Daily Erudition: Mindsets Differences of Rich and Poor

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4.24.2011

Mindsets Differences of Rich and Poor

See the mindsets differences of the rich and poor. If you want to be rich, then start changing your attitude and mentality first. It will not be that easy. It is not just an overnight job, it will take you forever. If you want to be successful, then your heart and mind must be with you. Know your goals, know where you are heading to and most importantly, know what you must do.

THOUGHTS AND CONVERSATIONS:

Poor: Talks about people

Middle Class: Talks about material things

Rich: Talks about ideas

GOALS AND LIFESTYLE:

Poor: Survival. Thinks from day to day, a hand to mouth existence

Middle Class: Comfort. Thinks from paycheck to paycheck

Rich: Freedom. Thinks from year to year and far beyond

SPENDING AND DEBT:

Poor: Pays in cash or debts

Middle Class: Pays through credit cards and revolves debt

Rich: Pays through credit cards but pays in full monthly, knows how to leverage debt

WORK ATTITUDE AND MINDSET:

Poor and Middle Class: Plays it safe, works just enough, satisfied with mediocre results

Rich: Take calculated risks, challenges oneself to excel and be the best

MONEY AND OPPORTUNITIES

Poor and Middle Class: Scarcity. Opportunities are few and money is hard to come by

Rich: Abundance. There are a lot of opportunities out there for me to make money

ATTITUDES AND MOTIVATION:

Poor and Middle Class: Impatient. I want to live in comfort today

Rich: Delays gratification. I sacrifice today, so I can live in comfort for many days in the future

LUXURIES AND OBSTACLES:

Poor and Middle Class: I cannot afford it. I cannot do it.

Rich: How can I afford it? How can I do it?

SUCCESS AND WEALTH:

Poor: Lottery. Mary someone rich.

Middle Class: Inheritance. Advancement of career

Rich: Frugality. Business and investments

RECREATION AND FULFILLMENT:

Poor and Middle Class: Distractions and escapes (television, gossip, etc), surrounds oneself with material things

Rich: Life enrichment, self-growth, helps and provides value to others

These are just few of the many things I've learned from my Gung-ho financial training. But I will be sharing with you other important things as well on my next money blog posting.

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