The middle class are emotional with money, the rich are logical

Author : Corina Zhang Source : Release on : 2016-09-06 10:03:50

"Only when you combine sound intellect with emotional discipline do you get rational behavior."--Warren Buffett

Steve Siebold interviewed over 1,200 of the world's wealthiest people over the past 30 years for his book "How Rich People Think", and according to him there are more than 100 differences in how rich people look at money compared to the middle class. One of the key differences he found was that the middle class see money through the eyes of emotion, but the rich see money through the eyes of logic. Making emotional financial decisions will ruin your finances. Warren Buffett explains that investing has much more to do with controlling your emotions, than it has to do with money. Emotions are what cause people to buy high and sell low. Emotions create dangerous business deals. Leave emotions out of this and turn to logic.

2.The middle class underestimate their potential, the rich set huge goals

"Set your goals high, and don't stop till you get there." --Bo Jackson

The middle class set goals. Sometimes. It's the capacity of the goals that differ from the middle class to the rich. The middle class set safe goals that are easily obtainable. The rich set goals that seem impossible, difficult or crazy. But they know they are achievable. It all comes back to having the proper mindset. When you're setting your goals, ask yourself if they could be bigger. Ask yourself if that's really all you can do or if you can do more. I think you can do more.