10 Daily Habits to become a Millionaire before 25
You have to pay the cost if you want to be the boss.
The cost is discipline. No leader can achieve success without a certain level of discipline. A disciplined person is willing and able to give up short-term pleasure to achieve long-term gains. Of course becoming disciplined requires you to have daily habits. Only disciplined people with habits can turn their lives around.
Habits can change the direction of our lives. While some people have pitiful habits, like gossiping, others have powerful ones, like praising others. No matter who you are or where you came from, your habits can make or break you.
What are your habits? Where are they leading you?
Here are 10 daily habits that will make you a millionaire:
Studying
First and foremost, you should never go a day without learning. Learning can happen in all forms. Personally, I study every day for a minimum of three hours. This includes the following habits: reading the dictionary, reading books, watching videos, reviewing and replying to comments, talking to my coach.
Out of all of this, reading is most important. Every day, without fail, I get to my books and soak in as many ideas I can. I also put my phone in another room as I drink in the knowledge and wisdom of these books. All the books in the world have all the answers in the world. I can afford to miss a meal, but I can’t afford to miss a book!
“The greatest university of all is a collection of books.” –Thomas Carlyle
Goal setting
Every day, you should make it your duty to set your goals. In my composition book I write down everything that I want to accomplish for the month, year, and decade. This process fascinates me and gets me to think bigger and step over the small problems in life. To date, I have over 100 of these composition books in my garage.
Let’s say you have a goal to live a lavish lifestyle within the next 10 years. If you want to achieve this goal, you list some ideas that correspond with it. For instance, you list the following ideas for the year: a private jet, 10-bedroom mansion, personal chef, a Rolls-Royce. When you come up with these ideas, you’ll get really excited about where your life is heading.
Planning
You can set endless goals, but you need plans to achieve them.
First, you’ll need to break down those 10-year goals into years, months, weeks, and days. Once you break them down into smaller parts, you’ll have to come up with some steps to achieve those results and find a way to hold yourself accountable.
One of my clients had big goals to be a professional speaker. However, he didn’t know how to plan. I told him that he’ll have to set the stage high (no pun intended) and make plans to achieve his goals. I told him that if he gave 120 speeches in a year, he would reach his goals. I helped him break it down to 10 a month, which is one speech for every third day.
After we planned, he admitted that his goals felt more achievable!
Networking
In the new millennium, we have so many new ways to get and stay connected. To network effectively, you’ll have to be a producer, not a consumer. This means you have to network aggressively, not passively. Don’t wait for emails or phone calls to come to you. Instead, make an effort to reach out to others. Realize that networking is a daily habit.
I use a special system called the “Rule of 10.” This rule allows me to send 10 text messages, 10 phone calls, and 10 emails a day. On top of this, I’m constantly making videos, giving speeches, and writing articles, which allows me to reach the masses. I’m also posting several times a day on all of my social-media accounts. This is networking at its finest.
Journaling
Everyone needs time to think. To think effectively, you should keep a journal. It allows you to reflect on the day and ask serious questions. In addition, you’ll be able to keep track of stories, ideas, jokes, lessons, quotes, successes, failures, and more. You can keep track of who you met and where you went.
Every day, I write a minimum of four pages in my journal. To date, I have cherished two dozen journals. It gives me time to reflect on my greatest accomplishes, challenges, and opportunities. Sometimes, I’ll journal for over an hour.
When I look back in my journals, I’m often astounded from my journey. Further, it’s good to leave some notes behind for future generations.
“It’s not the number of hours you put in, but what you put in the hours.” —Abraham Lincoln