Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    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

     

    67 comments

    • Wayne  •  2 years 7 months ago
      Those are some good habits.

      Reading/Learning how others have made a success of themselves starting from nothing helps too.

      Some suggested authors would be Zig Ziglar and Norman Vincent Peale.

      Who am I to give out advice? My wife and I are owners of our own Children's store. We started less than 2 years ago and are opening our 2nd store and reviewing people to join our team. We started with nothing and needed government assistance to survive. We're pulling ourselves out of poverty by our bootstraps and helping others along the way.
    • Drew D  •  2 years 7 months ago
      This is pretty much crap. Want to know the real secrets of Millionaires, get and read the book "The Millionaire Next door".
    • Derick  •  2 years 7 months ago
      you people are pathetic. stop whining about why you can't do something and use that mental energy to come up with a way that you can. You will probably not find financial independence working at a job. You will have to take risks just like the article says. And by the way, luck has nothing to do with it, that is an excuse for lazy people to continue being lazy. Get off your butt and make something happen. No one else is going to take care of you except you.
    • uprighttwin  •  2 years 7 months ago
      trini,
      You surrounded yourself with people who are wiser and successful, had internet access, etc. My point is that the majority of people in low income families do not know that this is available, they know no one who has broken out of it. The article makes it sound like it is within everyone's reach when in reality it isn't. It is as much of a fairy tale as the handsome prince who rides up and carries you off to a castle to live happily ever after.

      Another point - wealth is a relative thing. That person who is struggling will consider himself wealthy when he gets to the place where he does not have to work the second job and can pay his bills. Sure, he had to work to get there, so the old 'get off your duff and do something' rings true. I don't see why Americans hold out that monetary standard as the ultimate goal.
    • bri  •  2 years 7 months ago
      i didn't even read this, and i'm not going to.

      i just wanted it to be known that the model on the front page of yahoo for this article is cute as hell.
    • susan  •  2 years 7 months ago
      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
    • rwk  •  2 years 7 months ago
      because its expensive dont mean its good always shop for value stop compulive shopping rwk
    • scoop  •  2 years 7 months ago
      I was self made for a while..The tax loopholes are a double edged sword. For years, in order to avoid/delay taxes, I did the 1031 exchage thing. For years it's been awesome with nearly 300 rental incomes. Now giving it all back to the banks and happy to work odd jobs at $10/hour to feed the family.
    • A Yahoo! User  •  2 years 7 months ago
      I am conducting a survey that will help me compile data for a book. This book will help Americans see where they stand compared to most others when it comes to success. I will be very grateful if you would fill it out! The link is below. By the way - everybody who fills it out will receive a free e-copy of the book, and you can also plug your business, website, blog... whatever in the book.

      Thanks!
      Erin
      http://www.surveypirate.com/Survey.aspx?surveyid=7333&hash=s6Z11YI5tfvpbDo0LijmKA%3d%3d
    • Allegra  •  2 years 7 months ago
      Sorry, correction. Must have millionaire habits: Must have a very good job.
    • Eric W  •  2 years 7 months ago
      Money won't buy you poverty.
    • Jacqueline  •  2 years 7 months ago
      you must track every pennie and only spend on your basics you must now when to invest real estate is where the money is now. buy a rental and sell in 5 to 7 years and you will reap the rewards.... you have to have patience but it can be done. stick with a budget...........
    • K  •  2 years 7 months ago
      What about stealing also, I used to work at nordstrom in corte madera ca and many "wealthy from tiburon and Mill valley would often be caught shoplifting or altering price tags...some would be arrested while their mercedes were parking next to the cheesecake factory vallet parking...
    • Allegra  •  2 years 7 months ago
      Have a very good job
    • Matt  •  2 years 7 months ago
      I have a great idea. I'm going to become a reality TV star by convincing my son to hide for a day while I convince everyone he is up in a flying balloon type device that I created.
    • Just Me  •  2 years 7 months ago
      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.
    • Clint  •  2 years 7 months ago
      Kevin, you're a lowlife. Being born poor has nothing to do w/ what you make of yourself. I know plenty of people who were born poor/lower middle class and are now wealthy, and it had nothing to do with luck. Stop acting like you're a victim...
    • Just Me  •  2 years 7 months ago
      Wow, I fit all these criteria........WHERE IS MY MILLION. I'd like it now, please.
    • Trini  •  2 years 7 months ago
      I think another advice is to embrace change! I know a lot of people who just don't like change and they stay in their position/state for years and years...there is no reason a person should be a part-time security guard at a school for 30+ years unless they are advancing in their job or they really just can't help it [this is just an example...not comin at any security guards]...No I am not rich, but I am very young and doing well on my own and intend to do better...I'm just tired of people my age becoming comfortable in a measly job and settling for less when they're capable of accomplishing so much more! [not to mention that staying stagnant somehow keeps you close-minded]
    • grapermellon  •  2 years 7 months ago
      The reason they look for value is because millionaires don't consider themselves that rich. It is billionaires that do not look for values anymore. The "really rich" people don't care about shopping to the best value because their times are worth much more.

    Join us on Pinterest

    DAILY SHOT VIDEO

    We apologize. An error has occurred. Please try again.