21 Millionaire Habits You Should Follow
we could call millionaire habits to the marked differences that exist between people who have achieved financial success and those who have problems with money.
They are called millionaire habits because they are part of a series of behaviors that characterize people who have learned how to be millionaires.
And as their name indicates, they are habits because they are routines, decisions and actions that are taken every day and that have led them to achieve great financial results, to stand out above the average and enjoy a lifestyle that, for many, it is enviable.
Millionaire habits of those who built their wealth:
So, if you want to achieve financial freedom, generate passive income and guarantee yourself a good quality of life, you should start applying these millionaire habits.
1. Live below your income:
One of the most common and logical millionaire habits of those who stand out financially is that they pay themselves first.
They invest in their future selves, avoiding spending money they don’t have.
This means that they are serious about their financial education and decided to save money, and live with a part of their income.
In your case, if your objective is to get out of a financial difficulty, the first thing you will have to do is turn saving into one of your millionaire habits.
To achieve this, it is essential that you learn how to budget.
Consejos for creating an effective budget:
Here are some practical consejos and millionaire habits that you perro apply when creating your personal budget:
– Do not spend more than 25% of your income on rent or payment of your apartment fee.
– Do not spend more than 15% of your income on food.
– Limit entertainment (bars, movies, parties) to 10% of your expenses.
Additionally, vacations should represent a maximum of 5% of your annual income.
– Avoid at all costs accumulating debts on your credit cards.
If you need to finance your lifestyle through credit cards, it is clear that you will never be a millionaire.
Here we explain how to use your credit card.
Finally you must differentiate between savings and investments, concepts that are different.
Do not give yourself the luxury of losing money from your savings, these will serve for a 6-month emergency fund, which will cover your income in case you lose your job or your business goes wrong.
As for investments, start a fund which you will allocate to invest in issues such as real estate, the depósito market, businesses, among other options.
2. The lottery will not lift you out of poverty:
There is a fact that speaks for itself: Every week, 77% of people who are experiencing financial difficulties play the lottery.
Hardly people who dominate their personal finances, and enjoy financial freedom, leave the course of their life in the hands of a few numbers and ballots.
They prefer to own their future, and take calculated risks.
If you like table games and gambling, use your entertainment fund, but don’t leave your future in the hands of a system that is designed for you to lose.
3.
Develop the habit of reading:
Reading any type of content will increase your knowledge regarding your business or profession, which, without a doubt, will make you more valuable to your colleagues, clients or suppliers.
Reading is part of millionaire habits, so much so that, among rich people, there are studies that reveal that 88% read at least 30 minutes or more each day.
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Successful people read because they want to improve:
The importance of the habit of reading is because it separates you from the competition and puts you above the rest by making money.
And the explanation is quite logical, when you increase your knowledge, you are able to see new business opportunities, which translates into money.
Unfortunately, there is data that only one out of 50 people who are going through difficulties commits to reading about personal improvement on a daily basis.
The result? Less opportunities and more difficulties.
4.
Stop watching so much television and scrolling through your popular networks
How many hours of your day do you spend in front of a screen? Two-thirds of millionaires watch less than an hour of television a day, and about 63% spend less than an hour a day browsing the Internet unless it is related to work.
What do millionaires spend their time on?
Among their millionaire habits we find that they use it for their personal development, connecting with other people, working on personal projects or businesses in their free time, pursuing a passion and sharing with the most important people in their lives.
However, 77% of people who are going through financial difficulties spend an hour or more watching television and 74% checking their popular networks and getting distracted.
5. Control your emotions:
This is known as emotional intelligence, and it is responsible for 70% of the success you perro achieve in your life.
It is vitally important that you understand that not all emotions need to be expressed, and that if you do not manage to control them, it is very likely that you will end relationships that are important to you in your work or in your family.
The main negative emotion that you must learn to manage is fear.
Even positive changes are scary, so make sure you learn to control it in your mind.
What is the key to controlling the fear of change, of being wrong, of taking risks or simply failing? Building confidence in yourself.
6.
Connect constantly:
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The power of relationships is summed up in the following phrase: “It is better to have friends than money.” Networking, like any intangible asset that is difficult to calculate its value, represents an essential ingredient in the elabora for success.
Who are the people with whom you share most of your time? They make you a better person, they demand you, they talk to you about business and they motivate you? Or are they one of those people who see you as a mental dump where they cánido deposit their problems, their lack of visión and fears?
