Deborah is a writer, healer, and teacher. Her goal is to help people live their best lives every day by sharing her joy and love of life.
You Can Have It All!
The Rich Get Richer and You Can Too
The economic forecast seems grim, but those with wealth are content to let the tide rise and fall as it will. What is the secret to financial security and economic freedom? The following ten tips and secrets will help you increase your personal wealth, free you from the burden of worrying about money, and lead you on the path to personal success.
10. Rich people save money. Everyone should be saving money, whether they are rich or not. We are all familiar with the adage that we should save ten percent of our earnings. Most people know that they ought to have a rainy day fund, and an emergency fund, with at least three month's wages, in addition to a retirement fund.
But where does the average Joe get the money to sock away for a rainy day? For most average people, every day is a rainy day, when kids need new shoes, the car is out of gas, and the bills are stacking up.
In fact, according to CNN Money, 76 percent of Americans are living paycheck to paycheck. Half of the people responding to a CNN Money poll said they have less than three months savings, while nearly a third said they had no savings whatsoever.
Most of us aren't saving money, because we don't feel like we have extra money to save. But the rich know the importance of having money in the bank, regardless of how tight the belt gets. So how do you make the transition from having no savings to starting an account and keeping money in it?
First, make saving a priority. If your company offers a 401-K plan, take advantage of it. There is no reason you can't take $25 from your weekly paycheck and put it away. If the company offers a match, then try to meet that amount. It is free money into your retirement.
If you work for a company that doesn't offer a 401-K, or you work for yourself, then you have to be more creative and more self-disciplined to save money. But you can still do it, and it will still make a difference.
There are many suggestions for saving money. A look on Pintrest, or a simple Google search will yield hundreds of results for learning how to save money. Some suggestions are to keep all your change in a jar, or keep all your $5 bills and save them, or put a certain amount into savings each week. The possibilities are endless.
The fact is, in order to save, you must make it a priority. It doesn't matter if you are saving change in a jar, or $5 bills in a drawer. Until you decide to save money, you won't. The easiest way to save money is to open an account that is not easy to access. Then, commit to taking ten percent of your paycheck and depositing it first. Before you pay bills or buy groceries or do anything fun, first take the money out of the bank and deposit it into a savings account.
Don't go looking at your account every day. Just leave the money alone and let it grow. Don't start planning how you're going to spend it. Leave it alone. Allow your savings to grow without making plans about how you will spend it. That way, when a real emergency strikes, and you will know when it does, you can rest assured that you have the money to cover it.
An Easy Way to Save $1,000
- 52 Week Money Challenge - Save $1,378 In A Year | Trusper
52 Week Money Challenge - Save $1,378 In A Year
Are you saving for your future?
Just a Little Patience
Think Long Term
9. Rich people are in it for the long haul. This isn't just about playing the stock market. Most wealthy people will tell you to ride the waves as they come. Those with money have tenacity in all areas of their lives, not just investments.
When investing money, it's dangerous to get nervous when things look shaky. Any millionaire will tell you that the time to buy stocks is when the market is down. But that isn't always easy for middle-class America. When the market begins to plunge, most people feel panic settling into their gut, and they react accordingly. Instead of the knee-jerk reaction, wealthy people realize that everything is cyclical. They are willing to wait out the highs and lows, in order to see a full return.
The same is true for life. Rich people don't make hasty, knee-jerk reactions. They realize that patience is a virtue, and most problems can be waited out, or resolved with time.
If you find yourself easily frustrated, quitting jobs because you get angry with your boss or coworkers, or have trouble sticking to anything in life, take a lesson from the rich. Patience is a virtue. Give your problem some time, before you take drastic action. If, in a few hours, or days, or even weeks, the situation isn't resolved, then it may be time to move forward more forcefully.
Until then, take a deep breath, collect your thoughts, and remember that this too shall pass.
