12 Habits Rich people Have That You Don’t
Everyone wants to go to heaven,
but no one wants to die.This powerful statement was mentioned by
Robert Kiyosaki in his book Rich Dad Poor Dad.
It illustrates a harsh truth about this world: so many of us want to live the sweet life, but most of us aren’t willing to do what is necessary to get there. As of 2022, approximately 56.1 million people (including millionaires who were born into wealth) out of 7 billion are actually willing to do what it takes to get to the sweet side.
Put into perspective, less than half the population have adopted the habits that make them rich. Would you like to join them? If so, stick around to find out which habits are guaranteed to make you wealthy.
1. They don’t snooze their alarm
As embarrassing as it is to admit, I am guilty as charged! Sometimes, I snooze my alarm two or three time before finally getting out of bed.While this may seem like a harmless habit, it can have a huge impact on your financial status.
According to studies, the rich rarely snooze
their alarms in the morning. They go to bed early, get good quality sleep, and wake up as soon as their alarm goes off. I advise you adopt this habit if you’re someone who stays up till the early hours of the morning watching Netflix, only to snooze your alarm and be groggy in the morning.
2. They make their debts work for them.
Instead of fearing debt and avoiding it altogether, the rich take their time to learn about it and use it to their advantage. They know that there are two kinds of debt: productive debt and destructive debt. Productive debt is used to finance a business or an investment that is moderately risky. This kind of debt acts as an asset. On the contrary, destructive debt is exactly what it sounds like: it destroys your finances. It’s usually used to finance luxury purchases such as new cars or homes. There is no productive value is using this kind of debt.
This is how the rich think: if they can take out a loan of $200 to finance a business that in the long run, will make a turnover of $500 and pay them $200 monthly, why not take on that debt? This is a concrete example of productive debt. Don’t go into debt to buy things that will losevalue over time like the latest iPhone model or a Gucci bag. Either stay away from it completely, or use it in a way which is financially rewarding.
3. They read
If you walk past first or business class on an airplane, you’ll see almost everyone with their nose in a book. They’ll either be reading during the whole flight, or just for a few hours. Either way, the rich know that knowledge in power. Even if they are reading a fictional story, they’ll find all sorts of life lessons to extract from that book.
Aside from books, the rich also read newspapers or business and finance magazines so that they can stay up to date with the current news. Aside from world affairs, the rich also take time to learn things that many overlook.
For example, it’s not uncommon to meet a wealthy person who can perform first aid or who knows how to sew on a button. Knowing these skills may come in handy one day and the rich keep this in mind.
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4. They’re frugal
Many people look at the Kardashians with their iPhone 13 ProMax, Ferraris, Christian Louboutin’s and think So this is what the rich do with their money’. This is a false reality. When your income increases and you’re driven by the urge to upgrade every little thing about your lifestyle, you’re faced with a common trap that so many people fall into.
There is no billionaire out there, self-made or otherwise, who mindlessly decides to swap out their old things for new shiny versions every few months. Wealthy people wear clothing from the dollar store and eat at regular restaurants. They live a very frugal life because they budget every little thing. Here’s why: living below one’s means is the best way to increase one’s bank balance.
Now the hard part is that this concept is easier said than done. Looking through Instagram, you’ll see a lot of people showing off their new Range Rover’s and their $1000 diamond bracelets. They hope they can sell you the dream reality. Little do they know that you are too smart to be lured by all this; you already know that they’ve most probably gone into debt to make themselves look rich.
5. They practice gratitude Gratitude is the best attitude.
If you like something, give thanks and watch how much more of it you get into your life. You’ll always see a rich person take their time to thank people around them. This can be employees who helped finish a presentation, the chef who brought their food to the table or the mechanic who looks at their car.
There is this false notion that rich people are uptight and ungrateful, but this is not true. They understand the value of human relationships in their professional and personal life. On top of this, the rich also understand the power of their reputation.
If everyone sees them as this angry person who blows up at everyone and everything, they know that they’ve lost over half the business deals before they are even presented to them. Reputation is the most important thing in the professional world. When you’re going around and thanking all those around you for their work, sincerely of course, everyone knows that you’re a compassionate person. You take the time to seek out those who do their job well or make your life easier and for that, you stand out.
