You don’t have to win the lottery to get wealthier. Anyone, on virtually any income, can simply adopt these habits:
1. Save a little from each paycheck. Tucking away a percentage of your income and putting 50% of all raises towards savings will build up your savings substantially over time. Automate those saving by scheduling an electronic transfer to your savings account at the beginning of each month.
2. Avoid credit card debt. Interest rates on those are famously high and can cost you a lot of money each year. Charge only what you can afford and don't miss any credit card payments.
3. Feast at home, not at restaurants. It’s fun to go out to a nice restaurant occasionally. Just don’t make it an expensive habit. There is tons of quick, easy & healthy recipes available on the internet; combine it with a bottle of wine and you have a feast!
4. Watch out for automatic renewals. It’s all too easy to forget to cancel a subscription to a magazine you no longer read — until, of course, you’re charged again!
5. Live below your means. Almost every person who is debt free or financially independent will tell you that one of the keys to their success was to live below their means. In other words, they make a habit of spending less than they earn.
These simple habits can help you get closer to financial freedom. The secret is to do it again and again, week after week, month after month, year after year.
5 financial habits that will make you richer
