Last updated in November 2020
Adopt the habits of self-made millionaires and be successful. There is something that distinguishes successful people such as self-made millionaires from others. Have you ever wished you could become more like them?
The good news is that everyone can adopt the habits of self-made millionaires and become successful. Whether you actually want to become a millionaire or not, these habits will help you lead a happier and more satisfying life.
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Table of Contents
10 habits of self-made millionaires
Reading is important to broaden your horizon and for education. Thus, self-made millionaires have a never-ending reading list. They also set time aside to read every day. Even if this is only ten minutes every day before going to sleep.
One of the habits of self-made millionaires is to read books about a range of subjects, especially non-fiction. If you want to copy the habits of self-made millionaires, you may wish to start with these books:
Alternatively, you may enjoy listening to financial independence podcasts.
Surround themselves with like-minded people
Self-made millionaires surround themselves with other successful people. People that inspire them to aim higher and support them during tough times. People that are open minded and positive. This is important because we tend to adapt to the environment around us and the people surrounding us shape who we are.
Self-made millionaires refrain from taking anything for granted. They are grateful for many things, including their
Habits of self-made millionaires – Invest
Self-made millionaires know that investing a small amount in the present can lead to a great payoff in the future. There are two ways self-made millionaires leverage the power of investing:
- They invest their money
- They invest in themselves
Investing money smartly is one of the key habits of self-made millionaires. Importantly, they know how to tell apart good and bad investments. Thus, they say ‘no’ to risky and obscure investments such as bitcoin or antiques. Instead, self-made millionaires do their research and invest in well-chosen stocks or funds.
Self-made millionaires also know the importance of using low-fee brokers. High-fees eat into your investments and can lead to a substantial loss of money. Personally, I am using Freetrade, a free app that allows its users to buy stocks at no cost. You can get a free mystery share if you sign-up via my link and make a deposit of £2 or more.
Investing in yourself is equally important as investing your money. Investing in yourself can mean taking a course, completing a university degree or learning a new language.
Treat others with respect
There are many habits of self-made millionaires but treating others with respect is crucial. Self-made millionaires do not feel superior to others. They understand that everybody has their own circumstances.
Exercise is important to keep your body in shape. Self-made millionaires know that staying healthy is a must for success. When you are working hard, it is easy to sit at your desk all day. However, self-made millionaires intentionally make time for exercise.
Apart from physical health, exercise also has a range of benefits for the mind. It gives you the opportunity to take time out and relax. De-stressing is important for self-made millionaires as it prevents burnout and recharges your mind.
Habits of self-made millionaires – Set goals
Self-made millionaires have goals that are
- clearly defined
- have a deadline
This is what sets them apart from other people. Most people fail to properly define their goal and thus never reach it.
|Poorly defined goal||Well-defined goal|
|Lose weight||Lose 1kg in 30 days by exercising |
one hour per day
Self-made millionaires invest time in goal planning. Rather than making half-hearted New Year’s resolutions, they are fully committed to reaching their goals.
Never give up
Failure is inevitable and part of life. Nobody can be successful at everything on the first try. Self-made millionaires know this. However, for them, failure is part of the plan rather than the end of it.
Instead of giving up, self-made millionaires analyse their failures and learn from their mistakes. This means they always try again. After each mistake, self-made millionaires change their approach until they succeed.
Self-made millionaires never shy back from helping others. There are a number of benefits you can gain from helping others:
- You feel good about yourself
- Others are likely to return the favour and may help you when you least expect it
- You feel more confident
Self-made millionaires know that helping others means joining the fast track to success. But they still help others for the sake of helping, without thinking about the benefits.
Self-made millionaires are not mindless consumers. They lead instead of follow and, therefore, have no need to buy fast fashion and technology. As they are not weighed down by their possessions, self-made millionaires can live their lives more freely.
Living frugally means appreciating what you already have and knowing when to save. Valuing your possessions means you reuse and repair as much as you can. Thus, you will naturally feel happier as you appreciate your belongings more.
Believe in your success
Self-made millionaires believe in themselves. They are convinced that their goals will become reality and they act like there is an absolute certainty. This enables them to manifest money and be successful in whatever they do
Habits of self-made millionaires summary
There are a few traits that most self-made millionaires have in common. And this is no coincidence. Self-made millionaires have a different approach to life. However, you can learn to become more like them and be successful yourself. Some of the habits of self-made millionaires are that they
- Surround themselves with like-minded people
- Practice gratitude
- Treat others with respect
- Set goals
- Never give up
- Help others
- Live frugally
- Believe in your success
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