Why Start a Blog? Here are 55 Reasons You Should Start a Blog in 2019

The single best business and lifestyle decision I’ve ever made is starting a blog.

I say that with absolutely no hyperbole or exaggeration. Because I started this blog in 2016, I’ve been afforded so many incredible opportunities and experiences.

And with that here are 56 (updated) reasons to start a blog in 2019!



56 Reasons to Start a Blog in 2019


1) Blogging isn’t dead (despite what some people might say)

I know of few better ways to establish your expertise and influence than to publish blog posts on a regular basis.

Is it as easy as it was in 2010? No. But there is still very much a reason why blog posts can lend to great influence online and in business.

Check out: Here Are 13 Things You Should Do Before Launching Your Blog


2) Build a support system that will be there no matter what happens in your life

I’ve had all sorts of difficult decisions I’ve had to make over the years, whether it be to quit my job, move abroad, or get involved in new business ventures. My blog readers became the support system I didn’t necessarily have in real life.

And especially in the early days, that’s more valuable than you’ll ever understand.

Even now, with all of the business decisions I’ve made over the last few months, YOU have helped make it easier. Whether it was support or advice or feedback, this community has turned in to a support system that I never expected to gain.


3) Get 100s or even 1,000s of people to hang on your every word

Ok, maybe not every word.

But as you grow your audience, people begin to actually start caring about what you have to say. In a world where so many of us feel like we don’t have a voice, this is a powerful thing.


4) It gives you a reason to waste time on social media

Let’s face it, you probably spend too much time on social media.

Well, what if you actually had a productive, and profitable reason to be on social media? Whether it be Instagram, Facebook, Twitter, YouTube, or Pinterest, all of these can be assets that will allow you to grow your blog.

So many bloggers have been able to spread their reach from their blog into one major social media channel. Yup, Instagram influencers and YouTubers have massive platforms today.


5) You’ll make friends from all over the world.

I remember on a trip to Dubai in 2011, I sent out an email to a segment of my email list saying I was going to be at Cheap Charlies (may it RIP), at 7 pm if anyone wanted to join.

Cheap Charlies in Bangkok
Cheap Charlies in Bangkok

There were 15 people that showed up! And half of them were paying ProjectAffordAnything members.

At an NYC meetup a few years later, we had over fifty people come. It makes travel so much more fulfilling because in so many cities around the world you have the potential to meet up with someone.

It can be an awesome way to get introduced to a new place and help you not feel lonely on the road (especially for solo travelers).


6) Become a better writer

Writing might be the single most important skill you can learn if you want to be successful with any online lifestyle business. A blog actually gives you a way to practice these skills.

Because I believe this is so important, I’m going to share with you a few other resources for both improving your writing, and starting a writing business (because it’s the easiest lifestyle business to start):



7) Gives you an easy way to add consistency into your life

In a recent video, I said that the single biggest key to success with an online business is consistency. 

Sometimes it can be tough to know what to work on. But when you have a blog, and you set a posting schedule, it provides much needed structure to get things done on a regular basis.

Check out: Should You Start A Blog In 2019?


8) Provides an opportunity to have unbelievable experiences for free

The larger your audience, the more opportunities that will come your way. And if you work hard at it and grow something really special, these chances for free or sponsored experiences will literally be some of the most memorable times of your life.


9) Build web skills

Let’s face it, the internet isn’t going anywhere.

Word and excel won’t cut it in the new era. Starting a blog is a useful and fun way to learn what the hell you are doing on the internet, and provide you with technical skills that will be beneficial regardless of what you’re doing.

Struggling with how to start? Think of it as creating an online asset for yourself:

These web skills can translate into huge opportunities down the road, freelancing gigs, remote work, and even your own full time business.


10) Make some extra cash

Whether you turn it into a full-fledged business or not, it can be a great way to build a nice side income through affiliate marketing.

And that’s just the start, there’s no shortage of ways to monetize a blog. Learn about all of the ways to monetize a blog or start an online business with Alex’s Beginner’s Course.


