The rich live according to these 5 rules, says the millionaire made to himself

There is not a single path that rich people follow to obtain their wealth.

Some are born with generational wealth That gives them an advantage, while others make their way through sand, determination and well -hard professional decisions. May’s fate also be a factor.

But there is a Few common habits Among rich people, Millionaire made to yourselfAuthor and television presenter Ramit Sethi wrote in a recent Information sheet.

“It’s time to stop worshiping rich people and start copying what they really do,” he wrote.

Here are five rules that Sethi said that rich people live and how you can use them to grow your own wealth.

If you know how much money earns in a year, you are already one step ahead of many of the Sethi people have spoken During the two decades he has been helping people with money.

“You have to Know your numbers“Sethi recently told CNBC to do it.” Surprisingly, 50% of the couples with whom I speak do not know their own family income. 90% of people in debt do not know how much debt they should. “

It is easy to track and obsess more than “$ 3 questions such as the price of eggs or a gallon of gas, Sethi said. But those factors are probably not making the difference between be able to retire and working full time to his golden years. Instead, concentrate on seven key questions, he wrote:

1. How much money do I do?
2. How much debt I have and when will I pay it?
3. What percentage of my Income goes to savings?
4. What percentage of my Income is invested?
5. How much of my income spend on housing?
6. What do I want to spend more and less?
7. What are my Money beliefs?

Of course, knowing the answer to these questions and not making any adjustment will not take it away. But understanding your own financial position is key to discovering what your next steps are.

“The rich people who are intelligent with money can tell him how much they will have next month, next year and even in five years,” Sethi wrote.

Rather Establish a budget and committing to follow him, try to put systems in his place to manage your money automaticallySethi said. Your savings, investments and invoices payments can be automated, so you don’t even have to think about things as if you can pay a vacation this year.

You can do it by configuring payroll deductions for transfers 401 (K) or automatic banking to your savings or brokerage accounts. In addition, you can establish money rules for you, such as deciding that a certain percentage of each Unexpected gain It is reversed and the rest can be used to have fun.

“Rich people do not bet their financial success about how motivated they feel today,” Sethi wrote. “They build hermetic systems that manage their money automatically.”

For better or worse, life is full of unexpected surprises. But what often distinguishes rich people is that they have a plan for the future, Sethi said. Not only have they Healthy emergency fundBut it also has a solid understanding of how they want their lives to look.

“Most people don’t know how much they should save or invest,” Sethi wrote. “They alone random Out of the air and then feel guilty for the next 45 years. “

Find out what exactly you want to be able to do with your money, whether you renounce work completely for when you are 60 years old or your own business begins when you leave your 9 to 5.

“Once you have decided that, you must create a timeline and make a plan,” Sethi wrote. “Build a system for your back to never be on the wall.”

“(Rich people) live by the Principle 80/20: 80% of its results come from 20% of their effort, “Sethi wrote. In a commercial environment, this may mean that 80% of profits come from 20% of customers.

But on a personal level, it means that instead of worrying about the questions of $ 3, as if you should buy coffee with milk or make coffee at home, grant in “questions of $ 30,000”, as if you can negotiate an increase or significantly reduce the costs of your home.

“These questions are worth tens of thousands of dollars and, nevertheless, we remain in the weeds and we play small asking the questions of $ 3”, Sethi Previously told CNBC to do it.

Of course, you could save some money always going for the Cheaper option. But saving a few dollars may not use a lower product or experience.

“The rich people who know money with money not only care about costs, but do they care,” Sethi wrote.

He gave the example of choosing a personal coach instead of trying to teach through free resources such as YouTube videos. “By paying someone, I saved an endless frustration, and won something much more precious: time,” he wrote.

Sethi emphasized that this rule should be applied to the things that care the most. Choose investing in some key areas instead of waste in things that are not so important to you.

“The money point is not to accumulate it,” he wrote. “The goal of money is to use it to solve problems and enjoy your life.”

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