38 Self-Made Millionaire Success Habits For Anyone Who Wants To Be A Millionaire

 Written by Joseph Nyamache

| Updated on April 12, 2020

Want to learn how to become a millionaire in ten years?

​Since the invention of money, financial advisors have published books that teach you “how to become a millionaire” such as the millionaire next door. This post shed light on the top 38 daily habits of self-made millionaires and how to think and grow rich.

Any person, from anywhere around the world can become a millionaire.

Hundreds and thousands of people want to be millionaires. As much as everyone wants to achieve the millionaire status; unfortunately, not every person on planet earth is going to become a millionaire. That is to say, at least, during our lifetime!

So what sets apart a millionaire from the rest of the world population?

The answer is simple.

It is because most self-made millionaires learn, practice, and form good financial habits that make them different from everyone else who’s not yet a millionaire.

They are self-disciplined.

Most millionaires are consistent in taking small steps.
They are resilient and they persist. Eventually, over time, they accomplish big steps in the right way. Therefore, they achieve their personal and business goals.

Over time, the little steps grow into becoming good financial habits.

So, if I may ask you;

Do you want to build wealth and reach your long-term financial goals?

Most financial advisors will tell you to follow the right set of business and financial plans and habits that are right for you.

We’re going to look at the top 38 Self-made millionaires success habits that you can emulate to improve your earning potential and become financially free.


Self-Made Millionaire Success Habits And Common Character Traits

  1. They don’t act rich
  2. They think big
  3. They pinch pennies
  4. They help themselves first
  5. They are positive people
  6. They are voracious readers
  7. They follow a monthly written budget
  8. They prioritize value over price
  9. They help others to succeed
  10. They avoid debt at all costs
  1. They invest their earning
  2. They take calculated risks
  3. They cultivate multiple streams of income
  4. They “close the loop”
  5. They’re not afraid of criticism
  6. They have successful mentors
  7. They employ tax-avoidance strategies
  8. They’re early risers
  9. They earn interest—not pay it
  10. They are life-long learners
  11. They keep their promises
  12. They understand “opportunity cost”
  13. They are networkers
  14. They are generous
  15. They don’t let fear hold them back
  16. They set aside time to think every day
  17. They exercise daily
  18. They automate their finances
  19. They know how to tolerate discomfort
  20. They do what it takes
  21. They are natural leaders
  22. They set daily goals
  23. They are entrepreneurs
  24. They surround themselves with high achievers
  25. They have excellent manners
  26. They are focused
  27. They are patient
  28. They don’t rely on luck

Who wants to be a millionaire before the retire? Well, dere are the 38 self-made millionaires character traits and habits that will help you succeed.

How to become a millionaire by the year 2030

For some, the year 2030 seems far fetched. In the short time that I’ve walked this planet earth, one thing I know for sure is that time goes by fast. Like, really fast!

The year 2030, is around the corner.

The thought of becoming a millionaire can seem like an overwhelming task.

But, did you know that at some point, most self-made millionaires had little or nothing to start their journey to financial freedom and wealth creation?

They began with a simple step-by-step vision and build momentum.

And because most millionaires did not inherit a fortune,

Take heart and be courageous. If they can do it, you too can do it.

Self-made millionaires struggled much in life.
In other words, they struggled through poverty until they made their first million.

Experiences from their past life propelled them to work extra hard and overcome all obstacles. Possibly, some unique character traits and actions made them succeed in achieving their dreams. It has nothing to do with luck.

Do you think you have what it takes to earn millions by 2030?

Eventually, through perseverance and persistent, anyone can reach the ultimate goal of earning a self-made millionaire status.

Their daily practices largely dictate the direction they lead in life. Habits can determine whether one will become successful in life or be a failure in life.

Successful people and self-made millionaires share common habits.
Habits are not innate; instead, any habit can be learned over a given time-frame. That means that any habit can be changed from bad into good and vise Versa.

The habits we learn over time are the reasons behind relationships, anger, stress, anxiety, wealthy, health, poverty, and more.

The most predictable and distinct traits include, but not limited to, their ability to build relationships, take calculated risks, set smart goals, acquire education, and knowledge, and much more.

How many millionaires are in the U.S.?

According to the Credit Suisse Global Wealth Report, more than 7% of U.S. adults qualify to be counted as millionaires. That roughly translated into about 7.2 million households. More than 42.2 people are millionaires worldwide.

That is an increase of 2.3 million over the last year. Members of this club are in the top 0.6 percent of wealthy households of the world’s population.

There’s no telling precisely how many of these folks are self-made millionaires, but the majority of them likely are.

