How can you get the most out of the money you earn? Many people think it’s all about earning more money, but that isn’t necessarily true. There are certain habits wealthy people do every day which you can do to get more out of your income. Read this list of 7 habits to make you wealthy and start your journey towards financial freedom!
Be Self Aware
Self-awareness is one of those habits that makes people wealthy. Most people think that if they just had more money, they’d be happy. That’s not true at all. What most people don’t realize is that money can solve a lot of problems, but it can never buy happiness—that’s your job. The reality is that wealth isn’t always about how much money you have; it comes from being content with what you already have. If you really want to be rich, start by being self-aware and finding out who you are as an individual. Are there things in your life that make you happier than others? Once you know yourself better, then start working towards what will bring you joy and purpose every day.
Believe that it’s Possible
To become wealthy, you first have to believe that it’s possible. You can’t think What if I never have enough money? This mindset will lead to a self-fulfilling prophecy, making it easier for you to fall into a cycle of poverty. Instead, believe that you can be anything and do anything—just like Richard Branson, one of the wealthiest men in the world. In his autobiography Losing My Virginity, he wrote: I knew from my teens that I would start a business of my own one day … The only thing on my mind was how. Remember: Even if you don’t feel like a millionaire today, once your mindset shifts, so will your circumstances.
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Get your Financial House in Order
The first step to getting your financial house in order is to determine your net worth, or how much you own minus how much you owe. In order to do that, it’s important to track all your expenses and see where your money is going. Having a firm grasp on what you spend on will make it easier for you to establish goals. This may be done with pen and paper (or an app like Mint) or by sitting down with a professional; either way, making sure you know where all your money is going will give you an idea of where improvement can be made.
Exercise isn’t just healthy, it’s also a powerful tool for boosting your mood and clearing your mind. Any type of exercise is beneficial, but some activities may be more conducive to boosting wealth than others. Studies have shown that those who engage in activities such as golfing or dancing may boost their wealth by as much as 30%. Find an activity you enjoy and will stick with and you’ll be well on your way to building a wealthy future.
Have Clear Goals
The first habit millionaires have in common is a tendency to have a clear vision for their future. Those who set goals accomplish significantly more than those who don’t. Your goals can be anything from getting fit and healthy, starting your own business, or simply saving enough money for a rainy day fund. You can’t become wealthy if you aren’t aware of what you want and where you want to go!
Eat Well and Stay Healthy
You can increase your energy and productivity at work, as well as improve your long-term health. If you’re not eating right, it can be hard to concentrate on other tasks that need to get done. A poor diet not only takes a toll on our body but also affects our minds by lowering our concentration levels. It’s easy to lose focus when you’re worrying about what you eat!
Creat Good Habits
Think back to when you were in school. Did you remember learning about how habits work and how they’re formed? If not, no worries. Charles Duhigg, author of The Power of Habit: Why We Do What We Do in Life and Business, explains that habits are powerful because we don’t have to think about them. When we learn a habit, our brains go on autopilot and we react in certain ways without thinking about it (Duhigg says these can be negative or positive). You can use that knowledge to your advantage—and create good habits that will help you become wealthy. For example, if money is tight but your job gives you a generous expense account each month, think twice before splurging on lunch every day.
The wealthy don’t think about money; they think about money habits. They don’t talk about saving, investing, or getting rich; they talk about living by certain habits. Once you have gotten in the habit of many of the tips mentioned above, like budgeting, eating healthy you will eventually reap the rewards. Each of these tips is generally things you already should be doing. I think it’s hard to look at a list and just go down and cross stuff off. What will be better is being consistent and thinking as if it’s not optional. Make many of these tips feel natural, you will see it won’t feel difficult at all.