InterestingAdvice
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2023-02-08T23:40:00.000Z

How to cultivate the mindset of wealthy people?

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by Baigalmaa
Sugar.mn staff
How to cultivate the mindset of wealthy people?
Photo by Geio Tischler on Unsplash
It is necessary for a person to believe in something, to instill in his mind the belief that he can achieve success, and to strive for it. People's thoughts and feelings are affected, feelings lead to actions, and actions lead to results. Everyone has a hidden talent to think and act like successful and wealthy people, and it's important to discover it. Arnold Harberger, a professor of economics at the University of California, based on a study of more than 2,000 rich people in America, concluded that there are certain laws related to money and time that distinguish the rich from the poor.

1. Attitude towards money
He concluded that the difference in attitudes towards money is that rich people think about where to invest their money, while poor people think about where to get money. By this, rich people develop the thought that they have money, while poor people develop the thought that there is no money. Where can I put my money? Where to invest? The thoughts and actions of people who say and think are completely focused on increasing their wealth, and they should try to do just that. Many people reading this will probably say that they have no money to invest and are living paycheck to paycheck. However, you have that money in any case, and you know that you can't use it alone, no matter how small, when you start putting money into your account.

Conclusion 1. In order to learn how to start investing with little money, you need to read financial books, research on the Internet, and meet and talk with people who know about investments.

2. Approach to time
Rich and poor people have different approaches to time and planning. How can a poor person live without a salary? If you often think about it, but a rich person is always thinking about where and how to celebrate his 90th birthday. People's attitudes towards time and personal budgets are reflected in money planning. According to a survey conducted by ROMIR-Monitoring in 2005, 31% of respondents do not plan their family budget or personal budget, 37% plan for one month, 20% plan for two or three months in advance, 8% plan for a longer period, and only 3 It was seen that 10% plan for a year, and only 1% plans for more than two years. It is interesting that wealth is distributed among people in the same way. Most of the world's primary wealth is owned by 5% of the population, and the people who belong to this 5% are wealthy people who are not only planning their immediate future, but also planning their lives several years in advance. Therefore, because these people know what to do and have a plan, they never spend time in their lives aimlessly, so they grow their wealth.

Conclusion 2. You need to learn to plan your family budget, goals, and events as long as possible and spend your time efficiently.

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