Steve Siebold's Article: How Rich People Think On Money

Human thinking can influence everything and especially the way people handle money. While money certainly brings status, it’s acquired mostly for the purpose of attaining personal liberty. However, the biggest thing holding back most people from succeeding and flourishing in terms of money are their thoughts, beliefs and philosophies. Siebold claimed that a person can feel shame, if he/she is “getting rich” in poor communities. Some people who were born poor or in the middle class are still stuck or remain that way because of the way they think about money. It is nearly impossible to contradict the fact that the rich think about money is distinct and unique from everybody else. In this paper, the researchers will not only highlight the differences

Successful people had been proclaimed by Steve Siebold to being focused on their logical thought about money. On his book ‘How Rich People Think”, he claimed that the rich people set aside the involvement of emotion and lets their reason be their guide in reaching their high-set goals. Through this, they are able to disregard the psychological chains that may bind with them in their strategies in earning money. Also when such downfalls of business came, they tend to take this as an opportunity to expand their reasoning on earning money to have more leverage and not to cover up their loss for protecting themselves in the view of the other people towards them. No disappointments could easily overtake their minds instead, they use their logic to dictate more financial strategies and manipulate the interference of emotion as a motivation and not of any psychological chains as said earlier. The most effective logic of rich people for overcoming disappointments or any unclean emotion is being comfortable at uncomfortable situations which means that they are strong enough to embrace the fact that any business that could be inked to earning money is a risk and they are already fine with it even before they could finally meet the risk along their business transactions. Peter McWilliams had also supported this idea as proposed” a little risk for rich people is what takes them to arrive at creative ideas, acquire wealth and achieve superior results. “The wealthy carefully monitor their associations. They involve the right people in creating a context that is conducive to good decisions. The right people are those who are knowledgeable, have experience, have stake in the outcome. “It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you’ll drift in that direction.”-Warren Buffett added as he proves