As the saying goes “money doesn’t buy happiness.” But what money does do is make things easier in life. With the economy changing, and America becoming more capitalistic, money couldn’t be more important. Those who are permanently wealthy have many things in common. They have enough insight to take calculated risks when investing which increases their wealth. But not everyone has good insight or knowledge. Some people who are lucky or work a lot tend to make mistakes. If you want to be richer, you need to cut down on certain mistakes.
There are certain habits that wealthy people have that those with less money do not. Researcher Tom Corley, who has studied both groups extensively for five years, has made a conclusion between both groups.
Below are the top things you need to stop doing if you want to be richer.
Not Expanding Your Social Circle: If you want to be richer, you need to expand your social circle. By expanding it, you increase your chances of meeting new people who share the same values and ideas as you. By doing this, you also increase your chances of becoming richer. According to research, about 68% of people who are wealthy enjoy meeting new people. Only 11% of those who are less wealthy say that they love meeting new people. The key is first impressions. Many wealthy people are confident and know what they want, so their first impressions are always good. PHOTOCREOMichalBednarek/shutterstock.com
Blaming Luck and Fate: When it comes to something simple like choosing the color of your shirt, you can believe in luck or fate. But when it comes to money and your future, luck and fate have nothing to do with it. Wealthy people believe that their path to success is driven by their passion and goals. Unfortunately, those who are less wealthy tend to blame fate and bad luck for their misfortunes. Research indicates that about 90% of the less wealthy do this. So instead of trying to make their own path, they turn to psychics and lottery tickets to try and improve their well-being. Natali_ Mis/shutterstock.com
Working A Job You Hate: If you love your job, chances are you’re going to produce great work. Research shows that 85% of people who enjoy their job are financially successful. Those who are less wealthy tend to complain about their job constantly which destroys their moral and their work production suffers. If you’re unhappy with your job, don’t whine about it, find something you enjoy. fizkes/
Ignoring Your Health: Have you ever noticed that wealthy people tend to be very healthy? That’s because they devote a lot of time to their health. About 76% of wealthy people exercise about four times a week and have a balanced diet. By doing this, they eliminate bad habits. By eliminating bad habits, it leaves room for more positive outcomes. The same cannot be said for those with low income. About 13% of low-income people have a positive connection with success and good health. Lightspring/shutterstock.com
Stop Playing It Safe: In the financial industry, taking risks is a daily part of life. In most cases, high risks come with high rewards. It doesn’t always work out, but if you don’t take risks, you’ll never get ahead. Researchers did an experiment to test this theory on rich and less wealthy individuals. The results showed that only 6% of less wealthy people took a financial risk and 50% of wealthy individuals took a risk. The wealthy group also mentioned that they experienced a failure from their risks at least once in their life. But instead of trying to fix the risk they took, they moved on instead. PHOTOCREOMichalBednarek/shutterstock.com
Stop Avoiding Books: When people need information in their self-development, they don’t turn to books anymore. They turn to the internet or the television instead. But reading a book gets your mind thinking. It allows you to put different things into perspective without having someone giving you an opinion that might persuade yours.
Sleeping In: Wealthy people believe that their day starts early in the morning. They know that there are only 24 hours in the day so they need to plan things ahead of time. Most wealthy people spend time working on personal projects before going to work. You might think that they don’t get much sleep, but they actually do. Wealthy people always get their recommended 7-8 hours of sleep. GeorgeRudy/shutterstock.com
Stop Communicating With Negative People: You know why wealthy people are so successful? It’s because they surround themselves with people who are just like them. If you surround yourself with toxic, negative people, you’re not going to feel inspired to work for more. If you want to be richer, avoid and ignore all toxic and negative people. Providr