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How the rich think about money

By Judy Martel · Bankrate.com
Monday, September 17, 2012
Posted: 6 am ET

It's not just their money that makes the rich think differently from everyone else. For self-made millionaires, the very reason they have their wealth is rooted in the way they think, according to Steve Siebold, the author of "How Rich People Think."

Siebold recently articulated some of those differences in an interview with Business Insider. Among his insights about the rich is that they're not afraid to be viewed as selfish because they say they can't help anyone else until they help themselves. Here are five other differences, according to Siebold:

  1. They take action. Thinking that the government or the lottery can bestow wealth will only keep you in poverty. The rich believe they make their own destiny.
  2. They don't believe education is everything. Specific, marketable knowledge is more important for earning money than a higher degree.
  3. They view money logically. Instead of taking an emotional approach to what money can bring, the rich see it as a tool to gain more opportunities and take more risks.
  4. They set the bar high. While average people may dwell on the past, the rich set huge goals for the future and expect to meet them.
  5. They live below their means. This is perhaps among the most intriguing differences: The rich believe that if they're wealthy enough, they can afford to live below their means.

In your opinion, what are some of the other ways the rich think differently from the average person?

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