11) Learn how to edit photos

Let’s face it, we live in an Instagram world these days, and knowing how to make your photos a step above everyone else’s? Well, it can go a long way in terms of gaining followers and adding an element of credibility that many blogs don’t have.


12) Become an Internet Celebrity

Ok, not necessarily in a major way. But the first time someone recognizes you on the street, or you go to a conference with dozens of people clamoring to see you – well? Honestly, that’s a pretty cool feeling.


13) Stop having a boring life

In the wise words of Fitz from Slap Chop: “Stop having a boring tuna, stop having a boring life.”

When you are forced to write on a regular basis, you want to keep it interesting. And a blog can help push you out of your comfort zone and try new things.

I’ve climbed mountains, quit my job and moved to Thailand all because I want to have interesting things to write about!

Ok…maybe that isn’t the whole reason, but it’s an added bonus!


16) Attract job offers

When you start a blog you’re able to prove you’re someone who takes action and has a certain level of expertise.

By starting this blog, People offered me a completely unsolicited job that took me to Thailand and changed my life.

Tons of people who start blogs end up getting offers from clients to write for them (or create videos or infographics, etc.).

Wouldn’t have happened had they not found my blogs.


15) A successful blog is more valuable than any resume will ever be

Period. Enough said.



16) Keep in touch with old friends and family

You know all of those people from your past you don’t really want to talk to anymore? Start a blog and let them follow you there, so you can finally unfriend them on Facebook.

It’s also great for letting friends and family know you’re still alive if you’re not the best at keeping in touch :).


16) Support your friends and family

But for those friends and family you do like, maybe that second cousin of yours is the next Salinger, give them a shot at fame by letting them post on your site, or by promoting your sister’s new business venture.


17) Start living the life you really want

The whole reason I started this site, to begin with, was to hold myself accountable for doing the things I really wanted to do in life. My bucket list was the very first post I ever wrote, and I would never have done many of the dozens of things I’ve checked off, were it not for starting a blog.


18) Become addicted to stat checking

Provide yourself with a hobby that allows you to see exactly how much progress you’ve made over a period of time. Or haven’t made…whoops.

Blogging is about a lot more than writing, dig into tools like Google Analytics and SEMRush there’s all sorts of stuff you can track to see your progress. (And this can help you celebrate some little wins).

Ok, maybe this isn’t a benefit, but it’s certainly a reality.


19) Hold yourself accountable for just about anything

This held me accountable for leaving my job.

It held me accountable for continuing to travel and living an interesting life.

It provided accountability when I wanted to go to the gym everyday.

No matter what hard thing you want to do in life, declaring your intentions publicly is one of the most powerful positive motivators out there.


20) Meet other like-minded individuals

Let’s face it, that girl you sit down next to at the bar probably isn’t going to have the same fascination with that random hobby of yours. So stop searching for likeminded people, and create a magnet for them to be able to find you.

There’s a niche out there for absolutely everything and you can create something that thousands of people would love to talk about.


21) Improve time management

As much as it may not seem like it at times, having a blog and sticking to a schedule, has tremendously improved my time management and allowed me to accomplish much more than if I was just spending my time watching reruns of Friends.


22) Get opinions!

Want to know how that new hat really looks on you? Add a poll to the blog with that ridiculous picture of you in a fedora.

Note: You can’t pull it off, so maybe just skip that and move straight on to a more useful poll.

Don’t worry, there are all sorts of non-fashion related opinions you can get from blogging too. 😉


23) Brag to your friends that you know what a .htaccess file is

If they aren’t impressed…well, they should be!

Oh, and if you don’t know what this is, good news!

WordPress has made it so much easier to start a blog over the years. So no technical knowledge required.


24) Get donations

Chances are if you do this long enough, someone will be thankful for the value you have added to their life. Toss up a donation link and give them a nice sob story about how you’re broke.

You never know what will happen!


25) Have a platform to make money in a more meaningful way

Ok, donations may not be the best way to make money.

But when you have a blog, you now have a platform you can monetize by creating your own products or marketing your services. 


