In my Rich Habits Study, I tracked over 300 activities/habits that separated the rich from the poor.
Individually, most Poor Habits do not have a significant impact on your financial circumstance.
However, some Poor Habits do have a more profound impact on your life.
Below are a few of the most destructive Poor Habits:
- Poor people like to gamble: 77% of the poor admitted to playing the lottery regularly vs. 6% of the rich. 57% of the poor admitted to betting on sports weekly vs. 16% for the rich. Gambling is a tax on the poor. There’s a reason the poor gamble – random luck. Gambling levels the playing field, in the mind of the poor. The odds of winning are the same, whether you are rich or poor.
-
- Poor people love watching T.V.: 77% admitted to watching more than 1 hour of TV a day vs. only 23% for the rich. And their favorite TV shows? Reality TV 78% of the poor who watch more than an hour of T.V. each day are watching reality TV. Watching TV is a time-wasting or Do-Nothing Poor Habit. If you were to just reduce your TV watching by 30 minutes a day and re-deploy that time by reading to learn, exercising, or pursuing some goal or a dream, the cumulative beneficial effect could be the thing that lifts you out of poverty or poor health.
It seems the poor cannot control their negative emotions: 43% of the poor admitted to losing their temper at least once in the past month vs. 19% of the wealthy. Those who do not make a habit of controlling negative emotions are unable to build strong, powerful, life-long relationships with others. One outburst can destroy a long-term relationship in a matter of minutes.
- Poor people like to gossip: 79% of the poor admit to gossiping while only 6% of the rich have this Poverty Habit. Gossiping almost always involves negative criticism of others. Gossiping damages relationships because people will not trust you once they find out you are a gossiper. Those you gossip about eventually figure out who is doing the gossiping. Gossip destroys relationships.

Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.
'What Do Gambling, Junk Food, Reality TV, Anger and Gossiping All Have in Common?' have no comments
Be the first to comment this post!