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Financially successful people have several habits in common. Here are 8 habits I’ve observed in people who are successful financially:

They spend less than they earn.
Spend less than you earn, prepare well for emergencies and catastrophic events, and you’ll be in pretty good shape right there.

They are concerned with how much things cost.
All the well-off people I know use coupons, check prices, and try to get good deals. They don’t, however, use coupons or buy things just because “it’s a good deal”. The only use them for things they would be buying anyway.

They’re generous with their time, advice, and money.
They donate to selected charities, they give thoughtful gifts to their family and friends, they’re there when you need them, and they’re open to giving advice or telling about their experiences if asked.

They say no when people make requests that are unreasonable or that are not feasible.
Generosity does not equal being a pushover or having a lack of foresight. The word “no” is a great addition to any vocabulary. “No, I’m sorry, that’s not something I can do right now” works great.

They value hard work, in themselves and in others.
Come to think of it, the well-off people I know are all small business owners — or they were before they retired. (And if you’ve ever owned a small business, you know just how much hard work is involved.) They are hands-on people. They make things happen, and don’t wait around for wealth to magically appear. When they fail, they get up and try again.

They don’t buy things they can’t pay for in full, right now.
(Although they may still use credit to earn rewards.) This goes along with the ability to say no. When they want something, they don’t use “creative financing” or finagle some way to buy it anyway if they don’t have the money or if believe the money could be better used for something else. No, they wait until they have the money or work harder to get it sooner.

They save and invest regularly.
Once they’ve made their money, they do useful things with it. They invest for the long term; they think about what they want their future to look like 20 years from now, and what they want to leave to their children. They also save for rainy days, and for specific things they’d like to buy.

They pay attention, learn, and grow.
Financially successful people are aware. They pay attention to the details, and don’t let things pile up. They make sure they do things right, even if no one else would ever know. Integrity matters, as does constantly learning and growing.

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