Tuesday, March 1, 2016

Habits of Wealth Accumulation

A new study suggests that it's possible to tell who has "wealth potential": people who have a high likelihood of becoming wealthy in the future. According to the research conducted by the firm DataPoints, it's all about the habits people keep.

Here are the five most critical habits that show whether someone is likely to accumulate wealth:
  1. Tracking spending on budget categories.
  2. Tracking expenses and receipts.
  3. Spending time on financial planning.
  4. Treating savings as sacred - never withdrawing from them for regular purchases.
  5. Investing steadily, even during downturns in the market.

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