10 Habits of the WealthyWhen you think of the term ‘wealthy,’ what do you think about?

My definition of wealth does not necessarily mean a lot of money; it means the ability to fully experience life (as Henry David Thoreau says) with the resources I need to do so. That could mean having the money I need or simply being able to leverage someone else’s money or resources.

For instance, I used to want to own a yacht but then I thought about it. Why own it when all I really want is access to one whenever I want??? That means I can rent it and don’t have to worry about the cost of upkeep. Let someone else handle those costs!

Bazinga! 🙂

Sometimes I think about how the wealthy got their wealth AND how they maintain their wealth.

And then I think about the stories of those who are mega wealthy and realize that a lot of them created a way out of no way by establishing simple (though not always easy) habits.

For instance, I doubt if Oprah watches 25 hours of TV every week and I doubt if Steve Jobs sat around NOT creating new ideas because of what he thought people would say about him. I do bet they were hustlers though – in the sense that they go after what they want with determination and fervor.

So what’s the difference between them and me? Why haven’t I reached the level of wealth I desire yet?

Well, I’m finding it could be because I haven’t yet FULLY developed the success habits of the wealthy!

Yeah, I do things here and there that allows me to bring in some moolah and accumulate assets but I certainly have a ways to go.

So check out these 10 habits the self-made wealthy have and let’s all work towards whatever our wealth goals are a lot faster!

Adopting 10 Habits of the Wealthy

If you think about it, your life is largely the result of your habits. Your waistline is a result of your diet and exercise habits. A neat and uncluttered home is the result of a habit of picking up after yourself.  

Likewise, your money habits may or may not be conducive to building wealth. Do you have these habits?

  1. Know what assets really are. The traditional definition of an asset is anything you own that has some monetary value. So you’d think, “Cool, my car and big screen TV are assets!” Well, not as it relates to wealth creation. To someone who has wealth, an asset puts money into your bank account. Your car does not meet this requirement. Think stocks, bonds, real estate, businesses, and other investments of the like. Focus on buying assets instead of buying ‘stuff’.
  2. Personal growth and continuing education. Rather than watching TV or playing games every night, wealthy people are more likely to read a book about self-development or spend their free time learning how to be more valuable. Takeaway: If you want to be wealthy, regularly spend time becoming a better version of yourself.
  3. Creating value. The more value you create, the more you can expect to get in return for that value. Wealthy people create value and then charge for it. Those that aren’t wealthy are usually more focused on extracting value. The average person wonders how he can take a bite out of someone or something else.
  4. Don’t be the smartest in the group. Find and network with people who are smarter than you and have complementary capabilities.
  5. Surround yourself with like-minded and positive people. I think you’ll agree with me that wealthy people hang out with other wealthy people. Hanging around people who are positive, driven, and are working towards (or already have) a wealthy mindset can get you very far. So where y’all at so we can hang! 🙂
  6. As Mark Twain once said, “Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great.” ‘Nuff said!
  7. Find better deals. I for one don’t like paying retail for stuff, unless I really really really really want it. Best believe though I probably already tried to find a good deal first. LOL Yes, this could mean clipping coupons but it could also mean to use your network, do your research and due diligence to find great pricing on items, and don’t make impulsive buying decisions.
  8. Being paid for results, not for your time. Don’t trade your time in exchange for payment (except in the case of a job; in a job, you trade time for money but that’s until you can do differently if you so desire). If you have faith in your ability, you’d rather be paid based on results, which can put your income into the unlimited realm. This is particularly important for entrepreneurs. For instance, when I create a proposal to my clients, it shouldn’t matter if the job will only take 10 minutes. If it will produce big results, I should be paid big bucks! This is a lesson I had to learn the hard way.
  9. Know that wealth is a result. It’s a matter of cause and effect and consistently practicing good habits. Average people are waiting for lightning to strike (or to win the lottery). They believe that wealth is something that happens to the lucky few but the wealthy believe in making their own luck.
  10. Never give up. Do you try something once and then decide it will never work? The wealthy person keeps going. They’ll likely keep altering their approach until it works, but most importantly, they keep on going. If you give up easily, you vastly lower your chance of success.

