17 Healthy Money Habits of Successful People

Do you aspire to be financially stable and successful? Having an idea of healthy money habits is the first step on your journey to financial success.

Of course, everyone wants to be successful and not worry about money. But how can we achieve this? Success does not come overnight; you need to develop financial habits that will bring you success.

Successful people like Steve Jobs and Oprah Winfrey had a dedication to their craft and great financial habits.

But what are these habits that will make one successful? Here are 17 financial habits of successful people that you can do to be successful yourself. 


Related articles on budgeting and saving money:   





17 Healthy Money Habits of Successful People


  1. Create a budget plan


The very first step in establishing healthy money habits is setting a budget. Write down the source of your income and your expenses. It is better if you do this by month.

Figure out how much you pay for your rent, electricity, water, food, daily expenses, and all. The leftover money from your income may be placed into savings or others.  More on this later, read on.


2. Plan their spending


To strengthen the first step of your healthy money habits, successful people plan their spending accordingly. As mentioned above, some leftover money from your income may be used for other stuff.

Don’t go straight to the mall and spend all your leftover money on sales, set a certain amount that you will only use for your luxuries. Otherwise, it goes to your savings.

A great rule to follow here is the 50/20/30 rule. A total of:


  • 50% of your income goes to essential expenses like rent, bills, and groceries
  • 20% should be saved and the remaining
  • 30% can be spent on wants and frivolous items which are not essential


 healthy money habits 50 20 30 rule


3.  Work hard and smart


Some people tend to only work hard, while others work smart, but successful people do both. It doesn’t pay to just work hard but you also need to know when to work hard.

One of the most useful healthy money habits is to learn to assess whether your effort on something will pay off at the end. Your socioeconomic status and personal background do not matter as long as you know when to work hard by working smart.

An example of this is something that I personally found out the hard way myself.

A few years ago, I wanted to become a freelance writer, but I didn’t have any experience. I tried reading lots of free information and training and I spent hours and hours trying to learn how to become a freelance writer.

After months of doing this and not getting anywhere, I decided to sell some clothes on Facebook Marketplace, and I bought a freelance writing course.

The result?  I had 3 new clients in 3 weeks.

So, I found a shortcut and worked smart so I could earn money faster.


How to become a freelance writer with no experience using elna's course

4.  Prioritize their savings first


Successful people always prioritize their savings above all, this is a key foundation in their financial habits. From your monthly income, set a fixed amount of money for savings (at least 20%).

That’s why it is important to create a budget plan so that your money for savings goes untouched.



5. Minimize their credit use


One of the many mistakes people create is maximizing their credit cards. It is deceivingly easy to use, but it will only create a financial burden in the end!

The solution is to minimize your credit use by setting a certain amount of money to be used in credit. Or better yet, cut them credit cards up!

Here is a useful article on 5 Simple Ways to Reduce your Credit Card Debt.


6.  Live within their means (or below!)


If you apply the first two financial habits mentioned above, living within your means can be a lot easier to do. This means you must spend less or equal to what you earn per month.

Simply put, to save you need to follow this simple equation:




If you can do either or both, you WILL save.


7.  Say no to debt as much as possible


Being in debt will only lead to more debts, so it’s better not to be in debt at all. Having debts might screw up your budget plan and might disrupt your savings. Debts often come with high-interest rates which can spiral out of control.

This is the start of a financial downfall when not handled properly.

If borrowing and being in debt is not avoided, plan carefully what to do to pay it off. And never touch your savings.



8. Frugal living


This is one of the most basic healthy money habits, yet the most neglected. Living frugally is the concept from where all other financial habits spring from.

It basically means to spend wisely, but it doesn’t necessarily mean to be super stingy and cheap all the time.

Frugality is about knowing what to buy and what not to buy. Making spending decisions based on whether you need it, and whether you can afford it. That’s what being frugal is about.


Here are 21 Unique Frugal Living Tips to Save You Thousands


9. Plan for retirement


Successful people plan way ahead into the future like planning for their retirement. Saving and investing money while you are in your 20s will generate far better retirement plans.

Why wait till you reach your 40s before you start planning for your future? As the saying goes, the future is now. So, start planning for your retirement at a young age.

