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Chelsea decodes the secret language and behaviors of wealthy people to help you be good with money in your own (budget-friendly!) life. You can find more ways wealthy people stay rich in this 3-Minute Guide:

15 Ways To Invest Small Amounts Of Money (and turn it into a large amount of money):

How Money Changes The Way We Think And Behave:

The Age of Entitlement: How Wealth Breeds Narcissism:

21 Ways Rich People Think Differently Than The Average Person:

8 Beginner Questions & Answers About Investing:

How to Invest When You Have Student Loans:

How to Do Your Own Taxes:

How To Buy A Home:

10 Easy Steps To Creating A Budget Spreadsheet:

5 Ways To Start Investing With Little Money:

How To Invest If You're Broke:

9 Investing Terms You Should Know:

24 Terms Your Boss Will Expect You to Understand:

Taking the Right Kind of Break Makes You a Better Worker:

The Financial Diet site:


Hey, guys. It's Chelsea from The Financial Diet.

And this week's video is brought to you by Status Money. And this week, I wanted to talk to you guys about the secret language and behaviors of wealth. And that might sound weird, because this channel is all about getting better with money no matter where you are financially.

And you definitely don't have to be wealthy to participate in that. But we have learned so much about how money impacts our behavior here at TFD, and we've learned that wealth is not just about how much money you accumulate. Particularly in America, there is a whole different approach to life, not just the financial parts of it, when you're wealthy.

Money actually scientifically changes the way you think and feel, and there are definitely downsides to those changes, including feeling less empathetic and connected to the world around you. But it's not just about perception. There are many specific behaviors that wealthy people tend to practice which are adapted to perpetuating their wealth.

And the good news is there are a lot of these habits and techniques that one can adopt even if you are on a serious budget. Above all, wealthy people give themselves permission to do things. They feel that they deserve to go for the things they want.

And yes, that's scientifically proven. They ask questions, and they prioritize making life easier for themselves. We'll link you guys to some more of this research on how money affects the brain in the description.

And no matter how much money you have, using some of these strategies can be a shortcut to living the life you want more fully and making the most of what you have. So in the interest of using some of these habits to our benefit, here are eight things that wealthy people do differently. Number one, they don't wait for permission.

As I said, probably one of the biggest defining characteristics of wealthy people is that they feel that they deserve to go for the things they want, and they don't wait for someone to give them the green light. And while yes, a lot of that has to do with having the actual money required to go after some of these things, there are a lot of ways you can put that approach into practice that have nothing to do with money. As I've mentioned before on TFD, a maxim in life that I find super useful is that it's easier to ask for forgiveness than permission.

And in our careers especially, it's super important to put that into practice. Instead of waiting for your boss to come up to your desk and drop your dream job in front of you, start demonstrating that you can take on that responsibility, and start working on some of the tasks for the job that you want. Learn what criteria your boss is judged on, and work on making her look better.

It's one of the easiest shortcuts to climbing any career ladder. In your personal life, start signing up for clubs or meetups you've been meaning to go to. Start learning that language you've been putting off.

And start asking people out on a date, rather than waiting to be asked. Remind yourself every day that no one is going to walk up to you and hand you the life that you want, and that you deserve to go for it. Give yourself permission to go after these things you've been putting off.

Number two, they know the landscape around them. One of the untold secrets about being a wealthy person TM is that the idea that they don't talk about money is very false. They do talk about money, but just amongst themselves.

Amongst the wealthy, there's actually a much more established practice of financial awareness around things like salaries, home prices, investment strategies, et cetera, because they seek out this information. They speak candidly with advocates and mentors in their career field, and they'll even pay headhunters to give them key information in their industries. They keep tabs on the value of their investments, of their real estate assets, and even fair market interest rates.

They know their financial landscape. And it used to be that you had to have those same inroads to have that information yourself. But with Status Money, you can recreate that experience with a simple and totally free platform.

Basically, Status Money aggregates data from millions of people and allows you to anonymously analyze your finances in comparison with your peers, your city, or even national averages. Everything from spending to interest rates to home values to salaries can be compared to help you identify where you might be overspending, under-earning, or just not getting the most value out of an account or property. Since these comparisons are anonymous, your privacy is always maintained.

And Status uses bank-grade security to keep your information safe. Status Money doesn't just show you your money. It puts it in the context that matters, and helps you advocate for yourself by giving you the actionable tips and showing what is actually the norm.

Join Status Money to start creating smarter budgets and making more informed money decision. We'll link you guys in the description. And remember, it's totally free.

Number three, they ask for help with what they don't know. As you've probably heard before, wealthy people tend to have a lot of counselors around them. They have accountants and attorneys and estate managers and people to turn to for basically any question they might have.

And while you may not be able to afford to have these people advocate for you, most of the information you're probably looking for is available to you for free if you're willing to do the research. There are excellent resources available on the basics of getting started in investing, completing your taxes, buying a home, or even creating a budget. The truth is, wealthy people are often just paying other people to think about these things for them, because they don't have the time or bandwidth to do it themselves.

