Personal Improvement

Common Traits of People Who Have Achieved Financial Success

Updated on March 22, 2020 Updated on March 22, 2020
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Get Rich Slowly recently posted an article titled, “The Ten Habits of Financially Successful People.”  See how many you share.

They surround themselves with positive people

You can’t change people but if their negativity is undermining your confidence, you may need to jettison them from your life. We have enough self doubt, we don’t need the people around us reinforcing that.

You can’t dump your mom.

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They are not flummoxed by failure.

Successful people fail. A lot. As long as you learn from past mistakes and take actionable steps to prevent the same mistakes in the future, that’s all you can to do. Don’t dwell.

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They manage their time effectively.

There are so many books and online tools to help you to make the most of your time. If you feel like all you do is work, there are steps you can take to streamline your day so you can make more money without spending more time.

They ignore the opinions of others.

This is a bit of a blanket statement. No one needs to crowd source every decision but there should be people in your life whose opinions you value and seek before making major decisions. If not, see the first entry.

They have direction and act with purpose.

It’s important to have a goal. It’s more important to have a goal and actionable steps to achieve that goal.

They focus on big wins.

A big win could be a promotion at work, paying off your student loans, or your credit cards. Look after the dollars and the cents will take care of themselves.

Big wins every day.

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They do what’s difficult.

In other words, don’t procrastinate. Or do procrastinate and that way only the most important shit gets done. We’re still debating this one.

They make their own luck.

“Luck is the meeting of preparation and opportunity.” You might land a great job interview through a friend who works at the company. That’s the opportunity. You land the job because you researched the company and the position and impressed the interviewer. That’s the preparation.

There is no luck in the lottery.

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They believe they are responsible for their fortune.

There is an internal locus of control. A hippy way of saying “make your own luck”.

They grow and change over time.

Sometimes you have to realize a failure for what it is, let go and change direction. Or to be able to change your opinion in the face of new information. Twenty years ago, a lot of people thought climate change was bullshit. Now, in the face of overwhelming scientific evidence, you’re an idiot if you don’t allow the irrefutable science to change your opinion.

That’s a list of ten. How many are you doing? Send us an e-mail and let us know.

Show Notes

10 Habits of Financially Successful People: The blog post the episode is based on.

Getting Things Done: David Allen’s book on productivity. Merlin is a renaissance man who has a website and podcast dedicated to finding the time and attention to do your best creative work.

Rescue Time: A website that does for your time what does for your money.

Four Hour Work Week: Tim Ferriss’ book on how to maximize your productivity in the least amount of time and from anywhere in the world.

Seth Godin: Seth has authored 17 books on marketing in the digital age.

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.
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