---
title: '6 Habits That Made Me a Millionaire'
source: 'https://youtube.com/watch?v=xerljhrXaxw'
video_id: 'xerljhrXaxw'
date: 2026-08-05
duration_sec: 794
---

# 6 Habits That Made Me a Millionaire

> Source: [6 Habits That Made Me a Millionaire](https://youtube.com/watch?v=xerljhrXaxw)

## Summary

Wael El-Salouki shares six personal habits that transformed him from being broke and in debt to achieving financial comfort. He emphasizes the difference between financial education (learning) and financial literacy (implementing), and provides practical steps for managing money, automating savings, and adopting a long-term mindset.

### Key Points

- **Monthly Money Review** [01:02] — Dedicate one day a month to review your finances alone. Check where money came from and went, assess progress toward financial goals, and set a goal for the next month.
- **Implement One Thing Daily** [03:08] — Each day, pick one piece of financial advice or knowledge and implement it that same day. This turns passive learning into active financial literacy.
- **Automate and Divide Money** [04:20] — Have at least three bank accounts: one for income/spending, one for savings, and one for investments. Automate transfers so a percentage of salary goes to savings and investments before spending.
- **Spend on Priorities** [06:57] — Write down 3-5 financial priorities with estimated costs, then compare with actual spending from bank statements. Identify and cut unnecessary expenses to align spending with goals.
- **Think Long-Term** [09:08] — Retrain your mind to accept that wealth building takes time. Avoid instant gratification and focus on long-term goals, like investing monthly to become a millionaire over decades.
- **Money Isn't Everything; Give** [10:14] — Understand that money is not the ultimate goal. Donate regularly, as charity does not decrease wealth. Giving increases blessings and can lead to greater financial provision.

### Conclusion

Adopting these six habits—monthly reviews, daily implementation, automation, priority spending, long-term thinking, and giving—can transform your financial situation. Consistency and a mindset shift are key to achieving financial freedom.