If those many people have managed to pull themselves up by their bootstraps, as the saying goes, and made it to the millionaire status, why not you?

Are you ready to join the millions of self-made millionaires around the world?

Emulating them is one of the best ways to go.

With that in mind, below are 38 tips on how to become a millionaire.

Table Of Content – 38 Millionaire Success Habits


They Don’t Act Rich

Contrary to popular belief, Did you know that self-made millionaire aren’t the types to flaunt their wealth?

Ultimately, as millionaires amass their fortunes, they have learned the value of a dollar. Consequently, they have adopted many habits of successful people that make them appear to be less fortunate than they are.

Studies have shown that 61 percent of people who earn $250,000 or more per year tend to steer clear of luxury brands.

In general, most self-made millionaires Know that a new BMW or Mercedes will lose 70 percent of its value within four years. For this reason, they more typically own and drive budget cars from Hondas, Fords, and Toyotas, just to name a few.


They Think Big

Wanting more is one thing; shooting for it is another.

Unlike everyday people, who wait anxiously for years for that big raise or other windfall, millionaires decide what they want and go after it.

Instead of silently pining for that raise or bonus, then, they instead become bosses and let others help to make money for them. These folks don’t talk themselves down from pursuing big ideas—they put them into action.


They Pinch Pennies

Millionaires don’t get rich by spending money with abandon.

Sure, we’re all familiar with the stereotype of the grandiose rich person who splashes cash everywhere. Because self-made millionaires have earned their positions by themselves, they know that a penny saved is a penny earned.

People with a net worth of $1 million or more tend to opt for used cars versus new ones. In the way, instead of going out for long fancy lunches, they pack their own food and snacks.

They find the best deals for everything that they need and refuse to pay a penny more, and that’s how their bank accounts slowly but surely start to swell.


They Help Themselves First

As people start enjoying more success and earning and saving more money, they’re often tempted to help out as many people as they can.

Kind though it may be to have this compulsion, it serves you no good if you’re always giving your money away.

Savvy millionaires understand that before they can make a real difference for others, they need to attain a comfortable position of wealth.

In the meantime, they find ways to help others that don’t involve lavishing them with money—and they focus on their goals.


They Are Positive People

Most people’s thoughts tend to be overwhelmingly negative, but they often fail to realize it. The truth is that negativity is the path of least resistance;

Staying positive takes more energy, but it produces many great rewards.

Millionaires know this, and they learn to train themselves not to take negative thoughts seriously. They push those thoughts away and switch to positive ones as often as possible.

Many turn to practices like meditation to hone these skills. In doing so, they learn that they are not their thoughts and that negativity gets people nowhere.


They Are Voracious Readers

A common character trait that’s is widespread among self-made millionaires is reading and consuming information regularly.

Rather than consume trashy novels that merely occupy their minds, however, they typically turn more toward self-help books, biographies, how-to articles, and books about leadership and entrepreneurialism.

A survey revealed that 85 percent of these folks read an average of two books per month, far more than most less endowed people.

You may not think that you’re much of a reader, but it’s a habit that you can cultivate. Set aside 30 minutes per day to read a helpful book, and you’ll be on your way.


They Follow A Monthly Written Budget

Discipline is another self-made millionaire success habits. People don’t amass a million dollars or more by spending and earning money in a willy-nilly fashion.

Discipline is a crucial part of achieving a goal like this, so millionaires know the importance of tracking money in and cash out.

Early on, these folks establish strict monthly budgets.

Money discipline not only helps them to avoid frivolous spending, but it helps them to ensure their financial future. Most people don’t follow a budget, so you’ll be far ahead of the game if you start.


They Prioritize Value Over Price

Like most everyday people, you probably seek out “good deals” by looking for the most affordable option. This may seem like a logical thing to do, but it’s another thing that can keep you stuck in a rut.

When you buy a quality pair of shoes, obviously, you might spend a small fortune. On the other hand, those shoes are sure to last for years. Self-made millionaires understand the importance of value over price, and they buy things accordingly.


They Help Others To Succeed

Most self-made millionaires didn’t gain their money status completely alone.

Along the way, they pick up mentors and others who helped to cheer them along.

Therefore, they know the importance of having that kind of support from like-minded people, and they enthusiastically offer it to others too.

With a positive approach and a willingness to help, they help others in their lives to start working toward becoming financially free themselves.

The idea of the stingy rich guy who blocks others out of his life doesn’t ring true when it comes to millionaires who’ve done it themselves.


