Five Habits That Distinguish The Rich From The Poor

Difference Made By 240 Minutes

It is trite that each day is made up of 1,440 minutes. The results of a Study has however revealed that only 240 minutes out of the daily 1,440 minutes separates the self-made rich individuals from other people.

According to the study, both the rich and poor spent 1,200 minutes on different activities such as working, spending time with family, sleeping, bathing, grooming, eating, moving from one place to another and getting dressed. What the self-made rich did with the remaining 240 minutes was what stood them apart from every other person.

Study reveals that only 240 minutes out of the daily 1,440 minutes separates the self-made rich individuals from others

Habits Of Self-made Rich Individuals

According to Tom Corley who released the Rich Habits Study after conducting series of interviews with about 233 self-made wealthy persons and 128 poor people over a period of three years, rich people spent 240 minutes of their total number of daily minutes doing certain things which totally differed from the pattern adopted by the poor individuals. His study revealed that:

1. More than 80% of the rich individuals spent about 60 minutes setting their dreams daily

Tom Corley defined dream-setting activities as all activities one gets involved with while pursuing a dream and the goals underlying the dream. He recorded that in most cases, the dreams that were pursued by the self-made rich individuals were not work-related. Rather, they were made up of side hustles and creation of additional income sources.

2. About 80% of them deliberately practised a skill or sought out additional education for 60 minutes every day

The study also indicated that nearly 80% of the rich individuals spent about one hour daily on practising a skill or acquiring additional knowledge concerning skills, their careers or their respective industries. Corley mentioned that the daily practice ensured that they maintained their skills and also improved those skills and knowledge thereby making them better at their money-making ventures.

3. Almost all the rich individuals took part in aerobic exercise for  30 minutes every day

The study indicated that the rich people expressed full awareness that it was impossible to make money while on a sick bed and it was only a person who was alive and healthy that could acquire additional wealth. The study also revealed that the self-made rich individuals understood that healthier people had lesser sick days, more energy and more productivity than those who were sick.

Thus, they took part in aerobic exercises daily. Aerobic exercises have several benefits that include:

• It makes the brain cells healthier

Aerobic exercise helps to fill the bloodstream with oxygen which is in turn transported to the brain. The brain ordinarily uses about 20% of the body oxygen reserves, and by increasing the oxygen flows that gets to the brain, the cells are made healthier and cleaner.

• Aerobic exercise improves the general state of the body

Not only does aerobic exercise make the brain cells healthier, but it also increases the flow of blood, provides the body with oxygen, gives more strength to the heart, helps lower blood pressure and helps control sugar level while also reducing the risk of osteoporosis.

• Aerobic exercise improves the immune system

Aerobic exercises cause the release of specific hormones that help in stress reduction that helps to strengthen the immune system.

4. Almost 90% of the rich individuals spent about 30 minutes building strong relationships daily

The study also revealed that the self-made rich daily took conscious efforts to build and grow strong relationships. For example, they took networking seriously and over 90% of them were actively involved in running business organisations, trade associations, and not-for-profit organisations.

More than 90% of the self-made rich individuals were actively involved in running business organisations, trade associations, and not-for-profit organisations

Also, they kept in touch with their contacts by regularly calling to check up on them and sending them best wishes on their days of celebration such as their birthday anniversaries. They also kept in touch and reached out to them during life-defining events such as the birth of a new baby or the loss of a loved one. By doing that, the study stated that they created lasting memories by reaching out during those emotional periods.

5. All the rich individuals took time to relax and engage in leisure activities for nothing more than 60 minutes every day

The study revealed that the self-made rich individuals also took time to relax and engage in leisure activities. However, unlike others, they did not take out a daily downtime that exceeded an hour.

Thus, daily habits have a direct and very strong effect on a person’s finances, and that makes it essential to engage in habits that amount to productive use of every minute, just like the self-made rich individuals. It is also important to stick with these habits through thick and thin and not only when they are convenient.