7 Mental Habits That Will Make You Wealthy

7 Mental Habits That Will Make You Wealthy

More than anything, your thoughts determine your success. This is also a truism when it comes to your wealth. Everything from your daily spending decisions to how you invest relies on your decision-making. Ultra-successful individuals understand the importance of mental habits, and utilize them day in and day out to ensure consistent success and wealth creation. Here are some of those mental habits you can utilize today: Be Grateful  A big misconception about wealthy people is that their constant pursuit of more wealth also makes them constantly unhappy with what they currently have. In fact, rather than being unhappy with their car as soon as the latest model comes out, wealthy people do the exact opposite. Don’t believe me? Studies have found that people who are grateful have 10% higher incomes. Part of this has to do with viewing luxury differently and not correlating higher income with more spending. But there are also a slew of priceless benefits that come from gratitude, such as better relationships with others and improved health (according to Harvard research). Although you should always be reaching higher and higher, you should never forget or take your past successes for granted. You can start this today by using proven methods to increase your gratitude, such as keeping a gratitude journal or merely reflecting for a few minutes. Look at the Long-term Game As Warren Buffett once wisely said, “Someone is sitting in the shade today because someone planted a tree a long time ago.” A large portion of wealth-building involves looking at the long-term results and consequences of your decisions, while filtering out the short-term noise. For instance, instead of looking at the short-term appeal...
5 Billionaire Habits You Need to Start Using Today

5 Billionaire Habits You Need to Start Using Today

Becoming a billionaire might seem like an impossible pipe dream, but the amount of them keeps getting bigger every year. Yes, it’s no cakewalk, but it is something that is possible and within your grasp. You won’t become a billionaire overnight, but you can start taking control of your financial success today. Here are some of the proven habits of billionaires that will take you to the top: Live well below your means. Trying to become a billionaire doesn’t mean you should live like one. In fact, the truly wealthy know that luxury involves building financial freedom instead of being shackled to extravagant purchases. Mark Cuban, for example, suggests living incredibly frugally to achieve billionaire status: “Save your money. Save as much money as you possibly can. Every penny you can…The first step to getting rich requires discipline.” To start getting your money to work for you, try our 20-30-50 plan – it’s a fun, flexible way to start accounting for your dollars. Seek out people smarter than you. It’s a misconception that becoming ultra-successful involves cutthroat competition and not giving others the time of day. Take Howard Shultz, CEO of Starbucks, for example, who said “Don’t be threatened by people smarter than you.” In fact, Thomas Corley, who studied the wealthy in Rich Habits: The Daily Success Secrets of Entrepreneurs, found that 79 percent of wealthy people spend at least five hours a month networking-whether it’s through conferences, client meetings, or just getting coffee at Starbucks. On your path to billionaire status, don’t be afraid to network with others, or to reach out to a mentor for advice. People...
5 5-Minute Habits of The Wealthy and Successful

5 5-Minute Habits of The Wealthy and Successful

It may have taken a while for wealthy and successful individuals to get to their place in life, but it all started with some tiny habits. Money is tied to almost all of our decisions, and it’s those minuscule daily choices that can snowball into big success (or failure). The good news is that you can get started on the track to billionaire status in just five minutes a day. Here’s how to get started: Track your spending The only way to truly build wealth is by investing, and that won’t happen on a larger scale if you don’t know where your paycheck is heading. Think of it like stepping on a scale: it might not be the most fun thing to do, but you have to get a sense of where you are now to move forward and progress. So for just five minutes (most likely even less), you’re going to adopt one of the habits of wealthy by tracking how much money you spend daily and monthly, and whether it’s going towards wants, needs, or your financial future. Once you have a clear sense of this, it’s time to improve – which brings us to our next point: Save (and invest) money like clockwork In terms of financial success, one of the habits of the wealthy you can instantly adopt is to automate your savings. Even if we intend to save our money, we’re only human, and sometimes we forget or spend more money than we realize. However, if you automate your savings, that money is instantly tucked away where it’s harder to spend carelessly, and easier to use for...
5 Expert Salary Negotiation Tips

