5 habits of financially successful people

Business Insider | 9/13/2017 | Dan Danford, Investopedia
Mkgirlz (Posted by) Level 3
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There are a lot of good ways to measure success and my favorite definition rises from personal or family goals.

To me, success is awareness of specific goals and deliberate action toward those goals. There are often distinct financial steps along the way and the attainment of each step is reason to celebrate.

Course - People - Goals - Ones

And, of course, most successful people create new goals as they finish the old ones.

Your measures of success likely differ from mine. That's fine. However you define success, these are some common traits I see among the most successful people I know.

Warren - Buffett - Bill - Gates - Friends

Warren Buffett and Bill Gates are fast friends. That's not a coincidence. Whether it's through church or community clubs or work groups or neighborhood fellowship, "nothing succeeds like success" (a quote from my father Thad Danford). People tend to gather based on common values and goals and good friends inspire each other. My observation is that people of similar values often share similar life goals.

One of my observations is that little things don't matter so much if you get the big things right. I read one article that suggested 80% of our work time is wasted. I'd be slightly more diplomatic and suggest that just 20% of our efforts are spent wisely. But if you spend that 20% right - moving towards your stated goals - the other 80% may not be that important anyway.

Home - Budgeting - Articles - Pizza - Latte

Those home budgeting articles often criticize a weekly pizza or daily latte at Starbucks. That costs you "hundreds of dollars each year" and it has to be a "stupid waste of money." Yeah, that's exactly why people ignore those articles. The truth is that a family with solid education, an emergency savings account and contributing regularly towards the 401(k) can blow a few bucks on pizza or coffee. Seriously, lighten up people.

Many working people...
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