It’s kind of ironic that I’m writing an article on habits of financially wealthy people, when I’m trying to acquire some type of wealth. I’ve read lots of articles, posts and comments about how some wealthy people live. And to tell you the truth, they are not that much different from me (apart from the fact that they are wealthy and I’m not.)
- They work hard – To earn your place among the wealthy, sometimes calls for hard work. There are few people who have become wealthy overnight. Often, years of hard work and dedication to the work, is the way people become wealthy.
- They have a positive outlook on life – Thinking negatively can impact you in more ways than you think. Staying positive motivates you and keeps you focused on reaching your goals.
- They live below their means – Although they could afford it, some wealthy folk live quite modestly. From the type of home they buy to the clothes that they wear, living below their means is a way of life.
- They are patient – Wealthy people understand that it might take a while to find the right deal or for their investments to grow.
- They save – Contrary to popular belief, some wealthy people save some of their money. And by saving, they can grow their money even more depending on the saving tools that they use.
- They have multiple streams of income – Many wealthy people have several income streams instead of one. The more successful streams you have, the more money you can make.
- They understand how their money works – Simple financial calculations are usually at the crux of understanding how money works. Some wealthy people know this very well and they know how their money works
- They understand that knowledge is power – Knowledge can come from school or experience or just by asking the right questions. Wealthy people know that to maintain their wealth, they need to be knowledgeable about their businesses and what’s going in their environment.
It sure seems easy to list these eight habits of financially wealthy people. But if you look closely, these can be habits of people trying to grow their wealth too. Personally, I can say that I practice habits one to five, but I’m working on the other three.
What other habits do wealthy people have that you can identify with?