20 Life Hacks That Increase Your Wealth
1. STOP WATCHING THE CLOCK
If all you ever do is focus on how much you get paid per hour, you’ll be working long hours for the rest of your life. Take a lesson from Tim Ferriss’ “4-Hour Workweek” and start thinking about how you can get paid for results instead of time. You’ll be motivated to work smarter, not longer.
2. DON’T SHY AWAY FROM SELF-PROMOTION
You’ll never establish a customer base if you never tell anyone about your product. Promotion can sometimes feel pushy, but it’s a crucial part of business. Use social media, local advertising and other marketing methods to get your name out there.
You don’t need to become a full-fledged minimalist, but it’s time to trim the proverbial fat. Look at your budget and eliminate nonessentials. Spa treatments, expensive restaurants, most retail shopping and unused gym memberships are excesses than can sabotage your financial health
4. CHANGE YOUR PLAYLIST
When you’re not working, you should be learning and gaining as much knowledge as you can, whether it’s related to your business or not. Listen to audio-books and podcasts while you drive, shower, and clean your house. You’ll find that it’s as relaxing as watching a show at the end of the day, but you’ll be getting a brain workout instead of just vegging out.
5. MONETIZE YOUR TALENTS
If you’ve got a unique skill, you could create a business around your talents. Whether you’re a skilled programmer with a vision for launching a development company or you have a unique style and want to create your own product line, use your interests, passions, and abilities to make money.
6. GET A MENTOR
James Wilkinson, CEO and president of Pamco Machine Works, Inc. in Rancho Cucamonga, Calif., recommended that you “identify successful people in your industry and reach out for advice.”
“Be bold by asking, writing, emailing, or calling them directly,” he said. “Ask them to help you solve a specific problem, give you general advice or become your mentor.”
7. DRINK WATER
Life’s simplest necessity can actually increase your wealth. If you cut back on sodas, coffee, and other costly and unhealthy beverages and stick with water instead, your teeth can get stronger (saving you money on dental bills), your anxiety can lessen (saving you money on prescriptions and therapy), and your brain can become healthier and more efficient.
8. GIVE MORE
Don’t make the mistake of thinking that greed equals growth or that your success must come at the expense of others. Help people by volunteering, giving of your time, truly listening and being generous. Be happy to share your successes with people. You will create more avenues to success by gaining allies than by making enemies.
9. STOP WISHING — SET GOALS INSTEAD
Wealthy people don’t allow their success to hinge on hopes. They commit to success by working to achieve clearly defined goals. Set some goals for the next week, month, six months and beyond. Define your goals and outline the smaller steps you should be taking to achieve them. A good calendar system helps.
10. ADAPT AS YOU PURSUE GOALS
While being committed to your project is important, it’s equally necessary to be able to identify when to adjust the plan or even change the end goal. If you’re developing an app and you start seeing the need to change directions, don’t be afraid to shift focus if it will mean long-term success.
11. CLEAR CLUTTER FOR MORE BRAIN SPACE
A certain amount of messiness is acceptable as part of the “creative mindset,” but at some point clutter becomes a distraction to your work whether you realize it or not. Clear your primary work area so you have some space for your thoughts. You’ll be surprised by how much more productive you can be in a clean room.
12. DRIVE LESS
Not only will less driving save you money on gas, maintenance, and potential accidents, but the exercise of walking and biking can help boost your brainpower by slowing the brain cells’ aging, improving memory, and alleviating anxiety.
13. IDENTIFY NEEDS AND INVENT SOLUTIONS
If you ever think to yourself, “I wish there was a product that could …” then start thinking about how to turn those ideas into realities. Chances are, if you identify a need, other people would pay money for a solution to the same problem.
14. ACCEPT CRITICISM
Don’t be too proud to accept advice and criticism. It doesn’t always feel good to hear criticism, but not being discouraged by it, learning from it, and moving forward can feel great. Use criticism to motivate you to further perfect your business model.
15. ASK QUESTIONS
Wealthy people are driven by the desire to learn and grow. By asking a lot of questions, you can learn from other people’s mistakes and experiences, gain knowledge about your field, and create strong relationships with people.
If you want to be able to take credit for your successes, you need to start taking credit for your failures. Success is as much a mindset as it is a status.
17. BLOCK YOUR TIME
As helpful as media and social media are for connecting, informing, and entertaining, most people find themselves distracted too frequently. Between click-bait titles, cute videos, friends’ updated statuses and online games, it’s a wonder anyone gets any work done at all.
Set up a timer or a block on your computer for the websites that are your biggest time wasters. Create blocks of time in your schedule for work and play. Your mind will be clearer, and you’ll have more time to focus on what’s important.
18. RECOGNIZE THAT YOU REAP WHAT YOU SOW
Think of your brain as a crop field. If all you ever did was harvest creativity and success, your fields would soon be dry, barren, and picked over. Allow yourself time to sow seeds of success by resting, thinking, brainstorming and taking breaks.
19. PUT YOUR MONEY TO WORK
You work hard, and your money should, too. Make your money work for you by investing in stocks, mutual funds, CDs, peer-to-peer lending, real estate and other vehicles that can help you build wealth. If you and your money work at the same time, you can earn money even faster.
20. ASSOCIATE WITH OTHER SUCCESSFUL PEOPLE
Rubbing elbows with successful people is a great way to take steps toward building wealth. By creating relationships with influential people, you can reach a wider customer base. You can also learn about wealth and business from seasoned pros.