You'll be rich if you start today these five habits

"It’s not how much you earn, it’s how much you burn!"

You know everyone wants to be a billionaire or millionaire. No one wants to stay poor in their life. Many people want to live a luxurious life and travel to beautiful places in this world.

But most of them ( 99% ) can't do that in their entire life.

Many read books about money and finance to know how to build wealth and become multi-millionaires.

The reality is different reading a book or buying a self-help book may feel good and give a sense of accomplishment but you've not accomplished anything ( literally zero ) in the real world.

You need to take action and build the right finance habits continuously that'll compound'll make you rich.

After reading books and blogs with listening to several podcasts I've come up with some habits that you need to achieve your financial freedom.

1. Monitoring Income And Expenses

As you read above "It’s not how much you earn, it’s how much you burn!"

Your financial freedom more simpler than you think. Financial freedom is mainly about the function of cash flow it's about how your cash comes and goes.

It's important to figure out where your money is going that's why budgeting every month is crucial. At first, you need to find out your "needs" and "wants" in your life

Needs: A need is something necessary to live and function.
Wants: A want is something that can improve your quality of life.

Remember you aren't a millionaire yet you've not developed your assets basket so you need to manage money properly to invest and build your assets basket.

Many billionaires and millionaires spend only when it's necessary not because of showing off a rich lifestyle.

2. Have a great team.

You almost heard about "Your network is your net worth" and It's completely true too. In your circle, if everyone goes to the gym you'll be interested in going to the gym too when it comes to becoming rich and healthy it's true too.

You see almost 96% of self-millionaires and billionaires spend their time reading and building something but to get there where they're today they've surrounded themselves with people who are better than them so that they can learn and focus on the bigger picture.

They don't do anything or everything on their own it's a misconception that you need to do everything by yourself. You don't need to be a lone wolf start surrounding yourself with people better than you then delegate with them.

3. Listen more than you speak.

We always want to share our points of view with everyone first without being interrupted. We want everyone to know and understand our point but don't do that instead they listen more than they speak.

One strategy that I notice is they use the “5:1 listening rule.” this means 1 minute of speaking after that they'll listen for 5 minutes it's helps them understand others' opinions which can provide some perspective and strengthen their relationships with others.

4. Live below their means

You aren't a millionaire yet you need to manage your money properly so that you can invest. Your first step should be to create an asset column that can generate money.

Billionaires and millionaires learned this early they must live below their means to create wealth in the beginning. They never waste money on things that don't matter instead they invest in their business, business, personal development, and savings.

In addition, they're more likely to be committed to building long-term financial stability than displaying their wealth or riches.

5. Habit of Investing

It's last but not least investing becomes wealth mainly impossible. You need to invest in your asset column to create perfect cash flow. Financial freedom is mainly about the function of cash flow.

This is important for you to differentiate your wants and needs properly. Weekly habits of investing from today onwards have more massive returns than investing in your 50s.

If you're young investing small amounts even counts so you can invest your monthly pocket money and by living below your means. The earlier you start the better.

Be aware don't just invest by watching someone on YouTube or in their influence. Do your research.

That's for today.

Keep improving.
Stay focus.

Kaustav. 🧠. ( Bye )