Human behavior, intelligence, talent and good looking qualities are great to read, but there is more than what separates the richest from the poorest. Our daily habits make us different from others.
That means that two out of every five minutes, all day and every day, we operate on autopilot. When a habit is formed and stored in the subconscious region, the parts of the brain involved in deeper decision-making.
“Decision Making is basically a thought process to choose what is right at that moment.” – WittyWinks
There are several differences between rich and poor. Some are clear, while others are a little more confusing. You must note and maintain the most important 10 Rich Habits.
Table of Contents
- 10 Rich Habits of wealthy people
- 1. Follow 20/80 rule of expense and savings
- 2. Don’t gamble – it is a waste of time and money
- 3. Read every day to increase your knowledge
- 4. Spend quality time and less time surfing the internet
- 5. Don’t be an emotional fool – just stay calm
- 6. Network and volunteer regularly
- 7. Don’t limit your boundaries
- 8. Focus on single task and avoid procrastination
- 9. Listening is their priority than talking
- 10. Know your purpose of life
10 Rich Habits of wealthy people
1. Follow 20/80 rule of expense and savings
Most of the wealthy or rich people follow the 20/80 rule. They save 20% of their net income for their future and live on the remaining 80 percent.
People who are struggling with their financial needs, almost living above their means. Their spending usually is more than their earning, and so, their debt makes them fear about their future. If you don’t want to end your life with stress, fear of the future or full of financial struggles, you need to make a habit of saving and budgeting. Here are some manageable ways to budget your monthly net income:
- Don’t spend more than 25 percent on housing
- Don’t spend than 15 percent on food
- Don’t expand your entertainment expenses
- Don’t spend more than 10 percent entertainment
- Contribute as much as you can afford to a retirement plan
- Think of savings and investments as two completely different things
2. Don’t gamble – it is a waste of time and money
People who are struggling financially play the lottery. But people, who are wealthy, hardly rely on playing the lottery or number luck and they create their own good luck with their better decision-making and the ability to invest and save. If you still want to play the lottery system after knowing the risk of loss of money, use money from your entertainment budget.
3. Read every day to increase your knowledge
People who read something motivational or inspiring books every day are wiser than others. Because, reading information will increase your knowledge and makes you an all-rounder among your colleagues, customers or clients. Wealthy people make good use of their free time by utilizing it for reading good books.
The main reason that why successful or wealthy people read more often is to improve their day to day knowledge. By doing so, they separate them from the crowd of competition among the society. With their increased knowledge, they are able to see or create more opportunities, which translate into more money.
4. Spend quality time and less time surfing the internet
Wealthy people always stay ahead by spending quality time with their family, friends and the customers to increase their business and money. They spend less time surfing the internet. However, they use the internet but just for increasing their day to day knowledge by reading motivational and inspiring content online. They don’t waste time on sending and receiving online messages, wishes or greetings to their loved ones. If they feel their absence, they personally visit them and spend quality time with them.
Wealthy and rich people use free time to engage with others for personal development, social networking, volunteering or pursuing some goal that will lead to rewards down the road.
5. Don’t be an emotional fool – just stay calm
Wealthy people try to stay quiet unless or until they feel that they really need to talk. They are not an emotional fool and stay calm. Because they know that not every thought needs to come out unless it is really urgent. And they also know that not every emotion needs to be expressed every time, everywhere.
If you don’t follow this habit of wealthy people, you risk hurting others by saying whatever is in your mind. This is the habit of people who are struggling financially. Wealthy people filter their emotions before they are out of their mouth.
Always remember that letting emotions control your character can destroy your personality or relationships at work and at home.
6. Network and volunteer regularly
Networking and volunteering regularly build relationships and it can make more customers or clients. Most of the wealthy people network and volunteer every day or at least a few hours in a month.
7. Don’t limit your boundaries
People, who are struggling financially, usually limit their boundaries in terms of helping others. They don’t go beyond their limits and due to this reserve nature they lack the new opportunities of business and money. Wealthy people, on the other hand, always try to help others in terms of volunteer and network. They work hard to achieve their goals or their businesses.
8. Focus on single task and avoid procrastination
Wealthy or successful people better know the worst impact of procrastination. The quality of work done is lower than the focused one because doing multiple tasks without completing the first one creates dissatisfied employers, customers or clients and damages other non-business relationships. Here are five tips wealthy or successful people often do to avoid procrastination:
- They create daily “to-do” lists
- They have a “daily five” most urgent activities or goals
- They set and communicate artificial deadlines
- They say a “do it now” affirmation
- They ever ready to “help others”
9. Listening is their priority than talking
Wealthy people listen more than they talk. By doing this, they grasp the knowledge and then speak with confidence. You should listen to others more than you speak. Do you know that wealthy people are good speakers because they are good listeners? They learn and educate others only by listening to what other people have to say. They have patience, focus and persistence in their attitude.
10. Know your purpose of life
Last but not the least because this is the last Rich Habit in this article, but it is the most important from all other habits of rich, healthy, wealthy and successful people. People who maintain their purpose in life are wealthy and happy among people who are financially struggling. Because they love what they do and they do what they love for a living. They are more devotees to their lives than other.
If you too want to find purpose in life like other wealthy people, follow these tips. Believe it or not, finding purpose in life is easy. Here’s the process:
- List everything that made you happy
- Highlight your skills in your list
- List top 10 highlighted items in the order of happiness
- Make a list of tasks which are more important
- Follow your intuition by believing in you
I hope this bite-sized knowledge about knowing rich habits of wealthy people is worth to read and if you think that by implementing these habits into your day to day routine can change your life, then please be share with your friends and family or whom you love and care.
Thanks for reading.