8 Habits for Financial Success

8 habits for financial success

Financially successful people have several habits in common. Here are 8 habits I’ve observed in people who are successful financially:

1. They spend less than they earn.

Spend less than you earn, prepare well for emergencies and catastrophic events, and you’ll be in pretty good shape right there.

2. They are concerned with how much things cost.

All the well-off people I know use coupons, check prices, and try to get good deals. They don’t, however, use coupons or buy things just because “it’s a good deal”. The only use them for things they would be buying anyway.

3. They’re generous with their time, advice, and money.

They donate to selected charities, they give thoughtful gifts to their family and friends, they’re there when you need them, and they’re open to giving advice or telling about their experiences if asked.

4. They’re not afraid to say no.

Generosity does not equal being a pushover or having a lack of foresight. The word “no” is a great addition to any vocabulary, especially when people make requests that are unreasonable or that are not feasible. “No, I’m sorry, that’s not something I can do right now” works great.

5. They value hard work, in themselves and in others.

Come to think of it, the well-off people I know are all small business owners — or they were before they retired. (And if you’ve ever owned a small business, you know just how much hard work is involved.) They are hands-on people. They make things happen, and don’t wait around for wealth to magically appear. When they fail, they get up and try again.

6. They don’t buy things they can’t pay for in full, right now.

(Although they may still use credit to earn rewards.) This goes along with the ability to say no. When they want something, they don’t use “creative financing” or finagle some way to buy it anyway if they don’t have the money or if believe the money could be better used for something else. No, they wait until they have the money or work harder to get it sooner.

7. They save and invest regularly.

Once they’ve made their money, they do useful things with it. They invest for the long term; they think about what they want their future to look like 20 years from now, and what they want to leave to their children. They also save for rainy days, and for specific things they’d like to buy.

8. They pay attention, learn, and grow.

Financially successful people are aware. They pay attention to the details, and don’t let things pile up. They make sure they do things right, even if no one else would ever know. Integrity matters, as does constantly learning and growing.


  • I think learning is a really understated attribute. I remember looking at survey information between well off people and everyone else. The differences for things like watching TV vs reading books was astonishing. Those who are well off tended to use their time productively to continue to learn and grow as individuals. They didn’t want to watch some mindless reality TV show that didn’t enrich their lives.

  • The thing that I find separates someone who is wealthy and who is poor is information. Having the right information at the right time is a great thing to have especially when you have cash on hand to act on it.

  • These are all vital to financial health and freedom. I struggle to say no sometimes, especially when it comes to close friends and family.

  • I am always concerned about how much things cost. I rarely buy anything unless it’s
    on sale. The temptation to shop during the holiday sales is always present for me because I am a former spend-a-holic, but this year I didn’t give in to any buy one get one half price sales. I am very proud of myself. Great post Jackie.

  • Jon

    This basically lays out the majority of millionaires in this country. Sadly TV and movies portray the rich as spending machines when really, the majority of them value their money and do the tips you laid out above. If you want to get ahead financially, regardless of how much you earn, follow these tips.

  • It does take a lot of discipline to follow these tips. There are a lot of temptations in this world and we tend to indulge into these temptations rather than trying to be frugal and improve our financial status.


    awesome tips, made everyone that likes this page can encourage each other to save and invest for a rainy day. Be frugal, save, and invest. also a dollar save is a dollar earned in the long run.