When we talk about wealth creation, we are referring to Increasing assets and decreasing debts over time. Many people face various obstacles to financial independence, even if they are educated and financially literate. What they really lack is the discipline of developing the right habits and sustaining them with consistency for wealth creation. Without these important habits, getting rich may look impossible. Successful individuals have learned and have mastered some of these inevitable wealth-building habits.

In discussing a topic like this, there is a need to understand the difference between assets and liabilities. Assets bring in money, while liabilities take away money. The rich and the wealthy seek to acquire assets, but the poor and the middle class are increasingly claiming liabilities as assets. That is, they view obligations and luxuries as assets.

Wealth-building habits are requirements that your assets, investments, and savings must meet to improve your quality of life and the things you can do in your life.

‘If you want to achieve lasting wealth, you must be willing to change your habits.”

You must know that rich people share similar habits. This will help you see why they are all rich. It’s not by accident, there’s intentionality in habit formation.

The most successful people in the world don’t get to the top of their game by acting like everyone else. Rather, they possess specific traits and behaviors that have helped them create wealth faster than others. In effect, they are willing to do what most won’t do. Habits make up 95% of a person’s behavior. In fact, you are the sum of your habits.

If you have had a struggle with your personal or business finance, then read this article, discover the six important wealth-creation habits every wealthy man has consciously cultivated.

Acquire Financial Literacy:

Your mental assets are your greatest assets. Financial literacy involves skills that will increase your finances positively. All other investments rely on education. If you are rich in knowledge, no one can ever make you poor. A gang of thieves can steal your money and goods. But knowledge cannot be stolen. Read good books that will improve your financial intelligence, watch meaningful movies to will design pictures and lessons in your mind which can later inform your decision-making processes, attend training programs and improve your intellectual capacity. But ignore the cost and think of the value you get from it. Make these your life habit. Specifically, financial literacy involves learning about Finance, Marketing, Accounting, and the legal systems that regulates how money is made in your country. What this knowledge will do for you is to build up mental wealth files in mind, and in time of decision-making, you naturally decide in the direction that favors your financial growth. You see why you must constantly look up to trusted resources and consuming as much of their media as possible. Read books, blog posts, and articles, listen to podcasts and watch videos.


Having a budget in mind is one of the first things you should consider when building a habit for wealth creation. You can never move forward in life without setting a specific goal for yourself. This also helps you in planning your expenses too.

Setting a budget in your mind is one of the number one steps towards your wealth creation, which without this, your earnings and expenses will just continue to remain very stagnant. Ever heard of Vineet Patawari, the co-founder of the stock analytic app “StockEdge.”?

This very co-founder said that “Having a budget gives you the visibility of, and thus, the control on your spending. With a budget, you will know if you have any surplus money and you will be able to implement smart saving and investing strategies. It makes forecasting future expenses and savings easier. Thus, you can plan your overall finances better.”

As a rule, never buy anything that is not in the budget, except it is a life=threatening expense. Everything you spend must be well budgeted for, even to the minutest detail.


The rich pay themselves first, and they do so into savings to accumulate for future investment. And please note, you don’t have to save if the available funds can buy you an investment package, and even when you save, save for the short term. One of the things that can keep us from achieving our wealthy status is the inability to keep the money. We keep on postponing our savings until the day we feel we have earned more than we can spend. Moreover, it is because of this wrong attitude that slows down our financial growth, delaying our wealth creation.

Come to think of what Raj Khosla, the founder and managing director of MyMoneyMantra.com, actually says, “Saving and investing early unlocks the magic of compounding interest and also build long-term securities”.

Little amount consistently put aside on a daily, weekly, or monthly basis over the years will accumulate into a reasonable amount that can be invested.

Savings You Do Should Be Based on Your investment goals. Goal-based savings is what you should do not just saving randomly, but saving to achieve a particular goal. This is because if you continue to save but not on a goal basis, you are likely to lose it every time.

 It is not good enough to invest your actual earnings. Investing with a budget, investing with a specific goal in mind is what enhances and promotes the effectiveness of your good investments. Take note of this “While saving your money, you will need to see beyond just the returns and feedbacks. The investments themselves will need to work hand in hand with your set aside goals and needs.

You will also always need to keep in mind the tax efficiencies, the profile of risks, your regular income need, etc”.

Have More Than One Income Stream

The more you diversify your income streams, the less anxious you will be about losing your primary job. This is a key to minimizing the risk of losing too much money.

This is especially helpful during a crisis like the economic crisis we are currently facing in our country today. But in truth, having multiple income streams can always be beneficial.

The two major types of income you need to know are active income and passive income. Active income is when you are actively engaged in some kind of work to make money. Passive income is when you earn money without having to do much (or any) additional work.

Your primary job is an active income stream, and if you work a second job or a side hustle like a work-from-home business, that is also an active income stream.

On the other hand, investing in an income-generating platform like our Stainerz Prime Fund is a form of passive income. Your money earns money without your having to work for the returns from your investment.

Another form of passive income involves renting out real estate properties that you own. At least, as long as you don’t have to spend too much time on maintenance or servicing your properties.

The more income you earn and the faster you generate it, the more time your money will have to compound and earn a return. So, start thinking about how you can add to your current income streams today.

Practice Patience!

As an investor, once the financial goals, risk tolerance, time frame, and investment options are identified, must stay invested till their goals are achieved. Market volatility must not deter an investor from achieving his/her goals. Certain investments are made from a long-term perspective and being patient and calm will definitely help in attaining the desired results. Investments teach a person a very important quality that will help them in every walk of life – Patience.

Never hoping on borrows or loans

 Not relying on loans is a major key that will help enrich your wealth creation. Money has a very strong and massive effect on our happiness by letting you know and ensuring you that you can have whatever it is you may ever want in life which if you don’t have you lead to relying on loans every now and then.

 Moreover, the existence of newly developed online lending platforms and site which they also come with a strong influence that they reduce lending rates has brought so many people to start borrowing in order to solve their problem and meet their ends.

Well, this may be of good help, but at the same time after helping you literally, it may definitely also cause you to also lose your earnings in the state of giving them back their interest when doing your repayments. There is bad debt and there is good debt. The difference is in what you used it for. If the loan was used to fund an asset the brings you returns, then it is good. As much as possible, avoid borrowing money to acquire luxuries. It is the easiest way to have a miserable financial future.

In conclusion, if you really want to achieve lasting wealth, you must be willing to start changing your habits today. No change will happen on its own except you take responsibility for your financial future.

If you need professional help with your personal or business finance, or you want to invest in one of our subsidiaries, you may contact our helpline on 09090690690

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