7 Life-Changing Principles that Wealthy People Live By


When you take a step back and look at your life, what do you see? Are you generally happy or are you depressed? Are you always on the edge of broke or do you understand how to manage your money? Do you have a victim mentality or are you living out of abundance?

These are all good indicators of healthy, powerful people. And there are habits that these people practice that 95% of us are not practicing. And in this, we miss out on the chance to elevate our life from good to great, from mediocre to awesome.

There are a select few habits that are commonplace in the lives of healthy and wealthy people. They are practiced, and they are put into action. These habits have the power to turn your life around, if you are disciplined in practicing them. 

Here are seven life-changing habits that wealthy people live by

1. Happiness is a choice.

Several weeks ago, I had a day filled with some emotionally draining, stressful, and overwhelming moments. I was angry, sinking into depression, and in a bad frame of mind.

But the next morning, I woke up and realized that I had two choices in front of me: I could let what happened completely control me, and I could stay pissed off and depressed about what happened in the past, or I could choose to be happy.

Thankfully, I remembered that there are always two choices we get to make in any situation: to be happy, or to not be happy.

In any situation, there are always two choices: to be happy, or to not be happy.

That doesn't mean it gets to be easier and less of a struggle. But it does mean that I am in control of my inner happiness, and nothing that happens outside of me gets to dictate how I feel. Even when I feel like I've lost, I can use that to make myself stronger. Failure can be used in a positive way or a negative way: my choice.

2. Wealth is a mindset.

The wealthy know that wealth is a mindset. And there are two mindsets: a poverty, or victim mindset, and an abundance mindset or mentality.

95% of people have a poverty mentality going through life. Having a poverty mentality doesn't mean being broke (although that is often a result of victim-based thinking), but it means a way of thinking and living. People with a poverty mindset are in it for themselves, to see how much they can get, to have lots of things.

A poverty mentality believes that there is only so much to go around, and if someone else wins, that means that I lose. It is living in a constant state of never enough and it's all about me, me, me.

But an abundance mindset is the complete reverse. 

Poverty thinks there is never enough, but abundance knows there is always more than enough.

Living with an abundance mindset means believing that there is always more than enough to go around. It believes in helping others in whatever ways it can, because life is so much better when we can live for something greater than ourselves. Abundance doesn't want lots of things, but lots of people. It knows that people are so much better than money, and cars, and fame.

Living with an abundance mindset is like being a magnet to wealth. It naturally attracts opportunity and people to you, because when you live for others, others want to give back in return.

3. I can't control other people, but I can control me.

There will always be outside circumstances that will try to come into your life and steal your joy. Politics, people, work. And our natural tendency is to want to react and lash out to try to control the situation or person.

But we can't control other people, we can only control how we react to them. It's this the buck stops with me attitude that has the ability to propel you to heights you couldn't reach before. It's this feeling of complete responsibility for our words, thoughts, and actions that will take you to where you want to go.

Focus on owning you.

So own you. The good decisions and the bad ones too. We must take responsibility for the losses as well. Remember, you are in charge of your life. Not your parents, not your friends, not your work. You make the decisions, and you shoulder the responsibility that all this brings to your life. 

4. Gratitude will change your life.

All wealthy people know that thankful people are happy people, and not the other way around. Because it is impossible to be pissed off and thankful at the same time.

Harvard Health Publications writes that "expressing thanks may be one of the simplest ways to feel better," as well as helping people be more positive, deal with adversity, and build stronger relationships. Gratitude is the process of acknowledging the good things in our lives, and through that process, we realize that we are connected to something greater than ourselves. And in this, we can't help but to be happy.

5. Living without expectations is less stressful.

There is nothing more crushing to your hope than having high expectations for something, and having those expectations not met. Wealthy people know that life is better, more stress-free, and comes with less anxiety when we can embrace the present and live with open hands.

When we can surrender the outcome and just embrace the process (no matter how hackneyed and overused that phrase has become), we won't be as crushed when we fail and when something doesn't go our way, because failure is an inevitable part of doing life the right way.

Live with great expectancy, not great expectations.

This isn't to say that we should throw our hope to the wayside in exchange for assurance, but rather that we learn to give up the outcome, keep our hope, but not wrap up who we are in the performance of ourselves or someone or something else. Do you have an Open Hands Policy?

6. Celebrating someone else's win doesn't mean I lost.

Powerful people celebrate with others. They are genuinely happy for their successes, and they learn to cheer them on, even when it may feel like doing so hurts their own success. There is always enough goodness to go around.

There is something powerful that takes place in the celebration of others. When we lay down our own agenda, forget about me for a moment, and put the focus on someone else and be happy for their wins, we create a momentum for both sides. This is a win-win for everyone. 

Celebrating their win creates an unstoppable momentum for both sides.

And this creates an environment where people will want to celebrate with us as well in our own wins. This cannot be faked. It must be real and pure celebration of others. Because the one who selfishly puts himself at the center of everything, is the one who finishes alone.

7. Powerful people serve others first.

The wealthiest people in history are the ones who have served the most people. They have served with such love and grace and passion that we can't help but want to be their friend. Gary Vaynerchuk has a rule he calls the 51/49 rule, where you always give at least 51% in a relationship. Meaning, I go above and beyond to help others in every relationship, without an agenda or selfish motives. In doing that, I am positioning myself to receive so much more than I could possibly give away.

Kindness always pays.

There is nothing wrong with serving someone else's vision for a season. This is a humbling realization for most of us, because this seems like a waste of time. But it's not. The act of laying down our own interests in the interest of serving another human being sets you up for greatness. Never be afraid to serve. It has the best return on investment of anything you could ever do.

Practical Next Steps

Notice how the people in your life live. Do they practice any of these habits? What can you learn from them? And lastly, start applying these habits to your own life, but don't do it on your own. Surround yourself with peers and mentors that are living these habits out daily, and watch how they do it, so that you too can practice the steps it takes to make this life matter.

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Life is short, make yours matter.