26) (Constructive) Criticism anyone?

Sometimes you need to be taken down a peg or two.

Here’s what you do: Guest post for one of the largest niche blogs on the web, write about something that doesn’t directly relate to the niche, and wait for the comments to roll in.


27) Stress relief

Sure there’s some stress that comes with having a successful blog, but the stress relief of getting all of your thoughts out can be more than worth it.

If you’re one of those people who hasn’t started a blog because “you don’t know what to write about” then just treat it as a personal diary or journal.

You don’t even have to make it public. Just write things down and get them off your chest. Chances are you’re going to go back and read them later and find a few nuggets of wisdom or other good ideas.


28) Free therapy!

This can come in the form of simply getting your thoughts out, or occasionally you’ll get reader emails and comments that are truly insightful and helpful.


29) Create a job

Blogging for a living can be a tough thing to do, but these days? Traditional employment can be tough too.

If you’ve been thinking about a career change or quitting your job, then start a blog first. You never know what kind of platform you might have a year from now.

Blogs allow for the potential to create your own job and even start hiring others to work with you.


30) Become a source of influence

Who knew you could be so powerful?

Yes, you!

Start a blog, and begin influencing others in any way you see fit. You can share your advice, recommend products, promote living a healthier lifestyle, help people build businesses, the sky’s the limit.

Use your new power with caution. Don’t forget what Uncle Ben told Peter Parker…

uncle ben


31) Share your hobbies

Maybe other people haven’t caught on to the wonderment that is stamp collecting. This is your opportunity to show them how cool it really is!

Or even if you don’t make many converts, luckily, no matter what niche you’re in, there will be others who share your passion.


32) Be different!

How many people do you personally know that have a legitimate blog? When I started I could count the number on one hand. Dare to be different and start doing things your own way!


33) Promote your business

Do you already have an existing business? Great, blogging is a great way to grow your influence, build rapport with your customers, and increase search traffic to your site all in one fell swoop.


34) Track change in your own life

ProjectAffordAnything has been an unbelievable way to track the evolution of my own life. From being unhappy in my day job, to quitting, to moving to Thailand, to buying a house, to loving and losing – the list goes on, and it’s all been documented.



35) Beat your kid sister at Words with Friends

With all of the new words, you’ll learn blogging, you will become a Words with Friends or Scrabble master.  Just remember that Jo, Qi, and Za are all words.


36) You’ve got nothing better to do

In a rut and need a new hobby or something to pass the time? Start a blog!


37) Depression sucks

Feeling depressed?  Millions of other people are too. Use the writing as an outlet, and then start getting help from others who have been there. May seem like a long shot, but you’d be surprised at how powerful this can be.


38) Save Money

Everyone talks about how to make money online, but fail to mention how a blog can save you money. Next time you’re bored and want to go drink away your sorrows, go to a movie or buy a new puppy, just go to your blog instead.

There are so many ways to spend your time working on your blog it’s not even funny. You’ll probably learn a thing or two while doing it as well.


39) Give back

Look at where you are today, how much you’ve learned and all the people that have helped you. Starting a blog gives you a forum to share your knowledge and give back to the community that helped you, whatever that community is.

Or if no one helped you, you can at least rub your success in their face.


40) Get on the cutting edge

The more you know about the internet and technology, the better off you’ll be, so better start practicing! Not to mention many blogs and social networks break major news updates before anyone else, so by being in the blogosphere, you’ll always be in the know.


41) Look important on Google!

When was the last time you Googled your name?

Well I guarantee that employers and many other people you meet will be checking up on you. So why not make them think you are some super huge internet celebrity?

If you search for Sean Ogle, every single result on the first page is about me.

42) Attain the power to publicly humiliate

No one will ever mess with you ever again…or at least no one that you have incriminating photos of. And in updating this post 8 years later, it means, this photo of my friend Jacob gets to be resurfaced!


43) Get a book deal

Ever wanted to write a book?  Start a blog.

The best way to get your writing noticed is to put it out there for everyone to read.


