Daily Habits of Wealthy People

By Keith Tufte

WHAT do rich people do on a daily basis that is different from other people? Can the positive daily habits of people lead to financial success over time?

A study (and book) by Thomas Corley suggests that daily behavior can be one factor that contributes to economic outcomes for people.

Daily Habits of Wealthy People

Pic by marathonsweetheart.com

- They get up early. 44% of wealthy people wake up 3 hours or more before work starts vs. only 3% of poor people.

- They set goals. 80% of wealthy people are focused on accomplishing some single goal. Only 12% of the poor do this. In addition, 67% of wealthy people write down their goals.

- They have daily to-do lists. 81% of wealth people maintain "to-do" lists vs 19% of the poor.

- They read. 88% of the wealthy read for 30 minutes or more each day for education or career reasons. Only 2% of the poor do so. 63% of rich people listen to audio books during their commute.

- They network. 79% of wealthy people network five hours a month or more.

- They exercise. 76% of wealth people exercise aerobically several days a week.

- They avoid junk food. 70% of rich people eat less than 300 calories of junk food per day. 97% of poor people eat more than 300 junk food calories per day.

- They don't gamble. Only 6% of the wealthy play the lottery vs. 77% of low-income people.

- They limit their TV time. 67% of wealthy people watch one hour or less of television per day vs 23% of the poor. Only 6% of wealthy people watch reality TV vs. 78% of the poor.

- They are constantly improving their skills. 86% of high-income people believe in lifelong educational self-improvement.

- They believe hard work and good habits lead to success. 84% of rich people believe that good habits create opportunity and luck.

Only 8% of the wealthy believe that wealth comes from random good luck vs. 79% of low-income people.

Source:Thomas Corley. "Rich Habits: The daily success habits of wealthy individuals."

Corley looked at hundreds of wealthy and poor people in the U.S. and examined their daily habits.

Wealthy people were defined as people with incomes over $160,000 and assets of more than $3.2 million. Poor people were defined as incomes under $30,000 and assets of less than $5,000.

It is interesting how different some of the daily habit statistics are for wealthy and low- income people.

It seems that individual daily habits and choices can cause different results in terms of financial success and wealth.

People who work hard and are constantly learning and improving their skills often, but not always, end up having increased financial success.

Some of these significant habit differences between the rich and poor raise the question of what came first, the financial success or the positive daily habits?

We believe many of these daily habits came before the financial success for most people, and are one factor in helping cause their financial success.

Most of our clients are successful financially, and most of their success is self-created (not inherited).

Younger people (the children of our clients) who are interested in increased financial success may want to adopt some of these daily habits.

Of course, there are many reasons beyond these daily habits that can lead to financial success.

Other factors might include luck, inheritance, having good parents, having access to good schools, being in the right place at the right time, career choice, and where you live, to name a few.

Improving or changing your daily habits may have less of a positive impact on the wealth of people who live in a third world country or an impoverished neighborhood in a large U.S. city, for example.

You may be a teacher or a social worker and have all of these positive daily habits, but because of your career choice you are unlikely to become fabulously wealthy.

Adopting the positive daily habits of financially successful people will not necessarily make you rich, but it may aim you in the right direction for a healthier life and increased success (however you define success).

Many people are not interested in increased financial success, do not think it is possible for them, or do not believe it would make them happier.

That is OK. They may still find these positive daily habits valuable.

The Millionaire Next Door

Another excellent source of information on this topic is the book "The Millionaire Next Door" by Thomas Stanley.

Stanley has studied hundreds of millionaires and has similar findings. He says most millionaires live below their means. They are frugal, and their spouse is equally or more frugal.

50% of the millionaires he surveyed have never spent more than $29,000 on a motor vehicle. One of the most popular vehicles owned by millionaires is the Ford pickup truck.

80% of America's millionaires are first generation rich, meaning they earned it themselves. Wealth is what you accumulate, not what you spend.

Stanley says one of the most common denominators among those who successfully build wealth is that they allocate their time, energy, and money efficiently, in ways conducive to building wealth.

Millionaires believe financial independence is more important than displaying financial status. Stanley concludes that building wealth takes discipline, sacrifice, and hard work.

"We are what we repeatedly do. Excellence, then, is not an act, but a habit." - Aristotle

Keith Tufte, CFA
President
Adam Smith Advisors, LLC
Cherry Tree Companies
http://www.cherrytree.com

Article Source: http://EzineArticles.com/8750273

The Seven Wonders of the World

A short video from Flickspire.com

AMID the hustle and bustle of everyday life - and the many demands it places on us - it's all too easy to lose track of what's really important.

