The daily habits of any person are very crucial in building the character of any person. If you own a set of good habits, you will turn out to be successful in life in terms of the financial, spiritual, and social aspects of your life. Similarly, bad habits can not only create issues in your life but can also ruin your life if they are not be changed in time. Here, we are going to discuss how financial habits differentiate a rich person from a poor. It is wise to know the importance of money and inculcate good financial habits in life.
Today you are what you aspired to be yesterday
Just think about your current status in society. If you are a doctor, engineer, personal lawyer, or business tycoon, then more than likely you’re in the position owing to your personal habits. You decided to focus on your academics at the time of your college when your friends were out partying in college. Well! Apart from study, there are so many other consistent operations that really make a difference. These small steps put in daily life separate the wealthy and the poor.
What says the research data?
Research done on habits of people reveals the reason why some people are rich or poor. Roughly 40%-60% of all our daily activities are called daily habits. This research data is good for those with a positive mindsets and good daily habits, however bad for those with poor habits.
Habits of wealthy people
#1 Self-awareness- Rich people ask themselves at which stage they lie in their life. They decide their starting point and then start bringing change in their life according to the need. Self-awareness of rich people isn’t about financial habits, it can include family, health, busines, and career.
#2 Set goals
Rich people understand their from where they are starting from, and they develop a plan of action accordingly. This way, they are able to create a clear vision of what they want to achieve in life.
According to the research, 80% of wealthy people devote their time to accomplishing a single goal.
#Exercise and healthy eating habits
The research says, around 70% of the rich people eat fewer junk food calories daily
97% of the poor people eat more junk-food calories daily
76% of wealthy people exercise atleast 4 days a week.
#Create to-do list
Not everything is bad to be organized, but if you dream to be healthy, you need to change your ways to reach that point. Most wealthy people create daily to-do goals to keep them organized the whole day. As per the research, 81% of wealthy people maintain a to-do list.
#Regular reading
According to the research, 88% of the wealthy read 30 minutes or more daily for self-improvement, however, the percentage of poor people reading on a daily basis is only 2%. Everything you want to improve in your life is found in books, and keeping a good daily reading habit gives the right direction to become wealthy.
#Wealthy don’t work for money
Poor work from paycheck to paycheck, however wealthy people devote their time in wise investment of their time in gaining skills, and money in gaining wealth.
#Wealthy know how to manage their finances
The number of people getting learning of how to manage their money is very less. Ever since our school days, we are taught to go to school and get a job that will give us money in return. Our educational system is heavily lacking in terms of teaching kids about financial management.
Poor work for money
Poor people work for money due to fear of job loss. They think if they will not get paid, it will leave them vulnerable, as they don’t have a backup plan. This fear keeps them stick to the same job from where they have started.
Gamble
The research says around 52% of poor people gambled on sports, and 77% played the lottery on weekly basis. 84% of rich people never bet on sports, and 94% of wealthy people never played the lottery.
Sleep late-Poor people sleep late at night than wealthy people, and they go to their work either late or on time. In the contrary, wealthy people wake up three hours before going to work.
Poor avoid change, neglect the importance of money, make impulsive financial decisions, they believe in using saving account instead of investing in real estate or the stock market and even they don’t know what they want.
Comments