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11 Money Habits Of The Rich

Are you broke and want to be rich? Who doesn’t!

If you want to be like the rich, maybe we should learn about their daily habits / morning rituals.

Here are 11 money habits that separate the rich from the poor.

Automate Your Finances

Set your financial plan on auto-pilot. Once you get paid, send money automatically to your savings account, investment account and your bill payments.

This way, you won’t ever be hit with a late fee and you won’t be tempted to skip your savings one month. That’s because your money will go directly from your paycheck into your savings/investment accounts.

Invest Your Spare Change

To truly build wealth, you need to invest what you earn. Even if you don’t have a lot of money to invest, it’s still a good (and fun) thing to try out. It is exciting to see your money grow.

You don’t need millions to start investing either. You can use a micro-investing app like Acorns to begin investing your spare change. With Acorns, the app rounds up your purchases and puts your spare change to work.

For example, spend $42.63 and Acorns will round up to $43 and invest the $0.37. It doesn’t sound like a lot, but it is a pain-free way to begin investing.

The power of savings isn’t in the amount, but rather how early you invest and how often you continue to add to your investments. When you start early and do it often, you are letting the power of compound interest work its’ magic.

Take The Fast Lane

Thinking you are ever going to get rich by working for someone else isn’t the right approach. To become wealthy you need to be the one at the top of the food chain.

The slow lane is 40 years working at a 9 to 5. The fast lane is starting a business, no matter how small. The power in running your own business is that you can automate and outsource most tasks, which makes this income passive.

Look at anyone who is rich and you will always see they took the fast lane to wealth – not the slow lane!

Have A To-Do List

Another rich person habit is to have a to-do list. The wealthy value time, knowing that time is money. They take advantage of their time wisely by always having something to do.

The poor, on the other hand, seem to always complain that they never have any time. Then, find themselves bored half the time.

Wake Up Early

Millionaires wake up early. That’s because people are most productive early in the morning. It’s quieter, the sun is coming up, birds are chirping. What a wonderful start to your day!

The wealthy wake up early and take advantage of their time, the poor set an alarm to wake up, then rush to barely get to work on time.

Eat Healthy

Rich people care about their health more than the poor do. The rich count calories, go to the doctor, exercise regularly and eat healthy.

The poor? They eat fast food and sit at home watching tv on the couch.

Create Goals (And Follow Through)

The rich and wealthy are goal-setters who are constantly pushing themselves to be a better version of themselves.

One key money habit of the rich is to set specific goals – not general ones like “lose weight”. Nope, the rich set goals such as earn X dollars in Y days by doing Z.

Rich People Read Books

The rich read books. But not for entertainment, but to better themselves. Rich people are constant learners, always looking to learn more. For the rich, learning didn’t end at graduation – but rather started there.

Focus on reading self improvement books. Even reading just 10 minutes per day really adds up to quite a few number of books per year.

Wealthy People Take Risks

The rich take calculated risks to achieve their dreams of becoming wealthy. The poor, on the other hand, are too scared to try something new.

But you will never achieve anything by standing on the sidelines and watching. Get in the game!

The Rich Are Producers, Not Consumers

The rich abandon consumerism. You know, that silly stuff they sell on TV and those childish games of trying to impress people.

The rich are producers who create things that the poor will consume.

So, want to be rich? Stop consuming and start producing.

Surround Yourself With Successful People

You are the average of the 5 people you hang around with. Are they losers? I bet you are too.

If you want to be a winner, get rid of the losers and hang around people who will help you “level up” in life.

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  • Edwin
  • December 31, 2019

Edwin is the money hacking millennial behind Cash The Checks. He lives a minimalist lifestyle and is always eager to learn and share his methods to save and make money.