneheads’. Spend time with successful people that can refer business to you or open doors of opportunity.
- Never quit. Focus, persistence and patience. Chase your dreams, your big goals. Don’t fall short.
- Positively affirm your self-limiting beliefs. Study the greats: Napoleon Hill, Andrew Carnegie and Jim Rohn.
- Connect with mentors, people who have what you want. These can be local mentors. Find out how to help them, work for them and learn from them.
- Pursue a major purpose, what you love to do the most? What skill do you have? What brings you the most joy? Look at which has most income potential. Decide on your major purpose.