Rich Vs. Poor Mindset

Welcome to this blog about a rich vs. poor mindset!

Note: Whenever I refer to poor people in this article, I do not mean poor in wealth; I am referring to people with a poor mindset.

Mindset is a big part of our life. It affects the way we look at the world and what we think of it. Having a rich mindset means looking at the world with a set of positive eyes, while having a poor mindset is the opposite. While rich is mainly defined as having a lot of money and poor meaning not enough money, it has different connotations regarding our mindset. A person who is poor in wealth can still be rich in mindset. But what exactly makes someone have a rich mindset? Read on to find out!

It may be hard to notice the separation between rich and poor in real life. Some people think that the distinction lies in looks and appearance, others may think it lies in habits; some may think that the difference lies in our personality, qualities, and attitude, while the remaining think it lies in thinking and mindset. Comment down below which one you think it is before we get started!

Rich vs Poor Mindset

Personally, I think that the gap between rich and poor is not in one single thing, but all of those listed above! Looks, appearance, habits, qualities, personality, attitude, thinking, and mindset- all these things contribute to forming either a rich individual or poor individual. Our mindset and thinking, which is formed by our unique brains, is the reason we have a certain appearance, certain habits, qualities, and attitude.

To be more clear, we try to look a certain way (makeup, no makeup, modern, traditional, etc.) because of the way we want to look in our mind. We adopt certain habits (exercising, socializing, relaxing, working, etc.) because our minds know that it is good and/or enjoyable for ourselves. Our qualities, personality, and attitude (friendly, greedy, confident, positive, etc.) are there because our minds want to be and act in a specific way.

This leads to to the last but not the least, our mindset and our thinking. This comes directly from our brain and only our brain; our brains are able to form a special connection with the way we think and the type of thinking we do. I like to think of it as a pyramid- our brains are at the top, our mindset comes next, and at the bottom are all those things listed that come from our mindset. For more information, check out this website on how your mindset affects the way you live.

Now that we’ve cleared that up, let’s move on with the blog- rich vs. poor mindset. We know that mindset corresponds to looks, qualities, attitude, habits, and more listed above, so the differences listed in this blog will cover not only mindset, but the others as well. Hopefully, in this blog, you will also be able to learn about your individual mindset and whether or not you need to improve on it. So, without further ado, here are the differences between a rich vs. poor mindset:

1. Rich people are committed to being rich

The reason rich people are rich and poor people are poor is that rich people are committed to being rich and poor people only want to be rich. The difference comes from commitment vs. want. If you are committed to doing something, you will do whatever it takes to get that. The same goes for the rich: “As long as it’s legal, moral, and ethical, they will do whatever it takes to have wealth.” (harveker.com) On the other hand, with a poor mindset, one will not do anything further to achieve what they want.

Are you willing to work 16 hours a day? Rich people are. Are you willing to work seven days a week and sometimes most of your weekends? Rich people are. Are you willing to sacrifice for at least a period of time seeing your family, your friends, and give up your recreations and hobbies? Rich people are. Are you willing to risk all your time, energy and start-up capital with no guarantee of returns? Rich people are.

harveker.com

2. Rich people look for solutions and don’t give up

rich vs. poor mindset

Rich people know that what they want isn’t going to come easy. They are aware of the challenges, hardships, and drawbacks they will face while on their journey to their dream destination. However, instead of giving up, they look for solutions to those problems and keep going.

“Rich people spend their time and energy strategizing and planning the answers to challenges that come up and creating systems to make certain that problem doesn’t occur again.” (harveker.com)

However, with a poor mindset, one comes across the same situation but takes the opposite action. Instead of coming up with a solution and not giving up, one will complain and head back. One thinks that he/she is “helpless” and that they have the worst luck. But, that is not the case at all. It is all up to your mindset.

As you can see, one who finds solutions to problems and keeps going will eventually reach their dream destination- success. However, the one who gives up will always stay at the same place in life and not move forward. It is up to you, and only you, to decide which person you want to be- the one who achieved his/her goal or the one who quits?

3. Rich people think big

A big mansion. A big car. A big bank account. All these things seem wonderful, but in order to achieve all of them, you need one thing- a big mind.

With a big mind, you are able to accomplish much more than if you were with a small and narrow-mind brain. Why? For one, you are able to think long-term, about your future. You know that success is not instant, and will take time to achieve. Thinking into the future is important because you know what you want to do to achieve your goal, and if you know what you want to do, then you are able to make a change and start now. However, poor people “get caught up in instant success.” “They want to hit it big with one good deal which is about as effective as playing the lottery. They often live paycheck to paycheck because they “need” to satisfy their wants NOW instead of preparing for their future.” (moneytamer.com)

Another reason why thinking big is crucial for success is because you believe that you are bigger than your problems. “The secret to success, my friends, is not to try to avoid, or get rid of, or shrink from your problems; the secret is to grow yourself so that you are bigger than your problems. If you have a big problem in your life, all that means is that you are being a small person! If you want to make a permanent change, stop focusing on the size of your problems and start focusing on the size of you!” (harveker.com)

4. Rich people know their goals

rich vs. poor mindset

As said in the last section, if you know your goals and what you want to succeed, then you would be able to start NOW. They know what they want, how they want to get it, and if it doesn’t go their way, they will find another path to get to the same destination. They clearly know what steps they have to take, and how. They is no guessing or hoping that things will work out, and with this, they can take calculated risks to achieve their goals.

