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Here’s a little known secret about rich people: Not all of them are extravagant. In fact, many are pretty frugal.

If you’re scratching your head in confusion, listen up. Outside of people who inherit incredible wealth, most rich people get that way because of their habits. That means being very intentional with their money.

The truth is, people who don’t know where their money is going never get rich. People who spend everything they earn never accumulate wealth.

Obviously, income is a factor. But being rich is more about everyday behaviors than it is about income.

These are the 7 habits of the super rich. The good news? You can adopt any or all of these habits any time you choose. 

1. They Budget

You’re rolling your eyes, but I’m telling you, rich people budget. Because what is a budget, but a plan for your money?

Remember, the super rich are intentional with their money, and that starts with a budget. They have a plan for how much they will spend (and save!) each month. They even project how much they’ll spend in different expense categories. And get this: they track their spending relative to that plan.

“Help me stop being poor!”

Here are the facts. The *only* way to save money is to spend less than you earn. There’s no way around it.

So what does this mean for you? It means you need to either decrease your expenses or increase your income.

We want to help you do both. Join our 6-day Savings-Account Accelerator Workshop. We’ll send you expense-lowering tools and techniques (and even a few tips on how to boost your income). These frugal-living hacks will help you accomplish the cardinal rule of personal finance: keep your income over your expenses.

When you can spend less than you earn, your money will grow. You will build your savings, pay down debt, and save for retirement.

Join our free 6-day Savings-Account Accelerator Workshop, and start growing your wealth today.

2. They Make Money by Following the Path of Least Resistance

Rich people know there are tons of easy, low-effort ways to make money. And you better believe they take advantage of them.

Sure, that might mean income-generating investments and residual income streams. But it also includes simple hacks to ramp up your income that are accessible to anyone right now. 

Leverage These Tools for Easy Money:

3. They Pay for What They Want and Nothing More

Don’t get it twisted, rich people aren’t cheap. They’re happy to spend money on high-quality things or experiences that enrich their lives or meet a need. But unlike more complacent people, they steadfastly refuse to pay for things that don’t serve them. 

Stop Paying for Things You Don’t Want

It sounds ridiculous, but the average person is probably paying more than they need to for household services, like cable TV, internet and phone. They may also have unwanted subscriptions they don’t even realize they’re paying for. 

Think about it: When was the last time you analyzed your bills for savings opportunities? When did you last scrutinize your bank and credit card statements for unwanted subscription charges? 

I get it: You don’t have time for those tedious tasks. Well, guess what? Rich people don’t, either. But they leverage tools that can do it for them. 

Trim is a cloud-based service that scans your transactions for savings opportunities. When you connect your accounts, Trim finds subscription charges and cancels the ones you don’t want. And get this: Trim will even negotiate a lower price on your monthly bills. Talk about saving time and money!

Sign up for Trim (it’s free) and stop paying for stuff you don’t want. 

4. They Invest

Rich people know that the best way to stay rich is to grow their money. That means investing money that isn’t needed for short-term goals or expenses. 

Less financially savvy folks sometimes avoid investing because they aren’t 100% comfortable. Either they don’t understand how it works, they’re nervous about risk, or they haven’t mastered a regular investing habit. 

Rich people aren’t necessarily investing gurus. You don’t need to be an expert to invest effectively, and you don’t need to buy and sell stocks on your own. All you really need is a simple, consistent approach and a tool or platform to make it happen. 

Grow Your Money

Acorns is a user-friendly app that rounds up your purchases and invests your spare change in a diversified investment portfolio that suits your risk tolerance. Super charge your investment account by “finding” money when you shop at more than 350 partner retailers. 

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5. They Earn Interest on Their Savings

It might not be appropriate to invest money earmarked for short-term goals and expenses, but rich people never leave interest on the table. 

That $3,000 you’ve got on ice for your property tax bill due in three months? It should be in a high-yield savings account until you need it. For that matter, why not earn interest on your day-to-day funds with an interest-bearing checking account

6. They Read Anything and Everything

Nobody knows everything, but rich people are usually dedicated to learning and self-improvement — especially when it comes to their finances. 

If you ask the most successful people you know what they do in their free time, I bet you’ll find they do a lot of reading because the wealthy read about one book a week. Whether it’s books, audiobooks, or blogs, rich people are always growing their knowledge (and indirectly, their money!).

Get Your Read On

The internet is a beautiful thing. It’s a basically unlimited source of content and resources, most of it available for free. 

If you prefer a physical book in your hand, why not check out your local library? It’s free, too!

I know what some of you are thinking. You’d love to read more, but you just don’t have time. Sure, you read your favorite blogs when you have a few minutes, but you don’t have hours to curl up with Rich Dad, Poor Dad (a great read!). I have one word that is going to change your life: Audiobooks. 

Audiobooks are brilliant because they allow you to optimize your time. You can listen to audiobooks while driving, walking, cleaning, or working out. That means learning all the same information you would from a physical book without having to carve out hours of dedicated time. 

Audible is king of audiobook subscriptions. It’s more convenient than the library because it’s accessible on your phone. It has the widest selection of any platform and is integrated with Amazon for a seamless experience. Ready to start reading on the go? Try Audible for free.

7. They Solve Problems

Rich people are action-takers and problem-solvers. They regularly take stock of their life and identify things that are no longer serving them. They are self-aware enough to recognize a problem and confident enough to do something about it. 

It isn’t just about mindset, it’s about practice. Problem-solving is a skill you can develop. The more often you identify and solve problems, the better you get at it. New skills boost your confidence, produce tangible results, and help you grow as a person. 

Struggling with Money? Do Something About it. 

If money is your problem, it’s time to tackle it head on. If you:

  • Need a budget
  • Want to identify savings opportunities
  • Dream of building a consistent savings habit
  • Want to earn interest wherever you can

…Then you need to stop procrastinating and learn to budget.

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