You can ask many successful individuals when it comes to the topic of rich vs poor habits. There is a huge difference between successful and poor people that don’t work towards opportunities. In this article, I’ll be explaining what common habits the rich and poor people have in response to the “Rich Vs Poor Habits” article. Are you focusing on becoming successful and willing to take advantage of every opportunity thrown at you? Then let’s continue into the article where I can explain the differences between the rich and poor habit mindset.
Rich Vs Poor Habits
There are tons of successful people in this world but it doesn’t outweigh the number of poor people. How do certain people become so successful? How do I become successful? If you believe that you have no chance of success, well here’s an interesting fact for you:
Did you know? According to the Cato Institute, roughly 80% of millionaires are first-generation millionaires. Knowing this fact inspired me that anything is possible especially with modern technology providing opportunities for many people like us.
You might wonder, what are their habits in everyday life? What are the differences between the rich vs poor habits? Do you have the habits of a poor mindset? Do you believe you’re dealing with poor people problem(s)?
The Rich Vs Poor Habits: Poor Habits
It’s becoming silly of people to believe that perfectionism is an “okay” bad habit. Even job interviewers will roll their eyes when they see someone say this. Most of the time, true perfectionism can mean that a person did something so badly that it can stop them from trying anything different or new. Not trying anything new is most likely a bad habit to have.
You can ask any successful person you know. Successful individuals went through it. They understand that success will result in a great number of failures. So don’t hesitate and take advantage of these opportunities or find new ones for the betterment yourself.
“If you’ve failed, that means you’re doing something. If you’re doing something, you have a chance.” – Robert Kiyosaki, Author of “Rich Dad Poor Dad”
#2 Waiting on Opportunities
There are people sitting waiting for opportunities to come knocking at their door. It doesn’t happen often unless you’re lucky. Believe it or not, many people often miss out on tons of opportunities that typically require extra effort.
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison
#3 Driven to Distractions
If you get distracted and react every time your phone receives a notification, and start feeling unsettled because you’re not able what the notification was, then you’re likely dealing with a distraction problem. Emails, texts, social media – they drag you away from focusing on what you need to work on. It is a problem when it is pulling you away from dinner with your family, doing your homework, or focusing at work.
Research shows that many successful people tend to disable their notifications on their devices when they’re busy with important things. It’s best to opt-out and don’t let these kinds of things distract taking away your 100% focus.
Work is hard. Distractions are plentiful. And time is short. – Adam Hochschild
#4 Putting Your Priorities Behind Someone Else’s
When you’re not working towards your priorities, moving towards a goal and success will become slower. If you are putting away your priorities for another individual, that’s one of the most dangerous habits of an unsuccessful person. I’m not talking about putting away your work to assist friends/family, doing what your boss asked you to do because those are things that every person should be doing. But as a person striving towards success, they need to understand where their priorities will fit in or complete the puzzle.
At most times, successful individuals are likely the ones that are willing to reject an invitation when they feel there are more important things they should focus on. If you think saying no to a party or an event is a huge sacrifice, think about the benefits. These successful people are usually the ones who write the book, get promoted by their boss, the ones starting a business, or get something awesome as a reward to themselves. It’s all due to the fact that they kept their priorities straight. Hard work and self-discipline doesn’t come unrewarded.
“The future belongs to those who believe in the beauty of their dreams.” Eleanor Roosevelt
#5 Habit of Procrastination
Do you have a project that’s due at midnight? Do you have bills that you should be paying on time? You might’ve already guessed it, you’re struggling with procrastination. It’s common.
If you have important work to do but instead, spend the beginning of your day watching YouTube videos, browsing your Facebook feed, answering emails, etc., you will have trouble on your journey to be as successful as you can most likely be. For many individuals, they are most productive once they start working. You should challenge yourself and tackle these tasks.
If you focus on your most challenging tasks first, your day becomes easier. You will be less stressed, create better work, more efficient, and likely to increase your chance at success.
#6 Not Wanting to Change
It doesn’t matter how old you are. If you aren’t willing to adapt to new technology, teach yourself new skills, or experiment with new ideas, then you will fall behind. In modern-day, our technologies are growing at a rapid pace, and if you refuse to adapt to it, then you won’t understand how to use these tools to succeed.
When you compare the rich vs poor habits, successful individuals are more than likely to learn and try different things. I’m not saying that they will follow and jump on every bandwagon when newer things come along, but instead, they’re willing to test out every possible move in a chess game. These individuals will make a decision for the betterment of their future based on their experience of failure
“Without bad days, our good days cannot exist.”
Now, you already know that multitasking is common and happens to almost everyone even me. On your browser, how many tabs are opened? If you notice your behavior of constantly changing between tabs after tabs with the interruption in the way, you won’t have the best performance. You won’t be able to focus on one thing.
According to voting stats from OpenSource.com, the majority of the votes are people with 20+ tabs opened.
