In the early yearly years of my banking career I had the chance to meet a lot of customers that were in the same range of wealth and had about the same education, age and background.
After years passing by, I realized that most of them were in the same place, some of them were actually worse and very few of them managed to increase their wealth significantly and become rich.
How come people with the same resources, same opportunities and acting in the same environment developed differently? And how come only very few of them managed to increase their fortune? When I realized that less of top 5% of these people had more money then the rest 95% all together, I started to seek some answers.
First, I started looking what was so different between these top 5% and the rest and I realized that it would be a never-ending endeavor.
I decided to look for commonalities between the richest people I knew and I found out that they had some common traits.
Here are the most important 3 common traits of the rich people: 1.
Rich people take full responsibility for their fortune and act so.
What I mean is that they really plan their personal budget as careful as a business budget.
They know always what is their income, what their expenses will be and what balance they will have at the end of the month, quarter and even year.
Common people usually spend more time thinking on what to order in a restaurant for desert then on budgeting.
2.
Rich people have/develop savings/investing habits.
"Pay yourself first!" is one of the most important philosophies of the rich people.
When budgeting and financial planing, the first and the most important expense is the part that goes into savings account or into an investment account.
Then, what is left is used for other day-to-day expenses.
Common people usually start spending and if there is something left is saved or invested and in the most cases there is some month left after total income is finished.
3.
Rich people use/develop multiple sources of income.
One of the most common traits of all rich people is that they develop multiple sources of income.
Their fortune is not dependent on their earning.
If one source gets dry they always have some other alternatives and don't have to spend all their savings and/or investments to keep themselves above water.
Common people usually depend on only one source of income salary or personal business and when they have to face some challenges use their savings and their investments to cover regular expenses.
In conclusion, there is a blueprint to get rich: 1.
Plan your personal finances as rigorous as a CFO of Forbes Top 100.
2.
Save and invest first.
3.
Develop multiple sources of income.