Do rich people use credit scores?

They don't ignore their credit score A low score may prevent you from getting a loan if you ever need one. Wealthy people know this and they never, ever ignore their credit score. They are constantly checking their score and do their best to keep it pristine.

cnbc.com - 7 money mistakes millionaires like Warren Buffett and Bill Gates avoid

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There are two things we know for certain about millionaires: They know exactly where their money is going, and they know exactly what not to do with it. If you want to reach millionaire status, the single most important thing you can do is to learn from the likes of the super wealthy, from Microsoft co-founder Bill Gates to Google's ex-CEO Eric Schmidt to Berkshire Hathaway CEO Warren Buffett. Here are seven things you'll never find the world's richest people doing, and how you can adopt their healthy financial habits into your own life:

1. They don't waste money on fees

Rich people know that fees are a waste of time (and money, of course), so the right course of action is to pay their bills on time. They take advantage of features like autopay to avoid late charges for everything from utilities to mortgage to credit card bills. They're also mindful of bank fees. Many banks will charge you extra money for their services, and you might not even be aware of it.Some of the bigger banks, for example, will charge you anywhere from $12 to $15 unless you meet a specific set of requirements, like maintaining a certain average balance in your account. Make it a habit to check your monthly statements for these hidden charges.

2. They don't ignore their credit score

Your credit score plays a leading role in determining your interest rates. A high credit score can earn you a low interest rate and save you thousands of dollars in interest over the life of a loan. A low score may prevent you from getting a loan if you ever need one. Wealthy people know this and they never, ever ignore their credit score. They are constantly checking their score and do their best to keep it pristine. There are a number of apps that allow you to check your score for free and even try to help you boost it. Monitor your score reports on a monthly basis, keep your debt levels low and pay your bills on time.

3. They don't spend impulsively

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Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

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4. They don't fall for marketing ploys

Marketing plots are everywhere, and rich people avoid falling for them by comparison shopping. They appreciate value, but they also look at the big picture and always weigh the benefits of quality versus cost. To adopt the same habit, do your research and consider your bottom line before making a purchase, big or small. By purchasing a more expensive yet well-made item that you'll use for years, you can save yourself the time and money of having to repair or replace a poorly made item.

5. They don't try to beat the market

Billionaire and former Google CEO Eric Schmidt says that short-term trading (a.k.a. buying or selling stocks based on daily market movements) won't make you rich. He always thinks long-term and never tries to beat the market. Warren Buffett also insists on using the long-term strategy. A few days after he released Berkshire Hathaway's annual letter to shareholders earlier this year, the billionaire appeared on television at CNBC and explained why longer-term investment strategies like index funds still stands the test of time.

6. They don't have just one source of income

Having multiple streams of income will help you to generate more money, and rich people never rely on just one source of income. Consider turning your spare car into a ride-sharing business, taking on freelance work, becoming a tutor or writing about areas of expertise. "When I got 'The Tonight Show,' I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal," comedian and television host Jay Leno told CNBC. "I've never touched a dime of my 'Tonight Show' money. Ever. I always had two incomes. I'd bank one and I'd spend one."

7. They don't keep up with the Joneses

cnbc.com - 7 money mistakes millionaires like Warren Buffett and Bill Gates avoid

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Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

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