5 Expert Salary Negotiation Tips

Now that everyone is back from their summer excursions, job hunting season is in full swing. Whether you’re considering a new career, or just trying to get a salary bump in your current position, now’s the time to earn more and finally get your true value. Although it might seem a little scary at first, we have some painless salary negotiation tips that can transform it into an exciting opportunity: Your paycheck isn’t the only benefit on the table One of the most overlooked salary negotiation tips is that your paycheck isn’t the only benefit an employer can offer. Everything from extra vacation days to a company gym membership are also extra perks that you can stretch for. And who couldn’t use more time at the beach or a better workout? The best part: most of these perks are a lot more flexible and negotiable – according to The Muse Career Coach Melony Wilding, “It’s much more attractive for an employer to ‘throw in’ extra PTO days or a work-from-home option rather than boosting the salary offered.” If your potential employer is a little hesitant to tack on all the money you wanted, this is a great way to close the gap towards your true net worth. Get scientific Cold hard facts are hard to dispute. That’s why Glamour recommends getting scientific with your negotiations. There’s a vast sea of information online regarding what similar people are getting paid by industry, location, job title, and skills. So do your homework – be ready to drop figures left and right while justifying your raise or new salary. Using this as one...
3 Simple Habits That Will Make You Wealthy

3 Simple Habits That Will Make You Wealthy

We’re fascinated by self-made billionaires. We often think of them as mystical creatures that have some secret sauce separating their extreme wealth and success from the rest of us. Although every extraordinarily wealthy person has a different story, the truth is that they’re not that different from everyone else. Many billionaires got to where they are now by instilling some simple money habits that helped them rise to the top, and you can too. Here are some of those simple habits that will make you wealthy: View luxury differently What do Sara Blakely, Oprah Winfrey, and Warren Buffett have in common? Besides being incredibly rich and successful, they all have investment accounts. That’s because they view investing as the biggest luxury in life. They know that paying their future selves and empowering their life goals and dreams is much more of a treat than some new clothing. You don’t have to live the life of a monk, but the next time you get a tax return or have some extra money because you just got a raise, consider this: Is that money better spent at a mall or on your future? They spend differently The truly successful know that having a big paycheck is different than actually being wealthy. They avoid the “golden handcuff” syndrome by not automatically correlating more income with more spending. Even billionaire Warren Buffett lives in a $31,500 house, and Mark Zuckerberg drives a $30,000 Volkswagen GI. Having billions does not mean always buying flashy things, but investing in yourself and your future. Automating money transfers from your checking account to your savings is a...
4 Surefire Ways to Get the Raise You Deserve

4 Surefire Ways to Get the Raise You Deserve

You work hard and smart. You put your nose to the grindstone, and receive showers of praise. Don’t you think your salary should match that? We get it, asking for a raise can seem intimidating. But you shouldn’t let asking for a raise intimidate you; it should empower you! Standing up and getting your true worth, both financially and professionally, is one of the best things you can do for yourself. Here are some surefire ways to get the raise you deserve: Realize you can get it! In a recent Glamour survey, they found only 43 percent of women surveyed had asked for a raise over the course of their careers — but out of those 43 percent, a whopping 75 percent received raises when they asked. Remember, if you’re working hard,  the discussion to get the raise you deserve is something an employer will expect – if you ask for a salary bump the right way, the worst an employer can do is put the discussion on the table for a later time. Make a roadmap Employers want someone who is in it for more than the money, and you want the professional challenges and to get the raise you deserve. That’s why you shouldn’t just ask for a raise; you should make a career road map.  If you aim higher than just money by talking about what you both see in your future for the organization, it’s a win-win for both of you. Liz Ryan, CEO and Founder of Human Workplace, says, “That gives your manager a chance to think about the projects and priorities you’re describing,...