7 habits of people who build wealth in a slow, stress-free way

Building wealth. It’s a topic that’s been the focus of countless books, seminars, and late-night infomercials.

And let’s be honest here, who doesn’t dream of having a fat bank account and financial freedom?

Now, you might think that amassing wealth involves stress-filled days, sleepless nights, and an incessant hustle.

However, there is a set of people who have mastered the art of growing their wealth in a slow and stress-free way (yes, you read that right!).

Don’t believe me?

Well, I invite you to stick around as we dive into the seven habits of people who have done just that. They’ve managed to build wealth without losing their minds in the process.

Are you ready to break free from the belief that building wealth has to be a high-stress, fast-paced endeavor? If so, keep reading as we break down these habits one by one.

Believe it or not, slow and steady can indeed win the race.

So let’s get started on this journey towards understanding how you too can cultivate these habits for a slow, stress-free path to building wealth.

1) They spend less than they earn

This might sound like a no-brainer. But you’d be surprised at how many people live paycheck to paycheck, with no savings to speak of.

Wealth builders, on the other hand, understand the power of living below their means. They don’t splurge on the latest gadgets or designer clothes just because they have the money. Instead, they prioritize saving and investing.

Let me paint you a picture here.

Imagine you earn $5,000 a month. You decide to save 20%, which is $1,000, and live off the remaining $4,000. It might mean fewer dinners out or not upgrading your phone every year, but the trade-off is growing your wealth over time.

And the best part?

This approach is not only stress-free (as you’re not constantly worrying about money), but also sustainable in the long run. After all, it’s not about how much money you make; it’s about how much you keep!

2) They invest in themselves

Now this is a habit that I can personally vouch for.

A few years ago, I found myself stuck in a job that paid the bills but didn’t offer much room for growth. It was comfortable, but I knew I wanted more.

So, what did I do?

I decided to invest in myself. I took evening classes to improve my skills, attended seminars relevant to my field, and even hired a career coach.

And guess what?

This investment paid off big time! My enhanced skills and knowledge led to better job opportunities, which ultimately resulted in a significant increase in my income.

But investing in yourself isn’t just about career advancement. It could be anything from learning how to cook to save on dining out, to understanding how to invest in the stock market.

Knowledge is power. And when applied correctly, it can lead to wealth. The more you learn, the more you earn. It’s as simple as that.

3) They embrace failure

Failure. It’s a word we all dread. But here’s the thing – failure isn’t just part of life, it’s a crucial part of building wealth.

Let me share something with you.

I’ve failed. More than once. I’ve made investments that went bust, started ventures that flopped, and made financial decisions that, in hindsight, were anything but wise.

But each failure was a lesson. Each mistake is a stepping stone towards better understanding and smarter decision-making.

People who build wealth slowly and stress-free know this. They don’t see failure as a pitfall but as a learning opportunity. Every setback is a set-up for a comeback.

They understand that failure is not the opposite of success; it’s part of it. So they take calculated risks, learn from their missteps, and keep going.

Because at the end of the day, the only real failure in life is the failure to try.

4) They patiently play the long game

In a world obsessed with instant gratification, patience is a virtue that seems to be in short supply.

But here’s what I’ve observed in people who build wealth in a slow, stress-free way: they’re remarkably patient. They understand that wealth isn’t built overnight, and they’re okay with that.

They don’t chase after the latest get-rich-quick scheme or invest in volatile markets hoping to make a quick buck. Instead, they focus on steady, consistent growth.

For instance, they might choose to invest in a diversified portfolio of stocks, bonds, and real estate, knowing that while the returns might not be immediate, they’ll compound over time.

It’s like planting a tree. At first, it seems like nothing is happening. But given time and care, it grows into something substantial.

In the end, it’s not about the quick wins. It’s about the slow and steady progress towards financial freedom. They know this, and it’s one of their secret weapons in building wealth stress-free.

5) They don’t shun frugality

Here’s something that might surprise you.

Many self-made millionaires live surprisingly frugal lives. You won’t find them flaunting designer brands or driving flashy cars. Instead, they focus on accumulating wealth, not displaying it.

This idea is explored in depth in the book The Millionaire Next Door by Thomas J. Stanley and William D. Danko, which reveals that most millionaires prioritize financial independence over outward appearances, often living below their means to achieve lasting wealth.

Or take the example of Warren Buffet, one of the wealthiest people on the planet. He still lives in the same house he bought in 1958 for $31,500. That’s roughly around $344,063 today when adjusted for inflation!

Those who build wealth in a slow, stress-free way often adopt a frugal mindset. They are mindful of where their money goes and make conscious decisions to save and invest rather than splurge.

Now, frugality doesn’t mean living a life of deprivation. It’s about making smart choices that prioritize long-term financial health over short-term pleasure.

It’s about understanding that every dollar saved is a dollar that can be invested towards building wealth. And over time, those dollars can add up to something quite substantial.

6) They give back

Building wealth isn’t just about amassing a vast sum of money for oneself. The truly wealthy understand the importance of giving back to the community.

I’ve met many who have built their wealth in a slow, stress-free way, and one common thread among them is their commitment to philanthropy.

It’s not just about writing checks to charities, it’s about making a meaningful impact in people’s lives.

For instance, I know a successful entrepreneur who built his wealth from scratch. Despite his financial success, he spends his weekends teaching financial literacy classes to youths in low-income neighborhoods.

He believes that by empowering them with financial knowledge, he can help break the cycle of poverty.

Giving back brings a sense of fulfillment that money can’t buy. It also fosters gratitude and keeps us grounded, reminding us of our humble beginnings and the journey we’ve embarked on to build our wealth.

7) They never stop learning

This, I believe, is the cornerstone of building wealth in a slow, stress-free way.

Those who amass wealth understand that education doesn’t stop at graduation. They continuously seek knowledge, stay informed about market trends, and are always on the lookout for new investment opportunities.

They read books, attend seminars, listen to podcasts, and even hire mentors. They never rest on their laurels or assume they know it all.

Because in the end, the more you know, the better decisions you can make, and the more wealth you can build. Understanding this is key in your journey towards financial success.

Embracing the journey

If you’ve found yourself nodding along to these habits, you’re already on the right track.

The journey towards building wealth in a slow, stress-free way isn’t a fleeting sprint; it’s more of a lifelong marathon. It requires patience, consistency, and a willingness to learn and grow.

Take time to reflect on these habits. Which ones are you currently practicing? Which ones can you incorporate into your life?

In the end, the goal isn’t just about accumulating wealth. It’s about creating a lifestyle of financial freedom and peace of mind, where money serves as a tool to enrich your life and those around you.

Each step you take towards adopting these habits brings you closer to this goal.

And with each stride, you’ll discover it’s not just your bank account that grows, but your understanding and appreciation for the journey itself.