Successful People Create Wealth, Poor People Demolish It

Some people still believe that you need to have the right conditions in life to be wealthy such as wealthy parents, attending prestigious schools, knowing elite individuals, working in high income jobs or owning your own business.

This could not be further from the truth. There are plenty of individuals who grew up with access to the ‘right conditions’ who have absolutely nothing to show for it. Likewise, there are plenty of poor people who chose to ignore and deny their dire situation and do absolutely nothing to change it.

However, there are many stories of ordinary people who became successful to prove otherwise. Every day you can read articles on Addicted2Success about entrepreneurs living on friend’s couches, surviving on a meagre income, working tirelessly for years on end to achieve their dream and persisting despite the never-ending challenges to finally come out on top like Scott Everett Co-founder of S2 Capital and Daniel Katz of No Cow.

Irrespective of where you start, those whom create wealth are the masters of their universe. They believe in themselves and their life’s mission. They consciously choose to adopt a growth mindset and are massively committed to doing everything possible to turn their dreams into reality from becoming an international pop star, a New York Times best-selling author, a famous TV personality, or building a billionaire dollar empire.

“Becoming wealthy is not a matter of how much you earn, who your parents are or what you do…it’s a matter of managing your money properly.”  – Noel Whittaker

Wealthy, successful people choose to create their wealth and are committed to managing their money effectively whilst poor people demolish their wealth at every turn by choosing instant gratification, adopting a scarcity mindset and mis-managing their money. What separates the two, comes down to three factors:

1. How you choose to play the game – Is your focus strategic or short-term?
2. Do you have a growth or fixed mindset?
3. Your daily spending habits – are you building or destroying your wealth?

Below, are the eight daily habits that set the wealthy apart:

1. Master of their universe

Their number one value in life is financial security over status. The wealthy understand that by building a strong foundation via small sacrifices creates a plethora of choices and ultimately freedom. Their money works for them as they refuse to live a life where they are not the Master.

2. Highly regarded

The wealthy know exactly what they want and have a game plan to get there. They believe wholeheartedly in their life’s work. They have high standards for themselves and others and expect people to adhere to those standards. They won’t back down from letting people know that they have disappointed them or offended them by their actions or conversations.

3. Self-Assured

Actively invest and build their wealth via businesses, investment portfolio and purchasing real estate. It is through education, connections and research that the wealthy are able to invest wisely. If a mistake is made, they learn from it rather than allowing it to hold them back or repeat the same mistake. They are confident in their own abilities and trust their intuition.

4. Intentional

They are committed and disciplined to each activity they engage in from gardening, investing, speaking at a conference or motivating a team. They do not tolerate others excuses such as: I am sick, I got stuck in traffic, I did not have time to resolve the situation,  I’m sorry, I forgot to call him back and so on.

5. 10X Action

They actively engage in 10x action and thrive on challenges. They will achieve more in a day  than most people do in a week. A challenge to them is excitement, it is a game to be played and a problem to be solved which is how they end up positively impacting people’s lives.

“What you choose to do with your money shows whether you are truly powerful or powerless.” – Suze Orman

6. Risk Taker

They take risks others are too afraid to such as borrowing enormous sums of money, investing in a risky business or purchasing a large piece of land to develop an empire, marketing a product that does not yet exist or taking a chance to work with an unknown professional as they realise their potential. They borrow other people’s money to invest in assets and grow their business.

7. Consistently spend less than they earn

The wealthy are experts in managing money and know where every cent of their money goes unlike the majority who fritter it away at every turn, not realising how much they are throwing away. Some may consider them to live frugally despite having millions of dollars. That is because they value and appreciate money and therefore more money flows to them, it is a constant cycle.

8. Generosity

The wealthy understand that life is a two-way street and is important to be able to give and receive. Often, they focus on a few charities that are close to their heart and give alot of their time, energy and money to support the charity. They offer support by way of attending fundraising events, giving donations, hosting events, and becoming a member of the Board.

Decide today whom you want to become and how you want to live your life. What is your dream? How many people do you want to impact? How could you build a talented team who love what they do? What inspires you to get out of bed each morning? How do you want to feel each day? How do you want to spend each day? What does an awesome weekend look and feel like? What drives you financial security or status, simply looking good to others?

The bottom line is you must take action to change your life and choose to commit to becoming a financial warrior by knowing what you want, adopting a long-term game strategy and knowing that you have the power to live an audacious life.

What habits have you adopted to achieve greatness? Comment below!

Image courtesy of Twenty20.com