Some may describe the following tips as secrets on how to get rich but I like to call them habits that will help us become the best version of ourselves. We all want to do better in life, and all of these can help better our lives in some aspect. Here are ten habits you can start building today that bring you wealth tomorrow.
1. Find Good Thoughtful Books to Read
Great leaders and successful business men and women are all known to have read…a lot. Alexander the Great had libraries that he took with him everywhere he went and Bill Gates goes on reading retreats with multiple books and just lets his thoughts create new ideas from these books. Reading allows you to learn new ideas and tricks but also allows you as the reader to learn from others failures.
2. Create an Exercise Plan that Works for You
Studies have shown that having an exercise routine gives you more energy throughout your week. Exercising also helps with brain function, overall health, and prevents extra doctor visits and medications that cost money. It doesn’t have to be intense, go bike, run, do push-ups, Pilates, yoga…whatever works for you.
3. Stop Eating Out For Lunch Every day
It is easy to eat out for lunch every day and fun. But it is also more expensive than brown bagging it or going home for lunch. You can save a good amount of money by making your own lunches instead of dropping at least $12 a day on lunch. I suggest you make a larger supper every night and bring your leftovers to work the next day. You'll be surprised how much this saves you.
4. Stop Getting Drinks after Work Every day
I know this seems tedious but it is the same logic as eating lunch out every day. You may not be the person that gets the $10 cocktail but still that $5 beer can be $5 saved for that trip you want to take or the new car you have your eyes on.
5. Learn How to Cook:
By learning how to cook you can create a new hobby and start saving some serious dough. Eating out as I said before is expensive and cooking can be fun. Have your friends over and make pizzas. Trust me, homemade pizza is awesome!
6. Meal Plan the Week Out:
This goes with learning how to cook. By planning out your meals your able to know exactly what you need to buy at the grocery store, no more and no less.
7. Have At Home Date Nights
Date night at home is so fun! You can create the environment of a date with special food, candles (for the romantics), board games, or your favorite movie! One time I put up a tent in our living room and and treated my wife to movie night in the tent. It was fun and different and we even made homemade pizzas. It was one of my favorite date nights we ever had and we still laugh about it!
8. Cut the Cord
I know most millennials probably don’t have cable anymore but for those that still do, this is one of the easiest ways to save money. Today we have Netflix, Hulu, Apple TV, Amazon Fire and they all have different apps like Vimeo and Sling. It is easy to see your shows you just might not see them until the day after airing. You can also get a digital antenna that allows you to get the main local stations ABC, FOX, NBC and CBS. Ours works great.
9. Take Advantage of Different Grocery Stores
In Omaha we have Aldi, Whole Foods, Trader Joes, Hy-Vee and Costco. My wife will go to all 5 sometimes as the savings can be impressive depending on the specialty of the store. Aldi is cheap across the board but usually don’t have the best selection and we all know Costco is bulk buying at its best, take advantage of it.
10. Put Away The Rest
These 9 habits I just listed will help you grow in wealth. However, the most important part is making sure you save the rest and not spend it on frivolous wants. Create goals and save what is needed to meet them . What is left is what you have to live on and if you don't have enough to live the needed lifestyle now you will need to rethink your savings goals. After you have enough for your needs start looking into the wants you can buy in life.
Ultimately, changing habits takes time and none of these will stick immediately. Creating financial stability is not easy. Be persistent and also be patient in seeing the results. Unfortunately real wealth is not "get rich quick." It is being disciplined and patient. When you have enough saved, start to invest. Make sure you know what you are doing and if you don’t, get help from a fee-only financial advisor so you don’t end up wasting your efforts.
I challenge you to not eat out for 30 days and share with me the impact it had on your wallet at firstname.lastname@example.org!
Continue reading---> "Why we love this budgeting tool, (and you should too)."
Steven LaFleur attended college at the University of Nebraska-Lincoln where he majored in finance. After college, he worked in his family’s business. After three years Steven decided it was time to pursue his passion; helping and educating younger generations on money, planning, and finances. Steven is now a financial advisor at True Measure Wealth Management in Omaha, NE. Steven and his wife Kelly have two daughters who keep them busy at all times of the day. Steven enjoys skiing in the mountains and also biking and golfing during the non-snowy months. As a junior advisor, he’s passionate about helping the younger generations plan for their future. For more of Steven’s insights subscribe below.