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What you do today matters.

And actually, your daily habits are a determining factor in how successful you become.

Thomas Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals likes to call this “the avalanche”

He says these habits are like snowflakes – they build up and give you an avalanche of success. 

You see, Thomas spent five years studying the habits of millionaires.

He managed to identify two types of habits: 1. Rich Habits and 2. Poverty Habits – meaning the tendencies of those who fit in each group.

But here’s the thing:

Everyone has a combination of wealthy habits and poverty habits. The key, though, is to learn to develop 50% or more of the rich habits.

You can do this.

The truth is, most millionaires aren’t driving Bentley’s and chartering yachts. 

They’re thrifty, smart with their money, and they budget.

After years of following that simple formula, they become rich. 

Ready to dive in?

1 | Joneses Who?

business man office desk

Let’s face it.

We’ve all been there.

Have you ever fallen into the trap of lifestyle inflation? Maybe you’ve put things on a credit card that you didn’t need?

Think about it:

Millionaires don’t keep up with the Joneses.


Because the Joneses are broke. They’re living a life they can’t afford. That’s not the millionaire lifestyle.

Instead of focusing on status, millionaires focus on financial freedom, independence, and happiness.

Most millionaires will tell you that acquiring more stuff doesn’t lead to happiness.

When you’re 80 years old, do you think you’ll be worried about that nice car you drove when you were 30?

This might surprise you:

Only 1 in 4 millionaires have spent $100 on a pair of shoes.

Louboutin, who?

One key distinction between the rich vs poor mindset is the ability to hit the pause button on low-value purchases.

Next time you’re tempted, you should ask yourself:

Will I use it?

Do I want to store it?

Do I want to clean and/or maintain it?

Would I rather put the same money elsewhere?

If you ask yourself those 4 questions, you’re bound to be smarter with money.

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2 | They’re Avid Readers

woman reading

Have you read anything good lately?

As Jim Rohn once said, “Reading is essential for those who seek to rise above the ordinary.” 

If there’s one thing that’s true about the habits of millionaires, it’s this:

They have a constant desire to learn. 

88% of them devote 30 minutes a day or more to self-improvement and self-education.

They read things like this to help them gain and acquire knowledge. They don’t rely on Facebook or Twitter for the latest news.

To them, self-development books are much more important than the latest reality show.

They turn “unproductive” time into something productive.

(Like by listening to Audible during their commute or lunch breaks.)

You see, the average millionaire reads at least 2 books every month. How many does the average non-millionaire read? 

Only 4 a year.

Note: the Audible link gives you a 30-day free trial and 2 free audiobooks

3 | They Don’t Waste Time

clock hanging on wall

Time flies, doesn’t it?

You get 1,440 minutes every day, and you’re ultimately in charge of what you do with them.

But those 1,440 minutes go fast, and next thing you know…

It’s bedtime again.

So before you let your minutes and hours drift away into a myriad of little things, wake up to the real purpose of your life. 

Time is a resource we can’t get back. This. is. it. 

67% of self-made millionaires spend less than an hour watching TV each day.

63% spend less than an hour a day on social media.

Instead, they spend that time pursuing their goals, dreams, reading, learning, exercising, volunteering, and networking. So how can you be more productive?

4 | They Have Multiple Streams of Income

man showing money in wallet

Think of this in terms of a fisherman with one line cast versus a fisherman with three lines.

Who’s going to catch more fish?

One of the most important habits of millionaires is that they don’t place all their eggs in one basket.

The more sources of income you bring in, the more potential you have to rake in bigger paychecks.

And it helps with economic downturns.

Unexpected expenses pop up.

Economies tank.

Medical expenses happen.

The average millionaire has seven streams of income.

Not only does it increase their wealth, but it offers them opportunities to develop new connections with people.

These connections are what lead to better opportunities and growth. It earns them more money and puts them in new places with new people.

5 | They Think BIG Picture

goals written on wallet

Several years ago, Harvard University did a research study about goal-setting.

They asked students if they had set specific, written goals, as well as if they’d made clear plans to achieve them.

