Yahoo Finance Money Pro Nischa Shares 5 Habits of Millionaires That Can Change Your Life
True or false? Most millionaires inherited their wealth.
It may come as a surprise that the answer is false, and it’s not close. Almost 80% of millionaires are self-made and became wealthy by being consistent with their habits. If you’re hoping to become a millionaire yourself, you may want to take note.
Learn More: 6 Reasons the Poor Stay Poor and Middle Class Doesn’t Become Wealthy
Find Out: 3 Genius Things All Wealthy People Do With Their Money
Nischa, a former investment banker turned YouTuber, posted a video detailing five millionaire habits she’s incorporated into her life. Since implementing these daily habits, she’s wasted less time, been more productive and tripled her income.
Wealthy people know the best money secrets. Learn how to copy them.
1. Surround Yourself With Great Minds
Many say that the friends you surround yourself with will significantly impact your success. Nischa decided to put this to the test, initially looking through some studies. One study found that if one of your friends becomes obese, you have a 45% greater chance of gaining weight over the next two to four years. And if a friend of your friend becomes obese, your chances are 20% greater.
Nischa explained that even people you aren’t friends with can have an impact on your life by affecting your friends. This happens because your perceptions about what is normal change with your friend group. It’s important to be mindful of your friend group and your entire network to normalize success.
Explore More: I’m a Frugal Self-Made Millionaire: 6 Things I Never Waste Money On
2. Get Out of Your Comfort Zone
When Nischa started her channel, it was a nerve-racking experience. She mentioned one point, in particular, when she’d climbed to 6,000 subscribers. A friend showed her a WhatsApp conversation with people she knew making fun of her channel. As her channel progressed, she opened herself up to more criticism and needed to decide if she would continue or stop altogether.
Nischa continued with her channel, and now she has over 1 million subscribers. She said that no matter what you do in life, you’ll need to open yourself up to the potential of awkward situations, embarrassment and uncomfortable moments. If you don’t challenge yourself and instead stay in your comfort zone all the time, you’ll never know what you can do.
3. Reject FOMO
FOMO is an acronym that means fear of missing out. Social media makes it easy to suffer from FOMO at every turn. You’ll notice your family and friends going to dinner parties, traveling and buying new cars. This FOMO can result in constant pressure that drives you to compete with those social media updates instead of focusing on where you want to improve your life.
Focusing on your desire to succeed increases the possibility of it happening. On the other hand, obsessing over what everyone else is doing will hamper your productivity and, in turn, your results. Nischa noted that the best way to eliminate FOMO from your life is to find meaning in what you’re doing and remember how it’s part of the bigger picture.
4. Embrace the Millionaire Pyramid
Whenever Nischa’s journey to success hits a wall, she thinks about the millionaire pyramid. She explained that the millionaire pyramid is the idea that a journey’s difficulty is inversely proportional to the number of people who will reach the top. You, along with many others, start a journey at the base of the pyramid. As you continue to ascend the pyramid, the journey gets more challenging, and people begin to give up. The journey continues to grow in difficulty and the crowd continues to thin out until the very few who stick with it reach the top.
Nischa said that the longer you stick with something, the greater the rewards will be. Failure is a part of any challenge you take on, and to be successful, you’ll need to overcome all of the failures in your path.
5. Focus On the Solutions
A game-changer on Nischa’s road to success has been a shift in focus from problems to solutions. After being around successful people more often, Nischa found that they see problems as puzzles they just haven’t solved yet. When a problem arises, many may focus on why it won’t work out. However, successful people focus on how they can make it work for them.
Bonus: Think Days
To overcome mental blocks, Nischa has implemented “Think Days.” This idea stems from Bill Gates’ tradition of having a “Think Week.” This entails disconnecting from all distractions and turning off all communications for a week to focus on reading, learning and thinking.
While she hasn’t been able to commit to an entire week like Gates, Nischa has started giving herself Think Days. At least once a month, she secludes herself for a day without any technology. This allows her to step back from the day-to-day grind and look at the bigger picture.
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