When you multitask, you will often find a lot of time being wasted. Your brain can’t focus on multiple things at once and switching from one task to another will take your mind seconds to switch context, and it adds up over time. You should focus on one thing at a time because it’s critical for producing better work.
The good news is that habits are definitely changeable. It’s challenging and tough especially when a person wants to overcome a bad habit. Bad habits can be changed. While you think you’re stuck in a prison of bad habits, there are ways to break out of it to increase your chance of being successful.
The Rich Vs Poor Habits: Rich Habits
Now that we went over with the poor habits, let’s jump into rich habits. These are important habits that’ll help push you towards your success. Remember – all habits are changeable but it takes effort.
#1 Live Within Their Means
Successful wealthy individuals will usually save and make sure that they don’t overspend. They want to focus on paying for their future instead. The best way to do this is to not spend 20% of their income and enjoy/live with the other 80%. Overspending happens often and it takes a lot of self-discipline to not spend.
For the people that are financially struggling, the majority are living beyond their means. These people will usually spend more than they make, and can be overwhelmed with the amount of debt. Ending your struggles financially is very possible, you have to figure out a way and make it a habit when it comes to saving. Learn to budget on what you would normally spend your money on. Figure out your wants and needs.
- Don’t spend more than 25% on rent or housing.
- Eating out can add up. Learn to budget by cooking and spending no more than 15% of your earnings.
- Going out every weekend? Try limiting your entertainment. Going to the movies every weekend, the bars on Friday nights or clubbing can be costly. Don’t spend any more than 10% of your earnings. When it comes to vacation, you should only spend 5% or less of your yearly income.
- The same amount of percentage for vacation, don’t waste more than 5% on auto loans. Don’t lease. Majority of the wealthy purchase instead of leasing. Doing this means that you can keep your cars until the end of that car’s life, and taking care of it can help save you money long-term.
- It’s common that many people are in credit card debt. You should try to avoid credit card debt as much as possible. Bad spending habits can lead to debt so be cautious.
- If you’re planning on investing in stocks or cryptocurrency, see it as two different things. With savings, your money will never be lost because it’s there and the number doesn’t change. It’s good to have emergency funds just in case you lose your job, a hospital bill comes up, etc
- Put in extra effort to work towards your retirement. Whether it’s investing in something with great potential, starting a project that generates money, etc
#2 They Do NOT Gamble
You might be lucky once, but your chances of losing outweigh your chances of winning. It’s simply not worth it. Approximately 77% of individuals that are struggling financially tend to gamble. Rich people do not rely on chance to earn their money. Instead, they find ways to create their own luck. If this doesn’t stop you, my suggestion is to use your money from your vacation budget. When it comes to rich vs. poor habits, gambling is DEFINITELY a poor habit. Avoid it at all costs because the addiction is more common than you think.
#3 Read For Knowledge Because Knowledge is Power
Reading articles, books, or anything will help develop your knowledge about your business and career. The more you know, the more valuable you are to people. Finding jobs become easier. Networking becomes a piece of cake. With all the wealthy people, around 88% of them tend to read over 30 minutes a day.
There’s a reason why many readers are successful. They read and learn new knowledge, which gives them the advantage to improve themselves. With extra knowledge comes extra opportunities. Opportunities can lead to more wealth/money.
#4 They Spend Less Time Browsing The Internet
You probably lose a lot of your valuable time when you’re browsing the internet for unnecessary things as mentioned at the beginning of the article. Did you know that 2/3 successful people spend less than an hour on their television per day? And approximately, 63% browse the internet less than an hour a day unless it’s for their work project/job.
One rich habit is that these people will spend their extra time working towards personal development. They might be networking and building towards their journey to success.
- 77% of people that are financially struggling will spend more than an hour on entertainment per day.
- At least 74% will spend 1 hour+ doing unnecessary things on the internet.
#5 They Learn To Control Their Own Emotions
Everything you think about will not get out of your mouth. Not all emotions are required to be expressed. Your thoughts run 24/7 and if you speak about everything that is on your mind, you’re more than likely to hurt others. This is what you call a loose lip. It’s one bad habit that comes from 69% of people who are financially struggling. Aside from that, at least 94% of successful individuals will filter out their emotions. They have a better understanding when it comes to emotions because they know that it can ruin relationships whether at their job or at home. It’s best to wait and think about what you’re about to say and until your mind feels calm. After, take a different approach to the situation from a different perspective.
One of the negative emotions that I will be mentioning in this article is fear. It’s a negative emotion. Even drastic changes for the betterment of yourself such as your graduation, work promotion or marriage, can give you that feeling of fear itself. Successful people have learned to overcome these negative thoughts. Majority of those who are struggling financially let fear prevent them from moving forward. They usually hold back.
Even if you’re afraid of changes, not being able to avoid mistakes or completely failing, fighting these negative emotions is one step towards confidence. Once you break out of it, you will see how much confidence can help you towards your journey to success.
