15 Daily Wealth-Building Habits Rich Folks Swear By

Explore the wealth-building habits that separate the rich from the rest.
Updated Nov. 21, 2023
Businessman flying on his private jet

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Becoming a millionaire isn't just about luck or an inheritance. It often involves a set of habits and behaviors to build wealth. The daily routines, decisions, and mindset of millionaires contribute to their financial success.

While these habits may not guarantee instant wealth, they can significantly increase your chances of achieving your financial goals. 

We'll delve into the 15 hidden habits of millionaires that you can adopt to boost your wealth-building journey.


Featured High Yield Savings Accounts

CloudBank 24/7 Savings - 5.26% APY2

High-yield savings account. $1 minimum deposit. FDIC insured.

Open Account
Upgrade Premier Savings - 5.07% APY

High Yield Savings Account. $1,000 minimum balance. FDIC Insured through Cross River Bank.3

Open Account
SoFi Checking & Savings - Earn Up to $250 When You Set Up Direct Deposit

Earn 4.60% APY4 and collect up to a $250 cash bonus with direct deposit or $5,000 or more in qualifying deposits.5 FDIC Insured.

Open Account


fotopak/adobe discount coupons scattered on white background

Frugality is a trait deeply ingrained in the lives of millionaires. They understand the importance of smart spending and saving. They avoid wasting money and opt for cost-effective alternatives. 

This habit isn't about living miserably but about making mindful choices. Studies find that the wealthy are more likely to drive brands like Toyota, Honda, and Ford.

By practicing frugality, millionaires amass more wealth because they allocate their resources wisely and focus on investments that will yield higher returns over time.

Goal setting

MarekPhotoDesign.com/Adobe senior man is sharing goal setting methodology on a blackboard

Millionaires don't leave success to chance. They set clear, measurable goals for themselves. Goal setting provides a roadmap for their ambitions. It helps them stay focused, motivated, and accountable.

They steadily progress toward their objectives by breaking down their big dreams into smaller, achievable steps. Goal setting is a powerful habit that drives millionaires to turn their dreams into reality.

Continuous learning

Prostock-studio/Adobe indian man watching webinar

One of the hidden habits of millionaires is their unquenchable thirst for knowledge. They believe in the power of continuous learning and consistently seek to expand their minds, whether through reading books, attending workshops, or pursuing further education.

This habit keeps them ahead in their field and allows them to adapt to a changing world, which is essential for long-term success.


motortion/Adobe teenager boy sitting at table counting money

Discipline is the backbone of success for millionaires. They follow a strict routine and adhere to their financial plans. This habit keeps them from making impulsive decisions or indulging in reckless spending.

Millionaires understand that financial discipline involves making short-term sacrifices for long-term gain. It consists of making a budget, sticking to it, and saving regularly. Discipline is an essential habit that allows millionaires to achieve their financial goals.

Diversified investments

ckybe/Adobe data analysis to increase sales

Diversification is a core principle for millionaires in managing their wealth. They spread their investments across various assets, such as stocks, bonds, and real estate.

This strategy mitigates risks and ensures they don't put all their financial eggs in one basket. By diversifying, millionaires optimize their portfolios for long-term growth while reducing exposure to the volatility of any single investment.


Mediteraneo/Adobe friends talking and laughing

Millionaires understand the value of building and maintaining strong professional relationships. Networking helps them gain insights, access new opportunities, and stay updated on market trends.

Millionaires often participate in industry events, join professional groups, and nurture connections that can lead to lucrative partnerships and collaborations. This habit is not just about socializing but about leveraging relationships to bolster their financial success.

Financial education

insta_photos/Adobe working on laptop writing notes

Continuous learning doesn't stop with general knowledge. Millionaires make it a habit to expand their financial education and understand complex financial concepts and investment strategies.

This knowledge empowers them to make informed decisions about their wealth, assess risks, and identify opportunities. Whether through formal education or self-study, millionaires continually enhance their financial literacy, making their money work smarter for them.

Multiple income streams

Vitalii Vodolazskyi/Adobe money from side gig and keyboard

Relying on a single source of income is a risky financial strategy. Millionaires understand this and diversify their income streams. They might have a primary job or business, but also invest in real estate, stocks, or create side businesses to earn extra cash.

These multiple income streams provide financial security, protect against economic downturns, and increase wealth-building potential. By having several avenues for income, millionaires can navigate challenges and achieve long-term financial stability.