They Avoid Debt At All Costs

When you owe money, it takes a cut out of your net worth.

Debt can be useful if you are using it wisely to amass more fortunes that you could have otherwise lost the opportunity.

Furthermore, many debts come with interest charges that snowball quickly. With this in mind, self-made millionaires strive to avoid personal liability at all costs.

Even for expensive things like vacations, they pay cash whenever they can.

When they do use credit, they pay off the balance before accruing any interest charges. Therefore, it is far better to be patient and save up for something than to go into debt for it.


They Invest Their Earning

Millions and millions of Americans live paycheck to paycheck. According to CNBC, 20 percent of Americans do not save any of their yearly income at all.

The few Americans that manage to save their income tend to save very little.

A millionaire, on the other hand, knows that investing money is one of the best ways to earn a passive income and to grow their wealth.

Most people who have pocketed $1 million or more have gotten into the habit of investing 20 percent of their annual income, so let that be a worthwhile goal for you to strive for this year.


They Take Calculated Risks

It may sound like self-made millionaires are overwhelmingly cautious, and that is true regarding many aspects of their lives.

Millionaires know the value and importance of taking calculated risks to grow their wealth. The way that they see it is that the rewards of success far outweigh the costs of potential failure.

They are willing to cash out a retirement account to, say, start a new business.

They invest in the stock market and make bold moves that pay off.

Even when those moves backfire, millionaires don’t lose heart; they learn from their mistakes and plunge full-steam ahead.


They Cultivate Multiple Streams Of Income

Relying on a single source of income is one of the best ways to ensure that you never realize your dream of becoming a millionaire.

When the economy tanks, as it is wont to do, it’s all too easy to lose your sole source of income. When income dries up, savings start to dwindle.

This is commonly accomplished through things like earning dividends from investments, interest earned from loans, royalties, rental income, capital gains, and even from side businesses that require little upkeep like e-commerce sites.


They “Close The Loop”

Someone who has earned themselves $1 million or more knows the importance of “closing the loop,” or in repaying favors.

They know that the loop might remain open for some time after being the beneficiary of a favor, but they always remember to come back around and close it because they don’t like feeling like they owe people anything.

Unlike the more impoverished people, who often ask and expect a lot from others without any plan or ability to return the favor.


They’re Not Afraid Of Criticism

Nobody enjoys being told that they’re doing something wrong or that their actions have room for improvement. Millionaires who earn their fortunes, however, actively seek out and welcome constructive criticism from others.

They have learned that one of the best ways to learn is by making mistakes and being open to criticism. 

That’s not to say that you shouldn’t care when people criticize you; instead, you should take what they tell you to heart and try not to take it personally.


They Have Successful Mentors

People who break the threshold of earning $1 million or more in their lifetimes overwhelmingly have mentors who have shown them the way through the years.

These mentors are very successful people who have learned how to amass a fortune through hard work and perseverance. 

You have to put in the work to start your journey and show that you are serious before a genuinely successful person takes you under their wing.


They Employ Tax-Avoidance Strategies

The U.S. tax code is extremely complex.

Especially for those who earn $250,000 or more per year, there are lots of loopholes and ways to cut back on the taxes that are owed. This allows the wealthy to get more bang for their buck, so to speak.

A great example can be found in employer-matched contributions to 401(k) and other tax-deferred retirement plans. In these scenarios, employers match employee contributions to such plans up to 5 percent.

If you contribute the maximum allowed pre-tax, which is typically 5 percent, you enjoy a 100-percent gain in the first year. That’s equivalent to one-tenth of your annual salary, which is excellent.


They’re Early Risers

A five-year study of 177 self-made millionaires revealed that more than half of them wake up at least three hours before their workday begins.

During this quiet time, they take care of business that might otherwise be interrupted during the day.

By getting a head start on the day, self-made millionaires are ahead of the game from the moment that they jump out of bed.

If you tend to sleep in as late as you can, it’s time to reconsider.


They Earn Interest—Not Pay It

Most Americans are used to having to deal with interest charges to get by in life. They tend to view these charges as a necessary evil.

Millionaires think differently.

They know that paying interest decreases the value of their earnings, so they do anything that they can to stay out of debt of any kind.

As their bank accounts grow, they often begin lending money to others, which allows them to earn interest—and income—rather than to pay it.


They Are Life-Long Learners

Many people consider their studying days are over after they graduate from school. Those who manage to earn millions on their own, however, know the value of continuing education.

That doesn’t necessarily mean that they go back to school.

Their desire to learn draws them to seek out mentors who can educate them about various strategies. They turn to books, the internet, and other sources to gain as much new knowledge as they can on an ongoing basis.