Invest in Yourself
8. Wealthy people invest in themselves. There is more to being wealthy than having a large pile of money, and the wealthiest people in the world know that the most important investment they can make is in themselves.
According to a recent Success Magazine poll, 88 percent of wealthy people read every day. Whether you are reading trade magazines, books about your profession, or books about self-improvement, it is important to spend time reading. And rich people don't wast all their time reading comic books. Most spend their time improving themselves in some way.
Higher education is important, whether you are working on your Associates Degree, Bachelor's Degree or your second Master's Degree, it is vital that you continue learning and improving yourself. Wealthy people don't accept the status quo for themselves. They strive to improve themselves and their lives.
With the large number of online classes and workshops available, there is no excuse for not learning. And if you truly can't afford to take a class, many libraries, museums and community colleges offer free classes that will improve your network while you improve yourself.
Along those same lines, you won't find wealthy people parked in front of the television for hours every day. They have no time. Rich people spend less than an hour each day watching television. And most don't spend hours surfing the internet either, unless they are working or reading job related information.
Successful people spend their free time in other ways. Rather than watch television, they read books, work on self improvement, volunteer in their community, or pursue networking opportunities.
There is no time like the present to invest in yourself. Begin taking a class and working toward your degree. Or read a book. Or volunteer at a community fundraiser. Not only will these help you on your own path to success, but you can improve the lives of others while you're at it.
Say Yes to Yourself
7. Successful people know when to say no. Being a "yes man" is not on the path to wealth or success. Successful people cultivate the skill of saying no, not only in their personal lives, but also professionally.
While saying yes to everything that comes up is a way to get out in the public eye, to build your network, and to get known in the community, it has a downside. When you say yes to every request, you can overcommit your time. You can lose sight of your priorities, and you will feel burned out before too long.
In business, saying yes to every idea or opportunity can lead to trouble, as you lose sight of what is important and what your goals are. When you say no to another drain on your time, you are saying yes to yourself and your priorities.
According to Forbes Magazine, saying no can be liberating. It will help you find more success.
At the end of the day, your success depends greatly on your ability to manage your time. We all have 24 hours, rich or poor. How we use those 24 hours each day will determine whether we are successful or whether we spin our wheels.
Wealthy people know the difference between opportunities worth pursuing and those that are best left alone. When you learn to discern the difference for yourself, you can say no to the things that don't matter, the things that don't enrich your life, and the things that will drain your energy. As you learn to discern, you will become more successful instantly.
Now is the Time
It's Time to Start
6. Successful people start now. Whether it is a new job, a new idea or a new habit, successful people don't delay.
When a successful person decides he wants to start working out, or begin a new task, he doesn't sleep in and wait until tomorrow. The successful person gets up early and gets moving in the direction of his or her dreams.
There is no time like the present to get started on your future. Although many of us may hesitate, fearful of failure or defeat, the wealthy rise early and get started with their lives. Sure, they may not feel ready. Sure, they may be nervous or scared. But the possibility of success is stronger. It pushes those motivated people to accomplish more.
So you want to write a book? Get started. You want to start working out, or taking a class, or find a new job? Start right now. Now is the time to begin living your dream. If you wait, you might discover that your dream is gone, and you've tarried too long.
It doesn't matter if you don't feel completely ready. No one does. The important thing is to take the first step, followed by the second step, and the next steps after that. Things will come to you in the proper time. You don't have to wait for the perfect circumstances. You just need to take that first step.
In any new situation, the first step is always the hardest. Take a deep breath, close your eyes, and step outside of your comfort zone. Chances are, you will be glad you did.
You are Responsible for Your Life
Take Responsibility for Your Choices
5. Successful people take responsibility. The people around you who are whining and complaining and playing the blame game, are probably not as successful as they could be.
Successful people take responsibility for themselves and their decisions. They realize that the only thing they can control in life is themselves, and their own reaction to situations. In fact, wealthy people rarely find themselves reacting. They respond to circumstances.
