Achieving financial success in life has little to do with academic qualifications and everything to do with habits and mindset.
Observing, reading about and mixing with financially successful people are good ways to understand what makes them successful. Financially successful people are generally not motivated by the trappings that money can buy. Their focus is on what they can achieve in the long term rather than what they can enjoy in the present. They have clear financial goals -- they think big and set challenges for themselves. They are not particularly interested in what people think of them or their lifestyle. They strive to make more and spend less.
Financially successful people are optimistic. They look for opportunities and they are not afraid to take them. They see the benefit in taking calculated risks for a better return. Obstacles do not deter them. Whereas others are driven by fear and greed, financially successful people keep their cool, do their sums and take an objective view. They work hard and are always looking at ways to get ahead. They take an active approach to building wealth rather than passively waiting for a lottery win. It is sometimes said that you need money to make money.
Financially successful people use the principle that you need other people's money to make money. They understand the principle of leverage. They take on debt, but the purpose of their borrowing is not to spend; it is to invest. They have a good awareness of their own strengths and weaknesses and are not afraid to call upon experts to advise them. Education is not essential -- just the ability to know who to ask and how to acquire specific information.
That said, knowing the habits of financially successful people is one thing, putting them into practice is another!
