How Rich People use Psychology to Make More Money

It's not just bank account balances that separate the rich from the middle class. The wealthiest, most successful people tend to think differently.

Hey there , I'm back with a really interesting post this one is the next part of my previous post. If you have not read the last post yet I'll suggest you to go back read the last post by clicking here . The reason why I'm asking you to read the last post is because this one is directly connected to the previous one.

Lets start..

Financially responsible and successful people don’t build their wealth by accident — or overnight. Becoming rich takes serious willpower and long-term vision. You have to be able to keep your eye on the prize of financial freedom, be willing to sacrifice your present wants for the sake of your future and develop good habits to win. Here are some tricks you can start putting into practice now.

They Start Early

As the old saying goes: The early bird catches the worm…or, in this case, gets to retire in style. The sooner you put your money to work, the more time it has to grow. Earning a paycheck, whether you are self-employed or work for a company, means the opportunity to contribute to an IRA, which you should seize ASAP. 

If you’re fortunate enough to get a job with a company that offers a matching contribution to their retirement plan, you need to make it a priority to enroll in the plan as soon as you are eligible. It can be the difference between retiring early and never retiring.

Think about this: If you invested $10,000 and left it to grow for 40 years, assuming an average return per year of 8%, you would end up with over $217,000. But if you waited 10 years and invested $20,000 — twice as much — you would only end up with just over $200,000. 

Rich people understand this and start early.

They set their expectations unreasonably high

While the middle class sets their financial expectations low so they're never disappointed, the rich set their expectations exceptionally high — they're up for any challenge, Siebold says.

"No one would ever strike it rich and live their dreams without huge expectations," he writes. "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."

Once they set ambitious goals, they immediately start looking for ways to tackle them: "Champions don't wait for things to happen, they make things happen."

They think of making money as a game.

Rich people think of business, life, and earning as a game — and "it's a game they love to win," writes Siebold.

"This is the reason millionaires still go to work every day chasing their next success. Money to these people is no more than a gauge that tells them when they have achieved their latest target."

Plus, the excitement of "playing the game" pushes them to continually raise their level of expectation, Siebold explains. "The more excited they get, the harder they work and the more they succeed."

They Create a list of money goals and look at the list every day 

Eighty percent of the wealthy are "obsessed" with pursuing goals, he found. They refer to both daily and long-term goals regularly.

So if you're tired of your bank account never exceeding a certain number, channel the frustration into a concrete money goal, Corley recommends. Write down a list of money goals and put them somewhere that you can them every day.

Personal finance experts say that savings goals should include short-term steps. For example, you could write, "I will put $5,000 into emergency savings this year by setting up an automatic transfer from my checking account into my savings account of $14 each day."

Reviewing those goals daily will keep you focused on the long-term and avoid spontaneous purchases.

They personify money and see it as a friend.

Rich people consider money "one of their greatest allies and friends," writes Siebold.

"It is a friend that has the power to end sleepless nights of worry, physical pain, and can even save their life."

While wealthy people believe money can solve problems and purchase peace of mind, the middle class "sees money as a never-ending necessary evil that must be endured as part of life," he says.

Next one is my personal favorite ..

They tell themselves that getting rich is natural.

The rich believe that "success, fulfillment and happiness are the natural order of existence," Siebold writes. "This single belief drives the great ones to behave in ways that virtually guarantee their success."

On the flip side, the middle class struggles because they expect to, the self-made millionaire explains. "The masses think they aren't worthy of great wealth. Who am I, they ask themselves, to become a millionaire?"

Try asking, Why not me? After all, that's what the wealthiest people do.

Now when you know the tricks ..all you need to do is use them and practice them. ;)