Reacting is an action that requires little thought beforehand. When you respond to a situation, a person or a circumstance, you think about it, you deliberate, you weigh your options. And then you take appropriate and reasonable action. Reactions are usually based on emotion and are not always reasonable.
A successful person does not always react immediately to situations, good or bad. They observe, they take in information, and they think. And then they take responsibility for their own choices. You will rarely find successful people complaining about the outcome of a situation. This is because they are usually aware of the expected outcome, long before anyone else is.
Complaining and blaming only bring negative energy into any situation. What wealthy person has time for that? Instead of blaming and complaining, successful people take charge of a situation. They take charge of themselves, and they take command of the outcome.
And most successful people surround themselves with like-minded counterparts. You won't find a whiner sitting in a room with a bunch of entrepreneurs. They wouldn't stand for it. Instead, successful people surround themselves with positive, upbeat go-getters who reflect their own values and their own behaviors.
If you want to be successful, then stop complaining. Stop blaming. Take responsibility, and get moving.
You Can Do It
4. Wealthy people give back. Truly successful people delight in seeing others do well. They don't feel competition or fear lack. Wealthy people know there is more than enough to go around, and they are willing to share what they have with others.
Whether it is volunteering time for a fundraiser, spending time in a community organization or on a local non-profit board, or donating money to worthy causes, successful people want to give something back.
Wealthy people recognize that they have been blessed, and they want to share their good fortune with others. They are generous with their time and resources, and truly want to make their world a better place. Successful people understand that we are all stronger when we work together. When you give back, then you get more.
You don't have to wait to get rich to begin giving back. You can begin today, volunteering in the community. Helping an elderly neighbor. Spending time at the local Boys and Girls Club. Every community has an abundance of worthy causes that can always use an extra hand, or an extra dollar. Find something that matters to you and give back to your community.
When you start giving back to others, you will discover how truly rich your life is. You will find, as I have, that you are wealthy beyond your wildest dreams. And wealth isn't always measured in money.
Do You Give Back?
3. Wealthy people are on the move. On any given day, most rich people are up before the sun. They begin their day early, even on weekends, when many others are sleeping late.
Successful people know that time waits for no man. They realize the importance of making the most of every day. When you wake up an hour early, you have just added to your productivity and enjoyment of the day.
Whether you use the time to meditate, to exercise or to read, that extra hour makes a big difference. Suddenly, there is time to get everything done.
Wealthy people don't sit around, watching television all day, not even on the weekend. They are active, finding time to play. Whether it's running, skiing, sailing, or hiking, successful people know that exercise helps reduce stress and keeps the body young.
Instead of hitting the snooze button, set your alarm a few minutes earlier each week, until you have an extra hour in your day. Then use that hour to exercise, to mediate or to pursue a hobby that brings you joy. Get up and get moving!
At the end of the day, don't dissolve into a mindless slug in front of the television. Get to bed early, and give you body a chance to rest. Tomorrow will be another busy day.
Everything in Moderation
2. Wealthy people know when enough is enough. Everybody likes to indulge in some aspect of their lives. Whether it's an extra piece of dessert, one more drink, or another new car, people like to splurge on themselves, especially when they think they've earned it.
Successful people don't deny themselves the things they enjoy, but they do know when to quit. They know that one more drink will likely leave them too tired to get up early tomorrow, or one more car will overextend them financially.
Rich people enjoy an occasional indulgence, but for the most part, they know when to quit. Sometimes, too much of a good thing can be bad for you. Whether it's your diet, time off from work, or one more night on the town. At the moment, you might enjoy your indulgence, but down the road, is it something you will regret?
Wealthy people keep in mind their end goal. They always keep in mind the bigger picture. They don't risk what they want for a moment of fleeting pleasure. They realize that the road is long and narrow, and not every choice leads to success.
Whatever your indulgence, if you truly want to be successful, know when to say no.
A Grateful Heart is a Happy Heart
1. Successful people are grateful. No matter what your position in life, there is always something to be thankful for, and no one knows this better than a rich person.
