 ever since I was a kid I've always wanted to be rich always wanted to have money I've followed a lot of billionaires I've followed a lot of millionaires because you know I mean who does not want to be rich who doesn't want to have nice things who doesn't want to travel the world but most importantly I realized that millionaires and billionaires are the ones that always call the shots so just imagine the other one who calls the shots everybody answers yes sir to you and you get to take all this nice holidays so what I decided to do was I decided to study a lot of these billionaires and basically try and understand what makes them rich so I decided to put this video together you know where I'm gonna be speaking about the top five you know ways the top five habits of rich people top five habits of rich people now guys if you're interested in finding out these top five habits of rich people and how you can invite them into your own self and ultimately become rich I suggest you stick around till the very end of this video hey guys and welcome back to my YouTube channel my name is Dapu Wallace now I'm a serial entrepreneur who just loves to make money online and in this video I'm going to be discussing about the top five habits of rich people okay guys so I've studied a lot of billionaires I've studied a lot of millionaires from Jeff Bezos to Bill Gates to Warren Buffet to I mean I mean the really really big boys even Aliko Dangoti who is the richest black man in the world who is a huge mentor of mine I've studied all these rich people and you know I just wanted to really understand what makes them rich so I decided to compile a list of top five habits of rich people now guys if you're interested in finding out a lot about all this stuff before I get into the nitty gritty of this video I want you to do me a little bit of I want you to do me a little favor can you smash the subscribe button and hit the like button hit the like button smash the subscribe button before we get into the juicy part of this video now the number one habit of rich people the number one habit that I've studied from rich people over the years is that is the fact that rich people set their money to work for them they send their money to work for them what do I mean by this let's say a billionaire comes up with an idea and this this habit that I'm about to share with you guys I have also invited in my own business and trust me it has absolutely made me a lot of money so the number one habit is the fact that they send their money out to work for them so let's say a billionaire for instance Jeff Bezos or Warren Buffett is sat in his yacht offshore of Monaco with some beautiful girls on the yacht and then a business idea pops up in his head do you know what he's going to do he's not going to carry his laptop out and start you know scribbing and writing and trying to execute that idea by himself he would never do that he will pick up the phone and then he would speak to whoever is in charge of HR tell them set up a team I don't care how much it costs this is the idea you guys go and research about it and go and execute it when you're done write me a report and get back to me and then he drops the phone so literally he's spending his time chilling and he has used his money to go and work for him so whatever the outcome of that project is they will put it together in the report and then they will deliver it to him haven't you noticed that the only thing that billionaires do is they just sit on their yachts offshore of Monaco and then people bring reports to them all billionaires do literally is they sit on their yachts and then they're just reading reports I kid you not they read reports but poor people poor people will rather save their money and go ahead and start struggling on how to execute the idea and stuff like that and you know that's part of the reason why you know poor people rather trade time for money no rich people trade money for time their time is far more valuable to them than anything okay so they'll rather use their money to and it helps them concentrate on the most important 5% of the business so they're not working in the business they're working on the business if that makes any sense they're not working in the bid they're not trying to figure out why this isn't happening they're working on the bid they hire people to do all the things within the business and then they sit back and then they can watch the business from afar and then help the business in a more effective way now guys this has also helped me tremendously because like I said earlier guys I remember any idea that popped into my head I'll grab my laptop I would you know want to build the website I want to design the logo I want to do this I want to I want to do the write up by the way I suck at writing I suck at designing logos I suck at all that stuff but I have the ideas so what I now decided to start doing a lot recently maybe in the last four or five months and trust me that really helped me what I do now is if an idea pops into my head what I do is I learn I learn how to go about executing the idea go on YouTube go on anywhere I learn about the ins and out of the project that I want to embark on and then obviously I learn about it I'm not legit but knowledgeable about it and what I then do is I write a project brief and I write on all the people that I would need to execute this all the things I do not want to do on the project I highlight everything out I highlight the project brief I highlight all the things I do not want to get done and then I go ahead and hire people if you're looking for way to hire people online go on Upwork.com absolute best place to hire professionals I hire people who are a lot better than me in those various aspects of the project and what do I do I give it to them and I say here the project brief I expect a report back from you that's exactly how I handle my businesses my online businesses today and trust me guys it has saved me so much time and guess what happens when they're done with it they send me back a report I have a look at the report and then I say okay this is good and this is bad and then if the report is viable enough what do I do I take my money and I reinvest in that project and before you know it another business has been formed so guys that is the number one habit of rich people they use their money to work for them number two habit of rich people is the fact that they count their money rich people always know how much money is coming in and how much money is going on okay they know how much money a lot of people do not know how much money comes in their