21 Habits of People Who Always Have Money - women holding cash
21 Habits of People Who Always Have Money – women holding cash

Have you often wondered, “Why am I broke?” when other people you know, always seem to have money? If you are often asking yourself this question, perhaps it is time to look at your money habits. You can then swap out some of your bad money habits for the habits of people who have money.

People that always have money have systems in place to keep it that way and you can too. This post will outline 21 habits of people who have the money you can adopt and start building wealth.


Let’s take a look at the 17 best habits of people who have the money you can copy to be rich too

#1 They Set Money Goals

If you want to have money, setting money goals and visiting your goals often is a good habit to get into.

Start by setting some short-term goals and create a plan for your monthly bills and savings.

Then look at long-term goals. Where do you want to be financially one year from now and then five years from now?

Write these goals down and post them where you can see them so you remember what you are working towards.

Related: How to Set S.M.A.R.T. Goals and Stick to Them

#2 They Have a Positive Mindset About Money

We often learn our money mindset from our parents. We see and hear how they interact with money and we pick up on it as a child. We will often remember parents telling us we can’t have things because they don’t have enough money.

Do you have a positive money mindset or a scarcity mindset? Ask yourself if you frequently say, ” We can’t afford that.” or “I don’t have any money.” If you are saying these things over and over, you have trained your brain to continue thinking in scarcity.

Try some positive money affirmations and start saying, “Money flows to me freely and easily,” Learn to see money as a tool and not as a hindrance. Have a growth  mindset about money and say, “We can’t afford that yet, but we will be able to buy it soon.”

Related: Money Mindset  Affirmations

#3 They Know How to Budget

Learning how to budget is a skill that will help you throughout your life. Try not to look at budgeting as a daunting task. Instead, look at it as telling your money where you want it to go.

Start by tracking your spending. Take a look at areas of overspending and try to find areas you can cut. Make sure you have enough coming in to cover bills and then use your extra money to fund your emergency fund and savings account.

Create some budget categories such as housing/rent, food, transportation, clothing, utilities, and fun money. Uses these as a guide to determine how much you can afford and make sure you are paying the big expenses such as housing, utilities, and food. Take a look at other areas of spending such as gym memberships, cable television, and subscriptions. See if you can cut any of these areas to start paying down debt and saving more.

Related: Learn How to Budget and Pick the Best Budget for You

Grab your budget freebies here:


#4 They Are Frugal

Learning to be frugal can help you save money throughout your life. Often people mix up being frugal with being cheap. Frugal is a state of mind. As a frugal person, I don’t believe in paying more than I need to, but I also will pay extra for quality over quantity. I coupon and try not to overspend unless it is something I value and is of importance to me and my family. For example, we like to travel, but we try to save money by not eating out or using coupons for groceries. In this way, we can use our extra money for things we value and we really don’t feel deprived.

If you can learn to be frugal in most areas of your life, you will save so much over your lifetime and also remain out of debt. In turn, you can build wealth by investing your extra money.

Related: 75 Frugal Living Tips That Are Surprisingly Easy

#5 They Don’t Participate in Lifestyle Creep

You may be asking, “What is lifestyle creep?” Lifestyle creep is a term for when you get a raise or earn more, but you decide to buy a bigger house, car, or the like. In this way, you never really get ahead because as you make more, your bills go up.  If you get a raise, it will help to remain at your current standard of living so you can pay off debt and start building savings. If you continue to remain frugal even though you earn more, you have the potential to earn on the money saved by investing.

#6 They Automate Finances

Making your savings automatic is also a good money habit to learn. You can set this up with your HR department if you are able to do direct deposit. You can then have the money go into separate accounts for bills and savings and will set this up with your bank. I also use to have my employer take out money from each check to go directly into a 403b. Find out if this is offered at your job, and if not set up a ROTH IRA to start saving for your retirement. Set up an automatic payment from your bank each month so you don’t have to think about it.

#7 The Use a High Yield Savings Account

The interest rates most banks offer are peanuts and don’t make much difference. Yet, many online banks offer higher interest rates and can help you build up your saving. One bank I recommend to my readers is CIT Bank. It is FDIC insured and offers a way higher interest rate than the national average. You can read my review in the post below.

Related: CIT Bank Review and Offers

#8 They Save for an Emergency

Having an emergency fund in place can help you prepare for unexpected expenses that can set you into debt if you don’t have a plan. I suggest saving six to nine months’ worth of bills to cover you in case of job loss.

