As a life and money management coach, over the years I have noticed some very interesting things about wealthy people. They were disciplined and determined enough to do all the right things that enabled them to accumulate their wealth and, in many cases, retire early.

Financially responsible and successful people don’t build their wealth by accident — or overnight. Becoming rich takes serious willpower and long-term vision. You have to be able to keep your eye on the prize of financial freedom, be willing to sacrifice your present wants for the sake of your future and develop good habits to win. Here are 3 habits you can start putting into practice now.

Begin early

The sooner you put your money to work, the more time it has to grow. If you’re fortunate enough to get a job with a company that offers a matching contribution to their retirement plan, you need to make it a priority to enroll in the plan as soon as you are eligible. It can be the difference between retiring early and never retiring.
Think about this: If you invested $10,000 and left it to grow for 40 years, assuming an average return per year of 8%, you would end up with over $217,000. But if you waited 10 years and invested $20,000 — twice as much — you would only end up with just over $200,000.

Whatever your situation might be, saving and investing money today is better than waiting until tomorrow. Start now.

Automate

You can be your own worst enemy when it comes to financial success. It’s all too easy to procrastinate and neglect what needs to be done and, meanwhile, give in to temptation and spend more than you should. It’s the perfect recipe for not becoming rich.

The best way to protect yourself from yourself is to automate your savings. That means setting up recurring transfers on a regular basis from your checking account to your savings and investment accounts (or setting up auto deduction from your paycheck to your employer-sponsored retirement plan). This way, you force yourself to avoid bad money habits and save what you would likely otherwise spend. If you haven’t already, set aside 15 minutes on your calendar now to do it. Not later, now. Your rich future self will thank you.

Avoid carrying credit card balances
Revolving, high-interest debt is one of the biggest threats to your financial freedom. It can seriously drag you down, costing you thousands in unnecessary fees and interest charges — and prevent you from saving more. If you ever want to be rich, you have to ditch the bad habit of carrying credit card balances, along with the minimum payment mentality.

Instead, you need to learn how to use credit wisely, rather than as a crutch, and commit to paying off your balances in full each month. Smart credit card holders know and practice the tricks to maximize rewards, points, discounts and monthly cash flow without getting in over their head. Of course, living within your means is key to your success.

Until next time, make this a week one in which you are living your life to the fullest.
With appreciation and gratitude
Nigel St.Hill

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Author's Bio: 

Nigel St. Hill is a writer and a life and money management coach helping people who are ready to discover their path to money, abundance and prosperity, so that they could live the life of their dreams. He is the founder of http://www.moneyandabundance.com and author of the book, Money Management Caribbean Style and several ebooks including The Easy Cash Flow System, How to Keep Your Doors Open in a Recession, Creative But Practical Ways to Save money, 8 Simple Ways to Live a Healthy Abundant Lifestyle,12 Secrets to Having a Romantic Relationship, Ten Easy Ways to Empowerment, How to Attract Money and Abundance, Uncover Your True Potential The Complete Guide to Life Skills for Today’s Youth and 7 Steps To Becoming An Empowered Single Woman(NEW)

https://www.amazon.com/author/nigelsthill .