I watched a very good video produced by my colleague and friend, Bernie Heine, a great PBCA Business Coach located in Massachusetts. Bernie’s video was inspired by Thomas Corley’s book, Rich Habits. Great list! Here is my take on my favorite five habits. I’ll do another blog article on another five great habits in a few days. Consider engaging in these great ideas and putting them to work for you as strong habits, and in so doing, you will pretty well ensure that you are going to enjoy a rich life!

Live Within Your Means –  Pay yourself first, and after you’ve saved 20 percent of whatever you make, live on the remaining 80 percent. Brilliant advice, and just doing this one thing will make a humongous difference if you’re living from paycheck to paycheck. Just because you WANT a new car, doesn’t mean you should spend your hard-earned money to get one. Save, invest, budget, and develop some self-control financially.

Read Every Day – There’s never been a stronger organ for humans than our incredible brains. Exercise your brain daily, and by reading for at least a half hour every day, you’ll extend your capabilities to yourself and your family and your value to others. Improve yourself, daily! Along the way, you will see things differently and be better able to recognize and capitalize on opportunities that might pass you by otherwise.

Control Your Emotions – Relationships are the foundation of human interaction and the ability to collaborate successfully with others. Intelligent people know that just because you CAN say something doesn’t necessarily mean that you SHOULD. By filtering your thoughts and by employing some restraint over what you say, you will build trust and see improvement in relationships that will open doors for you.

Network and Volunteer Regularly – Both of these great ideas will help you to expand upon your base of supporters and position you to build valuable relationships with people who can expand your thinking and your opportunities for growth. Giving something back to your community is a great way to feel better about yourself and to ensure that you are surrounding yourself with the right kind of people.

Set Goals, Not Wishes – A wish is a pretty flimsy thing. You cannot control it, and you really cannot build upon it. A goal, on the other hand, is something documented and substantial. You can control a goal, and you can build upon it as you achieve it. A telling statistic. Only 3 percent of people who are struggling to make ends meet ever pursue goals and write them down.

What do you think, do you like these five gems? They are just five of the sixteen great habits that will lead you to become rich. If you like these, check in with us again in a couple of days, and we’ll have another five brilliant habits for you to consider. Let us know what you think about these, and add a comment to this article. Go ahead, it won’t hurt…

Michael Beach is an Executive Development Coach and Business Advisor in the Twin Cities area in Minnesota. Michael works with Business Owners, C-Suite Executives and their Emerging Leaders. Michael is passionate about helping people and strives to equip his clients to build company cultures that deliver ambitious results and transformative change. What are you doing to develop the next generation of leaders for YOUR company? If you’re not comfortable with that answer, send an email to Michael at info@michaelbeachcoach.com and Michael will be glad to talk to you about how he helps dozens of companies around the US with developing THEIR next generation of leaders.