One of my favorite quotes from my old boss:
“Every single person you meet is an opportunity and luck is the people that you meet.”
With networking, it’s powerful. There are opportunities everywhere you go depending on who you meet. Some with smaller opportunities and some with bigger ones. Building meaningful relationships can provide you a better outcome on your journey to success. You will have potential clients, maybe work at a better job, etc. Why do you think successful people meet with successful people? They partner up and both exchange ideas to help improve their business.
#7 They Take The Extra Mile in Work/Business
People with poor habits tend are usually given fewer responsibilities. Their job salary grows very little as the year goes by and that’s if they keep their job at all. As for successful people, they make themselves more valuable to their boss’, customers, etc. They tend to write articles base on their work, speak at events, and taking the extra step to get to know someone (networking). These people who are wealthy tend to work harder towards their goal and build a better relationship with people to improve their business.
#8 Create Goals, Take Action, and Don’t Only Dream
You cannot simply wish and expect things to happen, but you can set goals and accomplish them one step at a time until that wish of yours come true.
Over 70% of wealthy people set a big goal every year. Unfortunately, only 3% of people with poor habits tend to meet this. If you want to succeed, think of a major goal and then create a list of small goals into achieving that major goal.
#9 They Avoid Procrastination
People with rich habits have a better understanding and more self-disciplined when it comes to procrastination. Your work won’t be perfect or the best when you procrastinate. How do you improve and avoid procrastination?
- Create a list of tasks. You want to set daily tasks and reminders to complete certain things on time.
- Set a deadline! Finishing things early
- Talk to someone with the same goal as you. This will be a great motivation because you’re both making sure that both sides are on track.
- Keep telling yourself to do it now. Don’t hesitate. Repeat these words until you actually do it. Don’t procrastinate!
#10 Talk Less, Listen More
When people are speaking to you, you should listen for every 5 minutes and speak for about one minute. Successful individuals are great at communication due to the fact that they’re great listeners. They can learn more when they listen rather than speaking.
#11 Stay Away From Toxic People
You have a higher chance of becoming successful if you hang out with successful people. You learn to adapt to who you choose to hang out with. If you hang out with people that only parties, you will most likely party. People that are financially struggling will stick with others that are struggling as well. If you have an opportunity or a chance to be with someone more successful than you, take advantage of that opportunity and learn from them.
Learn to determine your type of relationships. Which one will benefit you in the long run?
- Rich relationship – people who will help you up and become successful.
- Poor relationship – someone that prevents you from moving forward, holding you back.
When you’re in a rich relationship, you have a better chance of getting a better paying job, you will be motivated, or even follow their footsteps into success. They are the bus of opportunities.
#12 They Don’t Give Up
Wealthy and successful individuals have 3 things that are in common.
No matter what, they will refuse to give up on their goals. As easy as those three things sound, it can catch on to you when you feel burnt. Rest, but don’t quit.
#13 They Don’t Let Self-Limiting Beliefs Hold Them Back
If you’re one of the people struggling financially, you probably might believe: Unwealthy people cannot become rich. Poor people are unlucky while rich people are lucky. I’m not a genius. I can’t accomplish anything. I’m a failure.
Believing anyone of those sentences mentioned above can impact your behavior in a cynical way. Almost 80% of wealthy people become successful due to their beliefs. You have to learn to change your negative thinking into something positive. The negative and positive beliefs are the difference between the rich vs poor habits.
#14 Find a Mentor
In a pool of wealthy people, over 90% of them had a mentor that helped them to their success. Mentors are usually there to make sure what you’re doing right or wrong on your journey to success.
If you have a major goal and want to accomplish it, find a person that has already accomplished them and you’ll know the difference between the rich vs poor habits.
#15 Bad Luck Shouldn’t Be Part of Your Vocabulary
People that are financially struggling are usually the ones creating bad luck without even realizing it. It’s all part of their habits. When it comes to poverty habits, they repeat the same thing over and over. They can prevent things like health problems, a lost career, a broken marriage, or even a business relationship with their boss.
People with rich habits tend to have a better way of creating their own good luck. It’s all thanks to their good habits that lead from one good thing to another.
#16 They Know Their Purpose
The last habit for rich vs poor habits. This one is extremely important. The people that pursue a goal/dream tend to be happier than people with nothing to look forward to. That’s because they love what they’re doing and enjoy it. They will spend and work hours every day for that purpose.
If you’re not making a decent income at your job, chances are that you’re not doing something that you like/enjoy.
Here’s a list of ways to help you find your purpose:
- Create a list of anything that makes you happy.
- Look for things that require skill, and recognize that skill.
- Now, rank these items in the order that brings you the most happiness.
- Look for items on the list that can bring you income.
As you can see, the differences between a rich vs poor habits is a huge difference. You can be successful the sooner you start. You can become successful the sooner you change. If you’re already successful, congratulations and share this article with someone who needs it.
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