5 Millionaire Habits You Should Start Practicing

In memory of Steve Jobs, the co-founder of Apple, Inc. and creator of the famous iPhone, iPod, iPad in addition to dozens of other inventions, I have compiled a list of habits that he and other prestigious millionaires have done in an effort to be financially successful.  As I am sure all of you know, Jobs passed  away Wednesday, October 5, 2011, after a tumultuous fight with pancreatic cancer and in tribute to his iconic genius and contributions to the tech and communications world, this blog post is dedicated to him.  Jobs became a millionaire because he found a job that he loved and excelled at.  He  has forever changed the way human beings communicate by creating easy-to-use devises that have revolutionized the technological industry.  Below are 5  tips that any regular person can incorporate into their lifestyle in an effort to acquire wealth and live a prosperous and peaceful life.

1. Do what you love

Your job should always encompass some aspect of one of your passions about life!  People spend nearly 60 percent of their lives at work – why not spend the majority of your time doing what you are passionate about?  If you find a passionate job that you love to do, there is a much higher chance that you will be good at it and therefore make significant money doing it.

2. Learn from your mistakes and fail forward

Millionaires and billionaires arise from not getting upset about their failures, but rather learning from those mistakes and focusing on the solution.  Everyone is going to face failure in their life time.  All successful people have dealt with failure at some point in their life — it is important to accept this and look at the positive that comes from it. Still not convinced of this theory?  One of the most famous athletes and millionaires in American history, Michael Jordan, has failed more times than any other NBA basketball player and there in lies how he revolutionized basketball and became the best player of all time.  Jordan has lost 300 games (that’s more games than many NBA players have court time in) and missed over 9,000 goal shots in his career, yet he didn’t let it persuade him from trying to improve and succeed at his craft.  He learned from his failures and moved on to work harder and better ultimately leading him to great wealth and success  at his job.

3. Stay hungry

To build wealth, you have to work tirelessly and be dedicated to achieving success.  Being consistent, hungry and passionate about your work and building wealth needs to stick with you every day of your life in order for you to truly be successful in the long-run.  Remember the infamous idiom: Rome wasn’t built in a day.

4. Save, Save, Save!

Rich people become rich and stay rich by saving money and cutting costs where they can.  Just because you have money in the bank does not make it OK to blow it on frivolous purchases.  Investing and saving for long-term goals is one key strategy for increasing your wealth. Just think, if you have a bunch of money saved, you will never find yourself in debt and we all know you cannot have debt and be rich – it’s a complete oxymoron.

5. Avoid frivolous fees and unnecessary expenses

Even the richest people don’t want to waste their money on bogus fees, charges and interest.  Just because someone has a lot of money doesn’t mean they want to throw it all away.  In an effort to gain and keep wealth, know the policies of all your banks, credit cards, cell phone provider, mortgage loans, etc.  This will allow you to figure out how to avoid wasteful spending that could in the long-run, eat into a big chunk of your wealth.