7 Gratification-Delaying Daily Habits for Becoming a Millionaire

Wake up early, forget the concept of 'weekend,' work when others enjoy the company of friends or entertainment, remind yourself you'll enjoy life later.

learn more about Timothy Sykes

By Timothy Sykes


Opinions expressed by Entrepreneur contributors are their own.

Many people dreaming of becoming millionaires don't know where to start. The key to changing your finances and becoming successful starts with changing your approach to life and your daily habits. If you want to live like successful people do and start earning money like successful people do, then you need to start acting like a successful person each and every day. This doesn't mean spending like a millionaire, it means adopting positive daily habits that millionaires have in order to get an edge in your market. Here are seven of the most effective daily habits that millionaires have.

1. Wake up early.

If you want to reach your full financial potential, then you have to start getting up earlier. It doesn't matter if you are not a morning person, you need to start doing this. Get up and review the news, check your emails and get those menial tasks done first, before everyone else. Spend just 30 minutes researching a topic that interests you to hone your skills. This will put you a step ahead the rest of the day and have a dramatic impact on your productivity.

Related: 6 Ways to Make Getting Up Early Work for You

2. Quit taking the weekend off.

To be a millionaire you need to start using the weekends differently. This is no longer a time to party like there's no tomorrow. You can go out and catch up with friends a little, but remember your goals. I get some of my best work done after hours when others are succumbing to peer pressure. Use this bonus time to learn about finances, your industry and to not only get wiser, but also to get and stay ahead of the crowd.

3. Learn about finance and the stock market.

If the stock market is still a confusing concept to you, then you need to drop what you are doing and start learning about finances. Yes, it is boring, but it is very important if you want to have financial independence. Start learning about the market and honing your skills so you can make real money from your investments. Open up a small brokerage account or even paper trade if you have no money, but get comfortable with moving stock prices and different types of financial instruments.

4. Think long term beginning when you're young.

There is no age limit to preparation. The younger you can start planning for your future, the better. It is never too early to start planning and you are never too young to think about the future. Most people don't start until after high school or college, and some don't start until their late 20's. By then, you'll have fallen behind others who have a decade head start. Even if certain goals seem way too far in the future, it is always a good idea to start planning young.

Related: Have You Set Your Retirement Goals Yet?

5. Educate yourself online.

The Internet is one of the best tools that you have at your disposal, and chances are you aren't even using it to its full potential. There are so many free videos on YouTube and great educational websites where you can learn market skills and glean financial tips to you grow your portfolio. If you don't see the Internet as a library, you aren't looking at it in the right way.

6. Focus on goals first.

Goals don't have to just be monetary. Focus on achieving your own personal and professional goals. You need to create good products, build a strong brand and meet your other non-monetary goals before you start focusing just on money. Put the time and effort into creating quality and you will find that money follows. Don't just focus on making money above everything else, or you will never reach your full potential, or your financial goals.

Related: The 4 Essentials to Building Your Brand on Social Media

7. Use social media to build your brand.

Your social media efforts should be more about building your brand and your business around a brand. See my Instagram for example; even though I teach how to trade stocks, I also show the life I am fortunate to have as a result of my studies. I visually inspire my students to study harder and now I have nearly 500,000 followers on Instagram, more than 3x the size of any of my other social networks despite for example my YouTube channel having over 500+ free videos. Recognize that social media isn't just for showing your expertise; most people use it when they're bored, so if you can find a way to entertain or inspire people, you will find success.

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.

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Business News

American Airlines Sued After Teen Dies of Heart Attack Onboard Flight to Miami

Kevin Greenridge was traveling from Honduras to Miami on June 4, 2022, on AA Flight 614 when he went into cardiac arrest and became unconscious mid-flight.

Business News

Would You Buy Maggie Murdaugh's Monogrammed Snake Print Pillows? Items From the Murdaugh Family Home Are Going Up for Auction

The sale comes just weeks after Alex Murdaugh was sentenced to two consecutive life terms for the June 2021 murders of his wife, Maggie Murdaugh, and son Paul Murdaugh.


After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.

Author Karen Inglis breaks down the strategies and tactics you need to generate awareness and sales for your self-published book.

Business News

Jake Paul and Lindsay Lohan Fined $400,000 for 'Illegally Touting' Crypto

The SEC just disclosed that eight celebrities agreed to a massive settlement without admitting guilt.


Entice Customers to Make Additional and Larger Purchases Using These Two Tactics

With transparency, permission, and an eye on the customer's perception of value, you can knock both cross-selling and upselling out of the park.