## Transcript

completely broke, and not only that, but in certain situations I was in debt or borrowing money from my friends or relatives. Thanks to God, today the situation has completely changed, and I have reached a very good and comfortable financial position. Of course, there are two aspects to this. The first aspect is that I worked and created
income streams, businesses, and many other things, but in my opinion, this is not the aspect that was able to radically transform me. The second aspect, which we will talk about in this video, is the thing that I actually see as having brought me, thank God, to financial comfort or financial freedom. I
know that you have seen many videos that talk about money, how to deal with it, how to improve your income, and all that, but you must understand that there is a very big difference between sitting and learning these things and actually implementing these things practically. Learning
these things is called financial education, but implementing them is financial literacy.  That's why in this video we want to talk about six habits I personally adopted to change my situation from someone who was completely broke to someone who, thank God, is financially comfortable. So let's not waste any more time.
Welcome to a new video with Wael El-Salouki. Let's start by praying for the Prophet Muhammad, peace and blessings be upon him. As usual, we want to reach one million subscribers on the channel this year, so don't forget to like the video
and subscribe to the channel now. The first habit we'll talk about, and I'm sure 99% of the people watching this video don't do it, is to dedicate one day a month to looking at your money. Here's how it works: you choose one day a month, and on that day, you'll be
completely alone. You'll put away your phone, put away everyone, including your friends, and use your laptop, paper, and pen or an Excel sheet to look at all your money. The goal of  Today, you need to examine your financial situation and understand everything about it. Understand how much money you've saved, where your money
went last month, and where it came from. I know most people do n't do this, and I also know many people think their income is too low, so this whole thing is too silly to apply many people think their income is too low, so this whole thing is too silly to apply
third type who thinks everything is already sorted out in their head, so they don't need to look at it. Whichever of these three you are, you need to do this every month. I want to tell you that when we give financial advice, we teach people to do this every day. What you might not
understand is that when you do this, you discover many gaps in your financial situation. You discover where you're spending your money and where your income is coming from, and you learn how to either increase your income or reduce your expenses. Within this framework, I want you to focus on three key points.  The
first thing is to review your spending over the past month. You need to know where your money goes and whether you had the opportunity to reduce those expenses. The second thing is to see if you're moving towards your financial goal. For example,
if you started the year saying you wanted to save 100,000 pounds by the end of the year, each month when you do this, check if you've actually added to your savings and if you're on track. The third thing I want you to do is set a goal for the
coming month. So, today you did this, and in 30 days you'll do it again. Set one goal, for example, "I'll reduce my expenses," "I'll increase my income," "I won't spend money on anything bad." This goal will be what you're striving
for in the next month. Trust me, this is the key.  The simplest thing we have in today's video, and something you can start right now, is the second habit we'll talk about. It's a habit that will benefit you throughout your life, and it's choosing one thing you learned each day and implementing it. Let me explain. I
lot of educational videos, videos like the one you're watching now, and you listen to podcasts, read books, and take courses. You do a lot of things, but unfortunately, as humans, we know how to absorb this information, but we don't really know how to benefit from it or
implement it. So, the second habit I've taught is that every day, from everything I've seen and learned, I choose just one thing and go and implement it that same day. For example, in this video, we mentioned six habits. The previous habit was about spending
money. So, when this video finishes, you can...  Sit down and talk about money today, or choose one of the following habits we'll discuss and implement it today. This way, you'll have gained something useful from the day, not just random information that pops into your head. You'll have
actually implemented something beneficial. And if you do this every day of the year, you'll learn 365 new things every year. The third habit, and this is a very important one that we often underestimate in the Arab world, is automating your money or dividing it up. Let me explain
automation. We all tend to have only one bank account, as if we're afraid to open multiple accounts for fear of problems. I want to tell you that everyone needs to have at least three bank accounts. The first bank account is the one where
your income is deposited, whether it's your salary or a company- related income. Whatever the case, if the account where the money is deposited is the same one...  The money you're spending from, you're probably spending more each month than you should. Not only that, but you're mostly not saving or
investing it. Basically, it's like a piggy bank; money just pours in and you blindly reach for it and spend it. This is completely wrong. This is where the second bank account comes in. When your completely wrong. This is where the second bank account comes in. When your
20,000 pounds, the first thing you should do is transfer a percentage of it to the second account. This second account is specifically for saving money. So, each month, you'll be taking, say, 20% of your salary and
putting it in this second account. You don't spend any money from this second account at all. So, if you happen to spend all the money in your second account at the end of the month, thankfully, you've saved money in the second account.  The second account isn't for spending money, but so that at the end of the year you can say, "
This year, I saved such and such amount." The third bank account is opened to invest our money. In other words, when you receive your 20,000 EGP salary, you take 20% of it, which is 4,000 EGP, and put it in the second savings account. You then take another 20%,
another 4,000 EGP, and put it in the investment account. Of course, this investment account might not be a bank account; it could be an investment fund. It doesn't matter. The important thing is that there's a place where you put the money you're supposed to be investing every day. I know you're underestimating what I'm saying
and feel that, in reality, nobody does this. Believe me, nobody in your circle nobody in your circle is a millionaire or financially secure. We really do have a deficit in financial literacy, so I'm just trying to get this point across to you. And to end this habit...  We can
automate this if the bank allows it. For example, if you have two accounts at the same bank, and that bank has this feature, you can ask the bank to automatically deduct a certain percentage of your salary as soon as it's deposited at the beginning of the month and put it into your second account.
The advantage of this is that you don't have to remember every month to send money and worry about whether you sent it or not. This automation means that instead of receiving 20,000 pounds in your account, at the beginning of the month (your salary), you know you're receiving
12,000 pounds, you understand and accept this, and you manage your life with that amount. At the end of the year [laughs], you discover you've saved 48,000 pounds and invested another 48,000 pounds. Now, the next important habit is that you must spend your money on your priorities, not just on