We tend to be so wrapped up in dealing with career/business issues, close relationships, family matters, social life and so much more that there's rarely time to stop and take stock.

The 'Seven Wonders of the World'  through a child's eyes

This short, free video provides just such an opportunity and is wonderfully refreshing in its simplicity.

It tells the story of the responses a teacher received on asking a class of children to name the 'Seven Wonders of the World', as the title of this post suggests.

Predictably enough, certain monuments to humankind's creativity and awe-inspiring natural phenomena are mentioned.

But it is the less obvious observations of one child that remind us all of what we should, at least, hold most valuable of all.

If you happen to be struggling with a mountain of tasks or problems at the moment, this video is the perfect antedote.

It's only a few minutes long. So put those few minutes aside and take a look. I hope you enjoy it.

Click below to be taken to the original video. And read a few of the comments already made by other viewers - equally inspiring.

Click here now ==> http://tiny.cc/xdn7mx

10 Things You Should Stop Doing To Be Successful

By Alex Strike

ARE you a happy person? How often do you think of reasons why everyone around you is successful though they are not better than you in general? What do you do wrong?

Success comes to those who wait, they say. As far as you understand, simple waiting is not enough to bring you luck, happiness and success.

Success can be yours if you stop bad practices

So, maybe it is high time to change your attitude to everything and everyone around, and stop doing those things that prevent you from becoming successful?

What are they actually?

1. Do not let others decide what “success” is for you

Different people may interpret “success” in different ways: some of them measure it in money, others in positive changes to people around them and the world in general.

If you want to be successful, do not let others force their interpretation of success on you; do not worry about what other people think, and come after what makes you happy.

2. Do not believe anything without questioning it

Successful people do not just accept any new information to be true.

They are critical thinkers, and they understand that we all (even “qualified” sources) are ruled by our prejudices; so, they will always question new information and maintain some healthy skepticism.

3. Do not worry about all unpredictable things that may happen to you

If you want to be successful, stop thinking about everything that MAY happen to you. Try to feel comfortable with the reality and accept the fact your future can’t be predicted.

Be ready to improvise and change your deeds and decisions when things suddenly don’t go according to your plan.

4. Do not feel stressed or depressed about criticism

Try to stay calm and pay no attention to negative comments or personal attacks you may get from others online.

Successful people are concentrated on making this world and people better, but they will never respond to every comment they get from foes.

5. Do not expect success to come easy or quickly

Successful people understand there can’t be any universal scheme on becoming rich, slim, loved, etc.

Do not expect that all those “lose 10 kilos for 3 days” or “get rich in a month” will work for you: you are an individual, you have your own pace, you should find your own way to your success.

6. Do not wait for the “right time” to do anything

Do not hesitate chasing your ambition, because there will never be the “right time” to do anything.

Successful people perfectly understand this fact, and you would probably agree with it when you tried to remember how many times you postponed doing things after telling yourself something like “it’s not a right time for this now”.

7. Do not ignore problems

Successful people never ignore or avoid problems, no matter how big and awful they seem; because they understand if they put a problem off it will not disappear but turn into a bigger one.

So, try to confront your pressing concern as soon as possible.

8. Do not be afraid of responsibility

There can’t be a successful person without responsibility.

Yes, we all are people and we all make mistakes, but if you want to be successful you should always accept responsibility for your words and actions.

9. Do not care about what other people think of you

As far as we all know, it’s impossible to please all the people who surround us. Your attempts to become “good” for everyone will turn into nothing but new worries, stresses, and problems.

Successful people do not concentrate on quantity of people to please, but worry about their quality and focus on developing friendships with people they really care about.

10. Do not forget people who are important to you

It does not matter how busy a successful person is, they will always find time to care about their families, friends, and all other people who are really important to them.

Your business can’t be an excuse of your indifference. Success is good, but you should understand that life will get depressing without friendship and love.

Alex Strike is a freelance writer and a passionate blogger with over 5 years of writing experience who is honored to be a guest contributor to many websites, including Bid4Papers, Lifehack.org, ProBlogger.net, GetMotivation, and others.

You can always find more his works and reach him on Google+.

Article source: http://tiny.cc/ie03mx

How To Stop Procrastinating Right Now

By Peter Field

IT'S thought that 95% of all people procrastinate at some time, delaying tasks they feel too difficult or trying.

But using avoidance strategies like checking Facebook or ringing a friend increases the sense of stress and anxiety, and provides no real answer to the problem you're facing.