44) Gain Google love for your business

With every post you publish, you’re giving users one more avenue with which to find you, and creating one more topic that makes you look like a relative expert.

Who doesn’t love seeing their site pop up to the top of Google?



45) Meet people who are better than you

No, I don’t mean they’re better than you. After all, no one is better than you. But you can meet people who are farther along, have greater expertise, or are simply more well versed in a topic of your choice.

These days social media and blogging has made nearly no one out of reach if you try hard enough.

Check out: 11 Terrible Mistakes I Have Seen Amateur Blogs Make (Real-life Examples Included!)


46) Become an expert yourself

The more time you spend writing about something, the more knowledge you gain.

Thus the more likely you are to be perceived as an expert in your field. And the more likely you get asked to share your expertise in a way that can help you promote your blog. See how it works?

I’ve spent the last 9 years writing about make money online and growing one of my own.

Some might even say I’m an expert at it – never would have happened if I hadn’t of published that first post.


47) Free places to stay

Like to travel? Hate paying for hotel rooms?

Think of a blog as your own personal from of couch surfing. In the early days of this site, I stayed with readers all over the world. While that doesn’t happen as often these days, it led to so many memorable experiences.


48) Make new friends

Let’s take this a step further than just meeting people.

I have dozens of friends now that I can honestly say I would not have were it not for my blog. And we aren’t just talking online friendships either, real honest to goodness friends….that I’ve met in person!

That’s powerful.


49) Do something totally out of the ordinary

Panda reserve in the middle of nowhere in China?

Sleeping in a desert in Jordan?

Blowing up a desk?


50) Create an email list

Regardless of what you’re trying to sell or promote (even if it’s just your ideas), a blog gives you the power to start creating an email list of people interested in what you have to say.

The single most powerful marketing and relationship tool you can have with an online business is your email list.

Don’t have a blog yet, but still want to start growing your list?



51) Share your art

Whether you are a true artist, musician, photographer or have any number of other talents, a blog can be a great outlet to gain exposure with the masses.

Don’t be surprised if one day you find a link on this site to some kind of awful music I’ve created and put out there for your listening pleasure.


52) Generate passive income

Ever heard of affiliate marketing? No?

Well, it’s the easiest way to start making money online.

And the easiest way to get into it? You guessed it, having a blog.


53)  Document your quest

If there’s one thing I’ve learned it’s that having a “quest” of some sort, can be one of the best ways to make your travel more meaningful.


54) Truly work from anywhere

As I work to update this post, I’m currently sitting in the lobby of the Andaz Hotel in Tokyo. I’ll probably finish it back at a coffee shop in Portland.

Tokyo Office:

Andaz Hotel Tokyo

Portland Office:

Barista Coffe in NW Portland, Oregon.

Unlike most traditional forms of work or many hobbies, you can truly do it from anywhere.


55) Makes you take action

The nature of a blog means it needs to be updated and you need to create new posts on a regular basis. So if you’ve struggled actually following through on a project,  a blog is the perfect starting place.

You’ll have something that you have to do every week, so it can help you get focused and actually take action. Get in the habit of taking action and tons of awesome things can happen.



56) Allows you to find your “Thailand

This may sound cheesy, but when I moved to Thailand everything in my life ended up changing for the better. I was able to find happiness, meaning in my work, and it set the stage for the rest of my life.

Starting a blog has the power to help you do the same thing.


A Few More Resources for Starting a Blog:

Have I convinced you that starting a blog is a good idea?

Great, here are a few more resources you should check out:


The Best Resource For Getting Started With a Blog or Lifestyle Business

Have you considered starting a blog or online business, but you feel like “you don’t know, what you don’t know?”

We’ve been there too.

Because of this we create The Complete Beginner’s Guide to a Starting a Lifestyle Business.

It’s specifically designed for people new to the online world, who just want to see what all of their options are.

This course not only covers exactly how to start a blog, but it also walks you through all of the different business models out there, so that you can find the best fit for you, and then take your next steps to get started.

