9 Habits to Learn from Self-Made Millionaires

9 Habits to Learn from Self-Made Millionaires

9 Habits to Learn from Self-Made Millionaires

  • "Tips and Tricks"
  • Finance

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Self-made millionaires were once regular people with regular incomes, just like you and me. They achieve success and wealth through constant dedication and hard work. We can’t guarantee the tips in this article will make you a millionaire, but they’re healthy and productive habits that can improve your way of life.

1. They’re Well-Read
The key to becoming more successful and skillful is to constantly expand your knowledge base. Millionaires know this, and 85% of them read two or more books every month. Taking the time to read is taking the time to invest in yourself. By looking at millionaires, we can see that reading self-help books, career-focused books, biographies, and books on current events or leadership will set us apart from the competition.

2. They Pursue Their Passion
Millionaires know that if you love what you do, you’ll do it well and you’ll work hard at it. If passion is behind your work, you’re much more likely to find success. From self-made millionaires, we can learn that pursuing your interests is more lucrative in the long run than taking a job for its stability factor.

3. They Start Early
Millionaires start investing and saving at an early age. They understand that the money they save now will only multiply in the future. What can we learn? Now is the perfect time to start consistently putting money away for the future. It doesn’t matter how much or how little, as long as you’re saving.

4. They Have a Mentor
Self-made millionaires know the importance of surrounding themselves with people who are smarter, more experienced, and more knowledgeable than they are. They always seek out multiple perspectives and advice, and often have a mentor who has been where they are and whose opinion they trust. If you know someone who’s accomplishments you admire and aspire to, it might be a good idea to ask them for a little advice, or even to become your mentor.

5. They Value Education
Highly successful people not only value a formal college or university education, but take true pleasure in ongoing learning. They’re always bettering themselves by reading up on the latest innovations or taking courses geared toward new technology or career-specific ideas. If you’re interested in ongoing learning, reading all you can is a good place to start. The Internet is loaded with industry-specific journals and news sources that can always teach you something new.

6. They Set Measurable Goals
Millionaires know that setting abstract, vague goals will never help you accomplish anything. You’re much more likely to achieve your goals if they have real, measurable parts to attain and check off. For example, saying, “I want to save $1,000 this year by putting away $40 every two weeks” is a more attainable goal than saying “I want to save money this year.”

7. They Make Lists
Part of achieving major goals is setting mini-goals along the way in list form. When you write down physical-action steps as a to-do list, you’re more likely to take those steps and get them checked off. Lists are especially helpful if you have a lot on your plate and don’t want to forget anything – another thing millionaires don’t do.

8. They Don’t Waste Time
Most of the time, you won’t catch a millionaire watching television or surfing the web. Every moment of their time is precious and is spent doing something that’ll further them personally or professionally. Sixty seven percent of self-made millionaires watch less than an hour of television every day. The time they save is spent running, reading, traveling, volunteering, or networking. You don’t have to quit time-wasters cold turkey, but curbing the time you watch TV or surf the internet a little each day will free up more time for millionaire habits.

9. They Have Multiple Sources of Income
Most self-made millionaires have at least three separate sources of income that help them earn money every minute of every day. If you want to pick up an extra source of income, you don’t necessarily have to take on another job. Investments, annuities, and royalties all count. However, in today’s gig economy, it’s also easy to start earning money on the side by freelancing or driving for Uber.

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