6 Bad Habits The Rich Avoid
The path to success is not lined with roses. Rather, wealthy individuals reached their current levels of success through gruelling effort from a very young age. Getting rich is as much about avoiding bad habits as it is cultivating good ones, and here are 6 habits you’ll never catch a rich person doing:
1. Spending Over Their Budget
Doucefleur/Shutterstock: spending according to your budget is a wise approach
Accumulating wealth is the easy part – sustaining it is harder. This is why you will realize that many who worked their way up to their success used to be or still are extremely frugal. This is not to say they are miserly; they simply draw up a budget and stick to it strictly. Most budgets are split into mortgage, essentials, loan repayments, and savings. Of course, some money is put aside for entertainment and splurging on luxuries, and some choose to invest their leftover income.
Nelli Syrotynska/Shutterstock: Avoiding oversleep can help boost productivity
If you closely observe your colleagues who occupy in top leadership positions, you will realize one thing most of them have in common: they are always either early for work or on time – never late.
Tom Corley, author of ‘Rich Habits’, found that the rich usually begin their workday almost three hours before they are expected to. This gives them loads of extra time to plan out their schedules, perfect presentations and reports, and even work on extra projects. Punctuality combined with a strong work ethic paint a picture of a responsible, passionate employee who will scale the corporate ladder sooner than his or her peers.
Furthermore, Corley found that the rich tend to have extremely clean sleeping habits, with the majority of those surveyed heading to bed between 9 PM and 10 PM, and getting up to eight hours of sleep per day.
3. Failing To Read
fizkes/Shutterstock: Adding value by reading good content
The world today is hooked on binging culture – almost everyone has a streaming subscription and most are lulled to sleep by whichever television program they are currently addicted to. Not the wealthy, however, the majority of whom, according to Corley, put aside at least half an hour a day to read.
Reading enriches your vocabulary and expands your knowledge in a wide variety of fields. It enhances your appreciation for history and culture, and in general, improves your ability to focus.
4. Hating Your Work
The first step to excelling at work is to enjoy your work. Corley found that 88% of the successful enjoy their jobs. Those who find their occupation tedious will never be able to invest the same level of dedication and creativity as those who genuinely love it. When you enjoy your work, you are constantly motivated to come up with new ideas to improve your projects and to give each effort your best shot. These behaviors will not go unnoticed by your superiors, who will think of you first for raises and promotions.
5. Avoiding Investment
Passive income is an important, oft-neglected source of income. While it may be daunting to risk your hard-earned money, seeking wise, timely investment opportunities can provide you with a steady stream of income that will accumulate significantly over the years. Do not attempt to figure out the stock markets blindly – instead, turn to a trusted financial advisor who can set you up with a venture suited to your income and interests.
6. Neglecting Your Health
You may think that the key to success is working hours that are too long and pushing your body and mind to their limits. However, the rich know that this is not the case. In order to put your best foot forward each day – to be at your best and brightest at work, and minimize time wasted in the form of sick leave – it is vital to look after your mental and physical well being. Many successful people carve out time from their busy schedules to exercise and try and maintain healthy diets.
Ultimately, it is impossible to effect change overnight and you should not attempt to do so. If you identify with any of the bad habits listed here, fret not – you have plenty of time to make amends. Small steps in the right direction go a long way, so waste no more time in steering your life towards the path for success.
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