1. Live Beneath Your MeansThis is the most fundamental habit of the wealthy. That’s because no other wealth building strategy is likely to work if you don’t get this one under control. Quite simply, living beneath your means will provide the capital that you will need to do everything else that will be necessary in order to become wealthy. This means that whatever you earn, you will live on something less. You can set up a percentage, such as 70% or 80% of your income, that you will live on. The rest will be used to fund your efforts to build wealth. This will mean living in a less expensive home than you can afford, driving an older car, preparing meals at home, and learning to enjoy inexpensive pleasures.
2. Pay God First
“But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” – Matthew 6:20-21Not nearly all wealth exists on earth. You should want to allocate some of that wealth to your Eternal future. There’s an earthbound benefits to this as well – when you give money, you are demonstrating your ability to live without it. That’s an important part of learning to live beneath your means, and avoiding the human tendency to allow money to rule your life. Think of it as a process of letting go, so that you can concentrate on more important things.