This is the fifth post in my series based on a list Dave Ramsey posted entitled “20 Things The Rich Do Every Day“
63% of wealthy listen to audio books during commute to work vs. 5% of poor people.
While you have heard me say many times that the average millionaire reads at least one non-fiction book a month while the average American reads less than one book a year, this is a little different. Listening to audio books is a good way to get material into your head while you are otherwise occupied…driving. The good thing about them is that you can listen to a book multiple times and it is fairly effortless. All you have to do is listen and pay attention.
Many of the best business books in print are available as an audio book. I would add that many of the same people will listen to podcasts from speakers who are relevant to their area of expertise. For a list of the top ten audiobooks on itunes, click here. (Side note, I am happy to say that I have read six of their top ten.)
Do you listen to audiobooks? Podcasts? Anything other than music or talk radio when you drive? How has it helped you?
This is the fourth post in my series based on a list Dave Ramsey posted entitled “20 Things The Rich Do Every Day“
76% of wealthy exercise aerobically four days a week. 23% of poor do this.
Having a great mile time doesn’t guarantee riches. Not one of the things in this series will guarantee that you will grow rich. Each one though points to discipline in life. A year ago, I trained for a marathon. I didn’t win, but I did compete in two of them. The good news is that I completed both of them without any injuries. More importantly I felt healthy. It was nice to know that I could go out and run a long distance without collapsing in pain and agony and out of breath. It took a certain amount of discipline to do this.
While there are plenty of examples of fat and out of shape rich old tycoons, the truth is that most of the very successful people that I know are in fairly decent physical shape. They may not be Mr. America, but they work out. Many run, some lift weights, most do some kind of life activity like competing regularly in races, dancing, playing tennis or some other activity that gets them up and moving aerobically at least a few days a week.
One side benefit to being active is that you meet people. Making those connections can help with making money too. Some people make a living by connecting other people well. When you have more friends, it opens up opportunities for helping each other out, cooperating in business ventures, inspiring one another, etc. Having a running buddy or two give you time to talk with them about many things. You can share plans, critique each others ideas and get in shape at the same time. This is never wasted time. At worst, you get in better shape!
This is the third post in my series based on a list Dave Ramsey posted entitled “20 Things The Rich Do Every Day“
80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.
Just do one thing! This is a hard thing for most of us to do. We want to be good at everything. It is right there that the problem comes out. The opposite of Great isn’t Horrible, Bad or Awful. The opposite of Great is Good.
When a painter was picked to paint the Sistine Chapel ceiling, they didn’t look for a painter who was “good enough” they wanted a great painter. Michelangelo worked on that one single goal from 1508-1512! On a smaller scale, When you want a plumber you want a great one, not just an OK one. The same can be said of any professional.
One of the things I love about my pastor is that he is very committed to our church and to his belief that people need Jesus Christ in their lives. He doesn’t waver on that. It is his one single goal….and it is a goal he inspires in others as a leader. This one single goal has led our church from being a Bible study in a living room with 15 people to over 50,000 people last Christmas!
Think of just about any successful person you know and you will immediately know what that one thing is that they are about.
What is the one thing, that one single goal in your life?
This is the second post in my series based on a list Dave Ramsey posted entitled “20 Things The Rich Do Every Day“
23% of wealthy gamble. 52% of poor people gamble.
Some people refer to gambling or playing the lottery as a “voluntary tax”. One more point to make is that the rich likely can afford to gamble the money they are putting up for a bet. It is simply entertainment for them. For the poor it is a wild shot at making it…which rarely works. In fact, many people who win the lottery end up bankrupt (between 33% and 70% depending on which source you trust.)
Gambling isn’t a get rich scheme that works…Unless you open your own casino. The house almost always wins eventually.
There is a reason that there is a group called Gamblers Anonymous, but not a group called Wise Investors Anonymous.
Years ago, I worked in a convenience store. There was a lady who would come in every day to buy scratcher lotto tickets. One day, she had lost quite a few in a row. She turned to her kid who was there with her and said, “Give me the two dollars I gave you for lunch money. I know the next one will be a winner and I will pay you back.” I did what no convenience store clerk is supposed to do..I cut her off. She cussed me out. (FYI, the next ticket, which I sold a while later to someone, was a loser.)
She lost her marriage to her addiction. Her husband of many years loved her dearly, but couldn’t financially stay ahead of her spending. They should have been wealthy…he made a lot of money.
I am not saying that playing a round of poker with friends will make you broke, but it does seem that a habit of not gambling is healthier for your bank account than a habit of gambling.
According to Tom Corley, “85-88% of American millionaires are self-made, first-generation rich.” So what are some habits that will help you get there. Following this series isn’t guaranteed to make you rich, but I do believe it will increase your odds greatly!
Dave Ramsey posted a list of “20 Things The Rich Do Every Day“. This series will look at each point in the list and hopefully inspire myself and you to make a change or two in our habits. Habits are simply things that we decide are worth making a priority until they become a part of who we are.
Starting out the list is a statistic about eating! (I shall put away my Mountain Dew and bag of Doritos while I work on this post.)
70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day.
So what does this possibly have to do with being rich vs. being poor? When we don’t take care of our bodies and eat a lot of junk food, it gives us less energy for doing the productive things in life that will get us ahead. It takes energy to work. It doesn’t matter if that is physical labor or mind work or emotional work, it takes healthy food in our bodies to do it well.
The part of us that is disciplined will be the part that makes the smart decisions instead of the lazy ones. It is this same desire to control our diet that will help us control our spending, control our desires to do stupid things with our money instead of doing the smart things.
It is much easier to eat junk food, just as it is much easier to end up poor. It is harder to have the discipline to eat well in a similar way that it is harder to have the discipline to work smart and earn money, and budget so that you can keep and invest some of that money.
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