7 things the wealthy 10% understand that the other 90% are missing

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This post from Ron Rule, CEO of As Seen on TV, originally appeared on Quora as an answer to the question, "What knowledge does the wealthy 10% understand that the other 90% are missing?"

1. That big money is served in small increments.

Whether that's ROI on investments, profits, margins on products you're selling, whatever. People who don’t understand this are always trying to double or quintuple their money in as few transactions as possible, while the largest and most successful companies and people in the world win by making "small money" over and over again.

2. That wages and income are about what the job is worth, not the individual.

As a person, as a human being, your value is immeasurable. If you went missing in the woods our society would easily spend five or six figures trying to find and rescue you, without hesitation. But dude, putting a sticker on a box is still only worth $5. If that.

Your income potential isn't about what you need or what the employer can afford, it's about the value of what you do. Those who are in the upper income brackets have understood and embraced this reality and have worked to bring something of value to the market or their company.

3. That personal debt is not a "tool," it's shackles — delayed gratification is more gratifying than instant gratification.

If you can't pay cash, you can't afford it. That guy you know making $70,000 per year driving an $80,000 BMW and carrying $15,000 in credit card debt looks like he's well off, but he's an idiot. His entire paycheck is gone by the end of the month, and none of that stuff is his. He's basically just renting it from the bank. He’s paying more annually in interest than he’s earning in his IRA.

One hiccup in his income and the bank takes it all back, making all the money he's paid thus far for nothing. But the guy who saved up and paid cash? His savings account grows every month and no one will ever show up and take his stuff.