6 Simple habits of self-made Millionaires you can start with today
While many millionaires live in lavish, sprawling mansions in some of the world’s most expensive areas, there are a few self-made millionaires that prefer to live the quiet life. Take Warren Buffett, who is estimated to have $87 billion net worth. But this particular billionaire, lives in a quiet Omaha home which he bought in 1958 for $31,500 and is well-known for his frugal habits.
Whether you’re a millionaire already, or you’re looking to live the luxury life before you make the status, here are a few simple daily habits of successful people YOU can start with today.
1. ReadingAccording to The Millionaire Next Door, a book my Thomas Stanley, the average millionaire is said to read at least one non-fiction book a month, due to their keen desire to learn. With the millionaire-status often coming as a result of an individual’s attitude in the face of vulnerability and challenge, reading can provide an individual with an insight into new areas of life. Reading non-fiction books can help to build knowledge about new things that the millionaire may have never have even had an interest before. Whether you're a fan of reading non-fiction or fiction books, if you pick up this simple habit of a millionaire, you’ll be well on your way to reaching the status yourself.
2. BudgetingDespite having a lot of money as a millionaire, one way to remain with your fortune in tow is through budgeting. Just like building a house, you must lay down the foundations first and the same goes for building up wealth. Even if the wealth has already reached a high level, knowing what comes in and out of the account each and every month is key. Whether you are still building up your budget or you’re rocking a VIP status already, knowing how to manage your money effectively is imperative, and a simple habit of a millionaire.
3. GivingThere are some rich people who will continue to keep their funds for themselves, but there are a great number who also spend a lot of time and money giving to worthy causes. Whether it comes to tithing at church, providing financial aid to a meaningful charity or cause such as a natural disaster in a far-off country, or even just giving to family and friends, there are plenty of different ways to give. For many, while they may be budgeting to maintain their wealth, some will also want to ensure that they are leaving a legacy for the ones around them. Living a modest lifestyle is sometimes what helps a millionaire to stay successful when it comes to their money, and for many being able to provide additional help to those around them can provide a little self-worth.
4. HobbiesMany millionaires will have their own personal hobbies, whether that’s attending yoga classes, sailing, baking, hand-crafts or even playing online Bingo. there are a huge number of different options to choose from. Being a millionaire often means that these individuals don’t have to work, but in order to keep topping up their wealth, many choose to. Alternatively, they will own their own business and will keep busy keeping a close eye on this. Having a hobby is an important trait in order to ensure that the body is relaxed and an individual is enjoying their own interests, alongside their work.
5. Seek FeedbackKnowing who to seek feedback from, and how to deal with this information is a key to success. Seeking constructive feedback from your peers and from your workplace rivals can allow you to be aware of a particular tendency which may be blocking you from achieving success and can also help you to see from another person’s perspective. It is important to not get defensive in this situation too – the majority of the time, this information is designed to help you improve. This is the same in the bingo room – a fellow player may be providing constructive feedback on your money management strategy in order to help you improve, so make sure you take this without fighting back. Mark Zuckerberg is the ideal example with this, as he will hold a weekly meeting with all of his employees and encourages an open environment to discuss problems and successes with certain products and services. This can allow the team to then look into the problems that others have found, and act upon this in order to further improve the product.
6. Hang Out With Other Successful PeopleIn order to pick up some of these tips and tricks to help you act like a millionaire, you should attempt to become part of the social circle of the people that you want to be like. This will not only allow you to realise that your dreams can become a reality, but you will also begin to pick up habits and the mindset of those who have already achieved what you’re looking to achieve. Head out for a coffee, join a networking event, and simply befriend those around you who have hit the status you are looking to enjoy in the near future. There’s a reason why many of the millionaires around the world sit within the same social circles!
Making sure that you seize every opportunity is the biggest habit of a millionaire, and it is one that you should integrate into your lifestyle in order to succeed. Picking up a few of the simple habits listed above could help to see you push above and beyond those around you to achieve success in your niche.