Want To Build Wealth That Lasts? Start With These 15 Habits That Actually Work
Many people think wealth comes from a big break or landing a six-figure job. But those who have built true wealth know it’s about something much deeper. In “The Millionaire Mind,” Thomas J. Stanley dives into the psychology of millionaires, uncovering the habits and smart decisions that quietly shape their success. Want to know what sets them apart? Here’s a look at the financial habits that can help you build wealth over time.
Make money easier. Sign up for The Penny Hoarder’s newsletter today.
1. Solve Everyday Problems Smartly
Success doesn’t always follow degrees. Instead, it follows those who think independently and solve real problems. That’s how many people build wealth. Start sharpening practical skills. Learn to make smart decisions quickly, adjust when needed, and apply knowledge where it actually makes a difference.
More From The Penny Hoarder: 22 Legit Games That Pay Real Money (2025)
2. Choose A Partner Who Shares Your Goals
Money habits are easier to follow when your partner’s on board. Many wealthy individuals share their financial goals with someone who respects discipline. If you’re building with someone, talk openly about money. Align your values so your financial future stays steady and free of friction
More From The Penny Hoarder: 31 Ways to Make Money Online & From Home in 2025
3. Spend Less Than You Make
Wealth usually shows up modestly. In fact, many financially successful people live modestly and choose value over flash. Instead of upgrading everything, hold back and invest the difference. Focus on purchases that build your future, not just your image. Quiet financial moves often go the farthest.
More From The Penny Hoarder: Our Picks for The Best Savings Accounts for This Month
4. Take Risks You Understand
Growth doesn’t come from avoiding risk; it comes from managing it well. Those who build wealth prepare before they act. If something feels risky, take time to understand it. Do your research, weigh the consequences, and move forward only when the reward makes the risk worth it.
More From The Penny Hoarder: Our Picks for The Best Budget Apps for Couples
5. Keep Lifestyle Below Income
Increased income should lead to smarter financial decisions rather than higher spending. Many people build wealth by keeping expenses steady while income grows. That difference adds up. With a growing paycheck, you have the opportunity to resist the urge for upgrades and put the extra toward paying off debt or making quiet, consistent investments.
More From The Penny Hoarder: Free Baby Stuff for Expecting Mothers in 2025 (38 Freebies & Deals!)
6. Build Something Of Your Own
Earning a steady salary provides stability, but ownership offers control. Many self-made millionaires found success by building something of their own. If the idea of independence speaks to you, start exploring small ways to create value. You don’t need to quit; simply start where your skills meet demand.
More From The Penny Hoarder: Is Solitaire Cash Legit?
7. Learn About Finance Early
How people handle money as adults often links back to lessons they absorbed early in life. Wealthy individuals learn discipline early, sometimes without realizing it. Think about how you first handled money. If those patterns still drive your choices today, adjust the ones holding you back and pass stronger habits to the next generation.
More From The Penny Hoarder: Here’s How to Start Saving Money — Even If You Don’t Have Room in Your Budget
8. Protect And Prioritize Your Time
Time is a valuable resource, often even harder to replace than money. That’s why wealth-minded individuals guard it carefully. Take a close look at how you spend your time each day. Eliminate what drains you, automate what’s possible, and focus your energy on decisions that add value rather than contributing to the noise.
More From The Penny Hoarder: Everything You Need To Know About Debt
9. Choose Quality Over Quantity
More usually adds clutter, not value. Wealth-minded individuals focus on choices that last and serve a purpose. This mindset protects both time and money. Begin filtering every choice for long-term worth. Whether it’s a product or a partnership, fewer thoughtful decisions often bring stronger results.
More From The Penny Hoarder: 6 Free Budgeting Templates To Help You Save In 2025
10. Keep Learning And Growing
Millionaires never stop learning because continuous growth keeps them competitive. They seek out new ideas and apply what works. Over time, they adjust their approach as needed. That’s why education should be treated as a long-term asset—one that sharpens decision-making with every new insight.
More From The Penny Hoarder: The Top 0% Interest APR Credit Cards in 2025
11. Grow Relationships That Open Doors
Connections matter, but not just any kind. Wealthy individuals build relationships that offer trust and mutual value. In the long run, those networks lead to real opportunities. So, focus less on collecting contacts and more on nurturing conversations that spark ideas, open doors, and create something greater than yourself.
More From The Penny Hoarder: If You Have More Than $1,000 in Your Checking Account, Make These Money Moves
12. Plan Ahead For What You Leave Behind
Wealth without a plan can quickly turn into confusion. This explains why millionaires map out what happens next. When assets are unprotected, families face stress and avoidable loss. Start early, even if things feel simple. Planning ahead protects your legacy and brings peace to those you leave behind.
More From The Penny Hoarder: The 6 Best No Annual Fee Credit Cards of 2025
13. Avoid Debt That Drains You
Debt has a way of pulling money and control away from your goals. Most millionaires avoid it unless it leads to real growth. If payments are stealing your momentum, take a step back. Focus on eliminating the burden and making room for smarter financial moves.
More From The Penny Hoarder: The Dumbest Things We Keep Spending Too Much Money On
14. Practice Daily Discipline
Wealth isn’t built on impulse. It grows through consistency. People who build lasting wealth train themselves to pause before acting because long-term success depends on thoughtful choices. Over time, they grow wiser at choosing long-term value over short-term temptation. Practice discipline so your habits support progress, not quick satisfaction.
More From The Penny Hoarder: Free Baby Stuff for Expecting Mothers in 2025 (38 Freebies & Deals!)
15. Adjust When Things Change
Markets change, goals shift, and plans don’t always go as expected. That’s why adaptability is more important than perfection. Successful millionaires know when it’s time to pivot. Instead of holding on to outdated strategies, they regularly assess their plans and make adjustments early—ensuring they stay ahead before circumstances limit their options.
More From The Penny Hoarder:17 Make-Your-Own-Schedule Jobs You Can Do From Home
More From The Penny Hoarder:
- Best Cash Back Rewards Credit Cards to Earn Money While You Spend in 2025
- 50 Easy Ways You Could Make Extra Money This Month
- 8 Ways Savvy Shoppers Are Outsmarting Inflation at the Grocery Store
- How to Pay off Credit Card Debt in 2025
