I consume a lot of motivational and financial content! I absorb it like a sponge listening and watching it all day. So I sit here wanting to share at least what I think is 5 of the most important habits rich people share.
Now some of these things don't directly relate to you becoming rich and making money but are habits that rich people have acquired to assist them on their financial journey. Getting rich and becoming wealthy is not all about how much money you can make and how to multiply it! It also comes down to your wellbeing and physical health.
Why you may ask?
Well part of being rich and wealthy is all about being able to perform at your peak day in and day out. It is the ability to promote creativity and happiness which is what these 5 habits below can do! I have left what I think is the most important habit at the end!
As the great Albert Einstein once said:
"Once you stop learning, you start dying"
And I believe everyone needs to live by this philosophy. This meaning to make sure everyday you learn, grow or get better at something everyday. Whether it be big or small, just has to be something. By learning and growing everyday you are investing in the most important thing in life, yourself.
The rich and wealthy live by this. They constantly look to grow, learn, read and seek experts knowledge! Arguably the greatest investor of all time Warren Buffet was said to read 500-1000 pages a day when he first began he's career. Still till this day it is said he makes sure he reads everyday at the age of 89!
However in modern days learning has gone much further from just words on pages. Content can be consumed also by watching. As it is well known not everyone learns the same way. Many people do not like reading but that is not an excuse not to learn. There are hours on hours of quality content published on platforms such as YouTube. This platform alone can teach you a colossal of things that not only relate to just finance.
Yes, I know we are not a fitness blog. But the importance of exercise can not be understated. Wealthy and rich people know the importance of staying healthy and exercising. I won't elaborate too much on this point as it is not directly related to finance but its importance should still be recognised.
Exercising regularly improves your mental health, moods, reduces risks of diseases such as heart disease, regulates sleep patterns and strengthens muscles and bones. Just to name a few!
Now exercising creates a feel good aura around your mental health. Which is the utmost important thing when it comes to decision making and productivity. Two major things rich people have mastered! Feeling good about yourself and your self-confidence can not only help you in your financial journey but it is guaranteed to give you a much better quality of life!
Setting Long Term and Short Term Goals
"A man without a purpose is like a ship without a rudder." -Thomas Carlyle
This quote cannot sum it up anymore. You NEED to be setting goals, both long term and short term. If you have no direction in life or in your financial journey you will find yourself getting stuck in society norms, following the crowds and settling for average.
Someone who sets goals is much more likely to say they have achieved more over a certain time span than someone who doesn't.
The rich and wealthy are ALWAYS setting goals. Whether they have it written down or just know for themselves, they have a direction and something they work towards. And when they achieve it, do they kick back and celebrate?
They sit back down and set another goal to chase after. Goal setting is crucial for any financial journey. It increases the chance of overall success and plays a huge role in motivating an individual in all aspects in life, it does not just have to be financial!
It is important to set both a short term goal as well as long term goals. More often than not your short term goals can be stepping stones to your long term goals. By setting short term goals you big long term goals can be made much more achievable.
Regular Sleep Patterns
Im the first one to say. I am no expert in this field let alone any field. So I will not be saying things like
"Optimum productivity is during 7am-10am after a full 8 hours of sleep!"
All I can comfortably say is that like regular exercise a regular sleep pattern comes along with an abundance of benefits. Regular sleep patterns and sufficient amounts of sleep lead to:
- Improved memory
- Improved mental sharpness
- Improved mood and happiness
- Improved energy levels
Just to name a few.
Now theres no need to write much further about how this can help in a financial aspect. The rich and the wealthy know how to manage their sleep in order to get the best quality of life. They know that if they get sufficient amounts of sleep their productivity will be heightened along with their motivation, drive and happiness.
With this, a regular sleep pattern helps the quality of sleep as well as the productivity of your day. Your body will thank you for sleeping the same time everyday as it knows when to shutdown and repair.
You also then develop a set wake up time. Hence no lounging around in bed all day wasting all the time in the world. Instead this time rich people use to LEARN, GROW and IMPROVE. Steve Harvey once said:
"Rich people don't sleep 8 hours a day"
The more you work the quicker you will achieve your goals!
In my opinion. Discipline is the golden key to being rich and wealthy!
"Discipline is the bridge between goals and accomplishment"- Jim Rohn
It cannot be underplayed anymore. Discipline is the ability to stick to your goals and a routine. Now the rich and the wealthy would be no where if it was not for discipline.
In particular wealth built from long term investing. Discipline is essential. Rich people are able to stay disciplined enough to invest a portion of their income regularly. They are actively disciplined enough to do this in order to build their wealth. They do not give into impulse buying or exuberant spending habits.
This also can tie into regular sleep patterns and exercise as mentioned above. They can mentally discipline themselves to go to bed at a certain time every night as well as exercising on a regular basis.
Discipline is all about holding yourself to the highest standard and maintaining it.
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