7 habits of millionaires that you can start applying today


If you’re just starting out on your money-making journey, the idea of becoming a millionaire might seem about as fanciful as the idea of winning the lottery

But, according to a Market Insights Report, there were 10.4 million U.S. households with a net worth of $1 million or more in 2015, which means it’s not quite as uncommon as you might think. 

Read more: 6 positive attitudes that self-made millionaires share

As it turns out, there are attitudes, beliefs and habits that tend to separate wealthy people from everyone else. And that doesn’t mean you can never become a millionaire, or even a billionaire, it just means you have to start thinking like one!

If you have a goal of becoming wealthy — or reaching financial independence — you’ll first want to implement certain beliefs, which in turn lead to habits. As the saying goes, the definition of insanity is doing the same thing over and over again expecting a different result. There is no doubt — millionaires have different lifestyle patterns and beliefs that the average person who doesn’t make as much money.

The good news is, anyone can implement these simple habits, if they have the will to do so! 

Here are 7 habits of millionaires you can pick up today 

1. Set goals. 

A goal is a very powerful thing. Goals are milestones that show you how far you’ve gone and how far you have to go. They motivate you to keep making progress.

People who have written goals are much more likely to achieve their goals that those who don’t, according to a Gail Matthews at Dominican University. But — and this is important — goals must be S.M.A.R.T.: That is, they must be specific, measurable, attainable, realistic, and time oriented.

Millionaires understand the importance of goals and the momentum that happens when you go from one goal, to the next, and then to the next. According to Tony Robbins, ‘Setting goals is the first step in turning the invisible into the visible.’

2. Have a clearly defined purpose.

Perhaps even more powerful than a written goal is the reason behind the goal, also known as your ‘why.’ 


Many large sales organizations train their salespeople to write down their ‘why’ and keep it someplace visible in addition to their goals, because the ‘why’ is the driving force behind the goal. When the going gets tough (and it will) your why will keep you going. 

As German philosopher Frederick Nietzsche said, ‘He who has a why can endure any how.’

Read more: These beliefs are what separate wealthy people from everyone else

3. Work hard. 

Just as a good idea is only a good idea until someone does something with it, a talented person without hard work will not get very far. Very wealthy people understand you need a combination of talent and hard work to get to the next level. After honing their skills, wealthy individuals not only work smart, they work hard too.

There seems to be a widespread assumption that millionaires had their wealth handed to them, and it was mostly due to the luck of the draw. But millionaires know this isn’t true. Self-made millionaires know the value of hard work, and their sweat equity is one big reason why they are where they are. They understand the meaning of the famous saying, ‘The harder I work, the luckier I get.’ 

4. Be a lifelong learner.

As Clark has said, lifelong learning is essential in this day and age to stay competitive. Even if you just want to make sure you’ll always be employed, maintaining a habit of always being open to learn new things is a must!

But millionaires master this habit, realizing that in order to progress, you must keep a mindset of continuous learning. 

Read more: Why rich people don’t hang out with this kind of person

5. Improve continually.

Another habit of millionaires is the idea of constant improvement. Clark has talked about the Sino-Japanese word ‘kaizen‘ on the show, which means ‘change for better.’ 

If you think about it, the world is always moving, so if we aren’t moving at least at the rate it is moving, we’re likely to fall behind. Millionaires are continually improving on their skills, their business processes and their investing strategies. It is the only way to go to keep pace. 


Olympic gold medalist Kim Collins once said, ‘Strive for continuous improvement, instead of perfection.’

6. Diversify. 

The beauty of diversification, whether you’re talking investing or sources of income is one simple idea: If one house falls, the others will be there to support you. It’s never really wise to put all your eggs in one basket.

As Wes Moss, host of Money Matters has said, ‘Diversification is the key to mitigating risk.’ Millionaires know this, and in order to shelter themselves from the storms of life that often come, they diversify their businesses and their investments to be able to stay in the game for the long haul. 

7. Always persevere. 

‘Success is not final, failure is not fatal: it is the courage to continue that counts.’ -Winston Churchill

Millionaires tend to have great faith in their dreams which helps them to stay positive and not give up, even when others don’t believe in what they do.

Wealthy people maintain a positive attitude, in spite of negative circumstances or situations that life may throw their way, and they do not give up. This is perhaps one of the most important habits that separate millionaires from everyone else.

Read more: How much you need to save to be a millionaire in retirement

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