Today, I want to share with you 5 winning habits that can enable you to change your life.
These are habits, which you can consider applying to your life if you are currently not doing it at the moment. But if you do apply them, you will be on your way to achieve financial abundance.
These are habits that the rich are currently practicing themselves.
1. Surround Yourself With Positive People
In today world, we are constantly surrounded by bad news. Bad news that appears on facebook, newspapers or from people around us. We may sometimes also face a tough time in the office.
Therefore, it’s extremely important to surround yourself with a group of positive people as often as you can. Because when we do that, it’ll help us to recharge our “battery” once again and give us the energy that we need.
This is what the rich currently practices too. They surround themselves with other rich and successful people and that’s why they continue to be rich and successful. Being in a group is powerful and it far exceeds the amount of things you can accomplish if you were to be by yourself.
2. Manage Your Time Effectively
This can be a tough one to do in a busy Singapore. However, you’ll notice that successful people have busy schedules but yet they are able to accomplish a lot.
They are able to do so because they prioritise what has to be done first. People “feel” busy because they have many things on their mind or on their to do list and they spend their time worrying. However, if you prioritize what needs to be accomplished first, then you’ll notice you’ll effectively knock down your list of things.
Once you prioritize, set a power hour and do nothing but that task you’re trying to accomplish. Close all emails, facebook and everything else and just focus on that 1 thing.
Practice the power of ONE.
3. Be Sure Avoid Emotional Spending
I once watched a video and it said that poor people buy “stuff”. And I think it can be quite true. We see this happening on a weekly basis actually. Whenever there’s a sale or promotion going on at a store, we sometimes have the temptation to buy stuff even though we may not need it.
We bought it because there was a sale going on. But if this happens repeatedly, you’re just simply spending money emotionally.
On the other hand, the rich avoids buying “stuff”. Instead, some will consider carefully on what they’re spending. And they tend to buy “things” that will pay them instead. In other words, assets that gives them passive income.
4. Make Sure You Invest Wisely
For a new investor, every investment may seem attractive. However, it’s important to make sure that you take a step back to consider every investment before making a decision.
However, if you really feel that you are going to lose out if you’re not entering an investment, avoid placing all your money into one investment.
Make sure you diversify your capital that you have into other investments. Because if you don’t diversify, you’re going to be in big trouble.
Think of it like you’re walking into a casino and you decided to place all your bets in 1 sitting of a blackjack game.
When you do not diversify, it’s like that scenario. You’ll want to make sure that you are able to park your money into many different games.
5. Ignore the Opinions of Others
Now this can be a tricky one.
I think Jack Ma is one perfect example of how he ignored the opinions of others.
Before he founded Alibaba, he invited 24 friends over to his house to discuss about the business opportunity. At the end of it, 23 out of 24 people told Jack Ma that his idea will not work.
He stood by his decision and today Alibaba is a company is that is worth billions of dollars.
Just imagine, what if he listened to the 23 who told him that his idea would never work?
Sometimes, a lot people spend too much time asking everyone about what they think about their idea and never ever get started.
They spend their time asking for people’s opinions until they become lost and confused.
You need to trust yourself.
However, there has to be a balance because we have to be open to listening to people’s feedback as well.
If we don’t open our minds and listen, we will miss out on valuable information that can help us to achieve what we want more effectively.