From Chapter Two – Do You Need a Financial Attitude Adjustment?

Rich People Think and Act Rich

Rich people typically become rich because of their mindsets (attitudes) and the result of how they apply their knowledge (actions). Such attitudes and actions last over a lifetime. Therefore, although a wealthy individual might lose his or her money, the person will often regain the loss (think Donald Trump, who nearly went broke but became a multimillionaire once again).

For instance, rich people generally believe that one must pay oneself first. They know how hard it is to save money, so for them, saving is never optional. After saving, they live on whatever is left and avoid using debt to finance excess spending. In fact, the wealthy usually consider debt to be a dirty four letter word. They believe that consumer debt is all about buying more than one can afford. Debt is simply negative savings. (We’re not talking about business debt or mortgages here.) Most wealthy people maintain the following attitudes:

• Money delivers freedom, fun, advantages, and choices.

• Money provides for better schooling and superior medical care.

• Money allows you to be more generous toward those in need.

• Money lets you do what you want with your life. You don’t have to work doing something you don’t love.

• Money provides security, allowing you to worry less and sleep better at night.

• Money allows you to travel the world and experience more of the pleasures in life.

• With money you can roll with the punches if a disaster should occur (e.g., a hurricane, the furnace dying, or the car conking out).

When I consider how strongly early teachings impact our adult beliefs and actions, I realize I am incredibly fortunate to have been raised by a mom who managed money fabulously. I often heard her say, “Money doesn’t buy happiness, but I’d rather be rich and miserable than poor and miserable.” Those words have played in my head my entire life, and all that I learned from her has supported my goal of being financially secure. No matter whether I’m wildly miserable or incredibly happy, I still want to be rich!

Even without the benefit of fiscally responsible parenting, you can empower yourself to become wealthy. Only 20 percent of the millionaires in this country inherited their wealth—the remaining 80 percent earned their wealth themselves. My attitude has always been: if they can do it, I can too. Always remember, a positive attitude is instrumental in achieving financial success!

The story behind Jan’s motivation to prosper

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Financial independence and the Rule of 72