The 30 universal traits of mega successful people.

1.         They go the extra mile.

People who achieve big things in life invest extra effort, thought, and creativity into everything they do, no matter how big or small.

2.         They take risks and are willing to fail.

Failure is not the enemy of successful people – it’s a necessary ally.  In fact, if they don’t go through enough failure in their lives they understand they’re not taking enough risks.’

3.         Luck is created.

Successful people don’t wait around for luck to bless them – they go out and create their own opportunities with hard work, smart planning, and persistence. 

4.         They have a dream.

Mega high achievers have an overall goal or dream that always seems audacious, unrealistic, and out of reach…until they reach it.  They keep this big dream in mind at all times.   

5.         They set small, realistic goals.

Even though they dream big, successful people break the path to that dream into smaller, manageable goals.  They focus 100% on the goal in front of them; cross it off once they reach it, and set the next goal.

6.         They take responsibility.

People who go far in life understand that by assuming accountability for their actions they empower themselves.  They never try to pass the buck or dodge blame – they’re happy to take responsibility, fix the problem, and move on.

7.         Their thinking is flexible. 

Successful people have firm values but flexible thinking, adjusting their sails depending on how they wind blows.  They make constant changes to adjust to their ever-changing environment.

8.         They communicate effectively.

They communicate efficiently with simple, clear, and concise messages.  This also includes active listening skills – a vastly undervalued skill.    

9.         They surround themselves with the right people.

Successful people don’t fill their lives with negative, complaining, or distracting people. 

10.       They network.

Other than working hard, networking might be the most important practice for mega success.  As the saying goes – your network is your net worth.  I still think they should teach classes on networking in high school and college! 

11.       They are self-aware.

People who accomplish great things in life are confident but not cocky, have a good assessment of their own strengths and weaknesses, and have a high-self worth while still remaining humble. 

12.       They create instead of consume.

This is fascinating – instead of just amassing and worshipping material things, successful people always have the impetus to create something themselves, whether it’s a new business, building a house, or forming a non-profit.  Creation is one of the processes held in highest esteem by high achievers.

13.       They work hard.

“Opportunity is missed by most people because it is dressed in overalls and looks like work.” - Thomas A. Edison

14.       They’re curios and eager to learn.

Learning and being inquisitive is a lifelong journey for successful people, and they invest in themselves by reading, going to training workshops, and seeking out mentors.

15.       They stay relaxed.

Successful people stay calm, balanced, and keep a healthy perspective in their lives.  This demeanor - not getting too high or too low - is so important once challenges, adversity, and stress come their way.

16.       They live in the present moment.

They key to success- and happiness – is to always be fully present and immersed in the moment.

17.       They’re persistent.

Successful people suffer the same setbacks and disappointments as the rest of us – if not many more – but they understand that their success is earned by bouncing back.  “Fall seven times, get up eight,” as the old saying goes.

18.       They want to improve on the status quo.

Successful people don’t accept the world as it is – they endeavor to change it for the better.

19.       They have a positive relationship with time.

Time stops for no man or woman, but successful people use time to their advantage instead of squandering it or letting it pass them by.  They schedule, plan, and prioritize their way to a “routine of ascension.”

20.       They’re optimistic.

They’re perpetually optimistic, enthusiastic, and never give up their positive attitudes.

21.       They stay focused on one task.

Psychological studies conclude that multi-tasking is a myth because the human brain can only fully focus on one thing at a time.  Successful people know this and don’t try to juggle – they fully engage with one task and when they complete that, only then do they move on.

22.       They have energy and physical stamina.

This trait is usually forgotten, but successful people work long hours and expend incredible amounts of energy day after day for the long haul.  So they take care of their health by exercising, eating right, and adopting healthy habits that keep their energy up.

23.       They don’t shy from conflict.

Instead of being people pleasers and avoiding conflict, they understand it’s a healthy and necessary function of growth.  They aren’t combative or aggressive, but firm and assertive and willing to hash it out when needed.

24.       They gladly put aside their ego.

Successful people want to be on the best team possible.  They always want to surround themselves with the smartest and best people without seeing this as an affront to their own ego.

25.       They’re sensitive to others.

They say the hallmark of genius is that they can consider two opposing viewpoints at the same time.  Leaders and succeeders can do the same with people, having empathy for others by adopting their viewpoints. 

26.       They’re ambitious.

Of course ambition and drive are common traits of successful people, but more than just amassing wealth, they want to build something bigger than themselves and make lasting changes that help people.

27.       They look for solutions.

The desired outcome or goal is always in mind to keep them focused and guide them as they work.  Instead of getting hung up on the minutiae of the process, they’re constantly focused on the target. 

28.       They have specific training, knowledge, skills, and talents.

Instead of just being generalists, high achievers invest in the education or training to become the best at one single thing.

