Have you ever wondered how a rich person was able to accumulate so much money? Perhaps you’ve taken notice of a poor person and found it perplexing, or even upsetting, that he just didn’t have any money no matter how hard he worked. What determines who will be rich and who will be poor? The reality is that your money mindset helps you determine whether you’ll be rich or poor. This episode addresses the differences between the mindsets of rich and poor people when it comes to money. Each section explores a specific way of thinking about money and the widely contrasting views taken by the rich and poor. You’ll be enlightened about how you can alter what you think, feel and believe about money in order to “think rich.” Rich and Poor People Think Differently About Money Consider the following stories detailing the lives of a person who thinks poor and another who thinks rich: Paul appears to struggle financially although he’s a hard worker. He speaks often of not having enough money to pay his bills. Paul sees himself as a poor victim of how life goes. When you talk to Paul, he wonders aloud why he “can’t ever get anywhere” financially. James is a busy guy. People who know him say he’s very focused on his goals and dreams. If someone wants him to do a job, he figures out a way to do it. James researches possible new investments—he knows you have to invest money to make money. James thinks about and plans for his financial future. He recognizes he’s in control of his current and future finances. Paul and James have very different mindsets: Paul thinks like a poor person. He openly focuses on negatives in his life, especially when it comes to money. His entire persona revolves around the positions of having no money or capacity to get ahead financially. Paul feels powerless to change his life and blames external circumstances for his financial situation. On the other hand, James spends the bulk of his thoughts, time and efforts ensuring his future financial success. He’s flexible about the work he accepts and believes it’s worth it to invest his dollars to produce more money. James believes only he has the power and the responsibility for his financial life and he’s determined to make the most of it. Do you believe that anyone can become wealthy, if he has the proper mindset? By the same token, can you see how your mindset largely determines whether you’re on your way to building affluence or creating sabotage in your own financial life? Read on to learn more about the differences in the rich and poor mindsets. "I don't think of myself as a poor deprived ghetto girl who made good.
I think of myself as somebody who from an early age knew
I was responsible for myself, and I had to make good."
–Oprah Winfrey An important contrast in how poor and rich people think is the “there’s not enough” mindset versus “look at all the ways to increase cash flow” way of thinking. You might say that the poor view money with a “lack” mindset —there’s not enough money, there’s nothing to do to make money and this is “all I can expect from life because I’m poor.” The rich, on the other hand, recognize there’s abundance everywhere. Wealthy people notice that abundance, seek to attract it, and take advantage of events and situations around them. They see low-hanging fruit right in front of them and know that all they have to do is pluck it from the tree to produce wealth. The rich think about cash flowing in and how to make it happen.
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