Are the habits of the rich vastly different from those of the poor or not so rich? And, do these habits make them rich? We are bringing to you ten habits of the rich that are definitely worth acquiring to get ahead in life.
Motivational speaker and author Thomas Corley spent five years studying the lives of both the rich and the poor, and has brought his findings in his interesting book “Rich Habits: The Daily Success Habits Of Wealthy Individuals.”
For the purpose of his study the author classified the rich as those having an annual income of $160,000 or more and a liquid net worth of $3.2 million. People with an annual income of $35,000 or less and a liquid net worth of $5,000 or less were classified as poor.
1. Rich people focus on their goals every day.
According to this study 67% of the rich focused on their goals and actually put their goals in writing. In comparison only 6% of the poor claimed to focus on their goals.
This shows that having a focus on your goals and clearly defining your objectives is really important for success. As simple as saying that in order to reach a destination you do need to be well aware of where you are heading, otherwise you will end up drifting aimlessly.
2. Rich people maintain a daily to-do list.
A whopping 81% of the rich were found to keep a daily list of things to do, while only 19% of the poor admitted to keeping a daily to do list.
Keeping a list of things to do keep your focus on what needs to be accomplished on a daily basis in order to reach your long term goals. It also prevents you from getting distracted and wasting your time aimlessly.
3. The Rich stick to their to-do list.
According to the author’s study, the rich actually stick to their daily activity list and a majority of them manage to complete 70% of the tasks listed on their daily to-do list.
It is not enough just to come up with a list and spend the rest of the day doing nothing about it. You need to be committed enough to accomplish the tasks listed in your to do list.
4. Rich people do not watch reality shows.
In general the television viewing habits of the rich and the poor were different. The rich spent less than an hour watching television programs and only a few of them (6%) watched reality shows.
In comparison a majority of the poor (78%) admitted their liking for reality shows and spent more than an hour per day watching TV programs.
Television is a good source of entertainment and can help you bond with the family and unwind from a busy day. However too much of television and getting addicted to reality shows can suck up a lot of your productive time.
5. Rich people read books and read with a purpose.
A majority of the rich (88%) indicated their preference for non-fiction books and actually spent at least 30 minutes per day reading books in the self-help genre. In comparison only about 2% of the poor claimed to read self improvement books.
Popular fiction is easy to read and entertaining. However, in comparison reading books that provide information and self improvement books where authors share their experiences and provide tips based on their knowledge and skills gathered through a life time of learning can be very useful.
5. Rich people work harder and longer.
81% of the rich said they do more than what the job requires compared to 17% of the poor. A majority of rich (86%) were found to be working 50 hour weeks compared to 43% of the poor. Also, only 6% of the rich surveyed found themselves unhappy because of work.
It is not too uncommon to come across people who are unhappy with their work and end up offering poor service to customers. These people also make life difficult for their colleagues by doing too little and leaving their assignments unfinished and messy.
It does not take much imagination to figure out where such people end up in the long run. On the contrary those who do things to the best of their abilities and work hard are noticed for their commitment and often get far ahead in life.
6. Rich people are not hoping to win a lottery.
A majority of the poor (77%) played lottery regularly compared to only 6% of the rich. This indicates that the rich believe more in working to earn money than living it to the chance of winning a lottery ticket.
Lotteries offer a cheap dream but the danger arises when you end up believing it to be the only source of getting ahead in life. Your chances of becoming rich are better and more certain when you actually start doing something to get ahead in life, rather than leaving it all to the chances of winning a lottery.
7. Rich people work out regularly.
As per the author’s research, 76% of the rich worked out at least four days a week compared to 23% of the poor.
Regular exercise prevents health problems, increases physical fitness, provides more energy to do everyday tasks and promotes mental health due to increases in the flow of blood and glucose to the brain.
8. The rich have healthy eating habits.
70% of the wealthy consume less than 300 junk food calories per day, compared with only 3% of the poor.
In simple terms, the rich take care of their health, working out regularly and monitoring their diets. This translates into productivity, better health, longevity and fewer health problems.
9. The rich do not gossip.
According to the author’s research, 79% of the poor engaged in gossip compared to only 6% of the rich.
Gossip is a very negative and damaging activity that prevents you from focussing on your own goals and objectives. By indulging in gossip about successful people, celebrities or minorities, it is more than likely that you may end up breeding self-damaging negative emotions like jealousy, fear and hatred.
10. Learning is a lifelong journey.
86% of wealthy believe in lifelong educational self-improvement vs. 5% of poor. 63% of the wealthy listen to audio books during their commute to work vs. 5% of poor people.
Most people stop learning as soon as they are done with their college education. The few who believe in lifelong learning and self improvement are likely to come across new ideas and skills that can make money and make a difference to this world.
Million Dollar Question
Is it possible to become rich by simply changing your habits?
The ten habits of the rich as discussed above are certainly helpful in boosting productivity, personal development, acquiring knowledge, new skills and keeping your focus on your goals and everyday tasks. It is clear and easy to see that these habits are indeed beneficial and worth acquiring.
However, it is debatable whether the rich are rich just because of these habits or whether they exhibit these habits due to their lifestyle and because they can afford to.
Do chip in with your comments, it can be a very lively discussion and pretty useful too!