Top Things Wealthy People Do That Nonwealthy People Do Not

When I was first attempting to play golf professionally, I hired a sports psychologist to assist me in understanding how to compete.  One of the drills we worked on was observing ultra-successful golfers and emulate their every move.  Walk how they walk, stand how they stand, talk how they talk, conduct yourself how they coduct themselves.  The idea behind the task is if you want to be successful do what other successful people do. And this applies to all walks of life. I have used this drill when I started operating golf courses. I use this drill when I played golf. I use this drill in my current business endeavors. You are not trying to reinvent the wheel, you simply have to follow the pattern that has been set before you by those that have already accomplished much. So the question arises: what do successful people do? And more importantly what do they do that you might not be doing? So to answer this I have researched online and have compiled a list of things that wealthy people do that nonwealthy people do not.  My sources defined wealthy as households with an income exceeding $150,000 per year and nonwealthy as less than $30,000 per year.  The results are listed in no paticular order of importance.

1.  Wealthy people watch television less than 1 hour per day…pretty self explanatory.  Watching television is a waste of time.  Find something more productive to do with your time like goal setting or reading or exercising.

2.  They live within their financial means.  Statistically they allot 25% of their income to housing, rent or mortgage.  15% to food.  10% to entertainment.  And 5% of their net annual to holidays/vacations.

3.  Have no credit card debt.  This goes with living within your means. Most credit card debt is accrued buying unecessary  things that you could not otherwise afford.  It only goes to reason that if you live within your means and are not focused on unnecessary spending you will have no need to accrue credit card debt. Also wealthy people’s mindset is to put themselves in the best situation for success and they realize that credit card debt is one of the largest hindrances to success as it limits mobility.

4.  Spend time each month networking.  It is not who you are, but who you know.  Going back to our golf analogy you quickly understand that in order to get better at the game you must play with players that are better than you. In instruction we often tell our students to start playing with golfers of better skill level. That way they can see what better golfers do and how they act on the golf course and these habits will help them get better.

5.  Do not gamble/play lottery.  Self-explanarory

6.  Read non-fiction daily.  Wealthy people understand the importance of self improvement and read to expand their knowledge.

7.  Slow to speak, quick to listen.  This one surprised me as it was on every list on every website as a habit of wealthy / successful people. The Dali Lama once said “when you speak you are repeating what you already know. When you are quiet you may learn something new.”

8.  Have daily written goals/to do list.  And having their goals written down daily they complete about 70 percent of the tasks on the list. Writing down goals each day keeps their day productive, focused and makes reaching long-term goals easier

9.  Avoid toxic people.  When you surround yourself with like-minded and focused individuals, it makes reaching your goals much easier. Plus you can learn from those around you if they are geared toward success as well.  Let naysayers find someone else to hang out with. If you want to be successful you do not have time to waste dragging along people that want to cause drama in your life.

10.  Have a mentor.  Of the successful people interviewed, almost 100 percent of them had a mentor in their life that they attribute most of their knowledge and success.  Having a person that is willing to help you and teach you is critical to success.

11.  Have a single life goal/know their purpose.  This is the desire we have spoken of often. Successful people and wealthy people know what they want and have an unquenchable desire to achieve!

12.  Exercise every day.  You must take care of your temple.

13.  Wake 3 hours prior to work day beginning.  This is usually the time that exercise, sending and replying to emails, and meditation occurs. It sets the tone for the entire day.

14.  Believe good life habits produce good “luck” and bad life habits produce bad “luck.”  Wealthy people do not become successful because of luck and unsuccessful people are not unsuccessful because of bad luck. Your life is what you make it and the better your life habits the better your chance for success.

I believe that success begins to happen when your life-habits point toward success.  Watching lots of TV, gaming, lack of written goals, over-eating, gambling, unnecessary spending and similar habits will create a certain lifestyle.  If you want your life to change for the better, then you must change your life-habits.  Take some time and evaluate your habits to see how they compare to the 14 habits listed above.  Maybe it’s time for a makeover??

Till we meet again…dream big, dream often.

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21 thoughts on “Top Things Wealthy People Do That Nonwealthy People Do Not

  1. Great post. I’ve read something similar elsewhere before it was nice to be reminded. I unplugged my TV five weeks ago now and haven’t watched any TV which is a big deal for me. I’ve been doing a few other of the things mentioned here and I’m yet to see huge results but consistency is key.

    Thanks for sharing this 🙂

    1. I practice most of these and use this list to occasionally take inventory of my lifestyle habits. The most important for me has been changing how I eat. I have lost 12 lbs and the dedication to my eating has changed my perspective on my entire life.

  2. I like your list – it is very positive. Good luck can befall those who are prepared for it. Bad luck can happen to anyone, but if one is prepared, it can be minimized.
    I need to send these tips to my children!

  3. What a valuable post. I think that everyone who reads it must know, in their heart of hearts, all these things, it’s just verbalising them and putting them into action that lets folk down.

    1. I remember, back when I was researching this subject, that these things are common sense. I agree that most people read this list and identify that they are needed for success, but most are too lazy to change.

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