Your habits will determine how successful you are in any area of life.
If you eat bad food and don’t exercise you get fat.
If you don’t save money, make a financial plan, and overspend you go broke.
It’s not complicated but so many people choose to have poor habits instead of rich habits.
Wealthy individuals simple have “rich habits” when it comes to gaining wealth. This post will help you learn the ten daily rich habits that successful people share.
For example, do you have a positive and empowering morning routine that you practice daily? Do you even have a routine?
What guides your day? Your calendar, a to-do list, or do you just wing it?
After reading “Rich Habits: The Success Habits of Wealthy Individuals” I learned a ton of helpful, daily activities that anyone can practice.
The book focuses on the ten rich habits that a Certified Financial Planner saw consistently among his richest clients.
Here are the ten rich habits that shape wealthy individuals daily lives.
Rich Habit #1: Form Good Daily Habits
Success isn’t an accident and rarely, if ever, an overnight success either. Successful people simply have better habits that they practice on a daily basis.
Are a majority of your habits good or bad?
Start by writing down daily habits, both good and bad. For the bad habits find a way to replace them with a good habit. Learn to flip your bad habits to eventually becoming a strength.
#2: Set Goals Regularly
Your goals should dictate each and every day! Set goals every day in the form of a to-do list and always accomplish the hardest tasks first.
Aside from your daily goals, you should create monthly goals to see a bigger picture of what you are trying to accomplish. These goals can be work, health, or family related.
Your long-term goals will be the “30,00-foot view” of what you are trying to do for the next 1-5 years. Think of them as your guiding vision to crush your goals each and every day.
Long-term goals will be ones like buying a home, funding your children’s education, or starting a business by a specific age. To give yourself the best chance of achieving your goals start these habits.
#3 Engage in Self Improvement Each & Every Day
Successful people are always reading, learning, and focusing on investing in themselves. Self-improvement is part of their daily routine.
Warren Buffett is worth roughly $70,000,000,000 (yes, BILLION) and reads 600 to 800 pages a day.
If your nights are hectic, try to read in the morning before life gets in the way. Start reading articles, blogs, or books that interest you or are related to the industry you work in.
If you need any ideas start reading my favorite book recommendations.
#4: Devote Part of Each Day Caring For Your Health
What’s the point of getting rich if you don’t have your health?
Sadly, the majority of people focus on earning more money instead of focusing on their health. The goal isn’t to be the richest person in the cemetery, it’s to enjoy your wealth while you’re healthy.
Successful people prioritize exercise and healthy eating in their life. The mornings are usually the best time as you will increase your BDNF levels and heighten your creativity.
Shoot for 30-60 minutes of exercise each and every day. Even if some days are just taking your dog for a long walk, every little bit helps.
#5: Devote to Forming Lifelong Relationships
Successful people understand that one of their rich habits needs to be building a healthy network of other successful individuals.
As Tim Ferriss said, “You are the five people who associate with most. Choose your friends wisely.”
Find people who have like-minded goals that you have. If you see someone online that is doing what you want to be doing reach out to them. People LOVE helping people!
There is a reason people pay for high priced golf memberships not related to golf. They want to be around like-minded people with similar interest and goals.
It’s also the reason successful people have coaches. Even Michael Jordan had a shooting coach, Tiger Woods has a swing coach, and billionaires have “masterminds.”
Surround yourself with winners to help motivate you and succeed faster!
#6: Live Each and Every Day in a State of Moderation
Successful people find a way to live each day in moderation. They will celebrate success to an extent but they won’t get into a negative state and remain there. They find a way to keep their emotions in check consistently.
When you’re sad, mad, or frustrated you will probably make poor decisions.
On the financial side, successful people live moderate lifestyles as well. The 20 million dollar home or million dollar Lamborghini isn’t their style. Sure, some people indulge but a common trait among self-made millionaires is a moderate lifestyle.
I’m not saying you need to be so frugal you’re cutting coupons when you’re a millionaire but find a balance. Try to stay even keel to make consistently good decisions and not overspend to live above your means.
#7: Accomplish Daily Tasks Each and Every Day
DO IT NOW!
Humans LOVE to procrastinate or put off things they don’t want to do. Instead, do the things you don’t want to do first off in the morning at work or at home.
This will create a positive habit of not procrastinating and making sure you reach your daily, weekly and monthly goals. Once you create your daily goals make sure 80-90% of all goals are complete.
Life happens, if you can’t complete 100% of them all the time find time for them the next day.
#8: Engage in Rich Thinking Each and Every Day
When you think of a successful person do you think of someone who is negative or positive? Someone who is smiling with good posture or someone slouched over with a frown? Are they optimistic or pessimistic?
I think you know the answer. Successful people are positive, constantly smiling, energetic and happy. Even if they have a bad day, they don’t’ let it consume their whole day.
Successful people are constantly congratulating themselves internally all the time. Start celebrating your wins in life ALL THE TIME. If you hit your number at work give yourself a high five, pat on the back or enjoy a good meal out. Whenever you reach a goal, small or large, celebrate your wins!
By celebrating your wins your body will release endorphins that make you feel good and want to do it more often. Winning breeds winning.
On the other hand, don’t dwell on your losses. As a golfer I have come to understand that a golf round is like life, it doesn’t always go as planned! Instead of staying negative after a bad golf tournament, bad day at work, or bad news make it a temporary situation.
Reflect on why the mistake or bad news happened, what you can do now, and focus on finding a solution. Remember, it’s only failure if you don’t learn from it.
Find something you appreciate in life, focus on that and get going!
#9: Save at Least Ten Percent of Your Income
If you make a $100,000 a year and spend $100,000 per year your salary is worthless. Successful people ensure to save 10-30% of their income for their savings goals and retirement.
You have to pay yourself first then your bills. Not the other way around.
Earning money is important but saving money is equally important. Find ways to cut costs like extra channels on the cable bill, choose generic instead of brand name, and buy items in bulk.
Little things add up.
#10: Control Your Thoughts & Emotions
This habit is very similar to number six, living life in a state of moderation. But it’s worth noting again as successful people manage their emotions every single day.
Practice laughing when something makes you angry, stay a good state of mind and stop letting the little things bother you.
I promise you it’ll help your mood every single day.
Rich Habits Book Summary
None of these habits are new, mind-blowing, or unattainable to anyone. They simply require practice, persistence, and commitment to working for you every single day.
Remember, your life is dictated by your habits. Choose these rich habits to create the best quality of life for yourself.
Are you doing any or all of these rich habits to create wealth and success in your life? If so, what rich habits the ones you have seen the most benefit from?
Let me know in the comments.
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