Suheyl Ünüvar
Suheyl Ünüvar

Suheyl is the author of Millionaire Habits. His passion for helping people in all aspects of life flows through expert industry coverage he provides. Suheyl is also one of the youngest entrepreneurs out there. If you want to be financially independent and afford anything you want today, then you should really follow him.

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Top 5 Morning Habits Of Millionaires Everyone Should Adapt

You want to be a millionaire right? Then you need to, first of all, be like one, think like one, and behave like a millionaire. You do that by first of all adapting their habits.

Now let’s take a look at 7-morning habits from millionaires.


1. They wake up early

 

Every successful man or women wakes up early, not only that, waking up early has something magic in it.

For example: take a look at this list, the most successful people sorted by the time they wake up. Read every single one of them, please!(Source: www.huffingtonpost.com)

Looking at Tim Cook we can see he wakes up at 3:45am. Now yes this is indeed very early, but the thing is every successful person needs to sacrifice sleep at one point to focus more on your business. Now waking up early is so good because you have more time to do things you usually wouldn’t have time to do. While other people are still sleeping, you are up and doing productive things. You can do the hardest job of the day in the morning, that’s the best time to do it, your brain is fresh, you don’t have any distractions yet.

The first 3 hours after you wake up are your most productive. But this only counts as long as you don’t speak to anyone.  Yes, this sounds weird but its really true. This means after waking up, you have 3 hours of magic. AND NOW, depending on what time you wake up, you can make the best of these 3 hours. This means waking up early gives you this benefit of getting shit done in a much more focused way. This shows you the power of waking up early, every successful CEO has it, and you should have this habit too.


2. They Workout & Meditate


Former U.S President Barack Obama starts every morning with a workout routine which consists of strength and cardio training. Similarly, Twitter CEO Jack Dorsey’s morning ritual involves a seven-minute workout that he does three times through.

Making exercise a regular part of your a.m. routine is a great way to get energized, improve blood circulation and burn more fat. It also boosts your metabolism and improves your cognitive skills (more effectively than a cuppa joe).

3. They Write


English actress and model Cara Delevingne begins her day by following a Morning Pages routine. Even entrepreneur Tim Ferris swears by this morning ritual. The journaling technique involves filling up at least three pages with stream of consciousness writing, in longhand, as soon as you wake up. It’s an effective way to tame mental clutter, sharpen your focus and unlock creativity.

4. They Motivate themselves


Apple co-founder Steve Jobs had a very simple yet profound morning routine. Every morning he’d look in the mirror and ask himself, “If today were the last day of my life, would I want to do and am I about to do it today?” He explained that if the answer was a ‘no’ for a number of days in a row, it meant that he needed to change something. Likewise, Benjamin Franklin began his mornings by asking himself, “What good shall I do this day?” Cultivating this little habit can help you stay motivated to stick to your goals by setting the stage for a positive and purposeful day.

5. They eat healthy

Oprah Winfrey always concludes her morning ritual by having a nutritious breakfast. “No one would ever mistake me for an expert on engines, but I know one thing: They don’t work without fuel,” says Oprah. “Our bodies are the same way, which is why I’m passionate about breakfast,” adds the Wrinkle in Time star. Her morning meal has a balance of protein, fat and complex carbs.


Conclusion

Successful people wake up early.

They use the extra time to exercise, plan their day and spend some quality time with their family.

The most important thing that we can learn from their morning routines is that they all do what works for them.

They all have different routines.

They all do what makes them the happiest, healthy, and productive.

We need to develop our own routines not copy theirs.

We need to develop morning routines that will help us to be happy, healthy, and successful.


Call To Action

If you want to find the silver lining in your life, become extraordinarily happy and create the life of your dreams, check out my latest book about marketing cheats & hacks.

Click here to take a look at the book now!

Did you know that by adopting the habits of millionaires you can cut out 70 % of the essential work & effort it takes to be one?

No? Even better because I wrote a whole book on it only for you with the purpose of helping become financially independent this year AND have success in all areas of life.

