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The 7 Millionaire Habits That Will Transform Your Finances

June 19, 2024
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The 7 Millionaire Habits That Will Transform Your Finances

I don’t wake up at the crack of dawn. I don’t have a strict journaling routine. And I certainly don’t work out every single day. Yet, I was able to climb my way out of six-figure debt and build a seven-figure net worth by age 32.

The key wasn’t found in generic productivity hacks or morning routines. Instead, it came down to developing the right mindset and daily habits. In this guide, I’ll share the 7 essential millionaire habits that can transform your finances, no matter where you’re starting from.

Habit #1: Treat Failure as Feedback

The most successful people in the world don’t see failure as the end – they view it as essential feedback on the path to progress. As Ray Dalio, the founder of the world’s largest hedge fund, says: “Pain + Reflection = Progress.”

When I was interviewing for competitive Wall Street jobs in college, I’d get constant rejections. But instead of getting discouraged, I’d email the interviewers and ask for feedback on why I didn’t make it to the next round. Their honest critiques – whether it was smiling too much or sounding immature – allowed me to improve for the next interview.

Eventually, this process of failing forward led me to land my dream job. The key is to stop seeing failure as a reflection of your worth, and instead, use it as invaluable data to fine-tune your approach.

Habit #2: Set Goals, Plan Your Days

While I may not wake up at the crack of dawn, I do make sure that each day advances my long-term goals. At the start of every year, I create a curated list of the 2-3 goals I’m most committed to achieving that quarter.

Resources that have helped me learn these habits include Michael Hyatt’s “Your Best Year Ever” book and Marie Forleo’s “Time Genius” course.

I then break these down into specific daily actions, which I track in a productivity tool like Asana. This allows me to stay laser-focused on the tasks that directly move me closer to my objectives, rather than getting sidetracked by busywork.

Habit #3: Learn Insatiably

When it comes to building wealth, the single most important skill is the ability to learn and grow. Whether it’s devouring books, taking courses, or finding mentors, continuously expanding your knowledge is key.

In my mid-20s, I even offered to work for a real estate developer for free, just to learn from his expertise. While the pay was minimal, the experience and wisdom I gained were invaluable. It wasn’t about the money – it was about positioning myself to succeed.

I highly recommend adding the book Think and Grow Rich to your reading list as it is considered the ultimate resource on developing the right money mindset and consciousness for building true wealth. 

Habit #4: Make Your Own Luck

Successful people don’t sit around waiting for luck to find them – they create their own. When I was unhappy with my corporate career, I didn’t just complain; I started teaching free personal finance classes in a coworking space to build my first audience.

Instead of making excuses about why your dream can’t happen, start taking action to make it a reality. Carve your own path, even if it’s uncomfortable at first. The results may surprise you.

Habit #5: Say No A Lot

Millionaires understand that time, energy, and money are limited resources. Saying “yes” to one thing often means saying “no” to something else that’s important.

When I was getting out of debt, I had to say no to a lot of discretionary spending. And even now, as I’ve built wealth, I’m very selective about where I allocate my time and resources. I’d rather invest in my long-term goals than indulge in short-term luxuries.

Learn to set firm boundaries and prioritize ruthlessly. Your future self will thank you.

Habit #6: Take Care of Your Health

You can’t do anything without your health, no matter how much money you have. I make sure to prioritize my physical and mental wellbeing, whether that’s taking daily walks, doing dance breaks, or getting regular checkups.

Neglecting your health will inevitably impact your productivity and energy levels. Start small, like drinking a glass of lemon water each morning, and build from there. Your wealth-building journey depends on you being in peak condition.

Habit #7: Your Word is Everything

The final habit that’s been transformative for me is treating my word as sacred. I used to be the biggest flake – constantly making promises I didn’t keep, whether it was showing up late or never following through at all.

This eroded my self-esteem and credibility with others. But once I made a commitment to always follow through on my word, it was a game-changer. I became more reliable, accountable, and confident in myself.

Now, I’m very careful about the commitments I make. And if I can’t deliver, I’m quick to communicate, apologize, and clean up the mess. Keeping your word isn’t just good for your relationships – it’s essential for your own self-respect and growth.

Start Building Wealth Today

The habits and mindset shifts I’ve shared aren’t complicated, but they do require consistency and commitment. Rome wasn’t built in a day, and the journey to becoming a millionaire is no different.

Remember, it’s not about perfection – it’s about progress. Focus on improving just 1% each day, and you’ll be amazed at where you end up. Sign up for my “Call to Freedom” email list to get exclusive insights on creating financial freedom. I’m here to be the friend a few steps ahead, showing you the way.

The 7 Millionaire Habits That Will Transform Your Finances
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YouTuber, Money Expert, Educator, Traveler, Rebel, and #1 Book Nerd. My mission is to empower you with the mindset and financial know-how to create a life of TOTAL freedom.

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Rose

YouTuber, Money Expert, Educator, Traveler, Rebel, and #1 Book Nerd. My mission is to empower you with the mindset and financial know-how to get more of what you want out of life.

The weekly email that spills all the secrets on what it really takes to create a life of total financial freedom

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