I don’t usually read or listen to Dave Ramsey, but I came across an interview he did with Tom Corley I thought was interesting. Tom is the author of Rich Habits – The Daily Success Habits of Wealthy Individuals. They discussed 20 things rich people do (or don’t). I’ve quoted a few of the more interesting ones along with my thoughts below:
70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day.
Makes sense that wealthy people eat better. Junk food requires little preparation and appears very cheap at the time of purchase.
76% of wealthy exercise aerobically 4 days a week. 23% of poor do this.
This is interesting. Exercise takes time and that’s something poor people don’t have – they’re busy working low paying jobs. Or maybe lower paid physical jobs that leave them exhausted?
63% of wealthy listen to audio books during commute to work vs. 5% for poor people.
Income is highly correlated with education. I suspect many high income people also have long commutes so they try to get some real value out of that time.
81% of wealthy maintain a to-do list vs. 19% for poor.
More goal setting type behavior here.
63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor.
Growing up, I was not “wealthy”. But both of my parents valued education. I remember many trips to the library with mom and practicing my spelling with dad. I’m not sure if there’s a special point being made about the books being non-fiction?
70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% for poor.
I think a lot of wealthy parents want their children to realize that not everyone lives the way they do and that some things you do just out of kindness and not a paycheck.
80% of wealthy make hbd calls vs. 11% of poor
Wasn’t sure what this meant! Googled around and found it stands for “happy birthday” calls. Not sure what to make of this.
67% of wealthy write down their goals vs. 17% for poor
Goal setting is a pattern.
6% of wealthy say what’s on their mind vs. 69% for poor.
This one took me by surprise. I think of the wealthy as being more forward. “I know what I want and I’m going to get it” type people.
79% of wealthy network 5 hours or more each month vs. 16% for poor.
I’m positive wealthier people are in careers that reward networking highly. The poor would definitely benefit, but I think a lot of the poor are insulated from those more successful people who could open up doors.
67% of wealthy watch 1 hour or less of TV. every day vs. 23% for poor
TV is easy, passive entertainment. It’s not helping anyone get rich except the guy who created the Sham-Wow!
6% of wealthy watch reality TV vs. 78% for poor.
I’m embarrassed to admit it, but I watch Big Brother every summer.Trashy, but they suck you in. I also catch myself getting into the Amazing Race sometimes.
84% of wealthy believe good habits create opportunity luck vs. 4% for poor.
Definitely agree with this. You can create “luck” by designing your lifestyle in certain ways.
76% of wealthy believe bad habits create detrimental luck vs. 9% for poor.
Agreed. Always late to work? That might be why you didn’t get a raise. Smoke? That’s why you seem to get sick more than other people. Not luck!
Definitely some good ideas, but there’s a correlation vs. causality issue with many of these. For example, are audiobooks making people wealthy or do wealthy people happen to like audiobooks?!?
Which group do you fit into? Any of these really surprise you?