Put an end to procrastination

The fastest way to gain emotional and mental relief is to understand the reason why you're procrastinating -- and then take steps to resolve the issue.

Why Are You Procrastinating?

The best way to stop procrastinating is to understand why you are doing it. Everyone has different reasons, and it has nothing to do with being lazy, or unfocused.

It might have something to do with your perception of the level of discomfort or difficulty associated with the task you are procrastinating over.

Anxiety and fear are most often related to our reaction to an imagined future - to events which have not taken place.

It might be that this particular situation is bringing up some aspect of you that needs looking at and resolving.

Are you afraid of failing? Are you afraid of success? Are you coming up against your lack of confidence in yourself?

These are normal, and common. End the denial and recognize what's really happening for you - and then be willing to work on that and let it go.

Look back for a moment and consider the times in the past when you believed something to be almost impossible, and you went ahead and accomplished it anyway.

Many people have found self hypnosis recordings to be particularly helpful in ending procrastination and moving forward.

Active Procrastination

Usually we feel bad about procrastination, but according to research it may not always be a bad thing.

There are two types of procrastination: active and inactive.

Active procrastination is when you put off a task to study, gather resources and information, so when the deadline looms you are ready to use the pressure to produce good results.

Inactive procrastination is when you simply avoid a task by doing and thinking about something else, till finally the deadline forces you to sit down and do the work, even if you are completely unprepared.

According to research from Columbia University in New York, USA, active procrastinators experience no confidence problems or anxiety.

They achieve better end results than inactive procrastinators, even when procrastinate for exactly the same amount of time.

So if you know you tend towards procrastination, perhaps it is an avoidance strategy just waiting to be transformed into a strategy for success.

Break down tasks. It is so easy to procrastinate when a task feels complicated, or even titanic in size.

Create a timeline on a piece of paper with one dot representing where you are now, and another dot representing where you would like to be.

Next, put a dot halfway between the first two dots. This one represents the middle, when you're halway to your goal.

What, specifically, is that halfway point? A word count? An amount of money saved?

Once you have decided what it is, create another dot between the first dot and the middle point. This is the first leg of the journey.

Next, place a dot between the halfway dot and the final dot. What is the specific milestone lying between the middle and the end of your goal?

Congratulations! You have created a working timeline that can be broken down even further into smaller monthly, weekly or daily chunks as needed.

Get Rid of Distractions

Getting rid of distractions is an important step in stopping procrastination.

Following the advent of social media like Twitter and Facebook, I am not sure how anyone anywhere gets anything done at all anymore.

If you can't resist the pull of your favorite social media, try turning the Internet off, or if you need the Internet for work, get one of those software programs that allows you to block certain websites of choice.

Check for Internet browsers that have this function also.

Answer only those phone calls that are important, and confine yourself to answering emails at a specific time of day.

E-mail is a huge time-drain, so to reduce the risk of procrastination, elect a specific appointment with yourself for looking at the e-mails and turn off the instant notifications. Make it fun!

Experiencing things as fun - finding the fun in them - doesn't necessarily just come at you. 'Fun' doesn't fall from the sky.

It is a quality that we bring to our experiences and our interactions with the world around us.

If you have a deadline, a project, or a goal that you are putting off, maybe it is feeling all too serious and too heavy? Shake things up. Sit down and don a beach hat and bright Hawaiian shirt.

Or a football or ice hockey shirt. Or a Star Wars outfit. Can you sometimes take your work outside, into the daylight?

Treat yourself to your favorite snack food, like fresh strawberries, or crackers with hummus. (Just make sure you don't overdo it.)

What about music? Music can support study and aid concentration - but it has to be music you enjoy. Some people work really well to Mozart, while others get into the zone with Metallica.

The trick is to not leave all the rewards for once you have completed the task or goal.

Award yourself smaller treats as you complete tasks, and make sure you have something waiting for when you have finally completed it.

What might be done in order to make the process more enjoyable in some way?

You do not really need to be stuck. Use these strategies and you'll find yourself moving forward in exactly the right direction.

Peter Field is a British hypno-psychotherapist and counselor. His  hypnotherapist in Birmingham website contains more of his interesting and helpful articles.

Peter's powerful  End Procrastination Now MP3 download and CD and other hypnosis recordings are now available.

Article Source: http://EzineArticles.com/8101456

5 Reasons Why Saying "No" Works

By Dr Jaime Kulaga

IT isn't always easy to say "No." Whether fear, guilt, or any other reason stops us, the reality is, the word "Yes" has this great way of flying out of our trap with little thought behind it.

