It takes a lifetime for some to earn enough money to make ends meet, let alone become a billionaire. But becoming a billionaire may not be as difficult as being to remain one.
There are a few habits that we may take from some of the renowned people to achieve the heights that they have.
1. Less is always more.
If you take a look at self-made billionaires, you’ll notice they aren’t constantly pursuing fancy handbags or shiny sports cars. Take Mark Zuckerberg, for instance, who has over 50 billion dollars and drives a Volkswagen Getta.
Really successful individuals know that true luxury is being able to pursue their dreams, instead of being shackled to their spending. So they make a daily effort to grow their wealth and use it on future endeavors, instead of blowing it on the latest “must-have” purchase.
2. Don’t just save but invest.
Saving is an important practice but is it really enough? Maybe not. Many billionaires and constant investors and that has only added to their status.
A small but smart investment may speed up the process of adding in on your bank balance.
3. Be prepared to learn something new every day
Self-made billionaires take time to study the trends, concepts, and financial news each day to become an expert in their field and stay up to date on what’s current. For example, Warren Buffett reportedly spends up to 80 percent of his day reading, and said his knowledge stacks up “like compound interest.”
4. Keep your mind and body healthy
Entrepreneurs like Richard Branson tout the value of regular exercise — he famously notes that that regular physical activity can give you back four extra hours of productivity each day. It can also boost your mood and prevent diseases like stroke, metabolic syndrome, type 2 diabetes, and depression.
Apart from physical exercise, mental health is just as important for the self-made billionaire. In fact, Twitter CEO Jack Dorsey wakes up at 5 a.m. each day to meditate.
5. Debt is A big no-no.
We are not talking about the debts which one takes as a necessity such as a home loan or an education loan but the ones that are taken for petty reasons.
Many big industrialists and executives have suffered severely due to this ill habit. “Shark Tank” star and tech billionaire Mark Cuban has had his fair share of struggles with credit card debt.
Therefore, always be wise in your transactions and before loaning money always plan it through.