Average People vs. Rich People Part Five

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21 Major Differences in the thinking of Average People vs. Rich People

 Steve Siebold spent nearly three decades studying and interviewing millionaires to find out what unique features made them different than ordinary people. What he found was quite interesting. In almost all cases the single biggest difference other than the obvious bank accounts was the thought patterns and processes of the average people vs. rich people. He published his findings and discovery in his book titled “How Rich People Think.” These 21 major differences are points that he brings up in his book and I recommend checking it out.

In the earlier parts of this series we began looking at why there is such a disparity between average people vs. rich people. It isn’t just in the bank account. The big differences lie in the thinking and decision making that direct the actions that result in a big bank account. So it makes sense that if you want the big bank account you have to undertake the specific actions that the rich use to create it. And first there has to be a ‘rich thinking’ to define and guide those actions.

The 21 Major Differences In The Thinking Of Average People vs. Rich People continued

15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained. Wealthy people don’t put a lot of value on formal education (that is borne out by the noticeable number that never attended or completed college) –  they do prize learning and they are consummate students. They continue to become informed long after their college days are over.

The average person reads novels, entertainment and leisure magazines and the tabloids. Entertainment and escapism fills the free time of the average people vs. rich people spending their free time at seminars, researching investments and learning how to be good stewards of their money.

Remember that education on its own, without application and action is merely entertainment.

 16. Average people think rich people are snobs and exclusive by nature. Rich people are just making sure that they surround themselves with like thinking, positive people.People tend to be a reflection of the ten closest people that they spend time with. Given what was said earlier about the ‘haves’ and the ‘have nots’, it is no surprise to find that people gravitate to other people that they feel most comfortable with. The rich are even more pointed about it. They know that the negative money mentality of the average people is poisonous to success, and that spending time with average people will cause you to become average as well.

The same is true for anyone aspiring to become rich. They must surround themselves with people that are rich, or who also are learning to become wealthy, and who are on the way to becoming wealthy. They soon learn that there is no value in learning about doom and gloom and being entertained by the sensationalism that the average people seem to thrive on.

Average People vs. Rich People

17. Average people focus on saving. Rich people focus on earning. One of the key differences in thinking about money involves the creation of it. The average people believe that money must be earned and that is directly tied to wages. Wages must then be saved and hoarded while focussing on being frugal. The true irony is, while they are clipping coupons on one hand, they are purchasing brand new toys with the other squandering much of the money they have ‘saved’.

In contrast, the wealthy look for ways to earn more money and worry less on what they are spending on toothpaste and pasta. Even during a ‘cash flow crisis’, the rich focus on the big money and how to earn more of it, rather than on the nickel and dime saving that the average people employ.

Average people have a hard time seeing beyond the current situation that they are in, and as a result it takes them forever to overcome a financial setback such as losing their job. Rich people rely far less on their jobs and instead focus on their investments and ways of creating more money, rather than worrying about every penny that they currently have.

Till Next Time….

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Sigrid McNab

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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