5 Rules the Rich Live By (That Aren’t About Being Cheap): Lessons From a Self-Made Millionaire

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The habits of wealthy people are surrounded by myths — but forget what you’ve heard about penny-pinching or simply “being lucky.” According to self-made millionaire Ramit Sethi, real wealth isn’t just about cost — it’s about mindset, systems, and focusing on what truly matters. Here are the five unshakeable rules the wealthy actually follow, and how you can start applying them today:

1. Know the Ins and Outs of Your Finances

Wealthy people know their numbers — down to the dollar. Can you say exactly how much you earn, owe, and invest each year? Sethi’s research shows most people can’t. Savvy individuals keep track of their net income, savings rate, debt, and spending so they can make smart decisions on the fly, not just hope everything works out at the end of the year.

2. Have Systems, Not Willpower

Willpower fades. Systems run themselves. That’s why the rich automate savings, investments, and bill payments. Instead of agonizing over every spending decision, they set up rules — like investing a percentage of every windfall automatically — and let those systems build wealth in the background, even when motivation takes a nosedive.