financial habits that will make you rich


Have you ever wondered why money seems to naturally come to some people? Have you wondered why they have money and you don’t? I used to think money was all about luck, but it’s not! Sure, it can be. But there are financial habits that will make you rich if you can implement them into your life. And I have good news… these habits are actually pretty easy. We started implementing these strategies about 18 months ago and have been able to knock out about $200k of student loan debt because of some of them!


Set financial goals and look at them every day. 

One of the most important financial habits that will make you rich is simply to set financial goals and spend a little bit of time reviewing them every day. Write them down and be as specific as possible. For example, if one of your financial goals is to buy a house, what are some of the things you want in a house? How much does that house cost? Where is it located? Be as specific as you can with each of your financial goals and review them every day.

Save more than 10% of your income. 

Another easy financial habit that will make you rich is to start saving 10% of your income– minimum. Even if you don’t think you can afford to save that much. If you seriously cannot afford to pay yourself 10% of your income (for example, if you have six figures of crippling high interest student loan debt you are trying to get rid of cough cough like us cough cough) start by saving ANY amount of your income. Maybe even as little as 1%. Start saving now and get in the habit of saving.

Pay yourself first (automate) 

The easiest way to save more than 10% of your income is to start by paying yourself first. As soon as you get your paycheck, put 10% of it into savings. A great way to do this is to automate a payment to your checking account, that way you don’t have to think about it and you’ll never miss the money since you hardly had the chance to see it.

Save more than you spend 

And if you really want to become rich, save WAY more than 10% of your income. Eventually, you’ll need to save more than you spend. Saving more than you spend is KEY to becoming (and staying) rich. It’s not that you have to hoard piles of money and never spend a dime, but getting in the habit of saving more money than you spend will enable you to create wealth beyond your wildest dreams.

Delay gratification

Another important financial habit you should develop is to delay gratification. If you want something you don’t necessarily need, you should wait 24 hours before purchasing it. If you still want it after a little time has passed, go for it! But a lot of times purchases we make in the moment end up being things that we don’t actually want. It was just the impulsive moment! Learning to delay gratification makes all the difference between being rich and being poor.

Start saving early 

Another habit that will make you rich is to start saving early. The younger you are when you start saving money, the longer it has to grow and earn interest. The key here is, however, making sure your money is in an account or other investment where it will accrue more interest to not only keep up with inflation, but to create a surplus over time.

Have multiple streams of income. 

Most millionaires have one thing in common– they have multiple streams of income. Does that mean that you need to take on 6 jobs and never see your family again or enjoy any hobbies? Of course not! Some of the streams of income will be passive. In other words, you’ll be making money without doing much, once your income stream is up and running. One example of this is investing in rental income properties. You spend time and money investing into properties, but once they’re up and running it doesn’t take much work to maintain your properties (and or, you can hire a property management company to do the work for you). If you are looking for ways to increase your income, check out our Increase Income page for some ideas.

Ditch your debt. 

Do you know what most rich people don’t have? Debt. Getting out of debt is one of the best ways you can become rich. Spending money on interest is such a waste. Depending on how much debt you have and what your interest rates are, eliminating debt is most likely the first habit you should implement when developing these financial habits. Not only will you have more wealth when you ditch your debt, you’ll have the peace of mind that comes with living debt free. Don’t know where to start? Grab a copy of our FREE Debt Payoff Starter Kit here. It’ll painlessly teach you how to get out (and stay out) of debt.

You can also check out our Debt Help page which has tons of ideas for getting out of debt.

Getting rich is not all about luck! Instead, it’s more about your financial habits– spending habits, creativity, and willingness to take action! These are strategies that we are currently implementing which have helped us pay off more than $200k in the last 18 months. I firmly believe that *anyone* can become rich, all you have to do is change your habits.

What are some of your financial habits that have made you successful? I’d love to hear from you!

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easy financial habits that will make you rich

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