They Keep Their Promises

Someone who sets out to become very rich on their own learns the value of sticking to their word. Self-made millionaires respect themselves and take themselves seriously. If they make a promise to someone, they keep it.

Going back on your word or failing to do something as promised will slowly but surely ruin your self-confidence and ability to get where you need to be.

Other people will learn that you aren’t dependable. Consequently, they won’t be eager to help you when you need their help.

Going it completely alone is a losing battle.

Make sure not to make promises that you can’t keep.


They Understand “Opportunity Cost”

Like most successful people, self-made millionaires know that time is money.

As they amass their millions, they learn that they need to strike a balance between optimizing their time and just being lazy. For instance, an entrepreneur might tackle their accounting early on in their endeavors.

When finances become more complicated, it becomes more worth it to pay a professional to do the work instead. That way, they are freed up to keep making more money.

Whenever you pay for a service, ask yourself if it’s indispensable or if it would make more sense for you to do it yourself.


They Are Networkers

Real self-made millionaires know that it “takes a village” to make a fortune.

Expecting to be able to wow everyone and to have money pouring in based on your merits alone isn’t realistic. Instead, you should strive to network with like-minded people whenever you can.

This shouldn’t just apply to earn money; by using it in all areas of your life, you will eventually always have a great person to turn to in various situations and you will be someone who others turn to as well.


They Are Generous

While millionaires know better than to take care of others before themselves, as noted previously, they are also very generous.

They have learned the value of the money that they have earned, and they understand that not everyone has the ability to pursue similar dreams.

As much as is reasonable, then they regularly donate to charities and causes that matter to them personally.

Their motives aren’t always wholly altruistic, of course, they often enjoy tax benefits but following their lead as soon as you can is a great way to cultivate the right attitude for accumulating $1 million or more yourself.


They Don’t Let Fear Hold Them Back

Fear is a natural and essential emotion in many situations. However, it just as often serves no real purpose and can hold you back from realizing your full potential.

Although, self-made millionaires understand that fears never completely go away; they keep learning, moving and facing those fears head-on.

They learn to look at fear in a new light and can use it to their advantage.

When you feel fearful about something that could eventually be great, it’s wise to recognize that the fear isn’t “real” and pursue your dreams anyway.


They Set Aside Time To Think Every Day

While it’s true that you are technically thinking all of the time, conscious, effortful thinking is a whole different beast.

Trying to come up with new ideas or to overcome problems during a hectic day is a recipe for failure.

Millionaires who have earned their money tend to be the types who purposefully sit down to ponder important matters every day. 

Consider setting aside a window of 15 to 30 minutes each day strictly for sitting and thinking. You will be amazed by what you come up with that will improve your day.


They Exercise Daily

Since they are so busy trying to make that next million, it is easy to assume that self-made wealthy people don’t have time for working out.

Nothing could be further from the truth, however. In reality, 76 percent of people who are millionaires get in at least 30 minutes of exercise per day.

Many keep themselves motivated by participating in marathons and racing events. If you don’t already have a daily exercise habit, get one going.


They Automate Their Finances

Even highly motivated, entrepreneurial people who want to make millions struggle to stay on top of their financial situations.

Those who achieve their long-term financial goals learn to automate as many of the processes as possible.

For example, they may have a percentage of their paycheck automatically sent to a savings account each pay period, or they might have all of their bills paid automatically on their due dates to ensure that nothing slips through the cracks.


They Know How To Tolerate Discomfort

One of the top traits of any successful person, whether they’ve earned a million bucks in their life or not, is the ability to tolerate discomfort.

A great example can be how most people approach salary negotiations.

The fact is that most people are too uncomfortable to bring up the possibility of a raise with their bosses themselves.

Those who are “brash” enough to do so, however, tend to enjoy excellent results. Teach yourself to be okay with feeling uncomfortable or awkward.

You will find that you achieve your goals that much faster.


They Do What It Takes

Our culture mostly revolves around instant gratification. That’s why there are always so many get-rich-quick schemes out there.

Someone serious about earning millions on their own, however, understands that doing so takes hard work and sacrifice.

These folks will do whatever it takes to keep moving forward, even if it means putting themselves in less-than-optimal positions.

For example, many people who now own bank accounts that are worth $1 million and up once worked two or three jobs while living in tiny studio apartments or even rented rooms.

By cultivating this mindset and being willing to do what it takes, you’re much likelier to get there sooner than you care to know.