Think about how much you will need when you retire, how will you save and achieve that because let’s be honest, there is nothing glamorous about sleeping at a bus stop!

Also, as you get older the inflation rate will be higher. By the time you reach your retirement age, the things you can normally buy with 50 dollars will be lesser.

If you don’t have a plan by then, spending will be WAY MORE costly.


10. Save money for emergencies


Aside from savings, successful people also opt to add an emergency fund to their budget plans. Be it health concerns or natural disasters, it is always better to have an emergency fund.

Since it is established that savings must never be used for other purposes (in the present), having an emergency fund is better than to feel sorry when something bad happens. It is better to plan ahead than to suffer in the end.

Note- Your emergency fund must be at least 3 months of your salary


11. Track spending habits


Part of successful people’s healthy money habits is tracking their spending habits. They literally track it down by writing or taking note of what they buy and for how much.

It will make you more aware of how much you have spent and how much money is left. Managing and tracking your expenses will allow you to manage and control your expenses.

A few budget trackers I use which can be downloaded for free on your phone :



Or here is a free budget planner


12. They restrain themselves from buying too much


Compulsive buying is not a healthy money habit of any successful person. That’s why planning your spending is a must if you aspire to be financially stable.

Mall sales, discount offers, and the likes will only entice you to buy, so it is best to avoid it.

In the beginning, it may be difficult but practicing yourself to restrain from buying unnecessary things will help you grow financially.

The only way to get better at something is to do it often.


13. Invest their money wisely


All healthy money habits lead to this. Even if you have a plan, a tracker, or a system, if you don’t know how to invest it practically, to work for you, then you will be stuck in the human rat race.

Successful people read books on investment and how to invest money with minimal risk.

A great tip is to invest your money in ‘income-generating assets’. I.e. real estate, shares as they will generate you an income passively.

This amazing book helped me change my mindset and learn to how to invest wisely with minimal risk.


healthy money habits - rich dad poor dad book


14. Learn from mistakes


These healthy money habits are not a hundred percent fix to your financial problems. Along the way, you will encounter obstacles. But it’s okay!

As long as you learn from it and recognize the things you need to improve on. Mistakes can be used as a stepping stone to achieving a bigger feat.

There will be times in your financial journey where you lose money, but as long as you are making more than you lose overall, you are on the right track!



15. Pay for things in full (no to credit!)


Always, always, always avoid using your credit cards. The more you have stuff paid for in credit, the more bills you have to pay for using real money. Also, it disrupts your budget plans.

Instead, pay for things in full. If you really need something, earn for it before you buy it, don’t resort to credits. But if it’s just your ‘wants’, don’t buy it.

Using the example, I mentioned above, I sold clothes on FB Marketplace to pay for a freelance writing course.


16. Sacrifice short term happiness to achieve long term goals


If you apply healthy money habits in your daily life, you may feel a slight discomfort at some point. So did other successful people! But look where there are right now? Achieving your financial goals is worth it in the end.

Simply turning down a luxurious vacation or avoiding buying expensive stuff adds to the money you can enjoy in the future.

If you put your long-term goal in your mind, all these short-term sacrifices will pay off in the long run. You just have to keep grinding.



17. Don’t compare themselves to others


Successful people do not look at their neighbors and compare the things they have or don’t have. Instead, they focus on their own yard and look at the things that can be improved.

This mindset will not only make you successful from a financial aspect, but also in life. So what if your neighbor has a new car?

That’s a luxury you can also afford, but do not buy because you are wise enough to know that your money will be better when put to your savings.

Another great tip is to practice gratitude every day, so you don’t constantly feel like you don’t have enough and spend more. Gratitude will help you reduce your expenses!

The truth is, there are no shortcuts to getting rich quick, but there are healthy money habits that will help us be financially stable and ready.

Don’t be discouraged when you feel like all these habits can’t be implemented or they make you feel unhappy, remember that patience will bring you joy in the end.

Regardless of what your financial situation is, if you start doing these small healthy money habits and apply it in your life, you will be in a more blissful financial situation, years from now.


If you are looking for ways to make extra money from home:



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