So I’m definitely going to be working more on these success habits to achieve my idea of wealthy. What about you? What other wealthy habits can you share?

Wassuper, it's yo girl, Kesha and I believe we should Be the Fruit Loop in a world full of Cheerios because life is more interesting when you dare to be different and challenge what's "normal!" I am wildly passionate about helping highly driven women pursue fantabulous relationships, juicytastic careers/bizzes, and authentically inspired lives.
10 Habits of the Wealthy…Do You Have Them?

Must Reads:

  • EXCELLENT post Kesha! I am finding more and more that it is all about the mindset you choose to have.

    Each, and every one of us has a choice to succeed or not. Sure some people are born into situations that provide various advantages, but there are countless stories of those who rose to do great things that started from nothing.

    Thank you again for sharing these thoughts.

    • Yep Kevin, despite circumstances, we still have a choice to try to be and do our best. By learning strategies like the ones above, we can have the advantage!

      I’m surely one of those people who was raised in an environment that are indicators of being a “statistic” – raised by a single mom, low income, lived in the projects, surrounded by negativity and violence – and I’ve persevered. Now I’m working to make it even farther so that the next generation (my niece and nephew) has even greater advantages and opportunities! 🙂

  • These rock! I really believe that the wealthy are wealthy due to giving value to others. That is the one that I do my best with. These are awesome reminders 🙂

    • Interesting that you say that Lisa. I just listened to my girl’s TED talk where she talked about “caring more, fearing less” and how that can help us become better people (and ultimately wealthy if that’s our goal). Definitely giving value is a good way to go about gaining wealth and you do that for realz chica! 🙂

      • Aww, thanks and right back at ya! xoxo

  • michael gagariga

    Never thought about focusing more on results than time. always believed if I couuld finish a job quickly, I could move on to other tasks. Will change my approach. Decent read.

    • Thanks Michael for stopping through and I wish you the best in your new approach. 🙂

  • Awesome points here Kesha! Number . Is the one that really resonated with me the most. Definitely locking that one away! Thanks for sharing!

    • No problem chica and glad you have a take away to do something with. 🙂

  • Love #8. I asked a friend once who got paid a ridiculously high amount of money at a pretty laid back job how was that so, and he said he got paid for what he knew not how much time he spent doing it, since his employer relied on his skill set in the case of emergencies.

    Sometimes we undervalue ourselves. I work with budgets and am flexible to pay someone more money, but they usually don’t ask for it!

    • Ahhh see, somebody is missing out on their money! You can gone head and give it to me instead. LOL

  • Yes, it is about a mindset, dedication, a change in old habits, and creating a network! Great tips Kesha!

    Ang 🙂

    • Thanks so much Ang for stopping through chica! *hugs*

  • Aja @makinglovinthemicrowave

    The one that I have really not been doing is #8. Usually I think about how much time a certain project will take me and charge hourly. Thanks for getting me to think about things in a new way!

    • No problem Aja! You’ll have a whole new thought process when you think about what you are REALLY charging for – your expertise!

  • According to the list I’m on track for being wealthy … just keeping my focus on #10. Most people get excited over the persons final story, their final results. they become focused on asking what the wealthy person has, when the question they should be asking is how did they get there. They’d find out that it is not luck at all that made them successful but the idea of never giving up. Tweaking their plan until it came to be a reality. Hearing about a person’s journey to wealth may give us tips or insight on how to get us there faster as well. Let’s get it Kesha, I’m in CT!

    • Great Arelis, now you can gone ‘head and let me borrow some of your wealth. 😉 Ha ha!

      And yes let’s get it girl!

  • DeAndre Taylor

    Well stated! I love those 10 powerful habits. I am one that believes we all define who we are. What you do today impacts your tomorrow. Great article!!!

    • Thanks cuz for stopping through and sharing your thoughts! Now, let’s get wealthy together! 🙂

credo-thumb

Join the Escape Mob + Get The Escape Normal Credo

 

Get on the list with your fellow Escape Mob'ers and grab your copy of the Escape Normal Credo PLUS you'll be automatically entered in the monthly drawing for cool freebies just to show my appreciation of you being a part of the crew so come on aboard!

 

#iEscapeNormal

redirect=http://uncommonchick.com/escape-mob-ty/