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22 Dos and Don’ts of Rich People

22 Dos and Don’ts of Rich People

Rich people are controversial and interesting to talk about. Not necessarily because of the money they earn, but the fact that they are able to create a dream lifestyle achieving more freedom and time for their family, passions, and dreams.

Getting rich doesn’t happen by accident. There are some external factors that influence the process; however, the dos and don’ts in everyday life play a significant role.

Wealthy individuals tend to have many things in common. Here are 20 of them.

1. They set achievable and specific goals.

More than 60% of rich people who took part in a research agreed that they focus on their goals on a daily basis. What’s more, the goals they set themselves are achievable through specific physical actions, so they know exactly what separates them from achieving it.

2. They create to-do lists and review them daily.

To come closer to their goals, rich people spend time creating to-do lists and maintaining them every day. Whatever you want to accomplish, there’s a certain amount of tasks you need to do in order to get there. This is what a rich person makes sure to determine. With that knowledge, they commit to work on it day after day, with no excuses.

3. They take care of their bodies.

To fully focus on their ambitions, they need functional and efficient bodies. Through a healthy diet, regular exercises and treating the body as a temple, they accelerate the progress, stay in shape, avoid laziness and separate themselves from the crowd.

4. They read daily and they love it.

Rich people don’t only feed themselves with healthy food, but they also feed their minds with wisdom and information. Almost 90% of rich questionnaires agreed they love reading. Mostly, it’s self-improvement books and nonfiction, which serve as a great source of inspiration and knowledge.

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5. They listen to audiobooks while commuting.

Instead of blasting pop music while being on the road, rich people listen to audiobooks so the mind is always in the mood for achieving extraordinary results. Let’s say you spend an hour a day in traffic. If you devote it to audiobooks or podcasts, that’s 365 extra hours of self-improvement time in a year.

6. They are the hardest workers in the room.

When asked for the secrets of success, Dwayne Johnson, a man who went from poverty to Hollywood, said there’s no secret sauce. It’s always being the hardest worker in the room which brings you one step closer to making your dreams a reality.

7. They make family life a priority.

A rich person knows best what money can and cannot buy. That’s why they give so much value to the family time, something which they consider priceless. They realize whereas money can always be made, there’s a limited amount of time they can spend with their families. That’s why they make it a priority.

8. They respect their time and spend it wisely.

In a world full of distractions, it’s easy to lose track of your time. It’s something rich people never let happen. They realize, once wasted, the time is gone forever; that’s why it’s such a precious resource for them.

9. They surround themselves with like-minded people.

“You are the average of the five people you spend the most time with.”

—Jim Rohn

Letting naysayers influence your thoughts, actions and bring you down is out of the question for a wealthy person. To protect themselves from negative people, they make sure their surroundings motivate them to further growth.

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10. They pay attention to their habits.

Your habits form who you become. If you eat junk, practice negative talking and spend your time mindlessly, there’s likely no bright future ahead of you. Wealthy individuals select their habits carefully so that they only practice ones that contribute value to their lives.

11. They learn how the world of finances functions.

Nowadays, the right financial knowledge is the key to survive without getting lost in debt and other financial commitments. Rich people devote time to become the financial experts, so in the end, their money works for them and not vice versa.

To radically improve your personal finances, check out this 14-day plan.

12. They don’t believe in financial luck.

Money is made through hard work combined with creativity, market-research, and other factors, but pure lack is definitely not among the most important ones. That’s why wealthy person avoids lotteries and gambling. They still take financial risks, but they are calculated.

13. They don’t spend more than they earn.

If you make $1,000,000 and you spend the same amount, you are still broke. Poor people tend to spend more than they make which is caused by short-term thinking. Wealthy people can extend the gratification in order to stay financially stable and make the future safe.

14. They don’t watch TV.

Television is a huge time-sucker with almost no value added to your life. It leads to a sedentary lifestyle, obesity and increases your chances of type 2 diabetes. Since rich people eliminate bad habits; they make sure to replace TV with more creative sources of entertainment like books.

15. They don’t give anyone responsibility for their lives.

“We are made wise not by the recollection of our past, but by the responsibility for our future.”

—George Bernard

People who can’t achieve anything significant in their lives tend to avoid the responsibility for their future. There’s always some external factor to blame. On the contrary are achievers, who always take the blame and learn from their mistakes.

16. They don’t follow the flow.

Thinking differently is mandatory. There’s no way to achieve extraordinary results through regular actions and ordinary thinking. Rich people aren’t afraid to dream big and break the rules and dogmas to accomplish something.

17. They don’t miss opportunities.

To ensure they squeeze as much as possible from what life throws at them, rich people put themselves in the right place at the right time. They realize some chances are game-changing experiences.

18. They don’t rely on formal education.

Wealthy individuals are life-long learners. They treat self-growth as a never-ending process and they fully enjoy it. Cultivating the mind is achieved through a broad variety of experiences in contrast to relying completely on the schooling system.

19. They don’t let negative thoughts influence their actions.

Negative thinking is especially dangerous when you decide to believe in the excuses and rationalizations. Your brain wants you to stay in the comfort zone, so it will spare no effort to convince you that you can’t. The key to success is to let these thoughts fade away and replace them with powerful reasons to believe in yourself.

20. They don’t say yes all the time.

Saying no at the right moment is a powerful skill which brings health, wealth and happiness. One the other hand, if you practice saying yes way too often, you are more likely to get off the track and waste your time on unnecessary commitments.

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Rich people know there are plenty of things you don’t need to say yes to.

21. They don’t focus entirely on the money.

Oppose to misconceptions, money isn’t what matters the most one the road to getting rich. Using their capital and influence, wealthy individuals want to change the world for better, contribute to the society and simply experience the life like most people can’t.

Bill Gates is once again the wealthiest person on the planet. But he’s also one of the most generous people. He gives back a lot of his money and he decided to donate the majority of his wealth to philanthropic causes when he dies.

22. They don’t give up.

Getting rich isn’t an overnight process. It takes a lot of time and effort to go through the path full of obstacles and failures to finally meet your goals. The key is to stay persistent, practice self-belief and never give up.

Featured photo credit: Silicon Prairie News via flickr.com

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Oskar Nowik

Oskar is a blogger and the author of "Brightening: The Positive Attitude That Will Change Your Life"

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

More About Thinking Smart

Featured photo credit: Austin Distel via unsplash.com

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