Unless you’ve hit the jackpot in the lottery or you inherited a huge fortune from a reclusive, penny-pinching spinster aunt, chances are, it will take years—or even decades—before you hit your own version of financial success if you don’t change your mindset. Becoming and staying rich is not only all about doing the hard to earn a million bucks or so. There’s more to it than getting one huge paycheck after another. Your way of thinking and personality make a huge impact in your life. Your daily habits, routines and activities definitely have a lot to do in transforming you from one ordinary guy to another secret millionaire next door.
- 1. The Rich Focuses on Boosting their Income Stream
What keeps the middle-class people remain middle-class throughout their life is that they have this constant fear of losing money and the uncertainty of the future. While the rich know it’s important to save for a rainy day, they, nevertheless pour their energy on investing, reinvesting and facing & overcoming risks. They steer their energy towards thinking of how they could make more money while serving people and innovating their niche market. When economic setbacks trouble the middle class, the rich are quick to focus on the money-making opportunities that they could grab out of the financial ghetto.
- 2. The Rich Thinks Money In Nonlinear Terms
Most of the middle class people believe that trading time for money will make them rich. This creates the belief that making money is a linear process directly connected to time. Nevertheless, wealthy people know big money requires thinking about it in non-linear terms. They’re expert at generating money through ideas that eventually solve problems. And they know that since it’s sky’s-the-limit when it comes to generating ideas, earning money is also as limitless as the heavens!
- 3. The rich work smarter… Not harder
If hard work was the secret to financial success, every construction worker and cocktail waiter should have been rich. For the wealthy, hard work means working smarter to outthink competitors and leverage the collective brainpower of their advisors and the people who work for them.
- 4. For the rich, poverty is the root of all evil.
We’ve been preached that money is the root of all evil. But for the rich, it’s not money that’s the problem—poverty is. World-class thinkers consciously build beliefs about money that serve their best interests and help them develop substantial sums.
- 5. The Rich Think Long-term
While the middle-class people think month-to-month and the very poor people on a day-to-day basis, the rich people think year to year or even on a decade-to-decade perspective. While the poor and middle class people place their mindset on survival, the rich people’s goal is centered on achieving financial freedom.
- 6. The Rich Don’t Really Buy What They Don’t Need
Rich people prefer value for money purchase. They treat every purchase they make as a form of investment and they want to see it to that every penny they pay to purchase something is well worth it.
- 7. The Rich Focus On Debt Elimination
While it’s common for us to incur credit card debts and home mortgages, the rich people are focused on debt elimination—if not minimization. Debts can seriously affect your financial health and it could even undermine your future if you let them pile up.
- 8. The Rich Wake Up Early
Majority of the richest and most successful people in the world get up early than most of us do. Why? They believe that it’s not worth staying in bed for too long. They know the value of time and the many things that they can do and the ideas to generate. In short, they wake up early because they want to do and achieve more.
- 9. The Rich Value of Self-Control
The ability to restrain one’s craving to splurge on something brand new and expensive is one habit that the rich have mastered. Try it yourself. If you want to buy that expensive, brand new dress or that ultra chic gadget, why not let a day or two pass by before buying it? You’ll notice you don’t want it anyway.
- 10. The Rich Build Up People
The richest and most successful people are oftentimes those who help others, if not financially, but emotionally and professionally. Their sense of success does not come by taking advantage of others, but by helping people become successful as well.