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6 Millionaire Habits That Changed My Life
The beauty of the times we're living in today is that there's so much evidence out there for what it takes to become a millionaire.
You don't ofcourse need to chase becoming a millionaire just for the status symbol.
With the right heart, becoming a millionaire can not only be life changing for you, but for others too 😀.
I see it is as a good thing for that reason.
So today I'm gonna be speaking to you about these various habits that I've researched.
These are based on actual millionaires who have become self-made over time. They haven't inherited money or anything like that.
I also want to share real life experiences on how these habits have had an impact on my wealth building journey with my wife, Mary.
It is my hope that sharing my experience will help you gradually adopt these habits to aid your journey towards building some wealth.
Let's dive in.
6 MILLIONAIRE HABITS THAT CHANGED MY LIFE
Now let's explore these six millionaire habits that completely changed my life.
1 – Millionaires Hang Out With Other Successful People
The first habit to mention is the millionaires hang out with other successful people.
What I'm talking about here specifically, is this habit of networking 🤝.
Now, networking is something that we're all aware of and we know it's something that we should be doing in our lives in some way.
Oftentimes, when you hear people talking about networking, it's talked about as though it's quite an easy thing to do.
I've been guilty of doing that myself.
But I wanted to be more practical today and just give you a real-life example of how I've been able to network and see this whole idea of hanging around other successful people help me out in my life.
Recently, I met a guy and we got on really well.
But for me to have met him in the first place, there had to be a bit of reaching out to be done.
I had to reach out and just say, “hi, I've heard your podcast and I've seen you on YouTube and I just wanna connect”.
What was interesting, is that I was not reaching out because I wanted anything necessarily.
I liked who he was and I noticed that we had similarities when it came to our core values.
This whole idea of networking is an interesting one because what you find is that you tend to gravitate towards people who have quite similar values to you.
They might have similar positive vibes, similar levels of energy, or similar goals and ambitions…
…and that is why you find millionaires hang around with other people because they are also goal orientated.
They want to hang around with people who are also into similar things.
In this example I'm giving you, I'd formed a friendship which was cultivated over time.
Then one day, the guy invited me into another group where I met other successful faith-led entrepreneurs.
I thought it was interesting that I got invited to that group.
Within that group, I started to get to know other people, both guys and girls.
And that then started to evolve into other relationships.
For example, I recently had to write an article for the Financial Times, and needed to interview successful entrepreneurs.
You can probably guess where I went to first, right?
I went back to the same people in that group of entrepreneurs that I got invited to 😀.
As soon as I asked a question, one of them raised her hands and helped me out as a contributor to the article.
After writing the article (and this is the key point about networking), I asked the lady who I interviewed from within the group if she knew anybody else she who thinks I should interview as well.
She then connected me with somebody else of a similar mindset as well.
So networking is really all about putting yourself out there in the first place.
When you do get in contact with somebody who's got similar values, goals and ambitions, you then want to try and build upon that relationship.
Not just taking from them but also sowing into their lives and they will then look to connect you to other people who also have the same mindset and outlook as you.
2 – Millionaires Practice “Dream Setting”
The second habit of millionaires that has changed my life is this habit of practising dream setting.
I recently found a quote from Business Insider and it said:
“Dream setting involves scripting your ideal future life. And in this process, you would define your future life and in your future, you're imagining all your dreams coming true. Then you put it to paper in 500 to 1000 words.”
Now this one speaks to me because I am someone who, over time has realised the power of writing down my thoughts.
I've found that this is something that my friends do also.
I often end up having conversations with my friends about what their dreams are, which I think is a pretty healthy thing to do.
You know, not many people in their friendships actually talk about their dreams.
Most people just talk about simple and quite trivial things like…
“oh, what's the weather like?”
“what holiday have you got booked?” and things like that.
But it's good to talk dreams in environment where you are deeply supportive of each other 😎.
Doing that in an environment of trust with people you like, and people who you're also supporting is really, really powerful.
And I find that whenever I do that with my friends, it just helps me not feel so lonely on this journey of doing what we do.
Believe it or not, being an entrepreneur and trying to fulfil your life's vision can get very lonely.
But if you have other people who are also on the same journey, who have a similar mindset, who are also dreaming, and having visions for what they want to achieve, talking in that sort of environment reinforces that habit.
It also strengthens the relationships that you might have with these people who you might have in your life as well.
3 – Millionaires Pursue Their Own Dreams and Goals
I have learned many things on my personal journey.
Whether it's been through my professional career or my entrepreneurial journey…
I've watched a lot of people along the way – work colleagues, ex-bosses or friends, etc.
One thing I've noticed with quite a lot of people who I have seen on my journey is that they're typically living the dreams of other people and not quite living life how they truly want to do it.
If you sat them down, and ask them the questions like:
- What do you really want to get out of your life?
- And what is it you are hoping for?
- What is it you really, really wish would happen in your life?
You'd find that quite a lot of people have a completely different picture that they desire and want to actually live a completely different life.
The thing I've learned on my personal life and journey and I've seen this with other people as well is that:
The people who focus on truly living out their goals and truly pursuing their dreams have the opportunity to create long term happiness and the biggest opportunity of wealth accumulation in their lives.
I know there's a lot said out there about pursuing your passions.
Some people may say to you, “Oh, don't pursue your passions”.
Other people may say to you:
“pursue your passions” or “pursue your talents” and things like that.
What I've learned is that following what you love doing, something you enjoy doing makes this whole journey fun.
