True Habits of the Wealthy

Sign Up For Weekly Tips! Get Trevor’s Weekly Tips Straight To Your Inbox!

It’s funny because I work with a lot of pretty wealthy people, and I see how they live and what motivates them.  I also see what habits they have that people without wealth don’t have.

One thing that’s probably fair to say about people who have decent jobs but struggle to get ahead is that they haven’t developed good financial skills and habits.

Here are some of the habits of people with a net worth of between 1 and 5 million dollars, (not the super-rich) based on my observation and on independent studies too:

  1.  They live below their means.  They count financial security as more important than having lots of stuff.  In fact, most often, the more lavish the lifestyle, the lower the person’s net worth.  I know a lot of pretty wealthy people who drive older pickups and wear regular jeans and shake their heads at the lavish lifestyles of their subordinates.
  2. They are relationally stable, and their spouse is cheap.  Are there divorced, wealthy people out there?  Of course, but dividing your assets in half makes for a stiff headwind when it comes to accumulating wealth.  And having someone who is on the same page with you around spending is a big help.  You may have a good offense (high income) but a weak defense (high spending).
  3. They don’t drive ultra-expensive vehicles.  By survey, their top 3 favorite car choices are:
    • GM (26.7%)
    • Ford (19.1%)
    • Chrysler (11.8%)

    A full 50% of respondents to this survey had never paid more than $30,000 for a vehicle in their lives.  Most wealthy people are pretty regular, and don’t aspire to extravagant spending.  That’s how they become wealthy in the first place.

  4. They weren’t supported by their own parents financially, they don’t tell their children about their wealth, and they don’t support them economically when they in turn become adults.  They believe that children will never become strong financially until they learn to earn and save on their own.
  5. They enjoy their work.  Work is not drudgery to them.  They enjoy what they do and they’re good at it.  It’s hard to be good at what you do if you show up every day comparing your weakness to other’s strengths.

If you want to get ahead, work toward these simple rules:

  1. Own your own home
  2. Invest 10% of your gross income every month
  3. Strive to build a happy marriage

Not super easy, but not complicated either.

Written by Trevor Throness
Trevor is a veteran coach, keynote speaker, and the author of the book “The Power of People Skills” released by Career Press NY in 2017. He’s also written for or been featured in places like Forbes, Inc, The NY Post, The Globe and Mail, Entrepreneur, CEO Magazine, and numerous podcasts and interviews.


Our Clients Love the Professional Leadership Institute

Your team will, too! Check out some reviews from our students.
The PLI program was invaluable to our network.
The range of topics delivered, the open dialogue, experience, and examples that PLI brought to each session were outstanding and provided a path for our Franchisees and Managers to look at leadership, coaching, and connecting with their teams in a new light. Many have implemented these strategies in their bakeries and have seen immediate results.
Michelle C.
COBS Bread
Highly recommend to help your team move forward
We have locations around BC and Alberta, so getting people on the same page can be very difficult... Until now. Our entire management team and location managers take the same great courses and then meet monthly online with our coach to apply it to our situation. People are engaged, the courses are excellent, we love our coach, and we are all learning together!
Jason Fawcett
President, Kelson Group
The result has been a transformation of our culture. 
We decided to implement PLI's strategies across the country in over 150 locations and over 3500 employees.  The result has been a transformation of our culture.  People's lives have been positively impacted - professionally and personally.  Morale is high and sales and profits are up as a result.
Daryl Verbeek
Daryl Verbeek
We’ve learned how to fix ongoing personnel issues once and for all
The roadmap laid out set our business up to quintuple in sales.  We've learned how to fix ongoing personnel issues once and for all, attract top talent, and spend our time focused on results, not internal staffing problems.  I highly recommend PLI to you - it's worked for us!
John DeJong
Satisfied Client
I had no idea that running a business could be this fun!
In less than 18 months of working with Trevor, he has transformed my business from being average to exceptional, where mediocrity is not acceptable, where being great is standard.  Working with PLI has allowed me to realize my dream of not simply owning a job, but owning a business.
Justin Bontkes
Principal, Caliber Projects
Our culture has taken major steps forward this year
Our culture has taken major steps forward this year with Trevor’s help.  He is funny, relatable, and his tools are very very practical and have helped us focus and upgrade our teams throughout our retail network. Trevor recently spoke to an employee group, and one person remarked, “I could listen to Trevor all day.”   We would highly recommend Trevor.
Stan Pridham
Founder, KMS Tools
The results have been remarkable
At first, we resisted, “This just won’t work with a law firm.” But we persisted and the results have been remarkable: our client base and profits have steadily improved, and staff engagement and morale is the healthiest its ever been.
Doug Lester
Partner, RDM Lawyers
Helped our fast-growing business become what it is today
I've experienced PLI's approach first hand and it's been crucial to sustaining our growth.  I can't imagine a business that wouldn't benefit greatly from his help.
Brian Antenbring
Founder, TEEMA
Provided practical ways to make positive changes
Trevor was incredibly well-received by the entire organization. He was able to articulate people issues that many of our franchisees were experiencing and provided them with practical ways to make positive changes. We have implemented the Star Chart tool across the organization and see it as vital to building happy, effective teams.
Aaron Gillespie
President, COBS Bread
Scroll to Top

Start Learning Today

For Individuals

Unlock your potential and accelerate your career with sought-after management and leadership skills.


Transform Your Organization

For Teams

Book a consultation to discuss your challenges and discover how we can help you build a winning team.


Sign Up For Weekly Tips!

Get Weekly Coaching Tips Straight To Your Inbox Every Monday.