7 Habits that position the rich at the top with more wealth

Most people learn about money from their parents and the people around them while growing up. And if they are not born into a wealthy family where the subject of money is taught, the chances are high that they would grow up with bad money habits. This is why most people struggle financially even though they have a relevant skill that is supposed to produce a lot of money. The money habits of the rich are very different from those of the average person. The rich demonstrate that they have a lot of money and hence they keep having more. These are 7 ways they do this and have turned into a habit.

1. Budgeting

Budgeting is planning what you spend money on. This is not something you do when you get the money, this is something you do before you get the money. If you are thinking of what to do with money after you have gotten it, you don’t budget.

Budgeting can be an act or a skill. But for the rich, it is a habit. Many even set up budgeting systems especially in their business. They know what to do with money coming from each direction before it arrives. The habit of budgeting plays the foundation for predictive financial results.

Public companies have something called forward guidance where they predict the revenue and profit for the upcoming quarterly financial report. In most cases, this forward guidance has a margin of error of 10% or less. This is because of budgeting. They know where the money is coming from and they have designated where it is going to and they can predict what will happen as a result.

The rich also budget in their personal lives. When they spend lavishly, they are spending from money they have budgeted for lavish spending. It all looks the same to the average person but the rich understand it is the secret to consistent results.

2. Giving

Regular people say they don’t have to give. But rich people never say they don’t have to give. The rich don’t shy away from opportunities to give. The richest people give the highest percent of their earnings compared to any other group of people. Some would argue that it is because they have much that they give. But the truth is that they keep having more because they keep giving.

A clenched fist holds on to what it has and never gets more. Open hands always receive

The poor and middleclass people think they lose what they have when they give. And so they try to hold on to what they have. But it is in losing that what is bigger and better is found. People who are afraid to let go are people who find it difficult to receive.

Giving has a lot of advantages that makes the rich richer. There is the goodwill from the society that makes them get better deals done. There is the good feeling and state that comes after giving. There is the sense of gratitude and appreciation from the recipients that fuels the giver to have more. Giving makes the rich richer.

3. Fantasy Spending

There are things the rich spend money on that average people think it is just ridiculous. But even those purchases are very strategic. Fantasy spending is about buying things that make the rich feel on top of their game. It is important to have objects that inspire the financial results that the rich want.

The rich would spend as much as they can to put an object of inspiration that constantly reminds them of what is important to them

This is why the rich buy expensive artworks, gadgets, antiques, and so on. They can outgrow these things and sell them or abandon them. But such things play an important role in positioning them to have more. Some of those objects are a conversation starter to get a deal.

4. Tips

This is the idea of leaving tips for waiters and waitresses. It is well-known in that context but it extends to other areas. It is leaving people with the impression of increase. Those who cannot leave an impression of an increase with other people (especially young people) will struggle to have more.

Those who tip big don’t do so because the money is nothing to them, they do so because people means something to them

Tipping is not just about the amount, it is also about the attitude. Rich people make a habit of giving tips. And in some cases, the tips yield direct results in information. Nobody is insignificant. A piece of small information from someone you tipped can be a lifesaver. When someone you have tipped hears a negative plot against you, the person’s loyalty to you might just be your saving grace.

5. Make Friends

Most rich people are intentional in how to live and spend. Where their house is located, where they have lunch, and the clubs (and associations) they are a part of are important to their wealth. Rich people understand that amassing wealth is greatly influenced by association.

Rich people have a habit of using money to make friends

This is not about buying friends. Buying people often doesn’t end up well. But if you want to make wealthy friends, you have to go where wealthy people are. Being where wealthy people are costs money. The rich are not afraid to spend on this.

I heard the story of a guy who moved to a wealthy neighbourhood. It cost him a fortune, but he made up his mind to move up. In just a few weeks of relating with his new neighbours he got into a deal that made him the entire amount he spent in getting the new place. Association matters.

6. Reward Excellence

When rich people find someone who gets them an excellent result, they try to encourage that result. Rewarding excellence is something that produces more excellence. And money is a good reward. Anyone who doesn’t reward excellence will very soon settle for mediocrity.

The habit of rewarding excellence with money produces more excellence

This is quite different from a tip. A tip rewards service. Whether the service was excellent or not doesn’t really matter. Rewarding excellence is when someone assigned a task has gone over and beyond to deliver an excellent result. Payment is often attached to such tasks, but the reward for excellence is an addition to the initial agreed payment.

Rich people that make a habit of rewarding excellence attract the best talent to work for them. And this makes them richer in the long run.

7. Create Circumstance

Money is a great tool to create circumstances. This means to sponsor events. An event is a way to set up circumstances or moods for something to happen. Average people hope that circumstances will be in their favor. But the rich create the circumstance they want.

The habit of using money to bring people together positions the rich to have more

The rich use money to bring great people together. And when great people come together and have a conversation, great things come out of it. Average people put little or no value on conversations. But the rich understand how a conversation can lead to making a lot of money.


The rich just keep getting richer regardless of the change in the financial system. This is because there are laws that govern the flow of money. Those who demonstrate that they have a lot of money keep getting a lot of money. Those who say they don’t have to keep having less. They may think they are being honest, but they are just being ignorant. People who have the above money habits keep having more. Life is just that way.



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