The 3 Rich People Habits That Changed My Life

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Hey what is going on you guys i hope you’re having a great day so far so what we’re going to be talking about in this video here is the three habits that have absolutely changed my life these rich people habits that i have learned from different mentors or different books that i have read out there and i’m going to share with you guys each of these three habits and

Where i learned this important lesson and i would highly recommend considering implementing these strategies into your life if you’re looking to achieve more or basically you know mostly have better financial success or success in any other area of your life so a quick background on myself you know i used to work that traditional nine-to-five job i was earning a

Salary of around you know sixty-five thousand dollars per year and about a year and a half ago i left that job to pursue entrepreneurship and building my own online business and in that process you know i didn’t start out making a ton of money but i’ve now scaled that business up to a point where i’m earning you know typically around $1,000 a day or more sometimes

Even approaching 2000 and to go from making you know sixty thousand dollars a year or two in some cases 60 thousand dollars a month requires a lot of different mindset changes and shifts and these three things have the largest impact on this journey for myself number one is the five-minute rule and this is one that i just recently started implementing and this

Basically eliminates poc rastenn ation entirely the five-minute rule is very simple anytime something comes up during the day you think about it in your mind and you say okay is this gonna take me more than five minutes or less than five minutes in any task that comes up throughout the day that’s gonna take me less than five minutes i just do it now i don’t bother

Putting it on a list i don’t put a reminder in my phone i don’t procrastinate i will literally just do it right now and what i found is that 90% of my day-to-day tasks that come up out of nowhere take five minutes or less meaning that they don’t end up going on a list they get done right now and then you don’t have this build up of things you are procrastinating

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On now if the five minute rule is too much for you you can change it to a three minute rule or even a one minute rule to get started but getting rid of this procrastination has been absolutely huge for my success being able to get more done and not having these things pile up for me you know taking care of things as they come up if they’re going to take less than

Five minutes do it now and get it out of the way now as far as where i learned that lesson i can’t exactly remember i believe it was just a simple youtube video i was watching on how to be more productive but after i heard that i knew it was gonna be an absolute game changer and i started implementing that into my life from day one number two the second habit that

Made a huge change in my life is following the 80/20 rule which comes out of the book the 4-hour workweek by tim ferriss if you guys have not read that book make sure you grab a copy i will link up to it in the description below but the 8020 rule is such an important concept especially if you own your own business and essentially what this says here is that about

80% of your results in your business or anything you’re doing are derived from 20% of your efforts and the other 80% of your efforts are yielding your just 20% of your results and so if you eliminate that 80% and just focus on the 20% that is having the largest roi for you you’re going to be so much more successful and i implemented this strategy in my own business

With affiliate marketing last summer i was at a bit of a crossroads with my business i didn’t necessarily know how to grow my business past a certain dollar amount and i had a number of different options in front of me and i simply applied the 80/20 rule and i trimmed out all the fat of my business i had these things i was doing them we’re not making me more money i

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Needed to delegate more and get stuff off my plate and i eliminated that 80% and then focused a hundred percent of my efforts on the 20% that was driving most of the results and as a result i took my business from ten or fifteen thousand a month to thirty to sixty thousand in a very short period of time by putting all of my efforts on what was yielding me the most

Results so applying the 80/20 rule to your business or your own life is another huge game-changer and it’s a rich person habit you must develop third and finally is the $100 rule and actually learned this from a friend of mine he has a youtube channel called bulldog mind set his name is john sam nez and i was sitting down with him for dinner and he basically told

Me about this $100 rule where for him he sets the dollar amount at one hundred dollars anything less than a hundred dollars if he’s spending money on it he doesn’t bother trying to get the best possible price because it’s not worth his time to go out there and chase down a sale to save a couple of dollars now does the $100 rule make sense for everybody absolutely

Not if you’re not in a position where you’re making you know six figures or multiple six figures you may still want to try to save money on things when you’re buying them but you may find it makes sense to have a five-dollar rule or a ten dollar rule or a twenty dollar rule where if you’re spending less than that dollar amount of money you’re not gonna bother trying

To get the best possible price for because it’s just not the best use of your time so just to give you guys an example of that when i was younger my mom and i used to have to try to save a lot of money when we were grocery shopping and so we would clip coupons on every sunday we’d go through the paper clip out coupons and we would go to multiple different stores

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To try to get the best possible deals taking advantage of sales now at that point in my life i wasn’t making much of any money i was pushing carts at a grocery store and so it made sense for us to be saving a couple dollars here and there now at this point in my life because i’m making substantially more income it doesn’t make any sense to clip coupons and try to

Save 50 cents or a dollar because of how much i’m earning my time is better spent earning more money as opposed to trying to pinch pennies and you know clip coupons and save a couple of dollars so the dollar amount for this rule is relative to how much money you’re earning it might not be worth it for you to chase down a sale for something under 20 dollars but if

It’s under $100 it might be but i just want you guys to consider how much time you’re spending chasing down sales and saving a couple of dollars and whether or not that is the best and most effective use of your time but anyways guys that’s gonna wrap up this video those are the three rich people habits that have had the biggest impact on my life and allowed me

To be you know a lot more successful than i was even six months ago and especially a year ago and i would highly recommend you know considering picking up at least one of these habits and making it a part of your everyday routine but i’d love to hear what you guys think about these let me know in the comments section below what habits you follow if you guys follow

Any of these habits or rules outlined i’m always looking to learn new strategies and new ideas from you guys too but thank you so much for watching this video i hope you enjoyed it and i will see you in the next one

Transcribed from video
The 3 Rich People Habits That Changed My Life By Ryan Scribner

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