PheelingsMedia/Adobe worried woman using laptop at restaurant

Resilience is a key trait among millionaires. Life presents personal and financial challenges, and the ability to bounce back is crucial. Millionaires understand that setbacks are part of the journey, and they persevere through adversity.

This mental toughness and adaptability help them weather financial storms, learn from failures, and come back even stronger. Resilience keeps them on track, allowing them to reach their wealth-building goals, no matter the obstacles they face.

Hiring experts

insta_photos/Adobe A team leader is talking to her colleague in office.

Millionaires recognize their strengths and limitations and are not afraid to seek professional guidance. They assemble a team of experts, such as financial advisors, tax consultants, and lawyers, to navigate complex financial matters.

These experts provide valuable insights and strategies to optimize their financial situation, reduce tax burdens, and protect their assets. 

By entrusting these specialists, millionaires can focus on their core competencies while benefiting from the collective wisdom of their expert advisors.

Time management

Kaspars Grinvalds/Adobe Woman using calendar on office computer

Successful millionaires excel at time management. They understand that time is their most valuable asset. By prioritizing tasks, setting goals, and adhering to efficient schedules, they make the most of each day.

Time management helps them maintain work-life balance and consistently pursue wealth-building opportunities. Millionaires are skilled at delegating tasks and avoiding procrastination, ensuring they remain productive and focused on their financial objectives.


Aree/Adobe businessman is using AI on smartphone

Innovation is the driving force behind the success of many millionaires. They constantly seek new ways to solve problems, improve products or services, and create value. By embracing innovation, millionaires stay ahead in rapidly evolving markets.

They're unafraid of change and actively seek out opportunities to disrupt traditional industries or develop groundbreaking solutions. 

Their innovative thinking ensures they remain relevant and continue to grow their wealth by identifying emerging trends and pioneering new ventures.

Charitable giving

mtrlin/Adobe female volunteer preparing food donation boxes

Many millionaires make charitable giving a consistent part of their financial journey. They understand the importance of giving back to the community and supporting causes they are passionate about.

By donating to charities and nonprofits, they not only make a positive impact on society but also benefit from potential tax advantages. 

Charitable giving reflects their commitment to social responsibility, and it can create a sense of purpose and fulfillment beyond wealth accumulation.

Realistic risk-taking

Andy Dean/Adobe uncertainty green road sign over storm clouds

Millionaires are skilled at taking calculated risks. They understand that risk is inherent in most wealth-building opportunities and approach it with a realistic and informed perspective.

They conduct thorough research, seek advice, and carefully assess potential downsides before making decisions. 

This balanced approach to risk-taking helps them identify and capitalize on opportunities that align with their financial goals while mitigating unnecessary exposure to potential losses.


Ron Dale/Adobe freelancer in a cafe

Perseverance is a cornerstone of millionaire success. These individuals understand that achieving long-term financial goals often requires overcoming setbacks and challenges. They maintain a determined mindset even in the face of adversity.

Whether it's navigating economic downturns, business failures, or personal setbacks, millionaires persist in their pursuit of success. 

This unwavering commitment to their goals and adaptability allows them to weather storms and continue on their path to financial abundance.

Bottom line

Tyler Olson/Adobe wealthy woman stepping out of car

The habits and behaviors of millionaires aren't always flashy or conspicuous. Instead, they're often hidden in the daily choices and actions of these successful individuals. Adopting these habits can transform your financial future and set you on the path to wealth.

So, consider integrating these millionaire-approved practices into your life if you're looking to grow your wealth, start a business, or simply secure a comfortable retirement.

Public Benefits

  • Get $3-$300 in free stock when your account is approved*
  • Invest in 1000s of stocks and ETFs with fractional shares—no account minimums
  • Follow friends in a social feed and learn from a diverse community of investors
  • * Free stock offer valid for U.S. residents 18+. Subject to account approval.

Author Details

Adam Palasciano Adam Palasciano is a personal finance-obsessed and money-savvy individual who loves to hash out content on all things saving money. He specializes in writing millennial-friendly personal finance content, covering topics ranging from trending financial news, debt, credit cards, cryptocurrency, and more.

Want to learn how to make an extra $200?

Get proven ways to earn extra cash from your phone, computer, & more with Extra.

You will receive emails from FinanceBuzz.com. Unsubscribe at any time. Privacy Policy

  • Vetted side hustles
  • Exclusive offers to save money daily
  • Expert tips to help manage and escape debt