The 6 Financial Habits of Successful People

Author Article

The image of a successful person conjures up visions of Richard Branson relaxing on his private island or a garage full of shiny luxury cars.

But most wealthy and successful people didn’t get to that stage overnight. It’s the culmination of good personal finance habits and smart spending and saving patterns to create wealth over time.

Glen James, financial adviser and host of the My Millennial Money podcast, put together the top personal finance habits of successful people after interviewing wealthy people and observing the habits of people he’s worked with to improve their money habits.

He shared his six tips with Your Money Live.

1. They keep away from consumer debt

“It’s interesting that now there’s advertising out there almost slapping us across the face every day with borrowing for holidays, borrowing for lounges,” James said.

Wealthy people steer clear of easy credit and ‘buy now pay later’ services like ZipPay and Afterpay. “That’s a trap,” he said.

2. They automatically invest money

James calls this “low hanging fruit”, an easy habit that anyone can start today. Set aside a small amount of money each month and siphon it to a savings account out of reach, a superannuation account or investment.

“If I can remove myself from the process and set up the habit of the (payment) automatically occurring, the year goes by and at the end of the year you’ve got money there that would’ve otherwise been spent,” he said.

James gives an example of his clients who are teachers and “over a period of years they’ve invested into a managed fund, investment account or ETF [exchange-traded fund] and they’re very wealthy relative to where they live and the people around them.”

3. They automate their spending accounts

Most successful people have a solid budget and personal spending plan.

They calculate a weekly budget and automatically divert their cash into various accounts like spending, bills and savings.

“It sounds really basic but the effects on someone’s life can be huge,” James says.

Removing the human nature element and automating your accounts is not only a good habit to get into, but allows you to cap daily spending and removes the temptation to splash the cash on a whim.

4. They keep themselves educated and focused

Successful people are always learning and working on their personal development.

James suggests getting in the habit of listening to podcasts, audiobooks or reading to satiate your curiosity on topics you’re interested in.

“What can you read to inspire you? Whether it’s a financial book, or Your Money website articles, just to keep up to speed and encouraged in your own personal life.

“The best golfer in the world needs a coach. The best tennis player in the world has a coach. All it is, is third-party accountability. I believe none of us are above that.”

5. They are goal-driven

James says successful and wealthy people are strongly motivated, and it’s not always money they are driven by.

The key to being motivated is to pick a goal, and it doesn’t need to be a financial one, he suggests.

“What can you do to give yourself a purpose in life?” James said.

6. They are always thinking long-term

Successful people think about the future and develop the habit of delayed gratification.

“There’s a study that said if they offered people on the street ‘Hey, would you like $100 today or $200 at the end of the year,’ most people would take the $100 today.”

Successful people delay short-term gratification for the benefit of gaining something long term.

The 10 Morning Rituals Of Successful Entrepreneurs

Forbes Article

What morning habits hyper-successful entrepreneurs use to set themselves up for productive days?

How you start your day can have an incredible impact on how the rest of it goes. How much energy you have, how efficient and productive you are, if you achieve the right things, and how much you enjoy the journey. There are millions of others out there trying to beat you. There are only so many days to make progress. So, while many workers see morning routines as a luxury, top performers are very mindful of what they do.

I have the pleasure of interviewing some of the most successful entrepreneurs on the DealMakers Podcast where they share how they did it. Routines are always a big component. With that been said, here are just some of the morning rituals of successful entrepreneurs that you may like to try.

1) Review Goals & To-Do Lists

Get in the game and get focused on what you want to accomplish for the day. If you don’t there are plenty of other people in line waiting to take up your time and have you working to their priorities. Take control. Be honing in on your top VIP items and what you want to be doing. Gary Keller uses a one thing to-do list to make sure there are no other distractions.

2) Read

Leaders read. Period. YouTube is great, audio books and podcasts can be hyper valuable and offer efficiency, but real reading carries many benefits, aside from just inputting more noise and knowledge. Mark Cuban and Warren Buffett are famous for reading for hours a day. Elon Musk and Bill Gates are heavy readers too. It is one of the top traits of the world’s most successful.

3) Exercise

Exercise is one of the most common elements in the morning routines of successful entrepreneurs. Many hit the gym, ride bikes, run or walk. Navy SEAL and author of Extreme Ownership, Jocko Willink likes to hit the weights hard before running. Though the new peloton craze could be for you if you live in the cold weather like NYC.

4) Cold & Hot Therapy

Tony Robbins is famous for using cold therapy to wake up. If it’s not a cryo chamber, it’s a dipping pool at his Florida estate. In his new book Passion For Real Estate Investing, fund manager Fuquan Bilal swears by Korean heat therapy for boosting thinking and productivity.

5) Meditation

Practicing mindfulness, breathing exercises, meditation and even morning journaling are common practices among high achievers. This includes both Arianna Huffington and Oprah. Some may find this a little slow paced for their lifestyles. Others swear by it for staying focused.

6) Yoga

Entrepreneurs who are known for practicing yoga include Russell Simmons, Sergey Brin (Google), Justin Rosenstein and multi-billion dollar selling real estate entrepreneur Kaya Wittenburg. If you are looking for something a little more fast paced try power yoga or Day Breaker’s morning dance and yoga parties.

7) Sports

If lifting weights isn’t your thing, why not dive into your favorite sport in the morning. Tim Draper says he begins his day with basketball. Richard Branson says he enjoys tennis, kite surfing or swimming around his private island. This can be a great way to ensure your passion for a sport isn’t left in the dust as you pursue your startup and grow a business. It’s one thing you shouldn’t sacrifice.

8) Check in Online

Other entrepreneurs just thrive on jumping right into it. It seems to work quite well for them. Entrepreneurs like Gary Vaynerchuk hit the bathroom with their phones as they leap out of bed to check news, respond to social media messages, or even keep in the routine of making time to call family members. This seems counterproductive advice compared to most of what is suggested in books and blogs today, but if that’s what you live for, don’t deny yourself.

9) Make the Bed

Just like the military, Tim Ferris of the Four Hour Work Week has said making the bed is a priority in the morning. You may not really care about what the bed looks like, nor feel you need it to be made before you knock out again at night. Yet, there may be benefits in the routine and preparing your mind. If you are working from home or are sleeping in your office, the cleanliness and organization might be better for your focus too.

The great thing about this morning ritual is that you’ve always at least accomplished something each day. Even if that is followed by spilling coffee on your new shirt, getting stuck in traffic, forgetting to let the dog out, and missing an important investor meeting At least you accomplished something today.

10) Have Breakfast with People You Love

If you are a real hustler it can be hard to slow down enough to make breakfast with your family. Well, it can be even harder to make it home for dinner on time or make all the quality time you promise. At least you can be consistent with breakfast. You can also start out their day on a positive note, and ensure you are still getting the most important things done.


Morning routines appear to be a clear differentiator in top performers and the rest. Invest time in them. These clues from other successful leaders appear to make a big difference in how high you can go. However, Tai Lopez also points out the importance of finding the right combination of morning rituals for you and your personality.

You don’t have to get up at 4 am, bench press, or be a Facebook user to be successful. It’s more important that you morning system works for you. Experiment and find a good process. Though don’t be shy about disrupting it every now and again to try something new.

Alejandro Cremades is a serial entrepreneur and author of best-seller The Art of Startup Fundraising, a book that offers a step-by-step guide to today‘s way of raising money for entrepreneurs.