It's a great day and these today, I like to share a wonderful piece from Huffpost written by Timothy Sykes.
Top 30 Millionaire Habits for Incredible Success
Timothy Sykes Entrepreneur, Leading Penny Stock Expert, Trader and Advocate
Habits are extremely powerful. Think about the most basic things you do every day, such as your morning and nighttime routines. These aren't even things you think about, you just do them because you've always done them. If you want to become a millionaire, you're going to have to program some new habits. Below are the top 30 habits that my millionaire students have that have led them to have incredible success.
1. Carefully Track Spending
It doesn't matter whether you make $200,000 or $25,000 -- if you don't keep track of how you spend, sooner or later you'll find yourself in the red.
2. Don't Trust Financial Media All The Time
Between all of the different financial news outlets and people promoting different products, you'll be pulled in a thousand different directions. It's important to stay informed, but remember that the media loves to sensationalize. Don't think that everything is smooth sailing or that the world is ending just because the media says so.
3. Pay Attention to Your Employee Benefits
Perhaps entrepreneurship isn't for you, or maybe you're just not ready to strike out on your own yet. Whatever the case, if you're working for someone else you should make sure you get employee benefits. Particularly, make sure to take advantage of your company's 401(k) plan.
4. Have Self-Control When it Comes to Spending
Don't buy every little thing you want, otherwise you'll fritter all your money away.
5. Create Clear Financial Goals
One thing is certain -- if you don't create any goals around where you want to get to financially, you won't see any real progress.
6. Watch Out for Recurring Expenses
Subscription fees of all kinds will sneak up on you. Don't view these things in isolation -- $19.99/month may not seem like a lot, but if you have ten different subscriptions you're going to pay the price -- literally.
7. Invest, Invest, Invest
You definitely need to make careful investments, but if you're not making efforts to grow your money, you won't see the results you're looking for.
8. Don't Forget to Have Fun
While you should definitely be careful on what you spend, make sure you have fun every once in awhile, otherwise you'll be miserable.
9. Wake up Early
I've talked about the benefits of waking up early before, that's because it works. Getting an early start helps you start each day with a clear mind and time to plan your day.
10. Read Something Every Day
There's a lot of knowledge out there, and every day you spend not reading is a day you're sacrificing learning something valuable. Make sure you read up on all sorts of different topics to keep yourself well rounded.
11. Get Outside Your Comfort Zone
The real difference between millionaires and everyone else is that millionaires repeatedly do the things that are uncomfortable. Whether it's working longer hours, networking, etc. Make sure you routinely step outside of and expand your comfort zone.
12. Take Some Time for Yourself Every Week
Working hard is the most obvious part of becoming a millionaire, but rest is the less obvious -- but equally necessary -- part of the equation. Every weekend, make sure to take some time (I recommend at least 2 hours) for yourself to do whatever you want.
13. Look for Opportunities to Work During Downtime
Downtime is different from free time. I don't mean to contradict what I just said about taking some time for yourself. I'm talking about when you're waiting to board a plane, waiting at the doctor's office, working out, etc. Find ways to get work done or to be productive in some manner. Five minutes here and there really adds up after awhile.
14. Never, Ever Stop Learning
In the same vein as reading every day, you need to make sure that you are always in "learning mode." The moment you turn your brain off and aren't receptive to learning anymore is the moment you resign yourself to not becoming rich. This is the reason I have over 500 educational videos on my YouTube channel, so people can go ahead and educate themselves for free.
15. Stay Motivated
A surprising number of people have a motivation problem. People always say they want to be successful, but few are willing to actually put that into action every single day. Make sure you're one of the few who stay motivated to put in the daily work.
16. Save, or Pay Yourself First
A surprising number of people have a hard time saving. Don't think of it as depriving yourself of spending money, think of it as paying yourself first. If you don't save, you won't be able to accumulate wealth.
17. Don't "Earn to Spend"
Don't accumulate money just to spend; accumulate it in order to invest and grow.
18. Take Calculated Risks
In general, the rewards you get in life are directly proportional the risks you take. However, make sure you calculate the risks and are smart about it.
19. Be Generous
Ironically, stinginess will most likely prevent you from ever being rich, because it will be a lot harder for you to create good connections and lasting relationships.
20. Have an Emergency Fund
Life is unpredictable, so make sure you have a rainy day fund to take care of any sudden fires that may pop up.
21. When Others Are Panicking, Invest
If the media has gone crazy and it looks like the financial sky is falling, there's bound to be a good moneymaking opportunity. Keep your eyes peeled for such situations.
22. Meditate
Taking the time to meditate, clear your mind, and focus on what you really want in life is essential for any millionaire.
23. Keep a Healthy Mind, Body and Spirit
You need to make health a priority so you can focus on key moneymaking activities.
24. Do Not Procrastinate
Going along with stepping outside of your comfort zone and doing things you don't want to do, millionaires cannot afford to procrastinate. Whatever you need to do, make sure you get it done on time.
25. Forge Lasting Relationships
I promise you that no millionaire has gotten there on their own. You need to forge long-lasting relationships if you want to make it into the millionaire's club.
26. Realize That You're In Control of Your Destiny
A lot of people just let life happen to them; millionaires take control of life and realize that they create their own destinies.
27. Keep Thinking About Your Big Picture
Why do you want to be rich? What's your "big picture" goal in life? You have to keep this in mind, otherwise it will be very easy to lose your way when things get though.
28. Give More Than You Get
No matter what you do, you have to deliver unparalleled service. If you do this, you will earn the respect of those you work with and your fellow colleagues.
29. Embrace Failure
Many people are afraid of failure and let it hold them back. Millionaires embrace failure because they know that each misstep is a learning experience that will bring them closer to their goal.
30. Take Initiative
Don't sit around waiting for opportunities to spring at you. You have to go looking for them.
Keep these habits in mind and you will have an enormous head start on your way to becoming a millionaire and achieving your life goals.
