1. Wealthy people have an action mentality – Average people have a lottery mentality.
The hope and prayer does not work in the world of finance and wealth. Average people think if they win the lottery and have their one big score, everything will be okay. They are looking for that one big opportunity. Wealthy people take action and know that wealth is built over time, not over night.
2. Wealthy people have the commitment inertia – Average people flake or give up the moment before things take off.
I have seen it all too often when things are going in the right path of someones business, and they give up right before the moment things explode. I know this because I have seen enough explosive businesses take off and know where the tipping point is. Most average people can not see this and quite or give up before things get great or successful. Wealthy people stick through the hard times because they know something is worth the commitment.
3. Wealthy people believe in acquiring specific knowledge – Average people think wealth is driven through a career and formal education.
The old train of thought is to go get a job and career and the company will take care of you. Wealthy people now know that you need to get specific knowledge in the industry or field you are interested and focus on that. Formal education does not provide nearly the qualification you need in this world to live life well – it just gives a taste of what you need to survive or barely make it.
4. Wealthy people take responsibility for their circumstances or situation – Average people put blame on something external.
Wealthy people take responsibility for any situation they are in, whether something bad happened to them, they take the responsibility because they were there at that time and place. The know that the future is in their hands, whereas average people put blame on others. They do not want to feel responsible or would like to feel better by placing responsibility on something external than themselves.
5. Wealthy people focus on the future – Average people think about the good old days and how things used to be.
Focusing on the past is a way for us to feel better about our lives. Phrases like “When I was younger things were…” are typically used by average people. They live in the past and how things used to be better back then. People who have a wealthy mindset focus on the future and look toward improving the future thinking in ways like “How can I make this easier for people” or “How can I solve this problem and make the world better.”
6. Wealthy people think about money logically – Average people see money with emotions.
Emotional and irrational thinking about money is typically the way average people see things. When something comes up financially that is challenging they react with emotions and it brings them stress. Wealthy people think about money logically and rationally. They have a clear mind when making financial decisions. They do not do it when they feel they are in their lower-self.
7. Rich people follow their passions and do what they love – average people earn money doing things they don’t enjoy.
Wealthy people typically do what they love for work. They are not forced to go to work, and at times do not have to, but they focus on their passion. On the flip-side, many average people are forced to go to work at jobs they hate to ensure they get a paycheck every week. They dread the job, but know they have to go anyways. Without their family can’t survive.
8. Wealthy mindset enjoy challenges and go out of their comfort zone – average people stay in their comfort zone and set low expectations.
It is human nature to want to be in our comfort zone. Many average people stay in that comfort zone, they don’t want to or don’t think they change. This confines them to the life that was given to them. Wealthy people enjoy challenges, they like stepping out of the comfort zone, it helps them grow internally, and gives them experience dealing with harder and more difficult issues in the future.
9. Wealthy people use other peoples money to make money and use leverage – Average people believe you need money to make money.
Average people believe if you want to be successful you need money to make money, almost as if they don’t have money, they are stuck. Wealthy people on the other hand, even if they have money, focus on using other peoples money as leverage to make more money from banks, angel investors, or other ways.
10. Wealthy people live below their means – Average people live beyond their means.
Average people typically want to show off their goods such as their new car, expensive clothes, boats, and live above their means. They spend and buy things that they can not afford and therefore are in credit card debit. Wealthy people purchase the appropriate things for their lifestyle such as durable car or comfortable clothing over the name brands to show off – they get things that match their needs – not what they want to show others.
11. Wealthy people find peace of mind in wealth. Average people let money stress them out.
Money often times stresses the middle or lower class – they think of it in a negative way. They feel that money stops them from doing the things they love and want and they constantly thing that money controls their life. Wealthy people find peace of mind in wealth. They think of wealth and money in a positive way where money allows them to do the things they want.
12. Wealthy people would rather be educated than entertained – average people would rather be entertained than educated.
When you walk into a wealthy persons home, typically you will be surrounded by books or with educational material. I know personally I study at least 20 hours a week and value my education as it will be exponentially helpful in the future through many years. Average people on the other hand put more emphasis and value on entertainment than education.
13. Wealthy people focus on creating value for others – Average people focus on trying to make money.
I see many business owners at the start of their career focus on money. The average mindset thinks and focuses about money. How can I make $30,000 this year, or how can I make more money. The wealthy mindset focuses on creating value. How can I solve peoples problems, frustrations, issues, or make peoples lives easier.
14. Wealth people want to surround themselves with good-quality, wealthy, and successful people – Average people think rich people are snobs.
Remember the power of association: You are who you associate with. If you are constantly around people who are positive and push you to grow – you will become better. However, if you are constantly around negative people, who just do the same thing repeatedly, chances are you will stay exactly where have been.
15. Wealthy people focus on investments and earnings – Average people focus on saving.
Many average people focus on saving the pennies that they earn (I call them crumbs) so they can take a vacation or have something they want. Wealthy people focus on taking their money and invest it – allowing their money to make them even more money.
16. Wealthy people take risks at appropriate times – Average people play it safe with money.
Risk is all part of life. Average people play it safe with money and are risk-averse. They try and hold on to every dollar without risking it unless they are in it for entertainment at a casino. Wealthy people embrace risk and know that calculated risks at appropriate times will yield great results.
17. Wealthy people find comfort during times of uncertainty – Average people love emotional comfort.
When things get hard or are uncertain, many average people get emotional or upset. They love to stay in that comfort zone. Wealthy people understand that when things are crazy (such as stocks tumbling), or uncertain that it creates and sets up opportunities to take advantage of.
18. Wealthy people believe poverty is the root of all evil – Average people think money is the root of all evil.
Average people think money is the root of all evil. It stops them from doing things they love and it stops them from living the life they dream. This can be associated with greed – making greed evil. Wealthy people on the other hand, believe that poverty is the root of all evil. From poverty fosters desperation, then people are tempted to steal, cause havoc, or be more criminal.
19. Wealthy people focus on acquiring assets – Average people focus on getting things that are liabilities.
Many people in this world focus on attaining things that are liabilities and go down in value over time such as cars, laptops, computers, ipads, etc. Wealthy people focus on acquiring things that appreciate and go up in value over time such as coins, stamps, stocks, bonds, cds, real estate, baseball cards, etc.
20. Wealthy people have gratitude – Average people are unappreciative.
There are many things we should be grateful in our lives. Wealthy people are appreciative and have a positive mentality and positive emotions at how well they have it no matter what circumstance or how bad they have it financially. Average mentality typically craves, longs, and wants more. They are ungrateful at their current state or situation and have a jealousy mentality.
Often times people think they will be better, give more, be kinder, etc when they have money. But remember; Money only extends you and shows your true colors deeper and more distinctly as who you are as a person.