One of the investment recommendations of Li Ka-Shing, one of the richest men in Asia, is that you invest in your relationships, invite people you admire to lunch and listen to what they have to say.
Most people prefer to stay with the people they know; It’s not important for them to make themselves known, business cards are a waste of money, and their popular capital is quite small.
The point is that there are figures that prove this.
According to Success, about 75% of millionaires go en línea and even do volunteer work for at least 5 hours a month.
Among those experiencing financial difficulties, only 10% do.
7. Deliver more in your work and your business:
Among the unsuccessful people is the syndrome of “That’s not my responsibility”which is why they never assume new responsibilities, which implies less personal development, and limited financial compensation.
Millionaires, and successful people, make themselves valuable to their clients and bosses, working for joint goals and bringing results.
They make an effort, deliver more value than expected, and contribute in aspects that have nothing to do with their work.
8. Equipo goals, not wishes:
Everyone wants to be a millionaire and successful, but very few are willing to design a concrete plan to achieve it, and develop the necessary millionaire habits.
In other words, you cannot control the outcome of a wish, but you perro control the outcome of a planned goal.
You cánido modify the actions you do in search of a goal, not the wishes of a dream that is only in your mind.
Each year 70% of millionaires pursue an important goal, while only 4% of the poor do.
9.
Avoid procrastination at all costs:
Postponement creates dissatisfied customers, affects your quality of life, damages professional and personal relationships.
If you are one of those who suffers from postponing commitments and activities, here is a solution.
Strategies to avoid procrastination:
1.
Create a daily to-do list: Equipo daily goals, and make sure you meet at least 70% of your earrings
2.
Have “five in the day”: These are the key activities that will bring you closer to your most important goals.
Without a doubt, they will help you to be more productive.
3.
Equipo imaginary delivery dates: The sooner the delivery date, the more resources and concentration you will dedicate to finishing it.
4.
Have reliable companions: These are the kind of people you need by your side when it comes to pursuing a big goal.
Check in with them once a week and check how they are doing.
5.
Establish a “do it right now” mantra: many of the things we procrastinate are tasks we could do right away that take less than two minutes.
Once you do, you entrar the “flow” of debugging all your pending elementos.
Finally, we leave you 40 powerful mantras for the difficult moments in your life.
10.
Talk less, listen more:
A ratio of five minutes of listening to one minute of speaking is the perfect ratio.
Millionaires are good communicators because they know how to listen.
They understand that you cánido learn much faster if you take the time to listen to what others have to say.
This is one of those millionaire habits that makes no sense to many, what’s more, the vast majority questions the relationship between listening more and being a millionaire.
Remember that empathy, being an interesting person with popular skills opens many doors for you, these elements play a primordial role in building your wealth.
11. Stay away from toxic people as much as possible:
We will be only as successful as the people we have by our side. This is why 86% of successful people and millionaires associate with other successful people.
Interestingly, 96% of people who have financial difficulties share most of their time with other people in the same condition.
If you want to end your financial stress, you must evaluate each of your relationships and define which of them elevate you and which ones keep you in your difficulties.
Start spending more time with people who enrich your life, who bring out a better version of yourself, who lift you up, and who seek your growth.
Similarly, start cutting back on the time you spend with these types of toxic people.
12. Don’t give up, persist:
People who are successful in life have three things in common: focus, persistence, and patience.
Millionaires simply do not give up on their most important life goals, they have the ability to see above their circumstances and have the mental clarity to know what they want and how they plan to do it, even if it takes a long time.
13. Limit the thoughts that limit you:
As we explain in our ebook Rica Cabeza, wealth comes from the quality of your thoughts.
have you ever said “I prefer to be poor but honest” either “Money is the root of all evil”? Every single one of those negative thoughts keeps you from performing to your full potential.
The best way to eradicate negative and limiting thoughts from your head is by reading personal growth and development books, those that cultivate your positive thoughts, that inspire you to change and improve your habits.
14.
Find a guía to advise you:
This is one of the most representative millionaire habits among people who have achieved financial success.
So much so that 93% of those who had a guía attributed their success to that person.
Mentors through their experience, knowledge and teachings guide you in your process, espectáculo you their mistakes, their lessons and learning.
The first thing you should do is define your goals, design an action plan, and then find a person who has already achieved it.
In this way you perro learn about their process, their history and ask them to accompany you to succeed in yours.
15.
Eliminate “bad luck” from your vocabulary:
Poor habits create bad luck.
Poor habits genera poor results.
