I went from living in my parents' basement to earning $1 million — here are the 10 habits that helped me do it

Flickr / Huw Thomas

I remember sitting in a cold and dusty basement, searching for the habits that could change my life.

Being 21 years old, I was ready to take my life to the next level, but I felt stuck for three reasons: I lived at my parents' house, I had an $8-per-hour job, and I was enrolled in a never-ending MBA program. Deep down inside, I knew I had to escape. However, I wasn't going to run away from myself, which was something I always did.

This time, I was determined to make a change and I was deeply inspired to become successful, but I didn't know what to do or where to start. However, I firmly believed that if I changed my habits, my habits would change me. Instead of fooling around with miscellaneous activities, like sports and television, I decided to take up new habits, like reading books and giving speeches.

These habits led to a succession of positive results. Professionally, I became more competent. Personally, I became more confident. This realization that competence breeds confidence was the pivotal point that changed my life. It enabled me to reach the acme of success I now encounter, allowing me to create wealth and inspiration for millions of people.

Moreover, it came at a great sacrifice. These habits that I created were the anchors that made me who I am today. Therefore, here are the 10 powerful habits that will make you a millionaire:

1. Simplify your words.

How well do you spread your message? Millionaires know how to share their message in simplest terms. They use their words with precision and possess deep meaning in what they say. Personally, I peruse the dictionary every day, but I would never attempt to use every word I know. By speaking pompously, many people exterminate their opportunities. In short, never drown people in the sea of verbosity. 

To learn to speak with ease, join your local Toastmasters club to brush up on your communication skills. Unfortunately, too many people get lazy with their communication and subtly conform to the habits of others. However, millionaires diligently work on how to improve what they say and seamlessly find easier ways to say it, whether it's verbally or written.

2. Abandon the old.

Before you are able to face the new, you must relinquish the old. If you want a new car or house, then bless the old one and search for the new. When you want to achieve a positive mindset, you must get rid of the negative one first. To abandon your negative habits, you must replace them with positive ones.

I realized this great habit one day as I was feasting on a couple cheap burgers at McDonald's. With great disgust, I ventured out to find the finest steak houses in the area to seek new and delectable experience with my meals. Instead of indulging in $1 burgers several times a week, I was happier to splurge my money on a robust $100 steak once or twice per month. 

We are what we repeatedly do. Therefore, excellence is not an act, but a habit. - Aristotle

3. Set daily goals.

Every day, I set my goals on paper. This is an inspiring habit that I promise to keep for the rest of my life. Whether you're writing your financial projections, planning your weekly tasks, or scheming new ways to build your empire, you'll want to procure a daily goal-setting habit that will give you momentum on a daily basis.

When you set your goals every day, it allows you to prioritize and keep "first things first." Prioritization is doing first what matters most. Instead of pursuing $100 actions, this habit will promote you to embody $1,000 activities. Once you accumulate more profitable activities in your day, you'll add money to the bank, making you a millionaire in the process.