There are many factors that lead to becoming a millionaire. And while part of it's just being in the right place at the right time, there's plenty you can control. "Millionaires come in all shapes and sizes, but many of their good habits remain constant, across the board, no matter who they are. Take the time to cultivate these habits," self-made millionaire Timothy Sykes says. "You might start small, by waking up a little earlier each day. But ultimately, you want to refine all of these millionaire habits, including good saving habits, developing the ability to self-reflect, redefining your definition of failure, and maintaining a strong commitment to giving back to your community."

1. The 7 Habits Young Millionaires Possess
You might just reach that 7-figure income with these habits.
By Larry Alton , Independent business consultant@LarryAlton3
Do you have your sights on one day becoming a millionaire and enjoying the benefits of a
lifestyle that's characterized by financial freedom? Well, you aren't alone. You'll be hard-pressed
to find anyone who doesn't want to become a millionaire. Why, then, do so few ever achieve this
status? Well, it all comes back to habits. Employ the wrong habits and you'll end up living
paycheck to paycheck. Hone the right ones, however, and you'll have the world at your
fingertips.
Seven habits you need to perfect.
There are many factors that lead to becoming a millionaire. And while part of it's just being in
the right place at the right time, there's plenty you can control.
"Millionaires come in all shapes and sizes, but many of their good habits remain constant,
across the board, no matter who they are. Take the time to cultivate these habits," self-
made millionaire Timothy Sykes says. "You might start small, by waking up a little earlier
each day. But ultimately, you want to refine all of these millionaire habits, including good
saving habits, developing the ability to self-reflect, redefining your definition of failure, and
maintaining a strong commitment to giving back to your community."
With all of that being said, here are a handful of habits you should consider.
1. Knowledge consumption.
Millionaires know they can't be successful on their own. They understand that learning and
knowledge are critical elements of personal and professional growth. Specifically,
millionaires read -- and read often.
According to a study by Tom Corley, author of Rich Habits: The Daily Success Habits of
Wealthy Individuals, 85 percent of millionaires read two or more books per month.
Specifically, they're reading books on topics like self-help, current events, health, leadership,
psychology, and careers.
2. Goal Setting.
Millionaires are habitual goal-setters. They set small goals, big goals, immediate goals, future
goals, achievable goals, and ridiculous goals. They set goals because they understand the role
that specific objectives play.

2. Corley's research shows that 81 percent of millionaires maintain an active to-do list,
compared with just 9 percent of people earning $30,000 or less per year. That should tell you
something right there. While a goal won't help you become a millionaire, it will lead you down a
path with more opportunities.
3. Careful Budgeting.
Self-made millionaires are almost always excellent at personal finance and money
management. They understand the value of budgeting and know that with more money
comes greater responsibility.
How are you at budgeting? Do you squeak by and barely make ends meet at the end of the
month, or do you plan out where every penny goes? This may not seem important -- especially if
you don't have trouble paying your bills -- but it's a habit that will take you far.
Here's the thing -- budgeting doesn't have to be hard! If you start with small steps and allocate
your funds the right way, you'll actually come to realize that it's helpful. It relieves stress and
puts your mind at ease. As a result, you can focus on making more money.
4. Early to rise.
Lazy people hit their snooze button and wait until the last possible minute to get out of bed in the
morning. As a result, they end up eating an unhealthy breakfast, rushing to work, and leaving
their briefcase at home (or something to that effect). Successful people are early risers -- not
because they enjoy getting up early, but because they know the benefits.
"I'm up by 4:15 a.m. every day," small-business expert Peter Shankman says. "It's truly amazing
what you can get done if you get up early [and begin networking]. We all have people in our
network, and the majority of us don't bother connecting with them just to say 'hi,' but rather, only
when we want things. That's not a good way to grow your network."
5. Personal health.
It's been said there are only two places you can't make money from -- a hospital bed and a casket.
If you want to be financially successful, you have to stay healthy. This is why most
millionaires have some sort of health plan in place.
The two biggest keys to being healthy are getting regular exercise and maintaining a healthy diet.
If nothing else, you should (1) aim to get in 30 minutes of physical exercise eachday and (2)
cut out as much processed food from your diet as possible.
6. Meticulous organization.

3. Successful people tend to be more organized than unsuccessful people. This doesn't
necessarily mean you have to color-code your files, but it does mean you should follow orderly
processes throughout the day.
The best thing you can do is take 10-20 minutes at the end of each work day to shore up your
loose ends. During this time, clean off your desk, throw away trash, organize desktop files,
respond to emails, and leave a sticky note to remind yourself of what needs to be done first thing
in the morning.
7. Purposeful productivity.
Productivity isn't something that just happens. If you want to be productive on a daily basis,
you have to establish rules and processes that continually push you to maximize output.
Everyone has their own methods for staying productive, but entrepreneur Steve Scott likes to
follow the "two things" rule. "To avoid out-of-control situations, pick two things every day
to get rid of, or eliminate," he says. "If you have an empty box sitting in the corner, break it
down and throw it in the recyclables. If you're trying to cut down on soda, have half the
amount you usually have. Regardless of what it is, cut out, eliminate, toss...two things
daily."
And remember to learn from those around you.
The good news is you don't have to pursue wealth and financial freedom on your own. There are
thousands of good examples out there. Tap into their experiences and learn from them. What
can they teach you about becoming successful? Chances are, they'll highlight the seven
habits outlined in this article.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
Published on: Dec 2, 2016