The most important habits for more money which you should start implementing today!
You wonder what you have to do or change to get rich? Rich and financially free people have made no fortune watching TV or buying unimportant stuff. The basis is to change your thinking and habits. Yes, there are special habits for more money and to become rich.
I have collected the most important of these habits and things that you need to implement, ideally right now, for you here.
Reading is an investment in you, your education, your brains and thus in your wealth accumulation, your career, your independence. I even think it so important that I strongly advise you to make your education an integral part of your financial and life planning. It is just as important an asset like stocks and cash on the money market account. You’re not supposed to read finance books all day. Other super interesting topics are, for example, mindfulness, biographies, gender, philosophy or psychology. The broader, the better! By the way: Warren Buffet spends 80% of his time reading. For him, it is more than just a habit for more money, but the basis.
Make sure you surround yourself with successful people. You only progress when you learn from the best. Look for habits, communication, strategies, and goals from those you admire. Do you want to become a successful entrepreneur? Do an internship as a Personal Assistant for businesses you love. To start a business you have to learn a business. You have to be as close as possible. Follow them every step of the way, writing, reflecting, absorbing, learning, internalizing. It’s also great to have a mentor to meet you regularly to reflect and get feedback and tips from someone who knows how to do it.
I hate to say it and actually you know it too. Your TV is evil. Not only that actually only nonsense comes (except, of course, science broadcasts and reports from special interest stations) but it also robs you so much valuable time. Try to skip your TV for two weeks. Bring the cable into the basement, let your best friend hide the remote or, best of all, sell the box! Instead, grab a book collection that really interests you. Nobody has been able to make money out of telly, so no-TV is one of those habits for more money.
You must, have to invest your money instead of letting it melt on the account. On a checking account, you will not receive any interest. your hard-earned money is eaten up by inflation. So if you do not just multiply your money but just do not lose it and you do not want to end up in old age poverty, you have to become active and invest. By that, I do not mean shares in individual companies – because this is too expensive and risky – but by passive investing in ETFs.
Focus on what is important to you and set your priorities accordingly. Your budget book tells you your budget for going out is already reached and you really want to read rather than going to the disgusting smoker’s pub? Then do that! It’s okay to say “I’m up to something.” Or “No, do not feel like going out today …”. Your friends will understand that.
I’m not saying that you should break off all social contacts, no way! But it is ok to give it up when it suits you better. You know, the four components of financial independence are: investing money, saving more, earning more, making money work. You have a lot on the pan and you have to be focused and internalize your plan. With every purchase, your thought must be, “Do I really need that?”. Ask yourself this question and spend your money accordingly.
This is the most important one. You need goals. Otherwise, you will distract yourself from achieving more, you’ll get comfortable at your 9-5 Job, sleeping late, etc. You really need to ask yourself daily What is your dream? Are you ready to go for the “extra mile”? More time for your children? The world Tour? It could be anything, Define your goals and write them down. All that you have just read will end up paying for those goals. You have to be ready to do something and you’ll enjoy it because you can do something, take responsibility and quickly see the progress.
For many entrepreneurs, achieving new habits seems like a challenge. but you have to believe that with these new habits, the end result are going to be beneficial for your overall career. you have to change things up for better wealth and more success.
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