Manage Your Life

Friday, December 4, 2009

6 must-have millionaire habits

Acquiring wealth isn't a priority for everyone, but it's safe to say that most of us want to live comfortably. Whether you're striving to gain a financial peace of mind or shooting to be a cash money queen, these six basic habits of millionaires will help you land on your feet.
  • Learn From Your Mistakes - Don't dwell on the mistake, focus on the lesson. Many of the wealthiest Americans on this year's Forbes 400 list endured some tough obstacles in their careers, but they learned from those experiences to keep them on the right track later on.
  • Look For Value - People who have money to spend don't skip the process of comparing prices and seeking out deals just because they can technically afford to pay for the most expensive item. They look for value.
  • Find Your Niche - Think you'll hit the jackpot by doing something everyone else can do? Not likely. Most people who earn big bucks have found a niche that increases their demand and therefore, their paychecks. Not sure what your niche is just yet? That's OK, for now, work on becoming indispensable at your job.
  • Be in Control of Your Money - If you're not paying attention to where your money is going, then you're not in total control of your money. People who accomplish their goals get there by understanding how their spending habits, debt, and assets play into the big financial picture. Educate yourself on money matters and be accountable for your personal finances.
  • Avoid Frivolous Fees - People don't build their nest eggs by letting pointless fees slide. Familiarize yourself with the policies of anyone with the ability to charge extra — banks, credit card companies, your cell phone provider, you name it. Those fees add up to money in your pocket.
  • Believe in Yourself - Of the wealthiest Americans on this year's Forbes 400 list, 274 of them are self-made. Luck may have played a small role here and there, but in most cases it was about taking calculated risks and standing behind ideas, even when others are critical.
Related Content:

How Did Self-Made Million- and Billionaires Get Their Starts?
Global Rich List Wants You to See How Rich You Really Are
11 Golden Rules to Live By
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From the Community…

Comments 1-10 of 68
  • justokay's Avatar
    Posted by justokay Fri Oct 16, 2009 5:07pm PDT

    I did the Global Rich List - wow - I didn't realize how good I have it. Do you think that's true? Or are they just trying to get you to give to charity more?

    Report Abuse
  • Mrs. Carol B's Avatar
    Posted by Mrs. Carol B Sat Oct 17, 2009 4:48am PDT

    Wow, I fit all these criteria........WHERE IS MY MILLION. I'd like it now, please.

    Report Abuse
  • susan's Avatar
    Posted by susan Sat Oct 17, 2009 8:12am PDT

    i have started a journal; with titles of 1)events 2) feelings 3) thoughts

    somehow this has help me put importance where it is needed and dust off the rest!!!

    event; my youngest child is going through domestic abuse from her ex- husband and her children 14 & 7 also have been abused by thier father.

    feelings; hurt shame upset anyone could hurt my family

    thoughts; when jennifer was a child and i was raising the children alone she was 7 i would ask her to come over to the sofa with me and lay her head down in my lap i would sing her a lullaby;last night she was terrioris by her soon to be ex-husband ; now she is 37; yet i felt she is my child , so i asked her to do the same as she did as a child when she was afraid come over here lay down on the sofa with me let me just sing a prayer lullably and let me just run my hands through your hair close your eyes and try not to think of anything. so she was so upset she just did what i asked and i began, singing a prayer lullaby.

    here it goes; may there be angels always watching over you;keep you safe and out of harm; may jesus bring you love happiness;to the end of your days.may there be always angels watching over you& safe from all harm.

    let angels surround you wash your tears, fears away. let the angels sit up all night protecting you while you sleep; let this make you feel safe and rested through the night.god is here stretching his arms out to hold you ever so close his love will keep you brave and strong. his love can heal us of our sorrpws and tears and storms if only we believe he is here,

    with us. feel his presence through my fingers lightly touching your hair. god is guiding the fears, tears ,away in our head; asking his angels to dance in our dreams to make us feel safe ,happy free, just rest now everything will be ok for god is blessing you jenny just believe he is here to rush the bad away and let god come in and shine on our minds and hearts tommorrow will be ok another day for god to shine on us and show us the way.. i so hope if ever it is possiable to help someone with a child like lullaby prayer you step out of the comfort zone and sing a prayer to someone that is hurting.. hugs susan

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  • Mrs. Carol B's Avatar
    Posted by Mrs. Carol B Sat Oct 17, 2009 1:37pm PDT

    Hi Susan,

    You should put this on your blog as a post not here, dear. This is where you leave a comment about what this person has blogged about. Putting this back at your place will allow others to find you and comment to you there. I hope that helps you with learning how to blog.

    Hope you come by and see my site too. Good luck, dear.

    Report Abuse
  • HH's Avatar
    Posted by HH Wed Oct 21, 2009 7:29pm PDT

    Mrs Carol B, What's the "B" stand for? Does it stand for the "B"roomstick which you ride; or something else? Why don't you back off Susan and go back to your Hausfrau activities.

    Report Abuse
  • Kevin I's Avatar
    Posted by Kevin I Wed Oct 21, 2009 7:32pm PDT

    You forgot a couple of other "habits."

    Don't be born poor or even lower middle or middle middle class.

    Get very very lucky.

    None of the fools reading this post will ever get "rich." It's even harder to become wealthy now as well, considering all the wealth is concentrating at the top.

    This blog post is full o' crap.

    Report Abuse
  • daniel's Avatar
    Posted by daniel Wed Oct 21, 2009 7:48pm PDT

    Kevin,

    As an entrepreneur I am appalled by your comments. Obviously you don't believe you have control. Be proactive and know that there are only 2 things that you can control: your actions and your attitude. Read some books and you may discover that your assertions are incorrect. A couple of books that may help you are 7 Habits of Highly Effective People & Rich Dad, Poor Dad. Hope this info helps!!!

    Report Abuse
  • dave w's Avatar
    Posted by dave w Wed Oct 21, 2009 7:48pm PDT

    yep, what a bloated crock of she ott, guess it's a slow news day......

    Report Abuse
  • Courter C's Avatar
    Posted by Courter C Wed Oct 21, 2009 7:55pm PDT

    Noo keep going on me with that Rain "T.V." getting ready for the Globals *Master! Master!* talk more about Taft Street-no old idiots can find me-I have everything on Rain-Beau's here Craig's record is a Christmas Tree on his withelds<>mines like an instant wobbler a little Tour threw the prison to meet some women-Officer ;-) Bowflex "me" uhm Aniston plans you see its like this the real Rocco is still in college Courty "my age 28" I never see Bonnie "shes still cool though,but never see her" uhmm what else *Kim HIA HIA CIA Cordi-Horwitz" sticks and stones will brake my bones-perfection.Nikki Beach poetry a CIA anti Hiv Trail "no dumb shadow spurs just know.Missed all Cavutos wheat commercials and a Kim just in case-Kia^^

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  • LER's Avatar
    Posted by LER Wed Oct 21, 2009 7:57pm PDT

    Well, the above pts are useful for surviving til retirement, however, to become rich, one needs investment strategies as well as a plan to have equity (or royalties) in some enterprise.

    All and all, wealth is not for the middle class worker bee. The average person is better off with a govt job w/ defined benefits programs over the private sector.

    Report Abuse
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