There is a difference between rich/poor people and the rich/poor mentality. There are those who are poor but with a wealthy mindset, which would lead them to wealth, or those who are rich with a poverty mindset, who are doomed to become poor.
First, a quick question for you. What do you think is the root of all evil?
More often than not, you will answer money. Maybe because you think this is true or because someone else told you so. It does not matter why, but the fact that you answered money may be telling us something. Now, you are not alone in this.
Many people grow up believing that money is indeed the root of all evil. They have been conditioned at a very young age to believe that money is either for the fortunate or the crooked one and that there is just not enough money to go around.
If, however, your answer is different, then that means you either avoid thinking about money that would reflect your income and saving habits, or you already developed the money mindset.
Poverty Mindset And Wealthy Mindset
Knowing and understanding the difference between a wealthy and a poverty mindset could influence the way you view money and, to an extension, even change your view about yourself and the world at large.
In reality, there is plenty of money in the world to go around. There are lots of it, in fact, a quick google search will tell you that there are thousands of billionaires and tens if not hundreds of thousands of millionaires on this place. This proves that there is plenty of money to go around.
But this also begs the question. How come so few people have so much money? How come the upper 1% have more wealth than the 99% combined? Just like the first question, how you choose to answer this one will also reveal your perception toward money.
How Rich People Think – (The Wealthy Mindset)
How come those people at the top are so different from the rest of the world’s population? Is it pure luck, hard work, or selfishness?
If you have a rich mentality, your answer will be “being selfish”. Out of context, this proves that rich people are evil. But look at it this way.
They say that if you want to change the world, you need to change yourself first.
To help others, you need to sort yourself out first. The same applies here. Only when you are financially stable can you reach out and help others. To do that, one needs to be selfish first.
Then again, in the end, is it really selfish?
How Poor People Think – (The Poverty Mindset)
On the other hand, those with a poor mentality are truly selfish and self-centered. They would still be “generous” and give away what little resources they have, but their intention is different. They give simply for self-gratification. They just want to feel like they are making a difference, although what they gave made little difference which led to dissatisfaction.
Intention counts for so much. When you look at it this way, do you still think that the rich are actually selfish?
First, let’s look at who is successful and see what they are doing. Using the previous example, which group do you think to make a larger impact on the community as a whole?
If you have a poor mentality, then you are not alone. After all, 99% of the world’s population is not as rich as the top 1%, so there are plenty of people in the first group who have a poor mentality.
If this is you, then try to find the origin of those thoughts, how long have you held onto those beliefs, and think of your emotions toward money.
To help you identify the poverty mindset, here are some common beliefs:
- I’m bad with money.
- I’m unlucky.
- It’s too much responsibility, I can’t be bothered.
- I don’t deserve it.
- Some bad things will happen to be.
- I don’t want attention.
- I need to work harder.
- I need to spend less time with my family.
- People will exploit me.
These are only a few examples, but you get the idea. These beliefs ensure that we work hard so that we do not have too much money.
It is the work of the subconscious mind and it compels people into doing some incredible things just to maintain the status quo.
For instance, poor people will spend all the money they earn, much faster than they make it, hoard it, give it all away, invest poorly, or simply get themselves fired so they don’t get too rich.
Keep in mind that rich people got to where they are not because of a single transaction. They obviously put in a lot of work in the background and it all paid off.
Things That Wealthy Mindset People Do Differently That Set Them Apart From The Rest:
Believe in abundance, not scarcity
I’ve just covered this, but it’s worth exploring the concept further. The belief that there is enough money to go around is also called the principle of abundance. For example, most people grew up in the Baby Boomer households and their parents were the kind that tried to scrape together every little penny they could and put everything into saving.
You may hear your parents saying something along the line of, “Money doesn’t grow on trees”, “We can’t afford it“, etc. This just shows one’s scarcity mindset.
People with such a mindset believe that money is hard to come by so they are afraid of spending anything. Herein lies the problem.
You see, rich people see money differently. They believe that money is a means to an end and they need to invest money so they can make more money.
As you are reading this now, millions of dollars switched hands every second. With such a large cash flow going around, there is ample opportunity for you to tap into that stream and get a piece for yourself. There is enough money to go around.
Never stop learning
Poor people just want to get out of college so they can start working in low-paying, dead-end jobs. The moment they graduate, they throw the books into the trash bin and swear to never touch another book ever again.
On the flip side, rich people believe that education is a lifelong endeavor. It goes far beyond college. All it does is to (inadequately) prepare us for the harsh reality of life. It could get us a job, but it most likely won’t be a fulfilling, let alone well-paying one.
Even after they got out of college, you will see that they continue to work on their skill set and knowledge. They attend conferences and seminars, they read lots of books. The best part? They also work just like poor people. The only difference is that they won’t be staying in a low-paying job for long because they are continuously improving themselves and therefore creating more opportunities.
Rich people think big
If something is truly important to you, then you will find the time to work on it.
People with a poverty mentality do have dreams and aspirations, but they remain just that – mere dreams.
They think in terms of their immediate environment and they believe that they need to sort out the most pressing problems first before they can just sit down and work on their passion projects. That is true to a degree, but there will never be a time when things calm down enough to just let you kick back and work on your dreams.
You need to make time for it and guard it fiercely.
This is precisely what people with a rich mindset do. They do not let the environment control them. They take life by the horns and steer it in the direction they desire. They never back down from a challenge if it means achieving their goals. It might involve late nights and early mornings, but they always get what they want in the end.
Don’t play the victim
Let’s face it. It’s a lot more convenient to blame others instead of ourselves when things go wrong. It takes away the burden of responsibility. This is what people with a poor mindset do. They play the victim. There is always something else to blame for their failure. It is easy and also destructive.
People with a rich mindset also fail. Believe it or not, they fail a lot more often than people with a poor mindset. The difference is that when rich people fail, they learn from their mistakes and bounce back. Poor people stumble, fall, curl up, and start throwing blames around.
Reach up in relationships
Birds of the same feather flock together. A person is defined by the company they keep. This is a proven fact. The people you hang out with shape your personality and thinking.
For people with a poverty mindset, they will seek out those who also have a poor mindset. They will hold each other back from achieving anything worthwhile. Even when one of them starts to break out of the loop, the rest will attempt to drag him or her down with negativity.
For people with a wealthy mindset, they reach up in relationships. They know that they are influenced by the company they keep, so they actively seek out and engage with people who are more successful than they are. As a result, they get to learn many valuable lessons in life that help them become richer and more successful.
How does one achieve the impossible? First, do what is necessary, then what’s possible. What does this entail? Action. Lots of actions.
People with a wealthy mindset do not just sit around and hope good things come their way. They make good things happen.
They get out there and work hard. They persevere. They will encounter pitfalls and they may tire and they may rest if they pushed too hard, but they will never give up.
People with a poverty mindset, on the other hand, give up at the first sign of inconvenience. This prevents them from getting far in life.
Some of them will also take action, but it won’t be enough.
Their efforts will be lackluster and they cannot take action at the same level as those with a rich mindset.
In short, those with a wealthy mindset know that they can improve their financial situation and achieve great things in life. They take responsibility and ownership of their lives and they work hard. They don’t wait around and hope things will go their way. They make things happen. Taking the initiative is precisely why rich people go far in life. People with a poverty mindset do not exert enough effort, they are doomed to fail, and they will complain about how unfair life is.