9 tiny habits that can compound into huge wealth and success

Tesla CEO Elon Musk at the 2013 New York Times DealBook Conference
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Tesla CEO Elon Musk at the 2013 New York Times DealBook Conference

Achieving financial success is a work in progress: It only produces substantial results over a period of time. What you plant in the present is what you will reap in the future. So it helps to examine the habits of ultra-successful individuals to see how their small, personal, daily routines are just as crucial as the big business decisions they make.

Transform your usual routine by adding these small but effective habits that will contribute to your future success.

Think bigger

"Have a healthy disregard for the impossible and actually build new solutions." –Larry Page

To reap financial freedom, start with an enabling mindset, one that allows you to look forward to greater goals.

Thinking big is a mental habit that helps you maximize your potential by making your future success seem more viable.

Whether it is for your career or your personal growth, elevate your perspective by leaving behind self-doubt and replacing it with bolder goals.

Turn to more cost-effective options

Frugality is a lifestyle for most ultra-successful people which lets them focus on opportunities to build on their wealth and avoid wasting money.

Impose self-discipline by spending as little as possible. Most of the time, you can reduce your budget by finding less expensive alternatives that work the same.

Envision future success

Success is highly dependent on the habits you build today. It's possible to travel through time by imagining your life in the future every once in a while. By envisioning the best quality of life that you can give yourself, you fuel the drive to continuously work smart and hard so that, one day, you will be able to reach that point.

"Having that long-term goal will enable you to have a plan on how to achieve it." –Denise Morrison, Campbell Soup Company President and CEO

Leave credit cards at home

Maintain your financial health by staying away from unplanned spending, which happens more often when you bring your credit cards along.

It may seem odd at first, but if you are able to leave your credit cards behind, you'll end up with fewer impulsive purchases that could hurt your financial goals and more money that you could save or invest.

Know when to say 'no'

"People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done. Innovation is saying 'no' to 1,000 things." –Steve Jobs

The ability to know when it's right to say 'no' gives you the authority over your decisions. On a daily basis, saying 'no' to distractions and negativity help you level up in your performance.

Automate contributions

Automating your finances is more than just the convenience, it is all about the consistency needed in order to reach specific goals.

According to billionaire Warren Buffett, if you fail to find a way to make money while you sleep, you will end up working for the rest of your life.

Since your money goes directly into right platforms (savings and investments), you give it the opportunity to grow and compound without having to think about it too much.

Shortlist priorities that matter

Facebook CEO Mark Zuckerberg asks himself every single day the question, "I am doing the most important thing I could be doing?"

Keeping your priorities to a minimum allows you to accomplish more as compared to a long list of tasks that forces you multitask. Note that, in terms of productivity, working on one task at a time is more efficient than attempting a million things without getting anything done well.

Surround yourself with success

According to Jim Rohn, you are the average of the five people you hang around with.

Build your self-worth by networking with people who have big goals. They can influence you to pursue your own goals through their positive energies, attitudes and drive.

By being with people who chase after success, not mediocrity, you get motivated to accomplish great things.

Seek negative feedback

Elon Musk pays attention to negative feedback and even solicits it. He thinks that hardly anyone does the same thing, so, for him, it's incredibly helpful.

To improve your performance, remember that even harsh criticism can help you identify areas for improvement. Stop moving away from these things and start chasing them instead to help develop your skills even further.


Good daily habits serve as your foundation to a financially secured future. Stop wasting time, energy, and resources on distractions that hamper your productivity. Focus on few but most important priorities to ensure that you stick to your long-term financial goals.

Elle Kaplan is the founder and CEO of LexION Capital, a fiduciary wealth management firm based in New York City serving high-net-worth individuals. She is also the Chief Investment Officer at LexION Alpha, her systematic hedge fund. It is one of the only women-owned and run hedge funds in the nation.

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