These 7 Smart Habits Could Make You Wealthy

Not everyone can be born into wealth. That's what makes studies like Credit Suisse's Global Wealth Report so interesting. According to the report, there are 62.5 million millionaires worldwide. Zippia reports that 22 million of those millionaires are here in the U.S.

So, what does it take to get a piece of the pie? Is the goal to become "filthy rich" or to have enough money in the bank to cover necessities and carry us through old age? The answer depends on your desires. Are you interested in luxurious ski trips to Switzerland, or are you happiest at a lake near your house, spending time with friends and family?

No matter what your future goals may be, there is something to be learned from those who've amassed enough wealth to give them options. Here are seven habits that many of the wealthiest among us share.

1. They're not interested in being "fabulous"

Look around your neighborhood. How many people drive the same SUV? How many kids at the bus stop wear the same tennis shoes? As humans, we long to fit in, to be part of the club. However, keeping up with the Joneses is the quickest way to abandon long-term financial goals for a dose of short-term acceptance. There's a better-than-average chance that the wealthiest people living in your area live a modest lifestyle.

2. They know where they stand

In the busyness of everyday life, it's easy to let things slide. One thing that those who build wealth do is keep track of where their money is coming from and where it's going. If they get off track by spending far more than they're investing in the future, they know it's time to make an adjustment.

3. They make their money work for them

Speaking of investing, rich people do not allow thousands (or millions) of dollars to sit idly in a savings account. They put that money to work for them earning interest. Keep enough money in savings to serve as an emergency fund, but invest the rest somewhere it has a chance to grow.

In the meantime, the easiest way to keep emergency funds liquid (while also earning interest) is by putting the cash in a money market account (MMA). An MMA is an FDIC-insured bank account that pays interest but also gives you access to money when you need it.

4. They focus on the long term

What matters to a wealthy person is not how their investments performed last year but how they perform year over year. Once they've factored in both the up and the down years, they want to know that the money has grown over time. They can ignore the "noise" of people declaring the sky is falling and focus on what the long-term market looks like.

5. They're not interested in making someone else rich

The wealthy know that the only one who gets rich when they pay interest is the lender. Paying high interest rates can quickly drain a checking account and dig a financial ditch that's difficult to climb out of. One of the first goals for anyone who hopes to build wealth is to get out of high-interest debt.

6. They know how much their time is worth

Let's say a person works from home and earns $75 an hour. They know that taking two hours to grocery shop will cost them $150 worth of work time. Suddenly, tipping someone else $20 to shop for them makes much more sense.

Along the same lines, wealthy people realize that they're not obligated to give their time away for free. If you're a hairstylist, you don't owe it to everyone you know to cut and color their hair free of charge. If you're a teacher, you don't have to tutor the neighbor kid just because you "know what you're doing."

Volunteering your time is your choice, and if that's what you choose to do, it can be incredibly satisfying. However, you owe it to no one.

7. They're not swayed by discouragement

You're unlikely to ever hear about a group of wealthy investors who pulled their money out of a bear market. That's because people who've built (or maintained) wealth know that the financial market is like a car on a mountain road. There will be periods when the ascent seems to last forever. And then there will be dramatic descents. You'll never get to the end of the road and enjoy the fruit of your efforts unless you stick with it.

As we all know, true wealth is good friends, a happy family, and a healthy body and mind. However, if you're hoping to grow your net worth as you work on the more important parts of life, taking a page from the wealthy is a good first step.