Some people may earn a high income, but that doesn’t necessarily make them wealthy. Economist Jay Zagorsky found that people with high IQ scores missed payments and maxed out their credit cards more often than those with slightly above average intelligence. The problem stem from the faulty mindsets. To increase your wealth you need to change the way you think first. As personal finance blogger Michael on Financially Alert explains: “Finding financial freedom really comes down to 80% psychology and 20% mechanics. So, guess where you should focus your efforts? By raising your standards, you immediately begin to impact the quality of your thoughts (psychology). In fact, if you only concentrated on becoming financially alert, you will find yourself naturally adjusting your mechanics automatically.” (financiallyalert.com)
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