This is an article I found to be very insightful with regards to habits practiced by financially successful people. How many of these do you incorporate into your life?
The secret to finding financial success has been something that has eluded many of us for our entire lives. Yet there are multitudes of individuals who enjoy a comfortable life due to their financial success. As it turns out, many of these financially successful people all have certain habits in common with each other. Here is a list of the top 20 key habits that financially successful people employ.
1. They establish and follow a budget.
Being able to plan ahead for your financial needs and setting limits on certain spending types will almost always result in better results in the long run. Anyone can make a budget, but staying disciplined enough to follow it is more difficult.
2. They keep their recurring, monthly expenses to a minimum.
Along with making and keeping that budget, they also evaluate their monthly costs and reduce them when possible. By avoiding this unnecessary spending they allow a larger portion of their income to go towards saving.
3. They have a healthy financial education.
Financially successful people are well aware of the current economic trends and are constantly increasing their knowledge so that they are able to make the right decisions when it comes to managing their money.
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Median weekly earnings in the U.S. for wage and salary workers were $775 at the end of 2012.
But just how much you make depends on a number of factors, including your race and gender,
CNNMoney gives you a snapshot into what Americans earn:
The more schooling you have, the more you get in your paycheck.
We all want to be better at something. After all, self-improvement is necessary to getting ahead at work. But once you know what you want to be better at — be it public speaking, using social media, or analyzing data — how do you start? Of course, learning techniques will vary depending on the skill and the person, but there are some general rules you can follow.
What the Experts Say
Mastering new skills is not optional in today’s business environment. “In a fast-moving, competitive world, being able to learn new skills is one of the keys to success. It’s not enough to be smart — you need to always be getting smarter,” says Heidi Grant Halvorson, a motivational psychologist and author of the HBR Single Nine Things Successful People Do Differently. Joseph Weintraub, a professor of management and organizational behavior at Babson College and coauthor of the book, The Coaching Manager: Developing Top Talent in Business, agrees: “We need to constantly look for opportunities to stretch ourselves in ways that may not always feel comfortable at first. Continual improvement is necessary to get ahead.” Here are some principles to follow in your quest for self-improvement:
Check your readiness
When working on a new skill or competency, you need to ask yourself two things. First, is your goal attainable? “There are certain limits to what you can learn,” explains Weintraub. “For example, you may want to be a brain surgeon, but not have the eye-hand coordination required.” Second, how much time and energy can you give to the project?