There are simple habits of millionaires, according to experts, that you can do now, and that can help transform your finances.

There are simple habits of millionaires, according to experts, that you can do now to help transform your finances. If you’ve been in the hole financially, then the idea of becoming a millionaire might seem out of reach. But, you can certainly learn from millionaires, and they can help you reach your financial goals. You really don’t have anything to lose by adopting these easy, simple habits of millionaires, so get ready to learn about what behaviors to change and cashing in.

Simple Habits of Millionaires from Financial Experts

Before we get to those simple habits of millionaires that you can do now, let’s look at some facts about millionaires. According to the Global Wealth Report 2023 by Credit Suisse, there were around 59.4 million millionaires in the world in 2022, a number that was down by about 3.5 million over the course of the year. What’s really wild is that most adults in the world were making less than $10,000 a year in 2022, according to the report, coming in at around 53% of all adults in the world. Adults making between $10,000 and $100,000 increased the most, so far, this century, as they more than tripled from 503 million in 2000 to 1.8 billion in 2022. Their average annual income was about $33,573, which accounts for around 40% of the global average wealth.

So, what about billionaires? According to, “There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021.” They added, “They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021.” The No. 1 richest person in the world surprised me, and it may surprise you, too. According to Forbes, it’s Bernard Arnault & family, with a net worth of $233 Billion. They’re in France, and their industry is fashion and retail. “Bernard Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.” I had no idea that when I shopped at Sephora, I was helping out the richest man in the world. Coming in at No. 2 is Elon Musk, who’s worth around $195 billion. He lives in the United States. “Elon Musk cofounded six companies, including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company,” Forbes states. Finally, No. 3 on the tally is Jeff Bezos, who’s net worth is $194 billion. He founded e-commerce website Amazon in 1994. Now, let’s get into some simple habits of millionaires that you can do now, according to financial experts interviewed by, and more.

Habits of Millionaires That You Can Do Now:

  • They Buy Their Cars (Instead of Leasing) and Keep Them As Long As Possible

    Cars lose their value quickly. That’s why buying a used car is usually much less expensive than a new car. The second that car is off the lot, it’s considered used and drops in value thousands, even with just another mile on the car. That said, according to, wealthy people buy, don’t lease, their cars and keep them long-term. That way, they can save money between car purchases.

    They Buy Their Cars and Keep Them

    They Buy Their Cars and Keep Them

  • They Delay the Pleasure of Having the Finer Things in Life

    According to, “Millionaires spend most of their lives sacrificing temporary pleasures for long-term success. They have no problem buying an older used car, living in a modest neighborhood, and wearing inexpensive clothes. They don’t care about keeping up with the Joneses.” So, instead of picking up all the hot, expensive new stuff, wait it out.

    A couple buying jewelry.

    They Delay Pleasure

  • They Educate Themselves on Money

    If you’re a newbie to financial planning, listen to some podcasts on the subject or find a helpful book. says, “knowing how to become a millionaire isn’t innate, even for most wealthy people.” Research from certified financial planner and CPA Tom Corley shows that “63 percent of wealthy people listen to audio books during their commute to work versus 5 percent of poor people,” says

    A man reading a book about money.

    They Educate Themselves on Money

  • They Network and Meet New People

    In the same story, Corley says that networking is huge when it comes to becoming a millionaire. “On his Rich Habits blog, Corley revealed 79 percent of wealthy individuals network at least five hours per month, compared with only 16 percent of poor people,” they explain. So, get out there, and meet new people who could make up your network.

    A man networking at an event.

    They Network

  • They Live Below, Not Within or Above, Their Means

    Millionaires are frugal. They don’t splurge like you might expect. According to’s The National Study of Millionaires, nearly half of millionaires in their poll said they save at least 16% of their monthly income. They often use it for an emergency fund or liquid cash.

    A Piggy Bank.

    They Live Below Their Means

  • They Make Use of Their Money By Investing’s Select asked Faron Daugs, certified financial planner, founder and CEO at Harrison Wallace Financial Group, “about the financial habits his wealthiest clients all share that could apply to the average person.” One big thing he mentioned was building up emergency funds and then investing. “Daugs says his clients have organized investment plans, whether its in stocks, bonds or exchange-traded funds (ETFs),” CNBC explains. He also recommends having a “monthly or bi-monthly automatic transfer of cash from your checking account into an investment account.”

    Stocks and bonds.

    They Invest

  • They Invest in Particular Things

    According to, the wealthy “invest in stocks, real estate, and their own businesses.” They add that, “Millionaires put their money into appreciating assets (assets that can grow in value).” Also, “people with net worths of $1 million or higher tend to have more of their money” in stocks and mutual funds; real estate; and business interests.

    A couple investing.

    They Invest in Specific Things

  • They Look at the Bright Side

    Whatever your financial situation, look at the bright side. Look for opportunities for working with what you have and growing your nest egg. Reach out to experts in the financial field if you’re really stumped and see how they can make your financial dreams come true.

    A happy couple with moving boxes.

    They Stay Positive

  • Don't Give Up

    Wherever you are on your financial journey, don’t give up. It can be temping to just throw everything to the wind, but if you take a more level-headed approach, you’ll have a better chance of coming out successful. Good luck on your financial journey. 

    A happy couple on the computer.

    They Keep Trying

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