It’s How You Think That Will Get You There

Here is Part 2 of some thought provoking and poignant points on the difference between “middle class” and “world class” thinking when it comes to finances from Steve Sielbold’s book, “How Rich People Think.”

1. Middle Class worries about running out of money – World class thinks about how to make more money.
   Instead of concentrating on how not to run out of money, spend your time concentrating and making decisions that will make you more money. Investing, real estate and purchasing things that appreciate, not depreciate, are good examples. Play to win; don’t play not to lose.
2. Middle class thinks about spending – World class thinks about investing. This one I found very true for myself. There was a time when I received some extra or unexpected money and I thought, “Wow! What can I spend this on?” Nowadays, if I come about some extra money, I think how I can invest this somewhere to make more money in the future. It is a mindset that has changed the direction of my financial life.
3. Middle Class earns money doing things they don’t like to do – World class get rich doing what they love.
   It makes sense – hate your job or career and you will never put in the extra time and energy to make more money in it. Do something you love and the energy, creativity and money will increase substantially.
4. Middle Class lives beyond their means – World class lives below their means.
   The book, Millionaire Next Door, is almost totally based on this premise. Spending more than you make can never equal success. Spending less than you make and wisely investing the rest is the recipe for success.

Action Step for You: Read the book, “How Rich People Think.”