On the other hand, poor people haven’t defined what goals mean to them and what they want to achieve. They only focus on what they don’t want, which is not going to help them in any way. “Without having clear goals, they have nothing they’re working towards. This doesn’t lend itself to wealth building since there’s no reason to save.” (moneytamer.com)

5. Rich people focus on opportunities

Small Business & Entrepreneurship Council

Since rich people know what they want and how they want to get it, they have a clearly planned-out map of the journey they are going to take. And, even when they come across obstacles on their journey, they see those hardships as opportunities to grow and learn more, heavily contributing to their success later on. However, when a poor person faces the same obstacles, they ” see potential loss and are driven by their fear-based voice.” (harveker.com)

6. Rich people have a positive attitude

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With a positive attitude, one believes that he/she can accomplish anything. However, with a poor mindset, one needs “guarantees” from others in order to prove their self-worth. But, the only thing that proves is low self-esteem.

If you believe that you can do anything, it is very likely that you will achieve it. However, if you don’t believe that because of a negative attitude, you will not. “With a positive attitude, we experience pleasant and happy feelings. This brings brightness to the eyes, more energy, and happiness. Our whole being broadcasts good will, happiness and success. Even our health is affected in a beneficial way. We walk tall, our voice is more powerful, and our body language shows the way we feel.” (successconsciousness.com)

7. Rich people do not flaunt their wealth

$156 Billion in One Photo and Not a Gucci Belt in Sight (1 ...

In movies, we often see rich people dressed in designer brands, throwing lavish parties, and driving expensive cars. However, in reality, that is not the case. In reality, as seen in the above, rich people do not flaunt their wealth by doing all those things “The people more likely to flaunt their wealth are actually the ones with less money in the bank. “The most extravagant homes I’ve been in have belonged to people who, four out of five times, had to move out because they couldn’t afford it,” says wealth advisor Natalie Schmook.”

Check out this website to read about 8 billionaires who don’t spend money like their rich!

8. Rich people understand the value of education

Millions cancel and change education plans in response to the pandemic

Most people think that education ends when college ends. They quit learning as soon as they get a degree. However, that is the case of people with a poor mindset.

If you have a rich mindset, you understand the importance of educations and its value in life. People with a rich mindset continue learning every day, even after their graduation, their degree, and more. The reward of education cannot be expressed in one certificate, but in one’s future.

Warren Buffett reads 5 hours every day. Bill Gates reads 50 books a year. Many other millionaires are said to set aside at least one hour every day for education. Even if you can only spare 30 minutes every day for continued learning, multiply that by 365. That’s 182.5 hours a year, or similarly a little over 7 1/2 entire days of reading every year.

moneytamer.com

9. Rich people embrace competition

You Need to Embrace Your Competition — Social Starts

Rich mindset embraces competition and knows that iron sharpens iron. Poor mindset is discouraged by competition. It complains that ‘someone already got there first‘ or that, ‘they’re obviously going to catch up to me, I might as well quit now.‘”

Rich people know that by embracing competition, they will come out stronger and smarter at the end of the competition- no matter whether they win or lose. If they win, they learn how to be humble. And if they lose, they celebrate the other person’s success and learn how to be better next time!

10. Rich people make logical decisions

Decision-making Styles in Different Organizations

Rich mindset: “When making financial and business decisions, rich people will use logic. They weigh the pros and cons of a situation before making a decision. Taking calculated actions gives them confidence in their decisions because they’ve done the background work. They’ve thought through the various scenarios and weighed the potential outcomes. By having this confidence in decision making, they’re able to take larger calculated risks with better payoff potential.” (moneytamer.com)

Poor mindset: “Poor people will often make decisions impulsively and without forethought. They may invest in a business venture because their friend asked them to, without looking at the business’ financials. These impulsive financial choices are based on feelings rather than sound financial practices. The financial outcomes in these scenarios are often negative with huge losses.” (moneytamer.com)

Check out more on the subject of success!

The Takeaway:

Rich and poor are not defined by your salary or by how much money is in your bank account. You should never let anybody make you think that. Rich and poor are much more than that- it is your mindset, your attitude, your qualities, and more. Having 5 Gucci purses does not make you rich, and not having any doesn’t make you poor. However, having a positive attitude, clear goals, logical decision-making, and more, does make you rich!

Don’t judge your self-worth by how many designer clothes you have- instead, ask yourself these questions:

  1. Are you committed to being rich?
  2. Do you look for solutions and keep going despite setbacks?
  3. Do you think big?
  4. Do you know your goals?
  5. Do you focus on opportunities?
  6. Do you have a positive attitude?
  7. Do you not flaunt your wealth?
  8. Do you understand the value of education?
  9. Do you embrace competition?
  10. Do you make logical decisions?

Check out this video on what really separates the rich from the poor! And for more inspiration, buy the bestseller: Rich Dad Poor Dad!

While money shouldn’t define your self-worth, it is still important to take care of your finances. You can have a poor mindset, but still be rich. And, you can a rich mindset, but still be poor. However, in regards to the last statement, if you have a rich mindset, hopefully, your future will be full of wealth and success!

All this blog did was inform about the differences between a rich vs. poor mindset. However, it is up to you, and only you, to decide which mindset you want to have- A rich mindset or a poor mindset? Hopefully, this blog persuaded you to acquire a rich mindset!

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2 thoughts on “Rich Vs. Poor Mindset

  1. John

    nice keep it up!

    1. Jacob

      Thank you!

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