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These Are The KILLER Habits Of Millionaires To Massive Success

Self-made millionaires fall into two categories:

 

  1. Savers
  2. Risk Takers

 

Savers

Self-made millionaire Savers accumulate their wealth by living below their means, saving money and then investing that money prudently. According to my Rich Habits research, this path to multi-millionaire status takes about thirty-two years. Savers typically are risk-averse, employed most of their lives and have a low or moderate standard of living. Self-made millionaire Savers were among the least wealthy in my study, with an average net worth of $3.4 million. Being a Saver is the risk-free way to building wealth. It’s the safe path to wealth accumulation. It requires discipline, diligence and adhering to a low to a modest lifestyle.

 

Risk Takers

 

Self-made millionaire Risk Takers are individuals who take some risk in the pursuit of wealth. They are typically business owners, entrepreneurs, aggressive-savvy investors in stocks or real estate or they create some product or service that is so unique they are able to demand a significant premium in return for the purchase or use of their product or service. Self-made millionaire Risk Takers were among the wealthiest in my study, with an average net worth of $7.4 million. Being a Risk Taker is only for the bold and courageous. It’s the high-risk path to wealth accumulation. It requires courage, persistence, cunning and a hardcore work ethic.

 

In my study, I found that all Savers have a specific money mindset. Below are some of the top money strategies of self-made millionaire Savers:

 

#1 Self-Made Millionaires Establish Savings Goals Early in Their Lives

 

Ninety-four percent of the self-made millionaires, who became rich by saving money, saved 20% or more of their net pay or their net income. They did this early in their work lives, long before they accumulated their millions. With your first paycheck get into the habit of saving something – 10% or 5% or even just 1%. The point is to set some savings goal and stick with it. This creates the savings habit. The ultimate goal, if you want to become a self-made millionaire, is to save 20% or more or your net pay and prudently invest those savings. Through the power of compounding, your savings and investments will grow over time.

 

#2 Self-Made Millionaires Avoid Want Spending

 

According to Census Bureau data, there are approximately 30 million other people who make more than they need but who are, nonetheless, one paycheck away from poverty. These individuals engage in something called Want Spending. Want Spenders to spend more money than they make on their wants.

 

Want Spenders to surrender to instant gratification, eschewing saving to buy things they want now: 60 inch TVs, nice vacations, expensive cars, bigger homes, and jewelry.

Want Spenders routinely gamble away part of their income.

Want Spenders to spend too much money at bars and restaurants.

Want Spenders to incur debt to finance their standard of living.

Want Spenders create their own poverty. They are undisciplined with their money. They have been brainwashed by advertisers and a consumerist society into buying things they do not need.

 

When Want Spenders are no longer able to work due to old age, they live out the remainder of their lives in poverty. They become dependent on family, friends, the government or the charity of others.

 

Want Spenders to rationalize their Want Spending in some ways:

 

I’ll make more money in the future

I’ll get a better paying job

I’ll get a second job

I’ll get a raise

I’ll get a bonus

The economy will improve, and I’ll make more money

I’ll get more clients or customers

My children will take care of me in retirement

I’ll move to Florida, or some inexpensive place, and live off Social Security

 #3 Self-Made Millionaires are Frugal

 

I’ve been studying the daily habits of the rich and poor since 2004. I’ve gathered an enormous amount of data on both groups. Sixty-seven percent of the rich in my study said they were frugal. To them, frugal meant spending their money wisely. It involved buying quality items or services at bargain prices. Most of the wealthy in my study were raised by imperfect parents or middle-class parents who made a point of instilling in them good habits. Being frugal was one of those good habits they learned from their parents and that they took with them into their adult lives. Looking for value and quality makes you frugal.

 

Below is a small sampling from my Rich Habits books of some of the frugal spending habits of the rich:

 

8% shopped at Goodwill stores

37% used coupons

64% said they lived in a modest, middle-class home

28% mowed their own lawn to save money

44% only purchased high-quality used cars. Typically, these were cars coming off two or three year leases. According to Kelly Blue Book, new cars lose as much as 25-30% of their value in the first two years. That’s a big discount for a quality vehicle purchase.

