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5 Unexpected Millionaire Habits High-achieving individuals work to become stronger, more knowledgeable and more well-rounded over time.

By Timothy Sykes Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Alexander Spatari | Getty Images

Success rewards repetition and consistency. So it should come as no surprise that most millionaires are actually creatures of habit. And when it comes down to it, many millionaires, regardless of who they are or what type of work they do, actually share many of the same habits.

But these habits aren't necessarily what you'd think. Far from complex or unattainable, many millionaire habits are actually quite mundane. While this revelation may lack glamour, there's a silver lining: it means that you can easily adopt these habits in your own lifestyle if you aspire to be more successful. Do you have any of these five unexpected millionaire habits?

Related: 20 Habits Holding Me Back From Being a Millionaire

1. Revisiting the basics.

You might be tempted to think that once they've made oodles of cash, millionaires pretty much know everything that they need to know. But this is far from the case. Successful people recognize that it's usually when you lose sight of the basics and think you know everything that your performance starts going downhill.

Consider, for example, the writer Stephen King. He is without doubt one of the most successful writers of our time, and extremely skilled at his craft. And yet, as proven by his non-fiction book about the craft of storytelling, On Writing: A Memoir of the Craft, he's constantly revisiting the basics of what makes a good story. He hasn't lost sight of what is at the core of what he does.

Put simply: Millionaires are constantly going back to their roots and trying to refine and simplify the methods by which they make money.

Related: Greatness Begins With Understanding the Basics of Business

2. Keeping expenses low.

It's a little-known truth: millionaires are often among the thriftiest people that you know. But it is not necessarily because they are cheapskates.

Most millionaires have had to refine the art of saving so that they could invest in their business or investments. Often, the habit of saving is what allowed them to become millionaires in the first place.

To remain successful, they stick to the habit. They don't scale up their everyday expenditures, because they realize that even millionaires can be guilty of living "paycheck to paycheck" if they are not responsible with their money. By continuing to keep expenses relatively low and being good about saving, they are able to intelligently invest in new ventures.

Related: 50 Ways to Save Money in Your Business

3. Looking for guidance.

To become successful, follow success. While on the one level millionaires are known for forging their own path in life and business, they rarely do it without a little help along the way. They recognize the value of having teachers along the way and make a habit of seeking out guidance.

A mentor can be invaluable in helping individuals gain success faster. A mentor can provide relevant guidance from further down the career road, as well as advice on how to avoid common pitfalls and mistakes. Need more proof of the power of mentorship? Oprah Winfrey, Bill Gates and Mark Zuckerberg are just a few high achievers who had mentors.

Related: 3 Ways to Attract a Millionaire Mentor

4. Welcoming criticism.

Most people run away from criticism. Millionaires run toward it. Not out of masochistic tendencies, but rather, as a mode of self-improvement.

Chalk it up to the art of restraint. If a successful person hears criticism, they are able to avoid a knee-jerk reaction. Instead, they take the time to listen to the criticism so that they can actually consider its merit. Then, they can decide whether or not this criticism should propel them to improve themselves in some way, or if it can be dismissed.

By employing criticism as a catalyst for potential self-improvement, high-achieving individuals are able to become stronger, more knowledgeable and more well-rounded over time.

Related: How the Most Successful Leaders Deal With Criticism

5. Taking time off.

Millionaires know that there's no heroism in working 24-7. Honestly, after a while, you're just spinning your wheels, anyway. While you might get the bragging rights that you haven't slept for days, your work probably isn't nearly as effective. Plus, why work so hard if you can't enjoy the rewards a bit?

Millionaires know when to say when. They enjoy time their families, travel and indulge in hobbies (without going beyond their means, of course). They know that when they come back to work, they'll do it with renewed vigor and energy. This will allow them to maintain a positive outlook, which will help them remain successful over time.

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

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