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11 Ways To Start Thinking (And Acting) Like a Rich Person

What does it mean to be rich? It’s more than earning money — it’s how you think about it.

By Roxana Loomes

Edited by Laura Ratliff

Updated Feb. 12, 2025

It may seem surprising, but wealthy people don’t obsess about cash. Instead, their mindset is focused on long-term financial goals and how to reach them.

If you adopt their approach to wealth, you can stop living paycheck-to-paycheck regardless of where you are right now.

Let’s look at 11 practical ways to shift your mindset and embrace financial success.

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Focus on long-term goals

Short-term goals, like setting money aside for a weekend trip, are easy. They require little planning and offer instant gratification. Yet, in the long term, these short-term gains do not offer a solid foundation for building wealth.

Rich people avoid the pitfalls of easy, short-term financial objectives. Instead, they prioritize long-term growth, a solid financial plan, and keeping their eyes on the prize.

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Embrace smart risks

When it comes to risks, it may be hard to decide whether they are worth it or not, especially when you’re worried about your financial health. The worst you could do is be risk-averse.

No pain, no gain, right? When you consider risks, inform yourself about what they entail, and take calculated risks. You know you can manage these risks without major losses, so you’re less likely to fail. But what if you fail anyway?

Use failure to grow

Failure shouldn’t deter you from trying again. Rich people aren’t affluent because they never fail. Quite the opposite: They are rich because they allowed themselves to fail and learned from their mistakes.

Failure is a fact of life. How you approach it makes the difference between a successful mindset and self-sabotage. Dust yourself off and give it another go.

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Invest in education

As you shift your approach to wealth from paucity to abundance, you may be tempted to invest in liabilities like a flashy car or an expensive vacation. These investments may seem fitting rewards for your hard work, but they drain your long-term wealth.

Instead, invest in assets like education. The more you learn, the less likely you are to make poor financial decisions. You'll never get ahead without the proper knowledge and continuous personal development.

Adopt an abundance mindset

You must have heard before that money is not an end — it’s merely a tool to create opportunities. When you adopt an abundance mindset instead of constantly stressing about your finances, you stop being reactive.

Visualize your success and find ways to achieve it. As soon as you think outside the box and embrace innovation, your outlook on life becomes that of a rich person.

Surround yourself with like-minded people

Having a safety network is essential regardless of your financial situation. However, wealthy people take this network to the next level, intentionally surrounding themselves with high-achievers who inspire them.

Don’t be intimidated by people who seem to have it all. Instead, learn from them and use the inspiration to pursue growth and opportunities.

Grow Your $$: 11 brilliant ways to build wealth after 40

Focus on the positive

It’s easy to become pessimistic about money, especially when stressed about never getting ahead. Negativity often leads to feelings of resentment and contributes to burnout and depression.

Rich people tend to focus on what’s working. By eliminating negativity and appreciating your wins, you can accept failure, learn from it, and create a positive relationship with money.

Let the past go

Living in the past may be a form of coping, but it does you no favors when you’re trying to stay competitive and build wealth. Even if the past holds your best financial moments so far, it does you no good to keep returning to them.

Turn toward the future — it’s where your next victories lie. When you unburden yourself from the past, you have more mental bandwidth for finding solutions to your financial woes and turning challenges into opportunities.

Take care of yourself

Wealthy individuals put themselves first. They may well give to charity and involve themselves in worthy causes, but their primary focus is their own needs.

Take a page from their book and prioritize your comfort, well-being, and objectives. A rested mind and a healthy body are your best assets when planning your next big investment.

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Avoid time wasters

To use a cliche, “time is money.” You may have heard this a million times to the point where it lost all meaning, but it’s true.

Time is one of your most valuable resources, and rich people know it. Instead of wasting time on immediate gratification or useless pursuits, use delegation to prioritize goals and actions that could benefit you in the long term.

Diversify income

Last but not least, one way to think like a rich person is to avoid counting on a single source of income. No, rich people don’t think about gigs and side jobs.

However, they think about investments and passive income, and you should, too. Consider industries likely to get you the best return on investment, like real estate.

Bottom line

When you’re trying to shift your mindset and start thinking like a rich person, there are many things that may lead to doing better financially. You can avoid being risk-averse, embrace your long-term objectives, and prioritize self-care.

Staying positive and investing in continuous education and development are also good ways to mimic the financial mindset priorities of the wealthy.

One last thing to bear in mind is discipline. You won’t be able to change the way you think overnight. Determining outdated ways of approaching your finances that hurt your goals requires an organized, disciplined approach and lots of patience. Good luck!

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Author Details

Roxana Loomes

Roxana Loomes is a writer and editor based in Vancouver, Canada, with a degree in English from Michigan State University. When it comes to personal finance, she's interested in money management, budgeting, and maximizing savings through hacks, coupons, and strategic spending.