Rich people habits you can build today

How do the rich spend their time and do rich people habits exist? Time to investigate the fuzzy matter of making money and habits of the rich and poor.

The “I deserve this trap”

You just came home after an exhausting day at work. You’re tired, hungry and need to relax a bit. Next thing you know, you are eating pizza and just watched three episodes of Married at first sight. But I deserved that! While that’s occasionally okay (I am trying to convince myself here), this isn’t a healthy habit. If I watch 90 minutes of TV each day well at the end of the year I spent 22,8 entire days watching couples getting married at first sight. Pretty sad, considering I could have used that time to become an expert in something.

How do the rich manage their time?

Well… it’s simple. One day has 1440 minutes and both the rich and poor are on equal footing when it comes to time. According to Thomas Corley both groups use about 1200 of those daily minutes in the following activities: work, driving around, family-related activities, grooming, sleeping, eating, personal hygiene, and getting dressed. That leaves us with 240 minutes to do other things. So how do the wealthy spend those hours?

  • 82% do 60 minutes of dream-setting activities (building their dream)
  • 77% engaged in 60 minutes of self education activities (learning new things)
  • 95% practice 30 minutes of aerobic exercise
  • 89% of the rich devote 30 minutes to building rich relationships (networking)

So from now on spend one hour every day to work on your dream, use 60 minutes to learn something new, go out and do 30 minutes of sport and spend 30 minutes to build and strengthen your relationships.

Rich people habits

So what are the habits of self-made millionaires?┬áTo find out check out Thomas Corley’s five-year study of more than 200 successful self-made entrepreneurs. After five years studying the lives of both rich and poor people, he managed to define “rich habits” and “poor habits“. Wealthy people seem to do things, think and act differently. The rich use their time differently and have different habits. Now it’s not a problem to have some of the poor people’s habits, but the key is to have more than 50% rich habits. Corley defined:

  • the rich as people who have an annual income of over $160000 and a liquid net worth of more than $3.2 million.
  • the poor who have an annual income of $35000 or less and a liquid net worth of $5000 or less.

Rich people habits

So let’s have a look at some of those rich people habits.

Rich people always keep their goals in sight.

“I focus on my goals every day.”

  • Rich people who agree: 62%
  • Poor people who agree 6%

The rich people set annual and monthly goals and 67% of them put these goals in writing.

They know what needs to be done.

“I maintain a daily to-do list.”

  • Rich people who agree: 82%
  • Poor people who agree 19%

The rich not only keep to-do lists, but 67% of them complete 70% or more of the daily listed tasks.

The rich don’t watch TV.

“I watch TV one hour or less per day.”

  • Rich people who agree: 67%
  • Poor people who agree 23%

Just for you all to know only 6% of the rich watch reality shows compared to 78% of the poor. (insert expletive! I should stop watching Married at First Sight!)

The wealthy read.

“I love reading.”

  • Rich people who agree: 86%
  • Poor people who agree 26%

The rich prefer self-improvement books (nonfiction).

The rich love audio books.

“I listen to audio books during the commute to work.”

  • Rich people who agree: 63%
  • Poor people who agree: 5%

So tomorrow when you drive to work, make sure you have downloaded something you want to listen to. Use those minutes you are stuck in traffic well!

The rich make a point of going above and beyond at the office

“I do more than my job requires.”

  • Rich people who agree: 81%
  • Poor people who agree: 17%

86% of the rich (compared to the poor) work an average of 50 or more hours a week and only 6% of those found themselves unhappy because of work.

You are never going to win the jackpot.

“I play the lottery regularly.”

  • Rich people who agree: 6%
  • Poor people who agree: 77%

They try to control their waistline.

“I control calories every day.”

  • Rich people who agree: 57%
  • Poor people who agree: 5%

Wealthy people for some reason or other seem to value their health more.

Wealthy people take care of their teeth.

“I floss every day.”

  • Rich people who agree: 62%
  • Poor people who agree: 16%

Your daily habits are the reason you are rich or poor. To become rich you will have to start doing things differently, change your mindset and develop rich people habits. So now pick one of the habits above, check out the 5-step habit loop, and start building those habits!

Listen to The Daily Habits of Rich People with Tom Corley on Radical Personal Finance (Source)

By Haroun Cherif (CUTESolutions Online manager)

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