Mentality Differences Between Rich People And Average People
You must have thought hundreds of times about what tells a self-made millionaire or a successful entrepreneur apart from an average person struggling with finances. Yes, someone might have been born lucky, in a rich family, with a lot of heritage both in real estate and business, but in the end, that isn’t what makes the difference between a rich person and a poor person.
What Steve Siebold, the author of “How Rich People Think”, found out after interviewing millionaires around the world for nearly three decades, was that rich people distinguished from poor people in their way of thinking much more than in their way of doing things. In the end, it was less about what they did with their money and all about their mentality.
Rich People Think Selfishness Is A Virtue
Average people think that selfishness is a vice, and see selfish behavior as something negative. According to Siebold, this way of thinking is what is making them poor.
It’s not about not paying attention to what others need, but it’s about taking care of yourself and doing things in order to make yourself happy. If you don’t give yourself what you need for happiness, you won’t be able to help properly anyone else.
Rich People Have An Action Mentality
Poor people believe that becoming rich is a matter of luck. Some people pray for prosperity or simply wait for someone else (God, government, boss, spouse) to make them richer. This way of thinking only postpones real actions that can actually change one’s financial situation.
On the other hand, rich people have an action mentality. Meaning that they are focused to solve their problems instead of complaining about them. They are ready to act and change what is bothering them or making them less rich.
Rich People Value More Specific Knowledge More Than Formal Education
The truth is that most of the rich people actually don’t have a lot of formal education. Or even if they have, it isn’t what made them rich. What made them more successful than others is their specific knowledge.
What they invested their time is was the acquisition and the sale of the specific knowledge they were passionate about. Rich people don’t believe the doctorate will pave your way to wealth.
Rich People Focus On Future
Rich people don’t complain about their present or don’t cry over the good old days. Instead, they think about their dreams and goals and are trying to project what they want in the future.
Thinking your best days are in the past, instead of in the future (or why not, now) won’t really help you get any richer. Also, by concentrating on the past and negative things that happened, you are increasing the chances of becoming depressed.
Rich People Think About Money Logically
Instead of letting money trigger their emotions and fears, rich people think about their money logically. They don’t apply a scarcity driven approach in which they only think about earning money as a huge struggle that will only enable them to retire comfortably.
Rich people see their money as a critical tool that will open them new options and opportunities.
Rich People Love Their Job
Maybe this is one of the most drastic differences in the mindsets of rich and average people. Average people usually complain about the job they are doing, and they generally don’t like what they do in life. On the other hand, rich people follow their passions and look for ways to get paid for doing what they love doing.
In order to get rich, you don’t have to take jobs you don’t enjoy. Work smart, not hard. Find something that sparkles a fire in your heart and work for it.
Rich People Don’t Set For Low Expectations
Instead of lowering their expectations in order to not get disappointed with their achievements, rich people usually go higher and approach their goals as challenges.
In order to live your dreams, you have to have big expectations, although your psychologists or other psychotherapists might not agree with it.
Rich People Use Other People’s Money To Make Money
It is a common belief that you need money in order to make money. And while that is true, it doesn’t have to be a limitation for you. How? Well, you don’t have to use your own money if you don’t have it.
When they believe their business is worth investing in, rich people go out and ask relevant people for it. They know that if their business turns out to be profitable, they will make up for the investment, and they will still have their pockets fuller than before.