Can you guess what they said?

  • Only 3% had written goals and plans to achieve them
  • 13% had goals in their heads but hadn’t written them down
  • 84% had no goals at all

After 10 years, the same group of students were interviewed again. 

The results were surprising:

The 13% of the class who had goals, but didn’t write them down, earned twice the amount of the 84% who had no goals. 

And the 3% who had written goals were earning, on average, 10 times MORE than the other 97% of the class combined.

This is an example of how goal setting will transform your life.

Millionaires process success. 

Here’s the thing:

Goals are only goals when they have written plans to achieve them.

And if you keep a calendar and a to-do list, you’re 289% more likely to become a millionaire versus if you don’t.

So what are you waiting for?

6 | They Wake Up Early

cup of coffee

If you want to know the secrets of the millionaire mind, it all starts with waking up before 6 am.

Across the board, I found this to be one of the most consistent habits of millionaires.

One study found that almost 50% of millionaires wake up at least three hours before their workday starts.

Why should you do that?

Because when it’s early in the morning, you’re less likely to be interrupted. No one is going to call or text you, there aren’t any meetings, and you don’t have to worry about emails flowing in.

It’s pure you time. And that’s why the first two hours after waking up are often called “the golden hours”

Use them wisely.

7 | They Track Their Spending

man writing his budget

Wait, rich people track their expenses too?


It doesn’t matter how many zeros they have on the end of their money, they still make sure to manage it.

They have full control of their financial future. 

If you’ve read The Millionaire Next Door, then you know that most millionaires know how much they spend on groceries, gas, and every other household line-item.

“Planning and controlling consumption are key factors underlying wealth accumulation … Operating a household without a budget is akin to operating a business without a plan, without goals, and without direction.”

8 | They Delay Gratification

man calculating bills

Everyday millionaires spend most of their lives sacrificing short-term wants for long-term success.

They have no problem buying a used or older car. They live in a modest home. They don’t need the latest iPhone.

Still with me?

86% of luxury cars are driven by non-millionaires. Rich people are more likely to buy Toyotas, Hondas, and Fords.

Because the quickest way to be middle class (and stay there) is to keep the never-ending payments.

Delayed gratification is one of the most effective personal habits of millionaires.

People who learn to manage their short-term desires thrive more in their careers, relationships, health, and financial lives.

9 | They Hang out With High-Achievers

man and woman shaking hands

The people you surround yourself with matters. Did you know that your net worth mirrors the level of your closest friends?

Winners are attracted to winners. We become the people we spend time around.

And so one of the hallmarks of self-made millionaires is their conscious effort to associate with like-minded people.

They don’t hang out with people who spend money like they’re in Congress.

If you want better habits, then hang out with better people.

10 | They Invest

dollar bills in ground

Most millionaires invest about 20% of their income.

And more importantly?

They focus mostly on good growth-stock mutual funds that average a return of 10-12% over a 20 year period.

They also keep track of their investment decisions instead of putting their money on autopilot. 

New to investing? I highly recommend watching this short (less than 3 minute) video from Dave Ramsey about smart investing as a beginner:                                                  

And yes, retirement contributions count as investments – so start while you’re still young!

11 | They’re Satisfied

business woman looking at laptop

“I made myself rich by making my wants few.” – Henry David Thoreau

Millionaires have learned to be satisfied with what they have.

They don’t care to impress people. And that is what helps lead to their happiness.

Gratitude builds happiness. They are content with the life they’ve built for themselves.

They find ways to improve that doesn’t involve having the nicest car or biggest home. They realize it’s not a good deal if they don’t need it.

Millionaires aren’t winning because they’re lucky. They’re winning because they follow these simple habits on a regular basis, throughout their lifetime.

So despite misconceptions, these are the most common habits of millionaires.

Little by little, these things add up.

What do you think?

Thanks for reading.

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When it comes to understanding the millionaire mindset, you need to learn the self-improvement habits they development. If you've ever wondered how they become financially successful, this article will help inspire you to manage your money better. #moneytips #money #personalfinance #finance


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