From rubbing a lamp in search of a genie (and looking for leprechauns) to adopting well-known industry secrets or actually working hard – humanity, as a collective whole, has tried tons of ways to become rich. However, almost nobody becomes rich purely on the basis of luck. And even if they do, they may not stay rich.
So, the moral of the story is, in order to become (and stay) even richer, your focus shouldn’t just lie on things you have to do; but even on things you need to stop doing!
A leading researcher in the habits of the rich, Tom Corley, has come up with ten things one should stop doing in order to become richer, after analyzing the habits of the rich and those who didn’t save money for 5 years. Here are his recommendations of habits you steer clear from:
1. Stop Meeting New People
According to Corley’s research, 68% of the rich loved meeting new people on a regular basis, while only 11% of poor people felt the same (1). People who had financial stability and achieved the status they wanted to actively try to create and maintain a good impression on everyone. They also made it a point to wish new contacts on every special occasion.
2. Believe In Fate Only
As you may have heard, fate favors only the few. And that too, in very few and far between, kind of trivial scenarios. When it comes to the big things though, you just can’t rely on it. And that’s what the rich believe in too – always thinking that they’re solely responsible for the turn their life takes. However, 90% of the poor put the blame on fate as well as other factors they can’t control.
3. Hate The Job You Have
One thing that’s common amongst 85% of the financially strong and successful people is that they all love their job! That’s the attitude you need to have too if you want to accumulate more money in your pocket. A negative attitude that is made up of constantly findings cons in your job will not help you achieve success. If you really hate your job, change it and do something you love.
4. Ignore Your Health
One of the core habits of the rich is that they place great emphasis on their health. Things they do in this regard include visiting the doctor regularly, having a balanced diet, indulging in sports, maintaining an overall healthy lifestyle, and staying away from unhealthy habits. However, when it comes to regular people, only 13%, according to Corley, believe in sound health as a key to success.
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5. Hesitate To Take Risks
Nearly 50% of the rich are not afraid to take a risk to make their financial condition even better, but when it comes to the poor, only a 6% are willing to do the same. But it’s not like the rich don’t have to deal with failure. Corley’s research has shown that the risks the rich took led to big failures too, at least once in their lives. They just chose to move on instead of dwelling in the past.
6. Watch Reality TV
It’s the worst kind of TV. Period. And the rich never watch it! Only 6% of the rich spend time on reality shows, while 78% of the not-so-rich enjoy shows that depict the private lives of other people (2). In fact, the rich don’t enjoy watching TV and never seem to spare less than an hour for it each day. They do the same with the internet too and only spend a longer time online if it’s work-related.
7. Not Read Useful Books
Reading leads to thinking, and thinking is one of the elements of success. Most of the rich and successful, 88% to be precise, agree with this. If you interact with them, you’ll find them reading books that help their professional and personal growth and even increase their knowledge for at least half an hour each day. 2% are the number of the poor that give that much time to reading.
8. Be A Late Riser
Corley observed that the successful lot woke up a minimum of 3 hours before their work day started, roughly around 5am (3). This time is spent planning their entire day. However, that doesn’t mean they don’t sleep enough. They make sure to catch 7-8 hours of shut-eye and also meditate for 10-15 minutes each day.
9. Keep In Touch With Toxic People
A whopping 96% of people who struggle to make ends meet know someone who constantly complains about everything. The successful weed such people out from their lives and only interact with those who inspire and motivate.
10. Spend Beyond Your Means
Believe it or not, the rich save while the poor generally end up spending beyond their means; buying stuff on credit. To be successful, you need to deposit at least 20% of your income in your savings account, and spend no more than 25% on rent, 15% on food, 10% on entertainment, and the rest on other things such as clothes, medication, etc.
Even if you don’t aim to be super rich, inculcating these habits into your daily living can do you good and open new doors of endless possibilities you never knew before. Best of luck!