You never know what life is going to throw at you and having an extra cushion in these situations will help you feel less stress over your finances.

Related: How to Save for an Emergency Fund

#9 They Invest Early

Start investing as early as you can so you can take advantage of compound interest. You can learn to invest by starting small with apps such as Acorns or M1 Finance. As you feel more comfortable, you can add more as you grow or open up a different account with bigger firms such as Fidelity.

#10 They Learn How to Cook

Cooking at home can save you so much money. You can learn to cook and meal plan so you don’t waste money on eating out every night. Think about it… If you don’t plan your food, you will not have needed ingredients and be more tempted to go out to eat or order carry out, which will hurt your wallet after time.

Related: $75 Budget-Friendly Meal Plan

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21 Habits of People Who Always Have Money - Women holding money, sitting at desk.
21 Habits of People Who Always Have Money – Women holding money, sitting at a desk.


Ready to take your savings up a notch? Sign up for the free 6-day money savings challenge email course:

#11 They Know How to Shop

If you are planning on making a bigger purchase, shop around and do your research. Also, shop sales cycles for your everyday food and household items. Learn how to shop frugally so you don’t waste money.

Related: How to Cut Your Grocery Bill

#12 They Read Money Books

People who always have money educate themselves. Try grabbing some personal finance books from your library to help you get started. I make it a rule of thumb to always have a book to read. If you don’t like going to the library, you can get cheap books on Kindle or sign up for a free trial of Kindle unlimited.

Related: 7 Best Personal Finance Books to Read Today

#13 They Side Hustle

If you want to always have money, find different ways to earn money. You can find a side hustle or start a passive income stream. The bottom line is, people who always have money have more than one way to make money. Some ideas are starting a blog, learning how to proofread from home, or teaching online.

Related: 75 Side Hustles: The Ultimate List to Earn More

7 Online Business Ideas to Start From Home

#14 They Live Debt-Free

Paying interest is a huge waste of money. If you are in debt, find a plan you can stick with and pay it off as soon as possible. Try Dave Ramsey’s Debt Snow Ball method and start by paying off your smallest debts first to feel a sense of accomplishment. Then continue paying off larger debts until you are done. Once you pay off your debt, cut up your cards and pay cash.

Related: 6 Habits of Debt-Free People You Should Copy

#15 Buys Used Cars and Keep Them Until They Die

Buying a used car will save you thousands. Remember, you don’t always need the latest and greatest vehicle. Take care of your car and schedule required maintenance so your car will last. Pay off your car and drive it for as long as you can with no car payment. You can even lower the insurance depending on what you are comfortable with.

#16 They Only Keep Up With Themselves (Not the Joneses)

Trying to keep up with your friends and neighbors is exhausting and a financial drain. Try to learn to be happy for others’ success and remember if they are buying new items often, they may be in debt themselves Things are not always what they seem looking in from the outside. Just try to be the best version of yourself every day and don’t worry about all the “stuff” in life.

#17 They Take Advantage of Employee Offerings

Make an appointment with your HR department and see what type of benefits you can take advantage of. Many employers match a portion of your retirement contributions and this is free money so it pays to take advantage of it.

#18 They  Exercise

Remember to exercise and take care of your health if you want to have money. Doctors’ bills and dentist bills are expensive. You can combat this by exercising daily and taking care of your health and your teeth. Also, time is money. If you are spending a lot of time with the doctors, you could have been using that time to make extra money.

#19 The Surround Themselves With Other People That Have Money

We are a combination of the five people we surround ourselves with the most. Therefore, make them good people and people you can learn and grow from.

#20 They Are Thinkers

Spend some time brainstorming ideas each day. Think about how you can earn more and turn your finances around.

#21 They Save for the Future

Make a plan to save for your future. Plan ahead and save for you children’s college fund or trade school. Also, save for your own retirement so you can eventually retire and enjoy your hard work.

21 Habits of People Who Have Money Final Thoughts…

If you are often feeling broke and can’t seem to find extra money, start adopting these habits and learn to turn your money situation around. It can be done, but don’t feel overwhelmed and think you have to do all 21 today. Pick one or two and start this week. I would begin with a budget and start paying down debt. Then add a side hustle and continue to add each habit until you have created a successful money plan that works for you and your family.

Related: 9 Epic Advantages of Using a Budget

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Habits of People That Have Money

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