19% managed their investments themselves – they did not use financial advisors in order to save money

41% never spent more than $3,000 on a vacation

16%,chose credit unions over traditional banks. Why? They were frugal and credit unions, to them, offered superior personalized service at a bargain price. They liked the fact that the banking personnel seemed more committed to helping them with their banking needs, that there was little turnover and this meant they were able to develop long-term relationships with the tellers and bankers. Seeing the same faces, year after year, was comforting. Relationships, after all, are the currency of the wealthy.

Be Frugal, not cheap – 66% of the poor in my study admitted to being competitive. Reasonable to them meant spending their money on the most inexpensive product or service available. Being cheap is a Poor Habit because quality is very rarely given any consideration at all. They need X, so they look for the cheapest X they can find. Being cheap is one of those taxes the poor pay that the rich don’t. Cheap products break or deteriorate at a much quicker rate than quality products. Quality products can last for a lifetime. Those offering cheap services are often inexperienced or not very good at what they do. If they were good, they would be able to command higher prices. Cheap service providers can get you in a lot of trouble, especially when it comes to taxes, legal representation or even just getting your car fixed. Cheap service providers are able to keep their fees down by paying their staff lower wages. This means they are not getting the best staff or are settling for inexperienced staff. Being frugal will not make you rich, but it does mean you will keep more of your money as your purchases are driven by quality and price. Being cheap will not make your poor, but it does mean you will keep less of your money due to the low quality you receive in exchange for your money.

#4 Self-Made Millionaires Avoid Lifestyle Creep

 

Definition of Lifestyle Creep – Increasing your standard of living to match your increased income. It’s a common Poor Habit among many who suddenly find themselves making more money. The Rich Habit is to forgo the desire to spend your money today and, instead, sock it away into savings and investments that grow in value and provide financial resources that can be used in the future to maintain your standard of living.

 

Once you spend your money, it’s gone. When you hit a bump in the road, such as a job loss, you are then forced to sell your stuff. If the things you purchased depreciated in value, you get pennies on the dollar.

 

One of my older and wealthier friends explained to me his rule for financial success:

 

“Same house, same spouse, same car.”

 

There’s a lot of wisdom in these words. What they really mean is that no matter what good fortune visits you in life, do not change your standard of living. Don’t supersize your life by buying things you really do not need. Live a modest life and forge the Rich Habit of Delayed Gratification – putting off what you want today so that you can have something to fall back on in the future.

 

#5 Self-Made Millionaires Make Their Money Invisible

 

Open up a savings account. Every time you get paid, immediately move a specific amount of your net pay into the savings account. This will force you to spend only what you have in your primary checking account. This has three psychological effects.

 

The first is that the simple act of moving money into a savings account makes you feel good about yourself. Feeling good about yourself makes you happy.

The second effect is that you will be forced to limit your spending to what is available in your primary checking account. This forces discipline, which also makes you feel good about yourself.

The third effect is the psychological impact of caving into your wants. Every time you move money from your savings account back to your primary checking account, to spend money on something you want, you will feel like you are cheating. This makes you feel bad about yourself, which leads to unhappiness.

People naturally gravitate to things that make them feel happy and avoid things that make them feel unhappy. The Invisible Money Strategy plays into that natural human tendency. Over time you will develop the habit of spending money only on your needs to prevent the unhappiness that results when you give in to your wants.

 

Give it a try for at least four months. It takes about four months to forge good money habits.

 

#6 Self-Made Millionaires are Smart Spenders

 

The self-made millionaires in my Rich Habits Study were smart in spending their money. Here are some of the creative spending strategies I discovered in my research:

 

Buy in Bulk – If done correctly, and with the right items, buying in bulk can save your household money and reduce waste. Nonperishables, such as toilet paper, soap, laundry detergent, paper towel, and shampoo, can be enormously cheaper if you buy them in bulk. Even some food items purchased in bulk, such as applesauce, canned goods, or yogurt, can be portioned into glass jars and/or saved for future use.