They Are Natural Leaders

On their journey to become independently wealthy, self-made millionaires typically forge their paths. They think outside of the box, so to speak, and are happy to blaze new trails to get where they need to be.

If you tend to be more of a follower than a leader, then it’s time to reassess the situation. Don’t be afraid to strike out on your own or to do things differently.

Those traits will garner you many admirers, and you will find yourself guiding them to success as well.


They Set Daily Goals

Someone capable of earning millions via their efforts never rests on their laurels. If you want to make your millions, you have to stay on track as much as possible. Self-made millionaires typically do this by setting daily goals.

For example, they might work on financial projections or make lists of important tasks to complete. More than anything, they know how to prioritize those goals.

If you want to be rich, learn always to tackle the most important thing first and to stick with working toward your goals.


They Are Entrepreneurs

If you want to make millions, striking out on your own is the way to go.

Indeed, 20 percent of wealthy households fall under those headed by retirees, but self-employed business owners head two-thirds of the other 80 percent.

Additionally, you are four times more likely to earn millions if you own your own business rather than work for others. Therefore, continually seeking a magical job that will make you rich isn’t realistic.

If you want to become a millionaire, yes, it’s possible, but you have to take the initiative and start a business. It will be a much safer bet!


They Surround Themselves With High Achievers

Studies have shown that a person’s overall net worth tends to coincide with that of their closest friends. Spending a lot of time with folks who are okay with living paycheck to paycheck, for example, may not be a good idea.

Ideally, you should surround yourself with people who are more successful than you and who are “go-getters” in the most real sense of the word.

The more time that you spend with self-made millionaires, or people who are on their way there, the likelier you are to join the club yourself someday.


They Have Excellent Manners

People who manage to earn themselves millions of dollars aren’t the ruthless tycoons that many envision.

Instead, because millionaires had to work hard for what they have, most millionaires have learned that good etiquette goes far in this world.

If you’d like to emulate millionaires, then make a point of practicing proper etiquette. Show up and support friends and associates at their events.

Dress appropriately for different occasions. Use good manners wherever you go and with whomever you meet.


They Are Focused

If you’d like to earn millions of dollars through your efforts, you need to keep your eye on the prize. Self-made millionaires go after what they want at all costs.

They understand the difference between being a dreamer and a performer.

It’s easy to think big. What is much harder to do is to put ideas into action. It is also easier to become complacent or to lose sight of what you are doing.

Therefore, consider keeping notes around the house to remind you of your goals. Learn to hone your ideas with lots of rational and critical thinking.

It will serve you well as you work your way toward earning your first million.


They Are Patient

In line with the above tip, it’s essential to be patient with yourself if you want to make millions. Self-made millionaires don’t get rich quick.

Other than those who win the lottery, they work hard over many years to get where they are. Often, they spend years barely getting by, making sacrifice after sacrifice to achieve their dream.

As excited as you may be to get there yourself, give yourself time. Remember that the very best things in life don’t happen overnight, but they are so worth it.


They Don’t Rely On Luck

If you want to join the ranks of the millions of self-made millionaires, it will be wise for you not to seek success based on the assumption of being lucky.

People who achieve this kind of success, do so by making stuff happen.

Successful people know that without being proactive and purposeful, the odds of getting where they want to be are slim. Therefore, they quickly adopt these habits of successful people.

You should also emulate this line of thinking.

Don’t wait around for good fortune to strike.

Actively strive to earn an actual fortune instead. At times, it will feel like it will never happen, but your perseverance is sure to pay off in the long run.

38 Self-Made Millionaire Habits And Tips Of How To Become A Millionaire From Nothing
38 Self-Made Millionaire Success Habits, Mindset, And Traits Image After

Becoming a millionaire is hardly a pipe dream; it’s within your grasp.

As you have seen from the dozens of tips above, the primary themes of achieving this are motivation, dedication, perseverance, and discipline.

Staying on the positive side whenever possible will also serve you well.

If you want to be successful and wealthy, practice the above-mentioned self-made millionaire habits from today and always set realistic goals that you can achieve.

You never know, you may end up turning to be that self-made millionaire that you have always dreamed of being sooner than expected.

Even if you do not become a self-made millionaire, adopting the habits of the rich and wealthy people is a sure path to attaining most of the other goals, you are looking forward to fulfilling.

They say, in life, you choose who you want to be.

Choose to be a self-made millionaire today, belief in yourself, work harder every day towards achieving your goals, and you’ll surely get yourself there.

When you have achieved your dream someday,

You’ll look back at these millionaire success habits and common character traits and see precisely how they worked for you join the millionaire club.

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