I have always been intrigued by the habits of millionaires and I wonder what they do that makes them different from the rest of us. On my quest to uncover their secrets, I have come across numerous articles that describe some of those habits. Today’s blog will discuss the first 5 habits discussed in 10 Daily Habits That Will Make You a Millionaire by Daniel Ally found at (http://www.entrepreneur.com/article/247919). Next week’s blog will discuss the last five habits in the article.
We all know that discipline is key to so many rewards. Just think about it. Discipline is key to losing weight, running a marathon, completing a degree, reaching financial independence, etc. Without discipline, it will be difficult to face many challenges.
Habit #1: Studying – How many of you graduated from school and said, “That’s it. I will never have to study again,” but you quickly realized that wasn’t quite true? Learning should be lifelong endeavor. If we aren’t learning, we aren’t growing. What happens when something stops growing? Well, we all know the answer. Make it a daily habit to learn something new everyday. Maybe it’s a phrase in a foreign language or a financial term you aren’t familiar with that would be helpful to you.
Habit #2: Setting goals – I think you may already know how I feel about this one. Failing to set goals is detrimental to your financial future. Don’t just set goals in your mind, commit them to paper and look at them everyday to see where you are in the process.
Include goals in different areas of your life such as fitness, weight loss, financial, educational, and professional goals. Make the goals attainable and take steps that help you reach those goals.
Habit #3: Planning – Make a plan and stick with it when possible, if it is a good plan. You can always change it when necessary if it isn’t working as you had anticipated. Set long-term as well as short-term goals so that you can gauge your progress. Sometimes long-term goals can seem overwhelming, so break them into several short-term goals that are achievable in a short period of time.
Habit #4: Networking – I believe this is one of the most overlooked successful habits for many people. Get to know people from all different areas in life. You never know when someone in your network is the key to reaching your goals. Take every opportunity you can to meet people. Always have business cards with you so that you can share them with others. I usually make it a habit to email my new contacts within a few days of meeting them so they will remember who I am and where the met me. LinkedIn can be a great place to network for business people! It is free to use so take advantage of this great resource.
Habit #5: Journalizing – Writing your thoughts down in a journal helps you keep your mind clear. It allows you to look back on your day and reflect on what happened and what you were thinking. Looking back in your journal may help spark creativity.
I have found my old journal pages that were completely forgotten. Often, I can see how far I have come in my career and other areas of my life by looking back on things I wrote in the past. Make it a habit to keep a journal. It might be a good idea to have different journals for different areas of your life or for different seasons in your life.
Get started implementing these five habits this week to help you model your life after people who have reached the goal most of us hope to achieve. Next week, we will continue with goals 6 through 10. I hope you make these habits part of your everyday life!