How Wealthy People Think & Act

July 15, 2010

Interview with Deborah Owens, author of the book A Purse of Your Own: An Easy Guide to Financial Security

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Mike Carruthers:
When you look at how most wealthy people got that way you realize that they look at money differently than other people and they understand that…

Deborah Owens:
The average person is usually wrong and they understand that they have to act the opposite than everyone else and generally they’ll be OK.

Wealth coach, Deborah Owens author of the book A Purse of Your Own... 

Because when the market is up and everybody’s buying wealthy people understand that that’s the absolute wrong time to be buying in the market. And wealthy people generally live beneath their means. Wealthy people understand that when they buy something that depreciates in value they probably don’t want to buy it brand new because generally they’re going to overpay.

Deborah says when her clients have come to see her…

Many of them you’d never, ever have any idea that they had the kind of wealth that they did based on what they look like. There’s not a need to impress anyone they understand that they don’t have to wear their wealth on their sleeve.

Deborah is optimistic about the future because what’s happened in the last few years economically is forcing us to return to a smarter way of dealing with our money.

Save for a rainy day, don’t get ahead of yourself, pay cash if you can, and if you need to use a credit card or borrow, guess what? – you can’t afford it. 

To hear the complete unedited interview, click here