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Psychological studies -

It has been proven that the level of wealth that someone has can very much determine their outlook and perspective on things.

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Inequality -

The more someone earns, the more likely they are to have disdain for those who don't do as well, believing that they deserve it, and others, who are less fortunate, do not.

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Measuring wealth -

Many psychologists find measuring wealth a difficult task. Largely because people define themselves in many different ways. Mainly, it concerns socio-economic background.

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Empathy -

The richest among us often tend to have less empathy than people with lower levels of earnings.

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Kindness -

In many ways, empathy and kindness go hand in hand. The kindest people are usually not the wealthiest ones.

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Bad behavior -

People are more likely to behave in a more obnoxious and entitled manner when they have a huge amount of money.

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Addiction -

It can also lead to habit formation for substances that can be harmful and drain one's finances.

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Substance abuse -

Children from wealthy families are more likely to engage in substance abuse. The reason for this is that they have more access to money, and, often, more pressure from family to succeed.

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Internalized problems -

Children from wealthy families often have to deal with a lot of emotional strain. This is because they are often neglected, or sent to boarding school.

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Stereotype -

Anyone can stereotype anyone else. But some of the stereotypes about the rich are that they are uncaring, selfish, and even brutal.

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Lack of trust -

Many wealthy individuals do not trust those from a lower economic background, and vice versa. Whether it is jealousy, resentment, or fear, it's undeniable.

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Ethics -

Sometimes wealthy people have to pay an enormous amount of tax. However, this also means that they enjoyed an enormous amount of earnings. Consequently, the rich are more likely to try and dodge tax.

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Role reversal -

The rich are the minority, and few have sympathy for them. So, when they hit hard times (i.e. bankers, CEOs, etc.) a lot of people take pleasure in it.

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A perfect life? -

Many people assume that the rich have perfect lives, which is far from the truth. They just have the funds to make things easier.

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Psychological disorders -

A combination of old-fashioned and erroneous parenting techniques make psychological disorders more of a notable factor in the children of the wealthy.

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Can't buy love or happiness -

Money can make life a lot easier, but it's also true to say that it can't buy love or happiness. Eventually everyone gets used to their wealth, so the appeal diminishes.

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Superficiality -

If a relationship is built around material wealth, and little else, don't be surprised to watch it crash and burn if anything goes slightly wrong.

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Cash hit -

Just like cigarettes, alcohol, and narcotics, money can be highly addictive. If someone becomes hooked on it, this can be a serious cause for concern.

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Self-interest -

If a person's whole value system is based on their own self-interest, then it makes sense that they will be a rather unpleasant individual.

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Self-image -

If someone's entire self-image is based on how wealthy they are, then they may come across as extremely entitled and arrogant.

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Self-sufficiency -

Self-sufficiency is perhaps a positive thing in many ways, but also a cold one. It makes someone far more likely to not do well in a team, or to try and always be the overall winner.

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Helpfulness -

People who have less money tend to be more helpful and generous with their time than the rich, possibly because the wealthy regard their time as a commodity.

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Time and effort -

If people feel valued, they naturally make more effort. This is why people in better paid jobs often progress further.

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Work ethic -

Someone who receives a high salary will sometimes just be fortunate. Other times they will have a strong work ethic. It's all about how valued somebody feels.

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Moral judgment -

One of the main problems with the arrogance that comes with wealth is the level of superiority erroneously felt. Rich people often feel like the rules don't, or at the very least shouldn't, apply to them.

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Illegality -

Having wealth can, ironically, make someone more likely to steal. Possibly because their sense of the value of money is so warped by their own richness.

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Right vs. wrong -

We all face serious moral and ethical choices in our lives. The concept of right and wrong is very real, and having a lot of money can blur perspectives somewhat.

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Changing attitudes -

Everyone has a different attitude towards money, and this is thankfully mainly changing for the better. We are now more aware of social issues and societal problems.

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Success -

A person's worth cannot be determined by money, and their sense of self shouldn't be either.

Source (Self-Made)

See also: How much should you be spending on rent?

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