Hating the rich may be costing you money

Pop quiz: Which of the following statements is true?

  • Rich people are greedy.
  • Money corrupts people.
  • People get rich by taking advantage of others.
  • Good people should not care about money.
  • All of the above.

If you agree with any of those beliefs, you might be hurting your chances of becoming wealthy yourself. In fact, hating the rich might be making you poor.

Brad Klontz, an associate professor of financial psychology at Creighton University, has found through years of research and surveying hundreds of people about their money beliefs that those who think negatively about wealth and wealthy people are more likely to have lower incomes. The stronger your hatred of the rich, the lower your income will be.

“As long as you hold those beliefs, you’re never going to be able to get ahead,” Klontz said. “They’re going to keep pulling you back.” Here’s why.

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