account and how much goes in their account rich people like to focus on the two most important aspects of their bank statement the inflow and the outflow and what do they do they try as much as possible to curb the outflow but increase the inflow they try as much possible to curb the outflow and then they increase the inflow number three habit of rich people is the fact that they flow their money in the right direction they flow their money into assets and not liabilities they flow their money into the right places they flow their money into real estate they flow their money into Treasury bills they you hardly see a rich person buy things upfront from their jets to the expensive cars I know in developing nations like especially the West African countries African people love to buy shit upfront but if you notice the top billionaires they never really buy stuff upfront they will rather rent and lease than have to buy anything so they will rather instead of buying and instead of buying liabilities they'll rather buy an asset and have the asset take care of the liability for instance if they wanted to buy a new car what they will do is they'll probably buy a house and then the rent out income from the house is what pays for the car now I learned this from rich dad poor dad if you guys have ever read the book they always use assets to pay for liabilities you have more assets and less liabilities on your balance sheet okay guys so they flow the money in the right direction and then they use their assets to pay for what their liabilities liabilities being cars you know all this fancy stuff that you see am assets being you know houses assets are things that have returned on investment liabilities are things that depreciate over time now guys number four habit rich people have is the fact that they use money to buy time now I know I had already mentioned this but if you go to a rich person's house you realize that there's so much so many domestic stuff everywhere especially in those castles and big houses because the rich people do not be you have to understand that they will rather spend their time doing the 5% most important things their brain needs to be freed up so that they can spend their time being a billionaire being a millionaire the rest of the shit the outsources the laundry the washing the cleaning of the house the everything you might not agree with me on this but it's the truth go to any rich uncle or rich auntie's house you know and you see that they have the outsourced a lot of things rich people do not like to be bothered with the many things they like to focus on the most important things of their business or the most important things of their house or they do not like to be stressed from catch on a catch a flight you probably see a private jet waiting for them they always have PAs they always have a system working around them that helps them make that helps them free of their mind so that they can make the best decisions possible rich people spend money to free of their mind so that they can make the best decisions possible now guys number five habit of rich people is the fact that rich people contrary to what a lot of people say rich people do not bother themselves with little bargains you I know you're probably saying that you know a lot of stingy rich people but the rich people that I know do not necessarily bother themselves with petty bargains that's why they can walk into a store and spend five fifteen thousand dollars on a piece of suit they do not worry themselves with little bargains or rather I don't like to worry myself a little bargain because what I realized this what I realized was happening to me over time was the fact that anytime I was bothering myself about little bargains right my mind was so close to that bargain whereas I could have been using my negotiation skills in the boardroom so I don't really like to bargain on a little level I like to bargain on the big level let me try and save myself a twenty five thousand dollar cost let me try and save myself a fifteen thousand dollar cost I don't care if it's ten fifteen dollars twenty five thirty five dollars difference like I don't care just get the little things done but when it comes to the big things aha I can focus on that and try and negotiate and try and come up with a bargain but when it comes to the little things I just let it go okay because if you keep trying to focus on the little things and this is one of the habits of rich people rich people love a bargain yes but they will never bargain on anything less than 500 bucks period you never catch them trying to bargain with a newspaper guy or any of that stuff or a shoe guy or no no no no they want to bargain on the most expensive stuff because that's where they save the most amount of money what it makes no difference if you're saving fifteen twenty five thirty dollars a billion it doesn't add to his bottom line it's in like literally the amount of the zeros would would engulf the twenty five dollar bargain like you don't he doesn't even add up on his balance sheet okay I know there was a billionaire back in the 60s he named his name was mr. Getty JF Getty I think that was the name Mr. John Getty I can't remember his name that guy was so tight he would bargain on everything although he was a billionaire but I think that's an exception the guy used to bargain on everything but guys take it from me like if you're always bargaining on little things you would always miss out on the big things your mind will remain small okay let the little things go and open your minds to the bigger things okay guys now guys I hope I've been able to shed light on the five most important habits of rich people and I hope you're gonna be able to imbibe this in your own life in your own business world as well guys the most important thing that I took from this video is the fact that rich people ultimately use their money to work for them okay rich people send money out to investments and then investments bring money back to them rich people give you know pay their staff well enough to execute ideas on their behalf and then they bring back reports and they know what business are gonna work and what businesses are gonna work so guys I hope I've been able to help you out you know change your mindset as to how you can become a rich person this year alright guys thank you so much for sticking till the very end of this video I love you guys so much and I'll catch you guys in subsequent videos if you found this video helpful can lead you up a comment below and I'll see you guys in the very next videos alright guys peace out cheers and bye