But if you're willing to take a little time, the internet provides us with near unlimited resources to answer all of those questions that we feel we can't even ask. The first step is knowing where to look. And as you saw on screen, we are going to be including all of the links I mentioned in the description.

Number four, they put a specific and growing value on their time. Wealthy people decide that every hour of their life has a value, and they stick to that value while constantly trying to raise it. They are judicious about what they spend an hour of their time on, because they're aware that the only thing they can't buy more of in life is more lifespan.

But we can all practice that level of judicious in our lives and teach ourselves to value our time just as much as we value of money. Take some time to calculate your per-hour value if you're someone who's paid on salary, and start thinking consciously about ways you can raise the value of that hour. Can you take on a side gig that might pay you more hourly?

Could you work on learning a skill that would raise your value in the industry, instead of, say, going out to happy hour again? Look through your contacts list. Who are the people that are real friends that you've been meaning to spend more time with?

And who are the people that are mainly just acquaintances that you've been seeing out of obligation? Start treating each hour of your life as if it has a real value, and not just the ones where you're sitting at a desk. Ask yourself if what you're doing with every hour of that life is something you really want to be doing.

Number five, they speak the language of money. One thing that the wealthy tend to understand better than just about anyone is how much being good with money is really about understanding its language. So many of these concepts that seem like second nature to people with money and totally foreign to people without is just a question of understanding what these concepts mean.

For example, I used to think that one needed to have a lot of money to invest, which is totally not true. You can invest with literally just a few dollars, and there are several different ways to do it. We'll link you to more information about that in the description.

But whether it's concepts around investment or the jargon-y stuff that you're likely to hear in your office, half of having that confidence in life is just understanding what the hell you're talking about. Some of these things may still be out of financial reach for you, but a lot of them won't be. And knowing what you're talking about ensures that you can advocate for yourself, know when you're getting a good deal, and ask for the things you want.

Number six, they know that money is a long game. There is a thing called an investment horizon, and there is also a thing called compound interest. And whether or not you choose to engage with these things, they're going to exist all the same.

You just won't be cashing in on them. If you are young-- and chances are, if you're watching this channel, you probably are-- you have the most valuable thing in the world when it comes to money-- time to let it grow. And the more you start thinking about every dollar in your life, not just in terms of its immediate value, but in terms of what it has the potential to become, the better you will be with money immediately.

The choice is not between this $5 Starbucks that will make me happy, or this $5 just sitting in a sad bank account making me feel bad. The choice is between this $5 Starbucks today or the hundreds of dollars it has the potential to be when it comes time for retirement. And trust me, you will want those hundreds of dollars.

Wealthy people understand that leaving your money time to work and grow is the key to accumulating it. But they do not have a monopoly on thinking this way. Start playing the long game in your own life, instead of the impulsive one.

Number seven, they outsource, outsource, outsource. Sometimes, you are just not the best woman for the job, even when it comes to the things in life that you are supposed to do. And what things are better off outsourced is going to depend on your own life and skills.

But the point is, you can give yourself permission to not do everything. Wealthy people are hardcore about outsourcing everything from child care to domestic tasks to administrative stuff to even actual big parts of their job. And I'm not saying that you should do that, even if you had the money to do it.

But the second part about deciding the value of an hour is deciding that this thing you're about to do may not be worth the value of that hour. If you are someone who absolutely dreads cleaning, and are living in a constant state of low-level squalor because you can't bring yourself to do it, the cost of a twice-monthly cleaner might be worth it in terms of your mental health and in terms of the things that it will free you up to focus on. You may want to automate the delivering of groceries.

Many apps and stores will do it for free. You can automate banking transfers. You can hire assistant for short term and extremely demanding projects.

Or you can even just ask for help from a loved one to hold you accountable to something. Life is not meant to be one huge challenge that you take on totally alone. And the more you accept that you are a human being who can dedicate their time imperfectly, the better you will become at deciding what is really worth doing yourself.

Number eight, they know the importance of recharging. Wealthy people are always taking vacations. They're always jetting off to recharge at one of their second homes or the second home of one of their friends, which is one of the biggest perks of being a rich person, is having other rich friends with whom to share all your rich person things.

And yes, that is probably not accessible to most of us. But what is totally excessive is carving out intentional space in your life that is dedicated to recharging. Plan out detailed staycations that force you to be present and grateful in your own city.

Schedule yourself a full-on pampering day at home, with face masks, manicure, pedicure, scrubs, bath bombs, and wine. Mark specific time on your calendar to read a book you've been meaning to read, and actually honor that schedule. Treat recharging like an intentional, valuable part of your day-to-day life, because it is, and because focusing on that recharging will help you be so much better at the stuff you actually have to work on.

Studies show that you work better when you take time for dedicated breaks. And it doesn't just have to be 20 minute pauses in between study sessions. Start making your relaxation a priority so you can manage the rest effectively.

You don't have to have a lot of money to start acting like you do in the good ways. We are all entitled to design and pursue our lives and to treat ourselves like the valuable people that we are. And to start learning more about the current status of your finances, joint Status Money for free at

As always, guys, thank you for watching. And don't forget to hit the Subscribe button and to come back every Tuesday for new and awesome videos. Bye. .