25 Habits to Pick Up Right Away If You Want to Be a Millionaire Before Age 35 - Part 1

by CosmicScale
Self-Development
Published: 6 months ago
|Updated: 6 months ago
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"I'm 22 years old and I want to become a millionaire by 35. How do I do it?" originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Alberto Favaretto, entrepreneur and investor, on Quora: Your mileage may vary, but this is how I recommend you to do (the earlier you start, the better)

14

Tasks

1. Sell all the stuff you do not need (TV, Xbox, PlayStation, etc.)

Once

2. Quit shopping for the sake of shopping

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3. Do not smoke, drink alcohol, do drugs, etc

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4. Remove the Facebook, Instagram, Twitter, Pinterest apps from your iPhone so that you can only access them via your desktop computer (you will automatically reduce your wasted time by at least 90%)

Once

5. Sleep 8 hours a day, consistently

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6. Meticulously decide whether you really need new stuff to buy

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7. Learn how to do your own taxes. Once you understand how taxes work, you can get an accountant (and be able to check what is he/she doing with your tax filings)

Once

8. Ditch fake friends, high maintenance girlfriends/boyfriends, and all other people that actively undermine your efforts. A positive, resilient & optimistic attitude from the people you surround yourself with is essential

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9. Never shop for food when hungry. Buy in bulk. Learn how to cook your own meals (do not eat out often). Do not buy bottled water, limit sugary drinks and other sugar-based stuff that only makes you fat. Limit red meat if possible, and prefer beans and vegetables instead

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10. If you can, use the public transport or a bike. Accordingly, consider ditching your car. In the rare cases you will need / want to do a road trip, you can easily rent a car for a very reasonable sum without all the hassle deriving from car ownership

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11. Do not upgrade your smartphone every year

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12. Always pay your credit card in full at end of every month. Avoid loans and credit (i.e. paying interest to fuel expenses) like the plague. If something is out of the budget, you must come to terms with the fact that you cannot afford it: move on. We do not need 90% of the things for sale out there, anyway

Once

13. Get a good health insurance with above-average coverage. Having a good health insurance will shield you (and your bank account) and allow you to avoid going bankrupt in case of medical emergencies (which occur very easily, even at younger age). Exercise (weight-lifting or anything else at least moderately stressful for your body) regularly: at least twice a week

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14. Be curious about the world out there. Try to read many books (mostly non-fiction), especially in sectors out of your normal studies. Innovation comes from the ability to correlate information between different realms of knowledge

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CosmicScale

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