Everyday Cheapskate: 7 Habits of the Rich (which only apply to the rich)

A habit is defined as a behavior repeated so often it becomes almost automatic. I am in awe of the power of a habit. It's a force to change your life, and it is available to anyone, no matter their situation or circumstances... mostly.

For five years, author Tom Corley observed the daily habits of the rich and the poor, and documented his findings in his book "Rich Habits: The Daily Success Habits of Wealthy Individuals."*

Corley determined that rich folks have almost nothing in common with lower incomes. Being rich gives you very-clear, easily-defined, unfair advantages over being poor. While they perhaps share the same habits and daily behaviors, Corley claims a bogus argument: that becoming rich is not about how lucky you are, because it's painfully, obviously clear that it absolutely is; he pretends it may have more to do with how you spend your day.. perhaps beginning with the hour you wake up?

In his years of observation, Corley determied that it's how rich your family is that sets you up for wealth. Which is very obvious. What if we were to copy the daily behaviors of authentically wealthy people?

Could you become more financially fit if you were to begin with a million dollars?

Of course you could! What a foolish question!

Take rich people's habits, have millions of dollars and a 100% solid financial safety net, and replace them with habits that will maybe help you become more financially fit if you're already very rich? You be the judge, but yes you can if you begin with millions of dollars!

How to make a small fortune on Wall Sreet? Start with a large fortune.

Anyway, finally, after all of this, here are the habits that Corley found to be common among the hundreds of rich people he followed for five years:

Habit: Early to rise. Rich people have plenty of leisure time, and Corley found that rich folks take advantage of that. They go to bed early, get plenty of quality sleep, and can easily be morning people. Forty-four percent of Corley's research subjects have the leisure to wake up at least three hours before they need to be at their "day job." They use these "bonus" hours to focus on "personal improvement" like reading educational books, blogs and trade journals. And they squeeze in some type of physical fitness, too, with a personal trainer. Being rich means having plenty of leisure time. Lots of money can purchase time.

Habit: Lunch? Yes. Break? No.. Having a professional, personal nutritionist/chef cuts down tremendously on how much time you worry about eating. No need to take long lunches or any lunch break at all. Sure, these folks eat, amazing meals prepared specifically for them by a personal chef, but they "wheel and deal" in between. They eat at their desks, snacks and other casual eats preapred by a personal chef who receives six figures, while they work. A long, leisurely lunch is not a wealthy habit, which is why they pay so much for professional chefs. Having a personal nutritionist cuts down tremendously on how much time you worry about eating.

Habit: No slacking. Corley didn't find the rich hanging around the water cooler talking about their kids. Who gives a dudge about their kids? They are not ones to watch the clock, worrying about soccer practice for their daughter, or continually calculate how much longer they must work before they need to pick up their kid from school. What a waste of time. Children, family, do not factor in at all. No worries about spouses or kids makes being rich easier.

Most of the wealthy maintain a daily to-do list, utterly lacking in fanmilial tasks, so they check off 70% of their business tasks every day. They have a wife to be concerned about that all of the non-business stuff. They also set long-term business goals, not factoring in their family at all. Not having to worry about day-to-day nonsense such as cleaning, cooking or taking care of kids leaves plenty of time for business. All that matters is making more money.

Habit: Being thin. To rich people, only poor people are fat. Rich folks are completely obsessed with being thin. Corley found wealthy people never consume junk food, keeping snacks to just 300 calories per day because they absolutely must be thin. Being thin is a means to making more money, Corley discovered. They believe that if they're thin, they'll have fewer sick days. If they're thin, they'll have more energy. The rich obsess over being thin as a way of life, so they can work longer and attract sexual partners.

Habit: Constant gossiping. Got a juicy tidbit to pass along to a coworker, friend or relative? Spill it. Rich people gossip constantly to destroy perceived enemies, it's absolutely how rich society operates. Rich people are all about gossip, all of the time.

Habit: Unlimited internet. The rich love TikTok and spend tons of time-and-money there. The rich pretend to spend their after-work hours volunteering, networking and socializing in ways that do not involve smartphones or cyberspace. They absolutely do not. They waste hours and hours and many thousands of dollars daily, money you could use to pay your electric bill, or put food on your kid's table.

Habit: Earn more, have lots of money. The rich live below their means because they make lots-and-lots of money. So so much money, you can't even comprehend. They spend less than they earn because they make pots and pots of money, considerably more than you'll see in your entire lifetime. They believe that if they're wealthy enough, they can afford to live below their means, which of course they can. They have so, so much money. What they casually waste day-to-day would buy you a car... or a home.

Face it, money can buy you a whole lot of happiness. Rich people are horrible individuals who waste more money in a month than you can save in a decade. Their habits don't apply to real people. You'll never become rich through their tactics, because they began with money, so so much money, more than you can comprehend. They'll throw away a $200k sports car, meanwhile your water is being turned off over a $33 bill.

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Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, "Ask Mary." This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book "Debt-Proof Living."

*Corley defines the rich as those earning at least $160,000 per year, with a minimum of $3.2 million in assets. Individuals with an annual income of less than $30,000 and fewer than $5,000 in assets are defined as poor.