JASPREET SINGH: 15 HABITS THAT CAN MAKE YOU WEALTHY
Have you ever wondered what separates those who achieve great things from everyone else? What habits do successful people practice that help drive them more effectively toward their goals?
For Jaspreet Singh, the answer lies in cultivating a mindset dedicated to learning, growth, discipline and other key elements that he says can “make you wealthy.”
Check Out: Robert Kiyosaki’s 7 Ways To Become Wealthy Beyond the 9-to-5
Learn More: 5 Genius Things All Wealthy People Do With Their Money
Singh is the host of the “Minority Mindset” channel on YouTube, with over 1.8 million subscribers. He regularly dispenses financial advice, and in one of his recent videos he highlighted habits that he said will drive success and wealth — if you follow them.
Keep reading for a closer look at Singh’s 15 habits that can make you wealthy.
Always Give Your Best
Singh said this involves putting in maximum effort regardless of recognition. Winners understand that excellence is a habit, not a one-time event. They don’t wait for external validation — they give their best effort in everything they do, regardless of recognition or compensation.
Find Out: 7 Ways the Upper Middle Class Can Become Rich in 2024
Work To Learn
This habit involves prioritizing learning over immediate income gains.
“You’ve got to be willing to work to learn before you’re willing to work to earn,” Singh said.
By this, he means picking up essential skills, even if you’re doing it in an unpaid position. It may seem counterintuitive, but Singh said, “If you’re so focused on how much money you’re making today, it is going to be nearly impossible for you to scale your income.”
Earn Without Needing To Impress
Singh said it’s important to know the value of your wealth without having to show it.
“One of the biggest freedoms in the world is when you can start earning money and don’t feel the need to go out and spend to show off,” he said.
By avoiding conspicuous consumption, you can put your earnings toward things that will help you build cash flow faster and more effectively.
Know Your Why
In Singh’s view, having a clear “why” is crucial. It’s not enough to earn just to earn. You need a purpose in life that gives you direction and fuels your motivation, especially when things get tough.
Singh said, “Money is a very temporary motivator,” and without greater direction, it’s difficult to cultivate other habits like discipline and having faith in yourself.
Recognize Opportunity in Failure
Singh said this habit is one he has “been very fortunate to find because every time I got scammed or screwed over, I was able to find some sort of opportunity.”
Not every investment, business deal or financial move is going to work out in your favor, but if you can find something in that loss that you can gain from, even if it’s just a lesson in what not to do, you’ll be closer to your ultimate success.
Ignore the Hate
Sometimes people who have supported you suddenly get envious of your success.
Singh described this habit as odd because “you go through this interesting curve of support. In the beginning, everyone’s going to say, ‘Yeah, I love this idea, get out of debt, go become rich, go and start this business,’ and then when you start actually living those dreams, that support turns into this kind of weird envy.”
To keep your efforts moving, don’t pay attention to negativity and other distractions.
Learn From Others’ Mistakes
“It’s valuable for you to learn from your own mistakes,” Singh said, “and you can save a lot of money by learning from your own mistakes. But if you can learn from other people’s mistakes, this can [multiply by] 100 how much wealth you can build.”
Keep Money in Your Possession
This habit is pretty straightforward.
Said Singh: “If all your money is going out to look like you’re rich, on your nice car, on the nice clothes, on the nice lifestyle, it’s going to be impossible for you to become wealthy.”
Delay Gratification
Singh said of delayed gratification, “This one is tough and requires sacrifice. You have to believe in whatever it is that you’re doing and stick with the system for a long enough time.”
Crucial to this habit are things like weathering market downturns without cashing in your investments and harnessing the power of reinvesting your gains.
Take Risks
This is another simple habit, and Singh stated it succinctly: “If you’re not willing to take risks, whether it’s with your money or your time, it is going to be impossible for you to see the gains you might see.”
Live a Life Worth Living
This is less a financial tip than a lifestyle tip, but it’s crucial.
“You can have millions of dollars in your bank account,” Singh said, “but, if you have no purpose in life, it doesn’t really do you much good.”
Singh suggested to focus on four kinds of fitness. “To live a life worth living, you need to be physically fit, mentally fit, spiritually fit and financially fit.”
Don’t Be Like Everybody Else
With this habit, Singh emphasizes the value of being original and not following the same trends others might.
“If you keep doing what everybody else does, you’re going to end up like everybody else,” he said. “The majority of people are broke, unhappy and unfulfilled.”
To avoid this fate, nurture your character traits and judgment.
Exercise Discipline
Singh emphasized this as one of the most important habits, saying, “This is that single factor that can allow you to become more wealthy — or not.”
This involves cultivating traits like persistence and resilience so you can build the determination you need to achieve your financial goals.
“When things have got to get done,” he said, “it’s up to you to decide if you’re going to get it done or not, and if you have the discipline, to get things done well.”
Invest In Yourself
Singh said this habit is “tough, especially in different stages of your career and financial life,” and admitted, “I used to be very against the idea of paying for education.”
Like any investment, Singh said this isn’t guaranteed to show returns every time.
“Sometimes I would go out and spend $3,500 on a class, and sometimes I would make 10 times more that money back,” he said. “Sometimes, I would lose all of that money.”
But Singh said the key is to “start piecing these little pieces of education” together so you can then use them to further your career or investment expertise.
Have Faith in Yourself
Singh’s last habit is to believe in yourself and your potential to succeed. He said this is a difficult habit to maintain, and “sometimes you’re not going to be able to sleep at night,” but this habit is essential to success.
“Whatever it is that you want to do today,” he said, “you’ve got to believe that you can do it for yourself.”
Making Singh’s 15 Financial Habits Part of Your Mindset
Singh recommends building a mindset that isn’t focused on blind ambition, unguided greed or instant gratification, rather on a strategic approach to life and financial goals fueled by thoughtful purpose, personal resilience and a commitment to continued growth.
Following his 15 habits may not guarantee overnight success, but by implementing them into your life, you stand a much better chance of realizing your personal and financial goals.
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This article originally appeared on GOBankingRates.com: Jaspreet Singh: 15 Habits That Can Make You Wealthy
2024-04-26T16:22:56Z dg43tfdfdgfd