5 Money Habits Of The Wealthy That You Can Do Too!

Here are five habits that wealthy people do that you should too! These habits aren't very hard, but the rich want you to think that they are. Money is essential for life but is so taboo to talk about. I want to share with you what I've learned with the help of a few experts so that you can start thinking of your own wealth potential.

1. Talk to a Financial Adviser.

This is a tip that most wealthy people practice. Notice that they have people helping them invest and have their money make them even more money. I use to think that this was something you had to have a lot of money to start doing, but that's completely a myth. Most banks have a Financial Adviser to help you setup retirement, life insurance and savings. I was also worried that they would judge me because of my debt. They never did! Financial Advisers also teach you tips to save money on taxes and put you on a plan for financial independence. I wish I would have done this in my 20's instead of my early 30's. The cost of this usually comes out of your investments; meaning they take a small percentage of the money you make with your investments. There is no cost to meet with them.  Their motivation is to help you save money and make money so you can reinvest it with them.

2. Invest

I use to think this was so scary and it was just like gambling your money away. That is so not the case! Investing some of your personal savings in the stock market on top of your retirement is a great idea and not scary at all. Keeping all of your personal savings in a bank is a terrible way to make money. The savings percentages are less than 1%, meaning you'd be making cents in interest every month instead of dollars. Now let's say you take $1000 and invest it into a mutual bond on the Acorns app. You would make an average of around 3% making you about $30 or more a year depending on how much you put into your savings every month.

3. Have More Then One Source of Income.

There are so many opportunities in this digital age to gain other forms of income. For example, I started to resell online with items that are in my closet and then used that money to buy items to resell for a profit, making around $100 to $150 a month.  I have also started this blog and plan to start a YouTube channel in hopes of gaining some revenue from advertisers or sponsors. I also make floral arrangements so there may be an Etsy store is in my future!  Now, I strongly advise you to not to get involved with any business that promises you easy money, but requires you to pay money upfront to sell their products. They will also encourage you to sign other people up as well to sell, this is your typical pyramid scheme. I'm talking about turning something that you're good at into extra income. Like if you make crafts, why not start and Etsy store? If you have a beautiful property, why not look in to renting it out for weddings and parties? If you are a musician, why not start doing music lessons? If you use to be a soccer player, try coaching some kids! The best way to figure out what this second source of income could be is to just start writing down your strengths. The key to success is to make the second form of income something you really enjoy.

4. Spend less than you have, and you'll always be rich!

I have money put into savings that I don't even think about, it's like I never had it to begin with. I make my budget less than what I make. To make this easier for myself, when I was younger I use to treat my savings account like it was a bill that I had to pay every month. Our retirement comes right out of our paychecks. Sometimes, you completely forget about the money you put away and it totally feels like finding a $20 in your pocket when doing laundry everyday for a month!

5. Become Debt Free

Financial independence is not just for the super rich but can be equal for all. Now, my husband and I are not completely debt free. We still have our home to pay off, but we see the light at the end of the tunnel. With the help of our advisers, we know that this'll happen in the next ten years and that we'll be able to retire early.

I am no expert by any means and only share with you what I have learned. It is not how much you make but what you do with it that counts. I think of money differently and now understand how to leave my family a legacy that they can in-turn leave to their's.  I wish I had done it 10 years ago.