Plan Your Meals in Advance – Food is one of the most significant expenses in a household, after housing, transportation, and personal insurance, according to data from the Bureau of Labor Statistics. The easiest way to fastidiously enforce your food budget is to plan your meals in advance. If you can sketch out a menu for the week that utilizes similar ingredients, you’ll have a more focused trip to the grocery store, and you’ll end up throwing less away weeks after it’s been shoved to the back recesses of the refrigerator. Instead of running to the store and perusing potential ingredients, look in your fridge first and use that information to decide your next meal. Making a conscious effort here saves you money, and it keeps food waste out of landfills.

Reduce Energy Costs – Lowering your energy consumption is low-hanging fruit when it comes to cutting monthly expenses. The small changes of swapping incandescent bulbs for CFLs or LEDs can save you money on your utility bill, plus LEDs last roughly 25 times longer than traditional bulbs, dramatically cutting replacement costs. Even while they’re turned off, plugged in electronics continue to pull energy. To stop the drain, connect your TVs, computers, and other devices into power strips that can be easily unplugged when not in use. Cut back on water usage by taking shorter showers, washing only full loads of laundry, and using your dishwasher if you have one — doing dishes the old-fashioned way can use 6 to 12 gallons more.

#7 Self-Made Millionaires Keep Their Expenses Low

 

Self-made millionaires who made their millions by saving money, were fanatics when it came to keeping their expenses as low as possible. Here are some of the strategies to follow:

 

Don’t spend more than 25% of your monthly net pay on housing. It doesn’t matter if you own or rent. Stick to this 25% rule.

Don’t spend more than 15% of your net monthly pay on food.

Don’t spend more than 10% of your monthly net pay on entertainment. This includes bars, movies, restaurants, etc.

Don’t spend more than 5% of your monthly net pay on auto loans and never lease. Leasing is something I call a Poverty Habit. Buy your cars and take good care of them.

Don’t spend more than 5% of your net annual pay on vacations.

Never gamble. If you’re going to bet on the lottery, it comes out of your entertainment budget.

Stay away from accumulating credit card debt. If you are doing this, it means you are living beyond your means, and you need to cut back on something.

Always invest your savings prudently. Never gamble your savings on getting rich quick schemes. There’s no such thing. The power of compounding can grow your savings and make you wealthy. Saving just $250 a month over 40 years will produce $500,362 at a 5% return. Savings and investment are two completely different things. You should never lose money on your savings. Investments represent a portion of your savings you are putting at risk. When you invest, you accept the chance that you could lose some or all of that investment.

Max out your contributions to the company retirement plan. If the company matches your contributions, great. That’s free money. Always take free money when you can get it.

Know what you spend every month. Create a monthly budget and track what you pay.

#8 Self-Made Millionaires Avoid Spendthrift Friends

 

One of the hallmarks of the self-made millionaires is the conscious effort they make to associate with like-minded individuals. If a close relationship is a spendthrift, they avoid them like the plague. If an intimate relationship is conscientious with their money, they increase the amount of time they spend with them.

 

If you want to adopt good money habits, you need to associate with individuals who possess those habits, and you need to disassociate yourself from those who do not. If all of the close associations you make in life share your desire to live below your means, it is highly probable their good money habits will become your good money habits.

 

#9 Self-Made Millionaires Marry Well

 

One of the reasons self-made millionaires are millionaires is they marry well. They find a spouse who shares their money values and money habits. Because they are on the same page when it comes to money, they function as a very efficient team when it comes to saving money, spending money and investing their money.


Thank you for reading this article. I hope I could help you with this formula. It is one of the few that actually work.

Like really, in this formula is everything you need to succeed in this life.

Finally if you want to be a millionaire then you need to adapt their strategys, their rules, their habits.

I wrote a book with the purpose helping YOU reach the millionaire status.

Buy it from AMAZON NOW: https://www.amazon.com/dp/B07GY4N5TH

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