Top 10 Money Habits

1. Stay dedicated to your financial goals

One habit you need to develop is clarity toward your goals. Your goals can shape your attitude toward whatever you do and put you in the right perspective about your financial life. Lack of clarity is equivalent to having no goals at all.

Developing a habit of being clear about your financial goals will also create a sense of focus, which is the psychological effect of setting goals. Let's assume your aim is to start your own business this year. You'll outline how much funding is required to do that, and how much you want to raise yourself.

2. Overcoming guilt with money.

One habit which keeps a person from growing financially is how he or she feels about money. A lot of people feel guilty, which is why they often find it difficult to discuss the financial terms of a business relationship before starting one.

Develop a positive attitude toward money this year by overcoming any guilt you feel about money.

3. Earn Extra income

The best way to improve your financial life this year is to use your free time to earn an extra income. Start by looking at areas where you can fill a need and earn extra money in the process.

You could freelance for businesses or help people with things they can't do themselves. Khan said he was able to start two small businesses apart from his main job when he noticed he could use his free time to help others. Now that his side businesses are growing, he hires people to help him run the business.

4. Clear your debts a priority.

One of the biggest hindrances to financial growth is debt. The problem is that debt keeps compounding, making it your most expensive liability. Start paying off your debt with each paycheck you earn. By forming this habit, you could become debt-free by the end of 2017.

5. Save to secure your future.

Make saving a habit in 2017. The more you save, the more you'll have when you retire. JPMorgan Chase puts together an annual guide to retirement that provides investment and savings strategies for all stages of life.

6. Separate relationship from business.

A lot of relationships have gone to ruin because of money. In 2017, be careful when forming business relationships. Make sure you know enough about someone before entering into such a relationship. Use background check tools like Check Them or Check People before a first meeting. Entering into a relationship with the wrong person could be costly or devastating to your financial life.

7.Don't see money as Goal

Many people get the notion of money very wrong. Because we see money as the end goal, it affects our orientation about it. See money as what it is and what it's meant to be a tool, a means to an end. What the end is for everyone of us may be different. For most, it might be happiness, while for others it's simply a comfortable lifestyle.

8. Take advice from expertise

Develop a habit of seeking advice before making any major financial decision. This will help you avoid making any decision you'll end up regretting. When you make a habit of seeking financial advice, you'll be less likely to take financial risks that could hurt your lifestyle.

9. Don't Buy without planning

Make it a habit of spending only on things you need. Cut back on impulse buying by weighing your options before making any purchase. When you buy on impulse, you only gain a temporary sense of satisfaction. Once this instant gratification has worn off, what you're left with is a shrunken purse and a tinge of regret, or buyer's remorse.

10. Live below your means.

Many wealthy individuals mastered the habit of living below their means, even before they became hugely successful. A lot of wealthy individuals prefer to live a frugal lifestyle.