The Only 3 Habits You Need To Make Money

The Only 3 Habits You Need To Make Money

In the vast ocean of financial advice, it’s easy to get overwhelmed by the myriad habits and strategies touted as the keys to wealth. However, three foundational patterns consistently emerge when we distill the essence of financial success. Understanding these essential money-making practices can be a game-changer in accumulating wealth. With countless strategies and advice floating around, three core habits consistently rise to the forefront, backed by research and real-world success stories. Delving into these habits can be the key to unlocking financial prosperity and setting oneself up for sustained financial growth, whatever path you choose. Let’s explore these foundational practices that can transform your financial journey. These habits, backed by research and the experiences of countless successful individuals, can set you on the path to economic prosperity.

What habits make you rich?

  1. Continuously learn and adapt to recognize and seize evolving financial opportunities.
  2. Exercise discipline in spending and manage finances wisely to retain and grow wealth.
  3. Network and foster strong relationships to unlock potential financial opportunities and collaborations.

Let’s dive into each one.

1. Continuous Learning and Adaptability

Why it’s the cornerstone of financial success: The world doesn’t stand still. Markets evolve, industries transform, and new opportunities arise. Those who remain static in their knowledge and skills risk being left behind. On the other hand, individuals who commit to continuous learning are better positioned to spot and capitalize on new financial opportunities. Money is the product of educating yourself on winning in a professional field or business sector. No one gets their first strategy right, but the winners learn and adapt to what works.

How it makes you money: By staying updated with the latest trends, technologies, and financial strategies, you can identify lucrative opportunities before others. This could mean investing in a promising startup, pivoting your business to a more profitable niche, or upskilling to land a higher-paying job. It can also be as simple as understanding how to invest for compounding growth and managing your finances to optimize spending and save income.

Cultivating this habit: Dive into books, attend seminars, enroll in online courses, and engage in discussions with knowledgeable peers. A mentor can be the most valuable way to become educated in your field of choice as it saves you time and mistakes. Approach the world with curiosity and an open mind to cultivate a growth mindset.

Evidence: A study by the Pew Research Center highlighted that 73% of lifelong learners reported that their learning endeavors improved their job prospects and income. Furthermore, a report from the World Economic Forum on the Future of Jobs emphasizes the need for continuous upskilling and reskilling, given the rapid technological changes impacting various industries.[1],[2]

2. Discipline and Financial Management

Why it’s crucial: Earning money is just one side of the coin. The other side is managing, retaining, and growing that money. Even the highest earners can be in financial distress without discipline and sound financial management. It doesn’t matter how much you earn if you spend it all with no money left over to invest and grow into wealth. You must play potent offense (making money) and defense (saving and investing money) to achieve long-term financial success. Both of these money habits are crucial; having neither keeps you broke.

How it makes you money: By being disciplined in your spending and making informed financial decisions, you save money and allow it to grow. This could be through interest in savings accounts, investment returns, or avoiding high-interest debt.

Cultivating this habit: Start by creating a budget and tracking your expenses. Prioritize saving and invest wisely, focusing on long-term financial goals. Consider using financial management tools and apps to keep track of your finances and investments.

Evidence: A Journal of Consumer Affairs study found that future-oriented individuals were more likely to save, ensuring a more prosperous tomorrow. Additionally, McKinsey and Company research shows that pre-retirees with an adviser or financial plan are five to ten times more likely to feel ready for retirement. [3],[4]

3. Networking and Building Relationships

Why it’s a game-changer: Opportunities, more often than not, come through people. Whether it’s a job offer, a business partnership, or an investment lead, having a robust network can significantly amplify your financial prospects.

How it makes you money: By building and maintaining relationships, you can access opportunities that might be private and unknown by most people without connections. This could mean getting a job offer through a referral, partnering with someone on a profitable venture, or getting life-changing career or business advice. Partnerships and relationships amplify and leverage your knowledge and resources through connections. You don’t have to know everything, you just have to know who to call to get the correct answers.

Cultivating this habit: Engage in industry events, join professional organizations, and maintain regular contact with your network. Always approach networking with a genuine interest in others, offering value before expecting anything in return. Consider joining online networking platforms specific to your industry to expand your reach.

Evidence: The US Bureau of Labor Statistics underscores the importance of this habit, noting that a whopping 70% of jobs are found through networking. Moreover, a study published on the Science Direct website confirms that having social ties to higher-educated co-workers increases individual chances of transitioning to better-paid employment. This indicates that those with more extensive networks have faster salary growth.[6]

Key Takeaways

  • Lifelong Education: Embrace perpetual learning to stay ahead in a dynamic financial landscape.
  • Prudent Fiscal Practices: Uphold stringent financial discipline to earn and amplify your wealth.
  • Relationship Capital: Harness the power of interpersonal connections to discover hidden opportunities.


Three core principles stand out in the journey toward financial prosperity: the commitment to ongoing education, the essence of meticulous financial stewardship, and the invaluable asset of meaningful relationships. Internalizing and acting upon these tenets paves the way for a future prosperous in opportunities and economic growth.

While numerous habits and strategies can contribute to financial success, focusing on these three pillars of financial habits can provide a solid foundation for achieving all your higher financial goals. Cultivate these habits, and you’ll be well on your way to a prosperous economic future.