20 Habits Of People Who Always Have Money in Their Account

Learn how to always have money with simple steps to build wealth, save consistently, spend wisely, & grow financial security—without feeling deprived!

Person working on their finances on the computer.

If you’re trying to figure out how to always have money in your account, then I promise you, it’s not impossible.

There are SO many people who have formed incredible money saving habits and reached their financial goals too! These people have figured out how to always have money in their wallet, bank, and retirement fund.

They chose to make a plan and stick it.

And if this is something you feel you struggle with, then I think you’ll find the tips on financial habits down below very helpful!

These are small and big changes that’ll help you save money right away and in the long term as well.

20 Habits of People With Money

 

1. They Set Achievable Goals

A person setting their financial goals.
PHOTO: TAY ARMSTRONG/DUPE

Contrary to what many people think, rich people don’t get rich by chance.

Many of them build their wealth. And even people who aren’t rich, but never fall short of money, walk into this kind of life by planning.

They have well-established monthly and yearly goals for their savings (as well as income) and set milestones and deadlines to achieve them.

And to reach these goals, they’re on the hunt for cutting out expenses in any way they can, looking for opportunities to increase income, taking financial advice from experts like Dave Ramsey, and celebrating their achievements (once they reach a financial goal).

So definitely take some time to write down what you want your goals to be and where you want to see yourself in a year from now.

And finally, make sure they’re realistic.

Most of us want to be millionaires, but setting a target of $1,000,000 right away might discourage you. So instead, set goals that are achievable. Even something like setting aside $10 a week for the next month is better than nothing.

 

2. They Prioritize Their Goals

If you’re wondering how other people have money when you’re struggling financially, then this is a big one.

After getting clear about their goals, they determine which ones are more important. They don’t try to go after all their goals at once – this is a great way to get discouraged.

Instead, they accomplish them in order of importance. They prioritize each activity so that the most important things get done and don’t get left behind.

Think of it this way. Instead of keeping busy with tasks, you’re being productive by acting on things that are going to…

  • Lower your payments the most.
  • Give you the most income.
  • And cut the biggest costs.

That way you won’t be running after your goals for years on end and always having them be out of reach.

3. They Follow a Budget

People who always have money follow a budget. They have a plan on how much they’ll spend and which bills they need to pay and when.

They constantly have money because they’re tracking their spending and following through on meeting their monthly budget.

And if you wanna get better at managing your money, then you need to make your own budget and start comparing your income to your expenses. Then set up your spending priorities and stick to it so you’re not living paycheck-to-paycheck.

4. They Have an Emergency Fund

People who are financially responsible have funds put away for emergencies.

This helps them make sure that they’ll never panic about the unexpected happening and go into debt.

So for instance, a trip to the hospital, car problems, or a death in the family on the other side of the country.

Normally you’ll want to start off with getting to a $1000 emergency fund as quickly as possible. And that means sticking to the budget mentioned above and cutting out as much unnecessary spending as possible. But eventually you’ll wanna save for 3 and then 6 months of living expenses in case something big happens like being let go from a job.

 

5. Monthly Budget Review

Person doing a financial review.
PHOTO: GAIL VILLAHERMOSA/DUPE

Becoming financially aware and independent requires a lot of work, and as such, it’s recommended to review your budget monthly.

By performing a monthly budget review, you can see month to month changes and your successes.

And then you’ll be able to make changes when necessary so you can maximise savings and cut down on anything you realize you don’t really need right now.

6. They Adopt a 24-Hour Rule

Instead of buying something nice the second they see it, a money-smart person will walk away for at least 24 hours.

This can help them avoid impulse purchases.

And if they still want the item the next day, then they consider their budget and whether it is affordable. But, if the novelty has worn off, then they can simply leave it knowing they didn’t waste their money.

7. Underconsumption

You don’t need to keep up with the latest trends, no matter how appealing they might be.

By living within your means, and practicing underconsumption, you’ll always have money on hand. This will also help you in avoiding the debt trap.

Trending items and fashion are always changing, but a healthy approach to money is for life.

8. They Have an Excellence Mindset

If you finding yourself repeatedly thinking, “How do some people have so much money?” Then you need to pay attention to this financial habit.

The Japanese have a saying called “Ganbarimasu” which means “Do your best!”

When my husband and I lived in Japan, we  saw “ganbarimasu” EVERYWHERE.

Their service was always excellent (and always done with an incredible attitude), and so many things ran on time. They were a culture of excellence.

And people who always have money focus on doing their best when it comes to work. When you put in the extra work, but also make sure it’s high quality, you’re probably going to start seeing major improvements in your income.

 

9. Pay Off Balances in Full

You’ll never be able to accumulate wealth if you continue to pay high interest rates on your balances.

So start by paying off debts with the highest interest first by making extra payments so that you can move onto your less urgent loans.