It puts so much energy and persistence into this journey of potentially becoming a millionaire (if you so desire).
Such that even if you had some obstacles along the way, even if you failed along the way, you are far more likely to persist on your journey towards becoming a millionaire one day.
4 – Millionaires Make It a Habit To Be Positive
Research has shown that positivity is the hallmark of self-made millionaires.
This is a powerful point.
I don't know about you, but I've come across a lot of people on my journey, some people are just naturally positive or they make it their business to focus on positivity.
On the other hand, I've come across people, in fact, I have an old friend who lots of time I'd speak to him, he would be very negative in his life.
I noticed that this outlook would always drag me down.
Negativity is Draining 🚩
Whenever I spoke to him, I'd feel like a lot of my energy would be drained by simply speaking to him.
Whereas, whenever I spoke to my other friends, such as a good friend of mine, called Sarah, I felt very, very positive, I'd come out of that conversation, looking into the future, really, really excited.
Positivity is Inspiring 💛
The habit here is forming positive thoughts and almost arresting every thought that comes into your sphere.
If you find yourself focusing on a negative thought, it's about developing that habit to say, well, actually, this negative thought is not something I want to focus on.
I have the power to push that negative thought away from me and I have the power instead to focus on positive thoughts, thought of things that are yet to come, that will work in my favour.
It's one of these similar lines of thought that you hear people talking about when they focus on having an abundance mindset rather than focusing on having a scarcity mindset.
It's all connected to the same thing.
But the key to forming this habit of positivity is down to awareness, being aware that you have the power within you to focus on positive things, positive outcomes in your life rather than dwelling on negative outcomes in your life.
5 – Millionaires Find and Check In With Mentors
Successful mentors are actually meant to do a lot more than just positively influence your life.
They're meant to actively participate in teaching you the things that you should be doing, and also tell you the things you should be avoiding as you go from point A to point B in your life.
Mentoring is all about hand-holding, in many ways.
I've done mentoring myself for many years, and I've mentored many people on my journey so far, by just simply volunteering and sharing my time.
You might think that this journey of mentoring is all about you getting something from a mentor.
Over time the mentor who's acting in that capacity and mentoring you is also getting something out of that relationship.
It's a symbiotic relationship that happens.
So if you're someone who at the moment is on the journey, perhaps at the beginning of your journey towards building some wealth, I'd highly recommend asking yourself, who do you admire in your life right now?
You would be very surprised that many people will be open to mentoring you if you ask them.
Get a Mentor Challenge
A lot of people don't take the steps to reach out to somebody and say:
“Hey, I know you're very busy, I know you have a lot of things going on. But how about if you've mentored me for maybe 30 minutes a month, something like that?”
You'd find that quite a lot of people may see mentoring as a way to give back.
So if you are thinking to yourself, I don't have a mentor in my life, then a key action point for you would be to look around your life.
Look for somebody you absolutely admire and make it a point in the next 24 hours to just reach out to them and ask.
The worst that can happen is that they say no, but guess what?
They might say, yes!
And that could be the thing that really changes that trajectory for your life, whether it's about you having more happiness in your life, or whether it's about building wealth in your life.
Someone recently asked me to mentor them on our Instagram and I said yes! Simply because they had the guts to ask and not assume.
Whatever it is, a mentor, depending on how you approach that relationship, and how much you sow into that relationship can do a lot to help you realise the outcomes that you want in your life.
6 – Millionaires Don't Follow The Herd
You might have heard the phrase, “the herd mentality”.
A lot of people tend to do what most people are doing.
It's very interesting when you think about it, particularly in our consumerist culture today.
Advertising or messages that are put out really influences the masses.
What you find is that for most people, the actions that they take with their money are driven by what they see other people doing.
The thing I've loved about our personal journey towards financial independence is that we've done what we wanted to do.
I could have carried on doing life like everybody else shuttling into the city, pursuing a ‘nice' career and all of that stuff without actually asking myself,
- What sort of life do I really want? Conventional vs alternative?
- If I want an alternative life, why do I want it?
- Am I prepared?
- Do I have the guts to follow through with what I want for my life?
That is really what starts to separate you from the herd.
Being able to ask yourself important questions.
It's almost like self-evaluation, tied to self-awareness.
i.e. really understanding who you are, what's important to you, and most importantly, what's not important to you.
I heard a quote that speaks to this.
And it says,
“failure to separate yourself from the herd is why most people never achieve success”
This is true, as hard as it is to take in. It's absolutely true.
I've seen on my own journey, that if you begin to say to yourself, I am going to choose to do X because of Y in your life. i.e. choosing to do something because of something else.
You've determined why doing something's very important to you not because everybody else is doing it.
E.g. Not because everybody else is driving a nice car or not because everybody else is going on holiday.
You're choosing to delay gratification, for example, because you understand what's important to you.
You are very confident where the vision for your life is taking you.
If you're that sort of person and you find yourself standing your ground like that…
….then I can pretty much guarantee that you are on your way to becoming one of those people who will one day look back and say that they've become a self-made millionaire 😊.
More Millionaire Habits resources here >>
- Explore our mission to help 10,000 people achieve Financially Independence
- 5 Sacrifices We Made In Our 20s To Be Financially Independence In Our 30s
- The Unstoppable Power of Being Intentional
- The Case for Commitment
Watch a video of this blog post on Millionaire Habits here >>
What habits are you currently trying to cultivate and track in your own life at this very moment? Please comment and share below 😀
As always, in all things, be thankful and seek joy.