Key Habits for Building Wealth

Introduction

• Wealth is built through consistent small habits over time, not through radical changes or overnight success.
• Focus on the following 20 tiny habits that contributed to personal wealth accumulation.

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1. Practice Gratitude

• Spend 2 minutes upon waking to think of at least three things to be grateful for.
• Feeling joy and gratitude primes you to attract opportunities and positive outcomes.

2. Automate Savings

• Set up automatic transfers to a savings or investment account every pay period.
• Make saving non-negotiable to accumulate wealth without active effort.

3. Batch Your Time

• Group similar tasks together to minimize context switching and increase productivity.
• Example: Meal prep on weekends to simplify weeknight dinners.

4. Automate Investments

• Use dollar cost averaging for investments: invest a fixed amount regularly.
• Reduces risk and improves average entry prices into the stock market.

5. Eat the Frog

• Tackle the most daunting task first each day to enhance productivity and confidence.

6. Write Down Goals

• Writing goals increases the likelihood of achieving them by 42%.
• Keep financial goals visible and track progress.

7. Use Social Media Intentionally

• Limit time spent on social media and use it for networking and marketing.
• Set timers to prevent mindless scrolling.

8. Learn to Delegate

• Delegate tasks to others to free up your time for more important pursuits.
• Examples: grocery delivery, hiring help for tasks.

9. Get Daily Sunshine

• Spend at least 30 minutes outside daily for health benefits.
• Sunshine boosts mood and provides vitamin D.

10. Review Spending Regularly

• Monthly review of spending habits and cancellation of unused subscriptions.
• Build awareness of finances for better money management.

11. Create a "Why I'm Awesome" File

• Keep a record of achievements and successes for leverage in negotiations.
• Document quantifiable results to make a case for raises or promotions.

12. Make a Shopping List

• Create a list before grocery shopping to avoid overspending.
• Shopping with a list can reduce costs significantly.

13. Automate Life Decisions

• Reduce decision fatigue by establishing routines for meals, outfits, and schedules.
• Save mental energy for important decisions.

14. Listen to Money Audiobooks

• Use time spent on chores or commuting to listen to educational audiobooks about finance.
• Change your mindset through new knowledge.

15. Network Monthly

• Have lunch with a new person every month to expand your network.
• Building relationships can lead to job opportunities and partnerships.

16. Follow the 30-30 Rule

• Consume 30 grams of protein within 30 minutes of waking to boost metabolism and energy.

17. Connect with Loved Ones

• Regularly reach out to friends and family through quick messages or calls.
• Strong relationships contribute to emotional well-being and productivity.

18. Incorporate Joy Daily

• Engage in activities that bring happiness every day, even if brief.
• Balance work and pleasure for sustained success.

19. Build Additional Income Streams

• Use free time to learn new skills or create side hustles.
• Consistent effort can lead to significant additional income over time.

20. Monitor Net Worth

• Regularly check your net worth to assess financial progress.
• Keeping track of assets and liabilities encourages informed financial decisions.

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Conclusion

• Start with one tiny habit to implement and build from there.
• Consistency over time leads to significant progress and wealth accumulation.