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How the Wealthy Think About Money – Change Your Money Mindset

Becoming a master of money is dependent on mindset more than anything else.

The wealthiest people in the world think differently about money—and it pays off.

That’s what self-made millionaire, Steve Siebold, tried to capture when he interviewed over 1,200 of the wealthiest people in the world over the course of 26 years.

From his research, he explains that becoming wealthy isn’t about “the mechanics of money, but in the level of thinking that generates it.”

Siebold compiled his findings in his book named How Rich People Think.

His insights tell us a lot about how the wealthy think about money, and how we can apply the same thinking in our own lives.

Here are 6 of Siebold’s top findings with exact methods to put these mindsets into practice.

Money Mindset 1. The wealthy believe being rich is a right, not a privilege

wealthy man in suit

While the general public believes being rich is reserved for only a lucky few, the wealthy believe it is a right. They believe that true financial wealth is possible for them.

To the rich, wealth isn’t something far in the distance or something that’s impossible to achieve.

They see wealth as something available and attainable.

Siebold writes, “This distinction in thinking leads the middle class to the lottery and the world class to work.

Put the thinking into practice:

  • Eliminate thoughts that tell you wealth is far-fetched or that it’s only available to a select few.
  • Begin believing that wealth is truly possible and available to you.

Money Mindset 2. The rich see the value in putting themselves first


Average people tend to believe that selfishness is a vice, not a virtue. The wealthy see it differently. They believe acquiring money is an overall positive experience—and a way to help others.

If you’re not taking care of you, you’re not in a position to help anyone else,” explains Siebold.

In other words, the rich work first to provide for themselves and make themselves happy. They don’t carry a false notion that they’re going to save the world. But by accumulating wealth and feeling secure in themselves, they are, in turn, able to help others more frequently.

Consider the Bill and Melinda Gates Foundation and its high level of philanthropy. Bill Gates, the founder of Microsoft and often ranked as the number one richest person in the world, has donated over 30 billion dollars to the foundation in order to fight poverty, disease, and hunger.

So although many of the richest people do focus on themselves in order to build their businesses and bank accounts, it’s allowed them to give back to others in a way they never could have done otherwise.

Put the thinking into practice:

  • Steer away from the guilty thinking that putting yourself first is a bad thing.
  • When you spend time working hard and making good investments, you’re designing a better life for yourself and everyone around you.

Money Mindset 3. Wealthy people aim to acquire specific knowledge

wealthy mindset: learning

The average person thinks that riches await them at the end of a college or graduate degree.

But many of the most successful people have little formal education.

Take Mark Zuckerberg and Richard Branson, for example. Zuckerberg dropped out of Harvard and Branson stopped school when he was just 16. Both of them went down a path less travelled and became extremely wealthy.

As Siebold writes, “The masses are convinced that master’s degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness.”

In this way, the wealthiest people seek specific knowledge that is crucial to their success. Maybe instead of enrolling in a master’s degree program, they take an online class on how to build a business. Or maybe they seek ways to make smart market investments that pay off tenfold.

Put the thinking into practice:

Think hard about the next financial goal you have. What will get you there? Is it a money management course, an entrepreneurial conference or a coaching session at your job?
Put the steps in place to gain the exact knowledge base and experience that you need to achieve your goal.

Money Mindset 4. The rich look to the future

money mindset: look to the future

Instead of longing for the good old days, the wealthy set their focus on the future.

People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression,” shares Siebold.

On the other hand, rich people bet on themselves and their futures. They take action and risks to achieve their dreams and goals.

Successful people don’t spend their time thinking about what could have been, but what could be.

Put the thinking into practice:

  • Spend time every month thinking about your goals.
  • Write them down along with specific action steps to make them happen.

Money Mindset 5. Rich people think logically when it comes to money


One of the biggest money mistakes is to use emotions during a decision-making process. The rich don’t lean on their emotions. They rely on facts and information to make their money choices. So instead of becoming nervous and making an emotional decision with their businesses and investments, wealthy people bring themselves back to the facts.

Siebold explains, “The world class sees money for what it is and what it’s not, through the eyes of logic.”

Put the thinking into practice:

  • When making money decisions, be sure to do ample research.
  • Converse with smart colleagues and acquaintances before making any big moves.

Money Mindset 6. The wealthy set high expectations

wealthy mindset

Most people expect to struggle or to never have enough money.

The wealthy expect that they’ll make more money and be successful.

Not only do the wealthy set high expectations, they’re up for the challenge to make those visions happen.

Siebold expands on this concept: “No one would ever strike it rich and live their dreams without huge expectations. Ancient wisdom says you get what you expect, yet many people decide to limit their lives to middle-class mediocrity in an effort to protect themselves from failure.

When we think big, and expect big, we are more willing to work for our goals and see that success is truly possible.

Put the thinking into practice:

  • When you think of your future career or financial goals, stretch yourself by thinking a little bit bigger.
  • Set a higher expectation for yourself by writing down a financial goal that pushes you.

If you’re ready to let go of your financial stress and set bigger financial goals, consider a debt consolidation loan. We can help get you back on track and in a place to think clearly about money—the same way wealthy people do. Apply today!