6. They practice discipline even in tough situations.
Practicing discipline, even when you feel like nothing is going your way, is the key to success. The wealthy teach their kids from day one to focus on building discipline. Think of Usain Bolt. Even if there are so many who may be just as gifted as he is, he succeeded because of his discipline.
Had a fight with his coach? Doesn’t matter, he’ll still show up to practice. It’s going to rain within the next hour! Doesn’t matter, he’ll train someplace else. He always has a goal in mind, and nothing gets in the way of that.
Once the rich have a goal in mind, they get tunnel vision. It does not matter how hard the road may be or how much work they’ll have to do. Instead of focusing on motivation to make them work, they use their discipline to guide them to the top.
7. They get up early
To tell you the truth, when I was younger, I used to think that the rich would lay in bed all day, ring up their butlers for breakfast, and spend their time counting how many zeros they had in their bank account. Oh, how immature I was…
It takes a lot of time and effort to build your empire and even more to maintain The rich use every second to their advantage. aking up early, before the rest of the world, gives them more time to set the tone for the day. Some millionaires use these morning hours to meditate, work out, do some yoga. Others get straight to work. The bottom line is, they are up before everyone else because they know time is a precious commodity.
8. They’re unafraid to invest in themselves.
We all know about investing in the context of stocks and shares, and yes of course, the rich do this. But the rich also invest in themselves, in their own personal growth.
If you are someone who has a fixed income, you might find it hard to take some money out for yourself, but this is important if you want to succeed professionally.
Not only do you need the money to invest in your own business ideas, but you also need the self-confidence to know your idea is a multi-million dollar one. Investing in yourself means going to self-development classes, CEO management classes, or maybe even just going for a hair trim in the nicer part of town. The more money you spend on building yourself, your skills, and even your looks, the more confident you’ll be in yourself. This confidence will ooze through you and when you finally have that golden business idea, you’ll not just run after it, but you’ll also be able to convince others to join you.
9. They continue to provide value.
You need to stay relevant in business. Why do you think Apple, Microsoft, and so many other companies constantly reinvent themselves and come out with new products? They need to stay relevant with the contemporary market in order to sell. You need to do the same.
How do you stay relevant? Constantly provide value to others. Value can mean different things in different scenarios. If you have a multi-million dollar business, for example, you’re constantly providing value to your investors financially.
You may provide emotional value to your employees by taking into account their needs and doing your best to provide for them. If you run an app, you may constantly take note of what your users want and implement those ideas so that you keep your app running. You have to always take note of what those around you need and give it to them. Providing value keeps you relevant. Staying relevant keeps you successful.
10. They buy experiences and not things.
Have you ever suffered from buyer’s remorse? I know I have. I’ve walked into the store and bought something I’ve had my eyes on for months.
Except, once I’m back home it just doesn’t feel as good as I thought it would? The excitement is gone, and I feel a bit let down. ‘Did I even need to buy this?’ I find myself thinking. Material things should not bring you happiness. They can excite you for a moment, but they won’t keep you happy for long. Experiences on the other hand, are so much more rewarding.
The rich have always known this. This is why you’ll never see truly wealthy people wasting money on luxury and designer goods, but rather on vacations and outings with their loved ones.
Aside from the great memories they hold on to, going to new places expands their minds. They have more stuff to learn about, and in turn they’re able to find more money making opportunities. Experiences really do benefit us in all areas of our lives. So put aside your ‘to buy’ list and replace it with a ‘to do’ list instead.
11. They look after their health.
The rich build small habits that help them maintain their physical and mental health. They always take time out for exercising, reading, meditation.
All these things help them stay and maintain themselves. They also ensure they have a healthy and balanced diet filled with fresh fruits and vegetables and good sources of protein. Health is wealth! You have to protect it at all costs.
12. They leave an inheritance for their children.
There’s no denying the fact that money makes life easy.
I don’t think any rich person will try and
argue this. And because they are so aware of that, they ensure their children have the best chances to succeed in life as well. Leaving an inheritance acts as a cushion. While the children are still taught to learn from their own mistakes and experiences, with money they aren’t worried about their basic needs. But the even more important thing is that these children are also taught financial literacy.
It’s not that they are given the money to do whatever with; they are told from day one that money is hard earned and they need to value it. By the time the inheritance kicks in, the children know exactly what they’ll do with it and how they can continue to grow their parents businesses. This is how generational wealth is created.