Wealthy people take time out of their day to appreciate what they have. They express gratitude for their blessings, and they aren't shy about being thankful.
Successful people realize what is truly important to them. They make it a priority to take care of the most important things first, whether its their family, their work or themselves. And then, they take time to express gratitude for their blessings.
No matter how much money you have, you can make yourself instantly wealthy by expressing gratitude for the many things in your life. Reflect on the people, the relationships, and then on the things. Being wealthy is much more than having a full bank account. A truly wealthy person realizes the value of everything in their life.
Being thankful is the first and most important step to leading a successful life. Everything else becomes window dressing.
Manifest Success in Your Life
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on January 03, 2020:
Thank you for taking the time to read and comment on my article.
Avinash Khopade from Mumbai, India on December 18, 2019:
Very good article.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on February 18, 2016:
yecall, Thanks for reading and responding.
I agree, wealth is a mindset, first and foremost.
Andrea Parker from Florida on February 13, 2016:
I love your hub! This is all true and those who are not wealthy will realize how much time is wasted and do much better time and attitude management. It is totally a mindset. Thank you for writing.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on January 25, 2016:
Thanks manatita44 for reading and commenting. I appreciate you taking the time to watch the video. I found it very inspirational.
manatita44 from london on January 24, 2016:
This one is so practical! Key elements of success and in leading a wholesome life expressed, and a great model for living. Inspirational Hub and excellent video at the end.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on December 30, 2015:
Jean, thanks for reading and for the great comments. You are a wise woman.
Jean Bakula from New Jersey on December 29, 2015:
A very inspiring piece! I save the $5.00 bills, they add up faster than you would think. I also have a fee only financial advisor. So I paid her once, and she manages my retirement funds forever. She's ended up being a great friend.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on December 09, 2015:
Thanks for stopping by and reading my hub.
I appreciate your comments, and look forward to reading your writing.
Linda Robinson from Cicero, New York on November 12, 2015:
Hello Deborah very nice meeting you, excellent, interesting and a very informed hub. I really enjoyed and was extremely helpful. I look forward to reading many more of your hubs. Linda
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on August 18, 2015:
Thanks for stopping by and reading. I appreciate your input.
theBAT on August 13, 2015:
Hi. I enjoyed reading your hub. Yes, it is great to start the day early and keep moving. Thanks a lot.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on June 08, 2015:
It is never too late to begin saving. Thanks for reading and commenting, aesta1.
Mary Norton from Ontario, Canada on June 04, 2015:
These are really worthwhile points. I remembered the days when we had a piggy bank and change coming from my husband's pockets and my purse go in and each heart, we open it and put the money for the mortgage. I also started learning about investment and now, my husband is into it, too. Now is the best time to start.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on May 19, 2015:
Thanks for reading, and for commenting. I appreciate it.
Akriti Mattu from Shimla, India on May 15, 2015:
So true. Voted up.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on February 26, 2015:
David Trujillo, thanks for your input. I appreciate you reading my article.
David Trujillo Uribe from Medellin, Colombia on February 24, 2015:
Awesome video at the end, I love those.
Deborah Demander Reno (author) from First Wyoming, then THE WORLD on February 24, 2015:
Marlobydesign: Thank you for reading, and for the feedback. I appreciate your input.
Matt, Thank you for the feedback. I look forward to reading your book. Thanks for sharing that information.
Matthew A Easterbrook from Oregon on February 23, 2015:
I enjoyed your hub a lot. Keep up the great work. If you need a book for the regular consumer that talks about budgeting, debt settlement, retirement programs, getting back on track financially, financial empowerment etc. I have just the book its called Financial Revolution. I truly believe this is an easy read with an enormous amount of information.
MarloByDesign from United States on February 23, 2015:
I enjoyed learning about the traits of successful people. Your Hub was very well written! Rated 'Useful' and 'Interesting'.