anything. We all claim to have...  Let's car, a house, a villa, or even take a nice trip. Now, if I asked you to
show me how you spent your money in the last 30 days, the question is: would we find that the things you spent were related to the goal you initially set? The answer is 99% likely to be no, because we actually spend our money on going out, food, drinks, gifts, and things like that, all of which have
we want to achieve. We're programmed to think that if the goal is a car that needs, say, one or two million pounds, we definitely have to do something to get that money right away so we can buy it, or we'll buy it on installments and end up in debt and in a bad situation. So,
the question is, how do we implement this practically? I want you to get a pen and paper now.  So, you get your bank statement for last month, for example. In the first half of the paper, I want you to write down three to five priorities that you want to achieve. For example, as Wael, I want my health to improve. I want to spend more
time with my wife and children. I want to take a nice trip at the end of the year. I want to educate myself more in a specific field, for example, by taking a course in a specific field. So, these are the four things that I will write down. I want you to write down the things that you want to do, and I want you to write next to each
one how much it will cost you approximately. For example, if I want to take care of my health, I know that a gym membership is 2000 pounds a month. If I want to spend more time with my wife and children, I know that we will go out every week, and that this outing costs us, for example,
1000 pounds. So, that's 4000 pounds a month. And so on. I want to take this particular course to learn this particular thing.  Okay, so the course costs this much, and the books I'm going to buy cost this much, and this is the budget. This is the first part of the paper in front of you. Now I want you to move on to the
second part of the paper. In this second part, you'll look at your bank statement and see what you actually spent your money on. You'll find that, for example, you spent 2000 or 3000 pounds on some clothes you bought, or you spent money on a specific meal, like a steak you wanted to eat but it was expensive, or you
bought something new for the house or office— whatever things you usually spend your totals of the figures in the first half of the paper and the totals of the figures in the take the money you spend on things that aren't
Maybe these things were things you wanted at the time, but the reality is that if you had spent  If your money was in the right place, you'd see it by the middle or end of the year, and you'd feel incredibly happy. That's what
we're trying to achieve. Now, the fifth habit is a bit more of a mental one, but pay close attention. You need to retrain your mind, your way of thinking, to be able to think long-term, in the future. Unfortunately, we're programmed to get
whatever we want. If we crave food, we order delivery right away. If we're bored, we grab our phones, scroll through them, and get what we want instantly. Unfortunately, this isn't entirely logical when it comes to money. If you want to build wealth or make millions, it's
based on the idea that you need a very long time. So, if I told you today, for example, that if you saved 5,000 pounds every month and put it in an investment fund, you'd be a millionaire in 25 years, and your response would be, "Wael, I don't want to wait."  25 years to become a
millionaire? It's not worth it. I'll live as I am today, that's all. But think about it: do you actually have a plan today that will get you to become a millionaire one day?  The answer is no. Money and wealth won't be achieved unless you dedicate a significant amount of time to the process, and while we all dislike this, it's how it
actually works. The bottom line isn't that the system itself is flawed; rather, your brain needs to be reprogrammed to accept this long-term perspective. If you learn this, you'll find yourself becoming more balanced, developing greater patience – all positive qualities you should possess. Now, let's
move on to the last habit, which, in my opinion, is the most important. I'll divide it into two parts. First, you must understand that money isn't everything. Second, you must donate as much as you can. Our problem is that we believe money is everything, or the most important
thing in the world. In reality, money can be the biggest temptation in our time because we all want things that are wrong, problematic, or for the wrong reasons and with the wrong intentions. And money is...  The reason we get all these things is that we run and strive after
money, but money is designed in such a way that if you chase after it, it will never come to you. So try not to become attached to money because this destroys your mental state and your way of thinking, and it also destroys your striving. The journey of striving itself becomes when you don't want to work and you can't work because you don't see
immediate results. And here comes the second aspect, which is the aspect of giving. No matter how much money you have, no matter how much your income is, even if it barely covers your needs, believe me, give. Believe me, even if your income isn't enough and you give even a single pound, your life will change. Look, let me try to explain a quick point about sustenance today. If
I'm a young man, completely alone, and I earn any amount, let's say my salary is 5000 pounds, if I work hard and strive and think, and then I get married, God Almighty knows that I have a responsibility to provide for this woman, and her sustenance is already written. So if she  Her income is
5,000 pounds and mine is 5,000 pounds, so now this house receives 100,000 pounds. Now imagine we have a child. This child's income is also predetermined; it's already written for him—food, drink, and so on. God is generous, so his income might be 100,000 pounds because his expenses are higher. This house's income, when it comes in one go,
will be 20,000 pounds instead of 10,000. Now imagine there's someone begging in the street or a poor person in your area. Imagine you decide to give this man a monthly sum from your own pocket. God Almighty has enabled you to do this, but He
sees that you are supporting another man. Another man is now receiving money from you, so this man's income is also under your care. Of course, this man is disabled and old and unable to... He works, and his livelihood comes through you. So, God Almighty provides for you more because you
give to this man. And it's not just that. If you open a company and have employees, and those employees work and receive salaries, all of their salaries—their income, their livelihood—comes through you. When God Almighty sees that your intentions are truly good and that you strive for what is lawful, and that
these people are earning a living from this work, their sustenance will come through the income within your company. So, it's truly a beautiful game: the more you give, the more God will give you.
And believe me, there's no arguing about this. And here comes the hadith: "Charity does not decrease wealth." Meaning, no act of charity in history has ever diminished wealth. Wealth doesn't decrease when you give charity. To the point that in the past, people would divide their money in half and give half of it in charity. Let's give charity
outside.  Of course, their faith was strong and their hearts were with them. I'm not telling you to do that, I don't know how to do that, but this is the habit of mine: when I set a monthly amount, I give it away, no matter how much my income is or how much my expenses are. As soon as when I set a monthly amount, I give it away, no matter how much my income is or how much my expenses are. As soon as
God, God has blessed me. That's it, my friend. These are just a few habits, and I swear if you stick to you have a specific habit that you do, you will write it for us in the comments below, and I will see you in the in the comments below, and I will see you in the next video. Yeah.