I must try to build up this 16 Rich HABITS in order to be rich.
16 Rich Habits
▲Spend no more than 25 percent on housing, no matter if you own or rent.
▲Spend no more than 15 percent on food.
▲Limit entertainment—bars, movies, miniature golf, whatever—to no more than 10 percent of your spending. Vacations should account for no more than 5 percent of your annual net pay.
▲Spend no more than 5 percent on auto loans, and never lease. Ninety-four percent of the wealthy buy instead of leasing. These folks keep their cars until the wheels fall off, taking great care along the way so that they save money in the long run.
▲Stay away from accumulating credit card debt. If you are doing this, it’s a clear sign that you need to cut back somewhere.
▲ Think of savings and investments as two completely different things. You should never lose money on your savings. Try to stash six months of living expenses in an emergency fund in case you lose your job or your business goes belly-up.
▲ Contribute as much as you can afford to a retirement plan. If you work for a company that matches your contributions up to a certain percentage, great. Always take that free money when you can get it.
▲ 63 percent listen to audiobooks during their commute.
▲ 79 percent read educational career-related material.
▲ 55 percent read for personal development.
▲ 58 percent read biographies of successful people.
▲ 94 percent read current events.
▲ 51 percent read about history.
▲ 11 percent—only 11 percent—read purely for entertainment purposes.
▲ Create daily “to-do” lists. These are your daily goals. You want to complete 70 percent or more of your “to-do” items every day.
▲ Have a “daily five.” These activities represent the crucial things that will help you get closer to realizing some major purpose or goal.
▲ Set and communicate artificial deadlines. There’s nothing wrong with finishing early.
▲ Have accountability partners. These are people you team with to pursue a big goal. Communicate with them at least every week, and make sure they hold your feet to the fire.
▲ Say a “do it now” affirmation. This is a self-nagging technique. Repeat the words “do it now” over and over again until you begin a task or project.
1. Make a list of everything you can remember that made you happy.
2. Highlight those items on your list that involve a skill, and identify that skill.
3. Rank the top 10 highlighted items in the order of joy they bring to you. Whatever makes you happiest of all gets 10 big points.
4. Now rank the top 10 highlighted items in terms of their income potential. The most lucrative skill of all is worth 10 points.
5. Total the two ranked columns. The highest score represents a potential main purpose in your life. Presto!
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