Whenever people mention the very rich, the first image to immediately come to mind is that of super luxurious homes, fancy cars, or utterly expensive jewelry. That is the image that wealthy people constantly in the limelight want to project, and not necessarily the true image of super rich people who do not have to pose in front of cameras on a regular basis. The multimillionaire in net terms may be your next door neighbor watering his lawn every evening, just like you do. The habits of the very rich can easily be related to by the not so rich, and the one crucial distinction is that discipline guides them in every action or thought and the very rich do not deviate from such discipline.
Habits Of The Rich and Wealthy People Which Make them Stand Out
- Daily routine: The future may be hidden in your daily routine. We are all anxious to improve our circumstances, but we are unwilling to change ourselves. How many of us consider ourselves creatures of habit? Over 90% of the tasks in our daily routine are rooted in habit, and we are extremely reluctant to break these habits, for better or for worse.
- Habits are much more powerful than dreams as they are action oriented. If you have the habits of a thin person, you will stay thin, and the same is true of financial success.
- Your street smarts can be your most valuable friend: In the book The Millionaire Mind written by Thomas Stanley, only 11% of millionaires responded most intellectually gifted and only 10% responded with highest grade point average when asked how they were evaluated by their high school teachers. This is not to say that college degrees are not valuable, only that street smarts can serve a purpose.
- Spend your money wisely and do not make waste: Before they became affluent, some of the very rich would to set up a car fund in the form of an interest bearing account, then would purchase the car in cash, thereby side stepping having to take out a loan and pay interest. Why? They fully understand the awesome magic of compounding. The car purchased would likely be a reliable model, such as a Volvo, and regular maintenance is not to be skipped, as the intention is to keep the car until its usefulness has been exhausted. They simply do not care about keeping up with the Joneses, simply because they know deep down that they ARE the Joneses. The very rich are also very picky consumers, and they will spend money on items they desire, but only after careful consideration. They shop around more than anybody else.
- Spend less than you make: All the things that the Joneses possess were probably acquired using credit, not necessarily from spare funds. Even when coming into an unexpected windfall, the very rich will most likely save half first before splurging with the other half.
- Surround yourself with positive people: Negative thoughts always impede progress, and only positive people can give you ideas that are actionable. Most of us have come up with seemingly revolutionary ideas at some time in our lives. The very rich grab the opportunity and act decisively.
As you can see, these 5 habits can be completely under your control, as long as you make the decision that discipline will be the next rung on your ladder to success.