Mastering your money has a lot more to do with psychology and mindset than we might think.
That’s what Napoleon Hill preached in his bestselling 1937 book, “Think and Grow Rich,” the culmination of his intensive study of over 500 self-made millionaires.
Self-made millionaire Steve Siebold, who has interviewed 1,200 of the world’s wealthiest people during the past three decades, agrees. As backwards as it sounds, getting rich often has less to do with the money than the mentality, he writes in his book “How Rich People Think.”
Here are 13 mindsets of the wealthy that you could adopt today:
Mandi Woodruff contributed reporting to this post.
... while average people think money is the root of all evil.
According to Siebold, there's a certain shame that comes along with 'getting rich' in lower-income communities.
'The average person has been brainwashed to believe rich people are lucky or dishonest,' he writes.
'The world class knows that while having money doesn't guarantee happiness, it does make your life easier and more enjoyable.'
... while average people have a lottery mentality.
'While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems,' Siebold writes.
'The hero (most people) are waiting for is maybe God, government, their boss, or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away.'
... while average people think the road to riches is paved with formal education.
'Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge,' Siebold writes.
'Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness ... The wealthy aren't interested in the means, only the end.'
... while average people long for the good old days.
'People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression,' Siebold writes.
'Self-made millionaires get rich because they're willing to bet on themselves and project their dreams, goals, and ideas into an unknown future.'
... while average people see money through the eyes of emotion.
'An ordinarily smart, well-educated, and otherwise successful person can be instantly transformed into a fear-based, scarcity-driven thinker whose greatest financial aspiration is to retire comfortably,' Siebold writes.
'The world class sees money for what it is and what it's not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities.'
... while average people earn money doing things they don't love.
'To the average person, it looks like the rich are working all the time,' Siebold says. 'But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it.'
On the other hand, members of the middle class take jobs they don't enjoy 'because they need the money, and they have been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort.'
... while average people set low expectations so they're never disappointed.
'Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed,' Siebold writes.
But, he says, 'no one would ever strike it rich and live their dreams without huge expectations.'
... while average people believe you need money to make money.
Siebold says the rich aren't afraid to fund their future from other people's pockets.
'Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'' he writes.
... while average people teach their children how to survive.
Rich parents teach their kids from an early age about the world of 'haves' and 'have nots,' Siebold says.
While many people have argued that he's supporting the idea of elitism, he disagrees.
'(People) say parents are teaching their kids to look down on the masses because they're poor. This isn't true,' he writes. 'What they're teaching their kids is to see the world through the eyes of objective reality -- the way society really is.'
... while average people let money stress them out.
The reason wealthy people earn more wealth is that they're not afraid to admit that money can solve most problems, Siebold says.
'(The middle class) sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind.'
... while average people play it safe with money.
'Leverage is the watchword of the rich,' Siebold writes.
'Every investor loses money on occasion, but the world class knows no matter what happens, they will always be able to earn more.'
... while average people expect to struggle.
'Don't listen to the naysayers who tell you that life is supposed to be a struggle and that you should settle and be grateful for what you have,' Siebold writes on Business Insider.
You have to think big. Why not $US1 million?
... while average people believe obsession is a bad word.
'The truth is wealthy people have a healthy obsession with getting what they want, which includes money,' Siebold writes. 'The wealthy see business and life as a game, and it's a game they love to win.'
Think about what you want and exactly how you're going to get it, advises Siebold. It will take a certain level of discipline to 'win.'