How the rich think differently

In this edited extract from his book, Rich Habits Poor Habits, Michael Yardney reveals 39 ways the rich think differently to the average person.

There is a classic book by Napoleon Hill called Think and Grow Rich. While it was written almost 100 years ago, you will find it on the bookshelf of almost every successful investor. There is a good reason why the book is called Think and Grow Rich and not Get a Job, Work Hard and Grow Rich. It’s because the rich think differently to most people and those who work hard at a job don’t necessarily end up rich.

It’s important to remember that your thoughts lead to your feelings, your feelings lead to your actions, and your actions lead to your results.

In other words, your inside world (your thoughts and feelings) directly affect your outside world (your actions and your habits which lead to the results you achieve).

39 ways the rich think differently

I’m going to outline 39 ways the rich think differently to the average person, because this is what determines their Rich Habits — this is what makes them act differently to most people. Here’s a summary of some of the many ways the rich think differently:

Source: Rich Habits Poor Habits

Where do you fit in?

How often did you find yourself on the left-hand side of this table and how can you get to be more like the people on the right? And, just as importantly, how does this affect your habits and behaviours?

At my seminars, I often ask what the attendees were taught about money when they were young and the list usually looks something like this:

• Money doesn’t grow on trees
• Filthy rich, dirty money
• We don’t deserve to be rich
• You can’t have money and be spiritual
• Rich people are greedy
• You have to work hard to be rich
• You shouldn’t talk about money or show of your wealth

Remember we were told these things as children when we didn’t have the perspective to decide whether they were right or wrong, but many of us have carried these myths into adulthood.

Why not look at the list of the 39 ways of thinking in the table and see which ones strike a chord with you? Of course, you can add any I’ve missed that relate to you. Then work out why you hold on to these beliefs. Do they still make sense?

Now is the time to get rid of any that you can question or that you think are nonsense. Now is the time to discard any that simply aren’t true, that may be holding you back, and are stopping you from becoming rich.

More importantly now is the time to replace them with some new empowering beliefs. Why not write down a new list:

• I deserve to be wealthy
• It’s okay for me to be rich
• I’m going to be wealthy

In fact, choose as many, if not all, of the beliefs on the right-hand side of the previous table and make them your new money beliefs.

Does money buy happiness?

Here’s a money belief you may want to reconsider … money doesn’t buy happiness.

My co-author, Tom, spent five years studying the daily habits of the rich and poor and he found that:

• 82% of the wealthy were happy, while 98% of the poor were unhappy.
• 87% of the wealthy were happy in their marriage, while 53% of the poor were unhappy.
• 93% of the wealthy were happy because they liked or loved what they did for a living, while 85% of the poor were unhappy.
• 0% of the wealthy were unhappy due to finances, while 98% of the poor were unhappy.

Tom also found that money problems can have a ripple effect on your life. They can result in an overall sense of unhappiness, and they can create marital stress, making both spouses unhappy in the marriage. Even worse, that stress can cause health issues and, worse still, it can negatively impact the lives of your children.

On the other hand, Tom found being rich can create an overall sense of happiness, may  improve marital relationships, may eliminate stress associated with money problems – which can improve your overall health – and can enable parents to give their kids a superior education.

Being rich can increase happiness in many areas of your life. Tom’s research found that wealth and poverty can potentially have a domino effect on all aspects of your life, so if you improve your financial condition in life, you may increase happiness in other aspects of your life.

To have more, you must become more

I remember one of my early mentors, Jim Rohn, saying: “If you don’t like how things are, change it. You’re not a tree.”

He also said that becoming wealthy begins with an attitude of gratitude. That’s why I want you to take inventory of all the great wealth you already have.

Go ahead and ask yourself, “What do I feel grateful for in my life?” Take a couple of minutes to write it down.

Now, if you were to show that list to most people around the world they would probably call you wealthy. You see, wealth is a matter of context and perspective that ultimately creates a feeling. Feel grateful for all you have, and you are likely to feel instantly wealthy.

Those who believe they can become rich and are worthy of wealth are the ones who will be, because they act accordingly. People who become rich consistently take the necessary actions that turn their beliefs into realities.

That’s why I now want you to decide that you are worthy of becoming rich. It will be your first step toward greater prosperity. After all, people with difficulties, obstacles and limitations have gone on to become incredibly wealthy — so why not you?

If you think you can, you will. Your attitude will determine your destiny.

→ Related: 5 simple steps to building wealth

Cover image source: pathdoc/Shutterstock.com.

This is an edited extract from Rich Habits Poor Habits by Michael Yardney and Tom Corley (Wilkinson Publishing, $29.99) republished with permission.