Although we see women as harboring guilt and fears about saying "No", the truth is, both men and women struggle to use this simple, but powerful, two-letter word.

Never be afraid to hit the 'No' button

Here are 5 reasons why saying "No" works:

1. You get to focus on your current goals

By saying "No" to additional roles and tasks, you allow yourself to focus on your current goals.

Often, small tasks, given to us by "Big" people, quickly turn into barriers toward our current goals and consequently hinder our progress.

For example, if a boss offers you a project to take on and it does not offer much incentive for your position, or could hinder your progress toward other goals that he/she previously created with you, you might want to decline the offer.

Instead of telling a boss "No, I can't do this, I don't have time," turn this moment into an opportunity for you.

Schedule a meeting with your boss and bring to their awareness what goals you are already striving toward.

During this meeting, show them your current progress, how far you have come and the importance of successfully completing the goals already in progress.

Having too many goals and minimal attention provided to each, you will find increase stress, less confidence and could quickly burnout.

As you complete your goals already in progress, you are going to feel more empowered, self-confidence and excited for the next challenge.

Saying "No" works because you can focus on your current goals.

2. You maintain your credibility

By taking on an opportunity that you don't have time for, you risk under-performing, thus hurting your reputation and credibility with a superior, friend or loved one.

You want to make sure that if you choose to take on a task, you are committed to excellence, whether it is in business or your personal life.

If you can't commit to a top performance, saying "Yes" will come around to hurt you in the end. Worse, sometimes saying "Yes" hurts what you have worked months or years for, like trust or status.

Saying "yes" not only jeopardizes your current goal progress, but also, if you perform poorly on the new task, you could be seen as not competent in a certain area.

What can really hurt our credibility is when we say "Yes" to a task, and then back out later. You may get to a point in a project where it becomes too much work and you can't balance.

When you say "Yes" to something, people are putting their trust in you. In this case, if you pull out of the task, people may not see you as trustworthy and thus you lose credibility.

You may also risk losing future opportunities they could offer you. Saying "No" works because you maintain your credibility.

3. You free up time for bigger opportunities

Often people say "Yes" to taking on extra tasks because they think they will not be offered more opportunities in the future.

If you politely and respectfully decline opportunities, those same people, in the future, will offer you another opportunity.

People like people that they can trust and believe are honest about their commitments. Also, as you use your time to complete current goals, you will find upon completion, the next door opens.

This door will offer more opportunities and potentially even some more rewarding ones.

If you truly fear saying "No" because of the potential loss of opportunity, then instead of putting opportunity off on others, start creating it yourself.

If you want more opportunities, go find them. You will find them all around you. You can't simply say, "I wish I had more opportunity" and then sit there and complain that you don't.

You have to diligently work to make your mind see more opportunities than problems in your life. Look at everything in your life as having the potential to move you forward.

Think about the situation above regarding the employee who did not want to take on another task.

She/he could have complained but instead saw this as an opportunity to show their current goals and successes. Saying "No" works because you free up time for bigger opportunities.

4. Saying "No" shows self-discipline

As we say "No" to taking on tasks that we can't or shouldn't add to our plate, we are disciplining ourselves.

Saying "No" teaches us to avoid impulsiveness in decision making and also to put our priorities in place. As we say "No," we are teaching our minds to think before we act.

If we think getting in over our heads with multiple tasks and projects can be overwhelming, think about how saying "Yes" to major purchases or life changing events could harmful to your mental, physical and life state, even more so.

Discipline yourself by making a habit of thinking before you say "Yes." Saying "No" works because it shows self-discipline.

5. Saying "No" conveys the ability to set boundaries

As you say "No," you are also setting boundaries with people who think they can walk all over you, take from you, or mistake your kindness for you being a doormat.

By freeing yourself from taking on everyone else's tasks, you are allowing yourself to advance your life and/or family.

You will also find more overall life fulfillment when you are pursuing and focusing on your personal goals and desires. Saying "No" works because it conveys the ability to set boundaries.

Dr. Jaime Kulaga is the author of Type "Superwoman: Finding the LIFE in Work-Life Balance - A Self-Searching Book for Women".

She is the inspirational founder of the nationally known SuperWoman Workshops.

Dr. Kulaga has been featured in Forbes, Glamour, Self and Prevention magazines as well as the national show Daytime for her expertise in Work-Life Balance. http://www.mindfulrehab.com

Article Source: http://EzineArticles.com/8734253