Did you know 93% of millionaires say they were not gifted their wealth? Well, where did all that money come from then?
To put it simply, habits. But not just any habits.
And in this article, I’m going to share the 5 proven habits that may enhance your life and make you a millionaire.
This topic is very personal to me. These habits didn’t just help me get ahead financially—they’ve completely transformed how I live, work, and think. And the best part? You don’t need to be a millionaire to start them!
Let’s get into it!
Millionaire Facts
So 93% of millionaires say they got their wealth because of good habits? Did you know that a third of millionaires never made $100,000 or more in any single working year for their entire career?
So it’s not like they obtained their wealth from massive salaries.
Pretty shocking, right?
And here’s one more stat for you, there are nearly 7 million millionaires in the US. Can you believe that? There’s 7 million.
And I find it encouraging that there are so many millionaires, because if that many people can achieve millionaire status, you can too.
Now, let’s get started on my top 6 habits to become a millionaire.
Toxic People
Habit #1 – Avoid Toxic People
Toxic. Sounds like an old Britney Spears song doesn’t it?
Spending time with people who drain your energy and do not contribute to you in any possible way, is nothing but trouble for your life.
I know this might sound heavy, this is something that every successful person has had to confront at some point in their financial journey.
So how do Toxic People Sabotage Your Wealth-Building Habits?
Let’s break it down
Toxic people pull you into endless drama, complaints, or negativity, which leaves you mentally and emotionally exhausted.
When your energy is constantly being drained, it’s hard to stay motivated and focused on the habits that create success — whether it’s staying disciplined with your work, managing your finances, or investing in yourself.
Additionally, toxic people often chip away at your confidence too. They’ll criticize your ideas, question your decisions, distract your focus, and downplay your successes, making you doubt yourself.
You may be onto something really good, a business idea, but when Tammy Toxic starts chirping in, self-doubt can begin to cloud your judgement.
And here’s the thing — wealth-building requires confidence. Whether you’re negotiating a deal, making an investment, or starting a new venture, you need to believe in your abilities.
So if you’re constantly surrounded by people who make you second-guess yourself, you can expect to struggle when it comes to making the bold steps that are required to grow financially because a strong, positive mindset is required to succeed.
Personally, I’ve found that as soon as I started surrounding myself with people who believed in my goals, new doors started opening, and I felt more empowered to take those opportunities.
Instead of hanging out with Debbie Downer, Negative Nancy, and Doubting Thomas, surround yourself with people who inspire you, lift you up, and support your goals. You’ll notice a huge difference in how focused and motivated you feel.
It’s worked for me.
Gambling
Habit #2 – Avoid Gambling
Talk about a sucker bet: Every week, 77 percent of those who struggle financially play the lottery. And did you know, the lottery is often described as a “tax on the poor,” and for good reason.
Statistically speaking, your odds of winning a significant amount with the lottery are astronomically bad—normally your chances are 1 in several million. Yet, every week, 77% of those struggling financially still play the lottery faithfully week after week hoping to strike it rich.
It’s a quick-fix mentality, the belief that one lucky ticket will change everything overnight. But the reality is much different. The very mindset of hoping for luck rather than building wealth keeps many people stuck in the same poor financial habits.
By contrast, hardly anyone who is wealthy plays the lottery. I don’t play the lottery… Have I bought a ticket here and there, of course, but I never let it go further than that.
And let’s be clear: there’s nothing inherently wrong with playing the lottery for fun. But it’s important to recognize that it should never be viewed as a wealth-building strategy. If you do decide to play the lottery, wealthy people would suggest doing so with money from your entertainment budget—the same place you’d draw funds for a movie, a concert, or a nice dinner. This way, you’re treating it as a form of entertainment, not a financial strategy.
Always remember, strategic investments, and disciplined saving are the real keys to accumulating wealth over time.
Wealth Is Built, Not Gambled.
Reading
Did you know, amongst wealthy people, 88% read for at least 30 minutes every day. They’re not just reading for fun; they’re learning to improve their skills, expand their thinking, and better their financial future.
Reading is habit #3 on our list and it has really made quite the personal impact on me.
In my own life, I commute to the beach quite often, and it’s about an hour each way, so I use that time to listen to audiobooks that help me grow my financial knowledge and improve in my field.
Whether it’s learning more about business, personal growth, strategies, personal finance, or leadership, The habit of reading really has changed me and my business.
For example, I read Mastering the Rockefeller Habits and just one tip alone in that book has helped me run my office more efficiently.
Rockefeller suggests Daily 15-minute meetings: this brings my team collaborating together; we are literally forced to see each other and discuss what is going on with our working environment, creating a connection among the team.
So whether you’re commuting, doing chores, or relaxing, try to fit in some learning. It’s an investment in yourself. It will increase your knowledge about your business or career. And by doing so, you will be more valuable to your colleagues, customers, friends, family, and co-workers.
TV and Screen Time
Habit #4 is to limit TV and use Internet for Greater Success.
How much of your valuable time is spent parked in front of a screen? Two-thirds of wealthy individuals watch less than an hour of TV each day, and limit their internet use. I myself get online mainly because I am curious about technology, about self-empowerment, and how to improve businesses. Bottom line, use technology to your advantage. .
On the other hand, 77 percent of those struggling financially spend more than an hour a day watching TV, and 74 percent spend an hour or more playing games while online or just endlessly scrolling on social media.
So if remember where you spent your time, that is where your money is going. Thankfully, TV watching is not my thing….
But if you struggle with too much screen time, there are a couple of things you’d like to do to help you break the habit.
turn off notifications from apps, find activities to replace screen time, and avoid eating in front of the TV.
Persistence
The last and fifth habit on our list truly may be the most important habit out of all of them. It is persistence. And as the saying goes, “quitters never win and winners never quit.”
Successful people all tend to share a few traits. They are focus, persistence, and patience. They don’t give up in tough times and keep their goals in sight, whether managing heavy workloads or staying disciplined financially.
This has proven true in my personal journey, where I’ve learned that persistence is absolutely crucial for my success.
When starting my business, quitting was often in my mind; it seemed easy just to go get a job and get paid every two weeks, and it was so tempting to just throw in the towel, but while it was not easy, I remained focused and put in consistent effort, even when I wanted to cry sometimes. By holding on to this persistence I was abe to achieve the results that I was looking for in both my wealth and my health.
Life’s challenges have taught me that staying committed helps overcome obstacles and build the habits that are essential for long-term success.
Unfortunately, many who struggle financially give up too soon, losing focus when progress is slow. I’ve learned that enduring through these periods is what truly distinguishes success, and this persistence has been my foundation.
People who struggle financially often stop short. They may lose focus or become too frustrated when success doesn’t come quickly. My first year in business, I made no money, yet, I held on.
But I’ve learned that it’s the ability to stay the course, even when progress seems slow, that truly sets you apart. This persistence has been my driving force and the foundation for everything I’ve achieved so far—and I believe it’s what will continue to fuel my success in the future.
Get Your Free Estimate
If you don’t already know me, my name’s Sonia Narvaez. I’m a licensed CPA and wealth building strategist with over 25 years experience.
And if you have any questions about how to take advantage of any of these tax savings strategies, book your FREE estimate with a member of my team, simply click this scheduling link, and pick the time that works best for you.
We would love to help and meet with you.