29.       They stop and smell the roses.

No matter how busy they are, successful people schedule time off to spend time with their families, see friends, exercise, unwind, and have fun. 

30. They have fun!

Through all that hard work, discipline, and achievement, successful people always have fun.  They embrace that it’s all about enjoying the journey, not the destination.

Does the average person really understand credit?

I came across this info graphic today and wanted to share it with you.  It illustrates the need for education and a better understanding of credit and credit scoring.  Blue Water Credit is happy to help!

In a random survey of 1,000 Americans:

20% of respondents admitted their knowledge of credit score was poor.

71% failed to answer a question about how companies and service providers use credit score.

Only 59% of Americans consider themselves to be highly knowledgeable about personal finance.

The majority of those polled agree there should be a ban on an employer’s right to use a potentially employee’s credit report in the hiring process.

Only 50% have checked their credit score in the last year.

The majority of those polled were confused about how credit score is determined – thinking that employment history, interest rates on current debts, and personal savings were factors.

Almost 40% thought that their age was a factor, and 1 in 4 thought the state they lived in was a determining factor!

20 Surefire ways to muck up your credit score.

1. Pay late.

Even missing a bill’s due date by a few days may trigger a 30-day later reporting, which will damage your score and take a lonnnnnng time to come off your credit report.

2. Not pay at all.

Of course if missing one payment is bad, not making it at all magnifies the damage to your credit.  A 90-day late is where things get really serious and your score may sink like a stone.

3. Max out cards.

One of the determining factors of your score is the ratio of available credit to your balances.  So if you max out your cards, even if they are in paid on time, your score could be affected.

4. Have an account charged off.

Generally after a 90-day late, the next step is that the credit card company/bank, etc. charges off the debt, sending it to a third party for collections.  This further damages your score.

5. Be a cosigner for someone who doesn’t pay.

If you cosign for someone else’s loan, whether it’s a car or an apartment lease or an installment loan, you are jut as responsible for paying the debt as they are!  That means you better make sure they are paying on time because if they slip up, your credit will be affected – and you may not even realize it.

6. File bankruptcy.

Filing a Chapter 7 or 13 Bankruptcy is one of the most damaging events to someone’s credit score.

7. Foreclose on your home.

The other is foreclosure, which hurts your score for a prolonged period and in some ways is more damaging that Bankruptcy.

8. Get a judgment against you.

If you don’t pay your debt obligations, your lender or third-part collection agencies may take you to court, trying to secure a judgment for the amount you owe (plus late fees, penalties, and court costs.)  

9. Apply for new credit like wildfire.

If you start filling out credit card and loan applications frequently in a short period, it signals financial desperation and risk to the credit scoring algorithms, and your score will go down accordingly.

10. Have no mix between credit and installment.

Remember that your credit score is calculation based on a mix of different types of credit – mortgage, installment, revolving, credit cards, etc. so make sure to overload on just one type.

11. Close old credit cards in good standing.

By cancelling a well-seasoned credit card or credit line that was in good standing, you’ve just effectively erased a positive track record of paying on time, so your score will go down as that’s taken out of the equation.

12. Rent a car with a debit card.

When you rent a card with your bank card, not credit card, they run a hard credit check to make sure you’re a good risk, which could lower your score.

13. Take payday loans, cash advances, or finance through rent-a-centers.

All credit is not created equal, and when you take out loans that are deemed risky or on the lower strata of the economic spectrum, it could hurt your score.

14. Finance a major purchase.

Additionally, when you finance furniture, boat, timeshare, or other big purchases outside of the big three – house, car, credit cards – it signals some risk to the credit bureaus.

15. Try to get slick with balance transfers.

Too many people try to outthink the credit card companies, taking out 0% interest or cash-back offers and moving balances around to stay one step ahead.  That works…until it doesn’t work, and at some point it always doesn’t work, leaving you with a big mess.

16. Get a new cell phone.

Of course we need a new phone from time to time, but be aware that many of the cell phone companies run a hard credit check when you apply, which could hurt your score.

17. Open an account at a credit union

Likewise, credit unions run hard credit checks when you open a new account.  We love credit unions for their service and great rates, but inquire if they’ll be running a hard credit check before you get started.

18. Not using your credit at all.

If you don’t use it, there is no established good payment history for the credit bureaus to judge you by!

19. Close cards with available credit. 

When you do this, you mess up your ratio of debt owed versus available credit, which could negatively affect your score.

20. Dispute credit cards.

This may come as a surprise, but even disputing an account on your credit report may lower your score, at least temporarily.  That’s because when it’s in dispute, the bureaus will remove it from consideration in their algorithms, which may erase a positive history, throw your debt-to-available credit out of whack, etc.