Mastering your money can come down to establishing a few smart habits!
After all, “habits are the cause of wealth, poverty, happiness, sadness, stress, good relationships, bad relationships, good health, or bad health,” writes Thomas C. Corley in “Change Your Habits, Change Your Life,” a culmination of his research on hundreds of self-made millionaires.
We shortlisted simple money habits you can adopt today that will help make 2017 a more lucrative year:
- Come up with specific money goals
The number one reason most people don’t get what they want is that they don’t know what they want. Wealthy people are totally clear that they want wealth.
To reach that level of clarity, writing down goals for your annual income and net worth is advisable. Like all goal-setting, be realistic, but don’t be afraid to challenge yourself. After all, the wealthiest people aren’t afraid to think big.
- Surround yourself with succesful high-earners
Who you hang out with matters more than you may think. In fact, your net worth tends to mirror that of your closest friends.
Successful people generally agree that consciousness is contagious, and that exposure to people who are more successful has the potential to expand your thinking and catapult your income, We become like the people we associate with, and that’s why winners are attracted to winners.”
- Track your spending
You can’t build wealth if more money is leaving your wallet than coming in. To ensure you’re earning more than you’re spending, track your daily expenses.
There are a handful of apps that will help you do this or you can also use a spreadsheet on your computer or simply record your everyday purchases in a notebook or on your phone.
- Set your alarm clock earlier
In addition to tracking, wealthy people tend to wake up early. Self-made billionaires Richard Branson and Jack Dorsey start their days at 5:00 a.m., and they’re far from the only successful people to get up before the sun.
In a five-year study of hundreds of self-made millionaires, author Thomas C. Corley found that nearly 50 percent of them woke up at least three hours before their work day actually began.
- Spend 30 mins a day for reading
Rich people tend to read. They continue to teach and invest in themselves long after formal education is over. “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful,” Siebold writes.
If it works for the millionaires and billionaires, it could work for you.
- Focus on your passion and work on it
If you let 2016 pass by being a passive worker who take orders and look directly onto others’ business, then it is now time to divert your attention to yourself and on what you’ve got. Start focusing on your passion and work on it bit by bit until you hit your target.
As the source says, the one you are obsessed about is the best thing and the real key to your success. Hence, you have to start practicing your passion and building up your future with such. As the Entrepreneur say, a lasting wealth is beyond the finances.
- Get healthy
It may sound a little clichéd, but it is actually true: health is wealth. You can have all of the money in the world, but if you are sick, or dead, you can’t enjoy it. As much as you work and as hard as you work, don’t forget to focus on your health, your body and your mental well-being.