20 Habits of Rich People [Tom Corley]

Tuesday, August 13, 2013

You guys all know that one of my favorite things to do is listen to Podcasts. I listed to a wide array ranging from financial, self improvement & entrepreneurial, all to comedy, lifestyle & heath & fitness.

If you need some recommendations, some of my favorite podcasts are:
48 Days with Dan Miller
Jillian Michaels Podcast
The Adam Corolla Show
Alison Rosen is Your New Best Friend
Dr. Drew
Balanced Bites

When I'm doing stuff throughout my day like driving, walking with Kobe, cleaning or working out, I like to multitask. Podcasts are not only entertainment for me, but also serve as a daily dose of self improvement. I often get introduced to new products, books & websites this way.

While listening to The Dave Ramsey show podcast a while back, he mentioned a book by Tom Corley called Rich Habits, where he outlines 20 things the rich do every day.

Now 'rich' means a lot of different things for different people. For me it means being financially independent & responsible, having balance, and having a general sense of self worth & success. Living comfortably & responsibly. It's not necessarily about reaching a certain salary or net worth.

I thought it would be fun to see how many of these things I do each day & what I still need to work on. I'm nowhere near reaching my ultimate financial goals, but practicing these things should help me keep on track.

Here is a little background about what Tom had to say & how he conducted his research...

"My name is Tom Corley.  I am the author of Rich Habits - The Daily Success Habits of Wealthy Individuals (www.RichHabits.net). I spent 5 years studying the daily activities of 233 wealthy people and 128 poor people.  What I discovered was that wealthy people have vastly different daily habits than poor people.  In fact, I tracked 140 daily activities that separate the wealthy from the poor and in this article I will highlight 20 of these activities. These Rich Habits are the financial equivalent of the Holy Grail. Because there is no research like this of any kind, these discoveries are revolutionary and will challenge everything you thought you knew about becoming wealthy.  The Rich Habits will transform your life from one of financial failure to one of unlimited financial success beginning in as little as thirty days. I will show you how easy it is to reinvent yourself in these 30 days.  In order to become wealthy you must learn how to walk in the footsteps of the wealthy and this means …... "

 20 Things the Rich Do Every Day

1. Eat Healthy: 70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble. I definitely eat a mostly healthy diet & don't gamble except maybe like $5.

2. Focus: 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.  I would say my focus is pretty good on reaching my business, fitness & overall life goals. Would like to focus more on my blogging goals.

3. Exercise: 76% of wealthy exercise aerobically 4 days a week. 23% of poor do this. I exercise between 4-6 days per week, not even including my daily walks with Kobe.

4. Listen: 63% of wealthy listen to audio books during commute to work vs. 5% for poor people. Not audiobooks, but I'm counting podcasts & talk radio because it's focused on self improvement.

5. To-Do: 81% of wealthy maintain a to-do list vs. 19% for poor. Oh yeah, to-do list all day every day.

6. Read: 63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor. Well, I'm not a parent, but I do not read 2 non-fiction books a month. Would like to start a goal for reading maybe one per month. Starting with this book & then Jon Acuff's book Start.

7. Volunteer: 70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% for poor. I am not volunteering right now but have been thinking about starting at the Humane Society. I need to call this week.

8. Call: 80% of wealthy make hbd (Happy Birthday) calls vs. 11% of poor. I text or facebook mostly, not sure if that counts.

9. Write Goals: 67% of wealthy write down their goals vs. 17% for poor. I do make a rough business plan each year, but I need to start a goal journal where I write each day.

10. Read: 88% of wealthy read 30 minutes or more each day for education or career reasons vs 2% for poor. I read blogs & articles & that totally counts.

11. Speak Your Mind: 6% of wealthy say what’s on their mind vs. 69% for poor. I'm pretty good at speaking my mind but there is always room for improvement here.

12. Network: 79% of wealthy network 5 hours or more each month vs. 16% for poor. I network with people I know, but I need to join a young professionals network & go to events.

13. Less TV: 67% of wealthy watch 1 hour or less of TV. every day vs. 23% for poor. Epic fail. I watch tv a lot at nights, but it's mostly in the background while I'm doing other things.

14. No Trash TV: 6% of wealthy watch reality TV vs. 78% for poor. Another epic fail. Maybe I will be in that 6%?? Can't give up RHOC. Come on now.

15. Rise Early: 44% of wealthy wake up 3 hours before work starts vs.3% for poor. Yes! I love my morning alone time to read, drink coffee and get outside & walk.

16. Teach: 74% of wealthy teach good daily success habits to their children vs. 1% for poor. I don't have children, but will totally teach them when the time comes.

17. Good Habits: 84% of wealthy believe good habits create opportunity luck vs. 4% for poor. Definitely. You create your success.

18. Bad Habits: 76% of wealthy believe bad habits create detrimental luck vs. 9% for poor. Or your create your failure.

19. Improve & Learn: 86% of wealthy believe in life-long educational self-improvement vs. 5% for poor. Definitely. Even though I didn't go the traditional educational route, I am constantly learning & improving.

20. Read:
86% of wealthy love to read vs. 26% for poor. I love reading & couldn't live without it.

My Take

So my score is a 12/20. Definitely room for improvement. I would like to focus on improving more on volunteering, networking & writing down goals. For now I'm willing to keep my reality TV habit, I don't think it will prove to be that detrimental to my success ;)

I definitely agree that all of these could do nothing but improve your chances of success. I'm a true believer that exercise & healthy eating helps in all aspects of your life, along with being organized & maintaining a to-do list.

What did you score out of 20? Can you improve on some things? What are your strong points?


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