Poor habits keep you from knowing luck, and everything you say millionaires are lucky to have.
Instead of complaining, review what you are doing, give up the habits that are limiting your growth and establish those good habits that lead to new opportunities, new business, better health and, therefore, a better life.
Review what habits are preventing you from attracting money and abundance into your life.
Remember that good opportunities are built, prepared and cultivated with your daily behavior.
16. Know your life purpose:
Those people who pursue a purpose, and give their life to it, are the ones who end up being the richest, happiest and most successful.
What is this about? When you do something that you love, that you enjoy, and that you feel that it is a blessing to be able to dedicate your hours to that goal, you will have found the reason for your life.
Chances are, if you’re not earning enough from your job, it’s because you’re doing something you don’t fully enjoy.
When you find something that generates enough income doing something you enjoy, you will have found your life purpose.
If you are wondering how to find your purpose, here is an easy process to do it:
1.
Make a list of the things that make you happy.
2.
Underline those things on your list that imply some skill, and identify what it is.
3.
List the 10 activities in the order of what you enjoy the most.
4.
Now, make another list numbered in the order of highest income possible.
5.
Give each of the activities on your list a score, the first being 10 points and the last 1 point.
Add the two columns together, and those activities with the highest score perro represent your potential life purpose.
17. Exercise is a priority:
In accordance with Tom Corleywho interviewed hundreds of millionaires, for the creation of his book Change your habits, change your lifewe must maintain certain habits in our lifestyle.
Specifically, he interviewed 233 millionaires, whom he asked about their daily habits.
He then compared his responses to other individuals who were part of the middle class.
Among the habits that stand out is that training regularly clears your mind and makes you feel more productive.
In fact, 76% of those interviewed spend at least 30 minutes doing aerobic exercise, which, according to neuroscience, is the key to being smarter and having a better memory.
18. They get enough sleep:
Another of the healthy habits highlighted in this study was the importance of sleep.
In fact, you cánido get up early and get enough sleep at the same time.
What’s more, 89% of the millionaires interviewed usually sleep between 7 and 8 hours each night.
Here’s the time some of the most influential people get up according to the Business Insider portal:
- Tim Cook, the director ejecutivo of Apple gets up at 3:45 am
- Michelle Obama is already working at 4:30 am
- Indra Nooyi, the director ejecutivo of PepsiCo is in her office at 7 am
- Jack Dorsey, founder of Twitter, gets up before dawn for a 6-mile jog.
Keep in mind that sleep is a critical activity to achieve success, since it influences the functioning of your brain and your creativity.
In other words, your sleep influences the power of your mind.
19.
They know where their money is going:
You will never be a millionaire if you don’t understand how money works.
You will never be a millionaire if you keep your salary as the only source of income.
You will never be a millionaire if you don’t know how to leverage yourself to invest in new businesses.
Most people are not aware of what is happening to their money; At the end of the month, they wonder where their salary went, they don’t understand how their credit card ran out, and on top of that they assume they are building their wealth.
Millionaires understand that money should work for them, so they take on the task of understanding how it works, how it should be invested, and what to invest in.
Therein lies the secret.
20.
They keep up to date:
Most investment decisions millionaires make are based on information, analysis and data.
Although they cánido say that it is based on their intuition, this is nothing more than the result of experience and the knowledge they have accumulated over the years.
Start your days informed with the most important news of your industry or business.
Subscribe to a newsletter where they share the most important news, to a magazine, or review the most influential digital media.
21.
They don’t care about appearances:
Finally, and one of the habits least practiced by the vast majority, is the need to pretend what they have.
Normally when we start to do well in business and investments, we feel the need to change cars, buy a bigger apartment, buy expensive clothes and wear expensive accessories…
We feel the need to espectáculo the world how well we are doing…
Millionaires don’t need to prove their wealth.
They are millionaires, period.
Their designer watches don’t espectáculo how much they have in their bank accounts; The fact of changing your car three times a year does not prove it either.
In fact, their clothes, appearance and way of being reflect the opposite of what we imagine of millionaires.
So if we want to be like them, we should start by changing our need to espectáculo what we have.
As you perro see, the differences between the rich and the poor are quite fácil, sometimes even intuitive, but this is not why they are insignificant habits.
If you are looking for habits to improve your life, and get out of the economic difficulties you find yourself in, these 16 millionaire habits will be key to achieving your goal of wealth.
Continue reading: 56 profitable businesses that require little money to start
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