When it comes to earning more money and growing your wealth, sometimes all it boils down to is establishing key habits and making small lifestyle changes.
“Success is a learnable skill,” emphasises T. Harv Eker in his book, “Secrets of the Millionaire Mind.” “If you want to be a great golfer, you can learn how to do it. If you want to be a great piano player, you can learn how to do it … If you want to be rich, you can learn how to do it.”
If you want to learn how to get rich — how to grow and master your money — consider these eight lifestyle changes:
Start hanging out with people you admire.
Andrew Carnegie, who started with nothing before becoming the richest man in the country, credits all of his riches to one principle: the Master Mind.
The idea is that you surround yourself with talented people who share your vision, because the alignment of several smart and creative minds is exponentially more powerful than just one.
Plus, we become like the people we associate with, which is why the rich tend to associate with others who are rich.
'In most cases, your net worth mirrors the level of your closest friends,' explains self-made millionaire and author Steve Siebold. 'Exposure to people who are more successful than you are has the potential to expand your thinking and catapult your income. The reality is, millionaires think differently from the middle class about money, and there's much to be gained by being in their presence.'
Bury your head in books.
Rich people would rather be educated than entertained -- if you want to be like them, cut the cable and dive into books on investing or personal finance, or pick up a successful person's biography.
'Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they have used to educate themselves on how to become more successful,' Siebold writes.
Take billionaire Warren Buffett, for example, who estimates that 80% of his working day is dedicated to reading.
While the rich don't necessarily put much stock in furthering wealth through formal education -- many of the most successful people have little formal education -- they appreciate the power of learning long after college is over.
Get used to doing uncomfortable things.
If you want to build wealth, be successful, or get ahead in life, you're going to have to get used to uncertainty or discomfort.
Rich people, in particular, find comfort in uncertainty. 'Physical, psychological, and emotional comfort is the primary goal of the middle class mindset,' Siebold writes. 'World class thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty.'
If you want to get rich, you have to be OK with being uncomfortable. If you're not, learn how to be, Siebold advises: 'The great ones know there's a price to pay for getting rich, but if they have the mental toughness to endure temporary pain, they can reap the harvest of abundant wealth for the rest of their lives.'
Start adopting this mindset today with one of Siebold's suggested strategies: 'Make a list of the five things you must do today that are uncomfortable but will help you build your financial fortune.'
Wake up earlier.
They say the early bird gets the worm, and there may be truth behind those words.
Early risers get a head start on everyone else by responding to emails, exercising, meditating, or reading before many of us have even hit the snooze button -- and they are happier and healthier because of it.
Some of the most powerful, successful people swear by an early wake up call -- if it works for them, it could work for you.
Put your money to work.
One of the most effective ways to earn more money is to invest it, and start as early as possible.
'On average, millionaires invest 20% of their household income each year. Their wealth isn't measured by the amount they make each year, but by how they have saved and invested over time,' writes Ramit Sethi in his New York Times bestseller, 'I Will Teach You To Be Rich.'
The great part is you don't need to be rich to invest -- you just need to be diligent about setting aside a portion of your money on a consistent basis. The more you can set aside the better, but even a little bit can go a long way, thanks to compound interest.
The simplest starting point is to invest in your employer's 401(k) plan. Next, consider contributing money towards a Roth IRA or traditional IRA, individual retirement accounts with different contribution limits and tax structures (which one you can use depends on your income and the tax implications). If you still have money left over and are hungry to continue investing, you can research low-cost index funds, which Warren Buffett recommends, and look into the online investment platforms known as 'robo-advisers.'
For more information on investing, read up on the basics before diving in.
Set goals and visualise achieving them.
If you want to make more money, you have to have a clear goal and then a specific plan for how to achieve that goal -- money won't just appear; you have to work at it.
Rich people choose to commit to attaining wealth. It takes focus, courage, knowledge, and a lot of effort, Eker emphasises, and it's possible if you have precise goals and a clear vision: 'The number one reason most people don't get what they want is that they don't know what they want. Rich people are totally clear that they want wealth.'
Write down what Eker calls, 'play to win goals' for your annual income and net worth. Be realistic when setting a time frame to attain these goals, but at the same time, think big and don't be afraid to challenge yourself.