And think of it this way: If you wanna free yourself from this burden as soon as possible, you need to be making sacrifices now so that you can be free so much sooner.

10. They’re Always Learning

A person learning about money.
PHOTO: JOELLE & LYNDON BRADFIELD/DUPE

I am not promoting the book in the image; I have not personally read it. It is an image that I chose to help support this point.


People who always have money know that they should never stop learning. They know that they must be constantly looking for new ideas and expanding their knowledge. 

They’re listening to and reading things like

  • Books that challenge the way they think about investments, saving money, and paying off debt.
  • Podcast interviews of couples who retired in their 30s (yep, that’s a thing).
  • People’s stories and strategies on how they got out of debt in quickly.
  • Taking a financial education course like Financial Peace University.

The more knowledge they can pull from successful people, the more likely they are to BECOME successful.

11. Set Up Automatic Transfers

Once you’ve figured out what expenses you can cut, you’re going to have more money that’s available.

But before you start spending your paychecks on things you don’t need, set aside a fixed amount to be placed directly into your savings account whenever you get paid.

You can easily set up automatic transfers within your bank to start building your wealth. And it really is a great technique that’ll help you accumulate money without much effort and help you reach your goals so much faster.

 

12. They Don’t Forget Their Financial Goals

Remember this, don’t let your feelings drive the car when it comes to money.

Your feelings can be in the passenger or backseat, but never the one behind the wheel.

And when it comes to making purchases, big and small, you need to put your reason in the drivers seat.

Make sure you are keeping your goals in mind when you’re about to purchase something.

Make financial freedom more important than the wants and desires that pop up in life.

13. They Keep the Mindset That Every Penny Counts

Always practice budgeting and teach your family to make every penny count.

Frugal people are always thinking about whether their money will increase in the next ten to twenty years, so they prioritize their budget, try to rely on less than they make, and save, save, save.

14. Know What Days to Shop

Always find the best price for the most expensive goods at certain times of the week.

It is believed that retailers tend to give discounts early in the week and shopping at this time is a very good saving strategy that many frugal people actually use. 

15. They Have Different Bank Accounts

A person working on their finances on their computer.
PHOTO: MARTHA BERNALDEZ/DUPE

These people also have different bank accounts so that they can keep their savings in a place that’s not as easy to reach.

It’s honestly such a simple but awesome money saving idea!

16. They’re Buying Used

To live cheaply, you’ll need to buy used items that are in good condition as much as possible.

That way you can easily save money, but still get exactly what you want.

Trust me, people aren’t going to notice if you have a home appliance that’s a couple of years old, and if they do, they probably won’t care.

So start shopping at thrift or consignment stores, compare the prices, and save that money!

 

17. They Find New Income Streams

Rather than staying content with their current income, people who are never broke look for any opportunity to maximize their income.

Whether this involves a part-time job, selling off old items, or even pushing for a pay raise, these can all help you in having more money in your account.

18. They Avoid Credit Cards

If you’re someone who struggles with overspending, then one of the first steps you can take towards financial freedom is to cut them up…  immediately.

And keeping credit cards around for emergencies will only help you go into even more debt, which is why you want to have an emergency fund already in place.

So instead of having credit cards in your wallet, take some cash out in the morning and use that as your daily allowance. When it’s gone, it’s gone, and this’ll help you to be more mindful of your spending.

19. Make Your Meals at Home

A person budgeting and eating at home.
PHOTO: JAYDA ANDERSON/DUPE

People who live cheaply rarely go to restaurants because they’d rather cook their healthy meals at home and save money for other things.

And eating outside has been found to be one of the main sources of excessive spending, so treat it as more of a special occasion rather than the norm.

Also, it really is an easy expense to cut and will help you meet your budgeting goals.

20. Maintain Your Property

If you’re keeping your home properly maintained, you’ll save a lot of money and avoid paying for costly repairs because things weren’t being looked after.

The same can also be said for your cars and appliances.

So make sure you’re being mindful to check for fixes that need to be made and taking care of them right away before they get worse.

 

Chasing Foxes was started in 2016 as a way for Grace and her husband, Silas, to start traveling. However, they started to realize that they had a passion for improving themselves, and wanted to help others level up their lives as well. So whether it's with cooking, travel, or staying healthy, they want to help you better your life bit by bit, as they do the same.

2 thoughts on “20 Habits Of People Who Always Have Money in Their Account”

  1. Great article two of the things listed here that i have used where setting goals and doing budgets. I’m amazed at the power of setting goals and budgets. There are studies on people who make goals and often the accomplish a lot in live because they have clarity. I can testify to this article being great practical information because when i set goals and set monthly budgets my financial life improved and all my friends and family noticed it. My suggestion is to set goals or learn how to set goals because this will truly make a difference in your life.

    Reply

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