Lifestyle and Habits that Build Wealth by Ralph Teller

12 Tips to gain Financial Independence

Eat Less Junk Food. 97% of poor people consume 300 + calories from junk food each day. 70% of wealthy people did not consume 300 or more daily calories from junk food. Is this because people that are wealthy (i) have higher self esteem and have a healthier diet, (ii) are more educated about health risks associated with junk food consumption, and or (iii) think more clearly by not consuming the empty sugar, buzz creating, dehydrating calories contained in junk foods? Tom Corley Rich Habits - The Daily Success Habits of Wealthy Individuals .

Exercise Regularly. 76% of the wealthy participate in aerobic exercise 4 times a week, compared to only 23% of poor people.

Keep Learning. 88% of wealthy people read at least 30 minutes per day to educate themselves about new things or read about their business or profession, compared to just 2% of the poor.

Nurture Relationships. "Successful people are students of relationship building. They continuously seek ways to improve their relationships." states Tom Corley. 79% of wealthy people network at least 5 hours per month, compared to only 16% of the poor.

Don't Procrastinate. Wealthy people don't procrasintate and instead have a "Do it now!" philosophy.

Associate with Positive People. Attitude is contagious. It's recommended to associate with other positive people that encourage and motivate. Minimize exposure to negative people.

Save and Invest. Regardless of your income and age, always save some amount from each of your earnings. Initially saving is difficult, especially when you are on a tight budget. However, start small. Savings increase and overtime provide security and increase your life options.

Spend Wisely. Be prudent in your spending so that you buy mostly what you need and not what you want. There's a big difference between needs and wants.

Eliminate Debt. Debt, particularly relatively large debt, can be crippling to your quality of life and living standards. The amount needed to service payments on your debt limits your choices! If you have large debt, stay focused on reducing the principal balance, even if at a modest rate.

Give Generously to Others. Give generously to others by sharing your time, money and assets. Donate!

Stay True to Your Principles. There are no short cuts to success. Stay true to your principles as you steadily build your wealth. Compromising your principles along the way will create more problems than success and will eventually negate any short term financial gains.

Passion, Focus and Time Management. We all unique skills, insights and purpose. Stay focused to the extent practicle on pursuing your passions. Manage your time daily so that your time is focused on accomplishing your mission.

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