8 Ways Rich People Think Differently When It Comes To Money

If you take a moment to notice, you will see that in schools we were never told how to make money. To be more precise, we were given no lessons on financial literacy and how crucial it becomes when we grow up. We were taught an array of subjects, but never how things work with money. Well, here are a few fundamentals that the rich and successful follow in order to build their wealth and they can easily be implemented in your daily lives. 1. Money Is Freedom, Not An Evil Poor people think money is evil and can corrupt people. Well, money is everything you want it to be. You can think of it as a liberating idea with which you can travel the whole world, or you may see it as a culprit igniting materialistic desires in you. The choice is yours as you have to make it work in your favor. 2. Save First & Pay Your Bills Later When rich people get their monthly paycheck, first they save a certain portion of their money and then spend what is left. On the other hand, those who do not save well, function on a hand-to-mouth basis. Which basically means spending everything they have on frivolous items and then struggle to pay their bills at the end of the month. It's a vicious cycle, that can be broken, with some amount of determination. 3. Money Should Make More Money © AZ Quotes No one got super rich working their whole life under someone else. If this was the law of nature then most of us and every factory worker would have been pretty rich. The rich know that they must make their money work for them, even while they are sleeping. How? By investing their money. The thing is to make your money work for you. 4. Patience And Long-Term Investments Go Hand In Hand The common man seems short of patience when it comes to investing money for a long period. What I mean by a long period here, is a duration that can go above 10 years or so. The rich have the patience and control over their short-term urges to spend money on anything and everything that comes their way. If you have a private job, then saving for your retirement plan in your 20's is a sign that you are on the right track. 5. Convincing Others To Invest In You Is An Art To Master Rich people think they have to convince others to invest money in them, while the common man thinks he has to use his own money to get anywhere. Now, you may think that any debt is a bad debt. Well, there are both good and bad debts. If you buy an asset with that debt, then it could be good and if you buy a liability then it could be a bad debt. It all depends on what you spend your money on. 6. Delegation Means More Time Which Means More Ideas & More Time To Make Money Most people are of the opinion that they are alone in this and need to work for hours to earn more, while the rich often work in teams. They build trust and delegate the work to their teams. Take any company for instance. The boss delegates the work to his manager, accountant, CTO and so on, so that he has enough time to look for new opportunities to expand his business. That's it. Delegation is the key. 7. Living Below Your Means Is Possible © AZ Quotes If you have the patience to buy a car until you have enough saved for it, instead of just going for it with a 5 year EMI, then you know how to live below your means. It is not necessary to eat out every day, drink every week, or go shopping every month. Most folks think they can spend their money on whatever they feel like, even when they do not need it. However, the rich spend their money logically. They focus on saving and investing rather than buying material things. 8. You Don't Need To Have A Great Idea, Being Good Is Enough Most regular people think they need to have a super smart idea to get rake in the money. While the rich think they need to combine their few good ideas, some of their average skills and work with like-minded people to make things work. They do not wait to be great, they just start wherever they are and with whatever they have.