Have you ever wondered why the rich get richer while the poor stay poor? The answer is that your financial situation correlates directly to your mindset. Rich people adopt a rich mindset and never look back. Poor people take on a poor mindest simply because that’s all they’ve ever known. Here are eight of the real differences between a rich and poor mindset to help you identify the ways in which you can change your own inner monologue.
1. Reaction To Surplus
Someone with a poor mindest will see a surplus of resources as a way to consume and splurge on frivolous things. They waste any extra resources they obtain and always find themselves back at square one. A person with a rich mindest will see a surplus as the perfect opportunity to invest in their future. By putting their resources into assets that will benefit them the rest of their lives, they ensure that they will always have a fortune that keeps growing.
2. Trading Time
The poor mindset involves working hourly for someone else for a flat rate of pay. In this model, a person thinks that they must trade their time in exchange for money. A rich mindset will drive people to put effort into things that keep paying them long after they stopped working on it. They continue to gain money over time regardless if they work or not.
3. Handling Risk and Rewards
Anyone with a poor mindset will view risks as a way to lose the few resources they have left. Those with a rich mindset see risk as an opportunity to reap incredible rewards. While starting businesses and investing both involve risk, they also both have the capacity to yield massive rewards.
4. How They Network
People with a poor mindset only do things for people if they expect they can get something in return. If you have a rich mindset, then you do good things for others without expecting anything at all. This cultivates genuine relationships with people that can pay dividends in surprising ways. You never know when someone else will be your own saving grace down the line.
5. The Reputation Valuation
A poor mindset will cause a person to sacrifice their dignity or credibility in order to make a quick buck. They only think about the short term and end up causing themselves massive trouble later on. A rich mindset will inform the person that their reputation is everything. They will slowly build up trust and respect with any community they interact with. While it takes a bit to build up a reputation, it only takes mere seconds to demolish it.
6. Celebration Vs. Jealously
How do you react when someone in your life makes an incredible leap forward? Someone with a poor mindset will scowl with envy, and curse the fact that they weren’t the ones claiming success. Someone with a rich mindset will celebrate right along with that person. They feel great that someone else is bettering themselves. It inspires them to reach out towards success in their own lives.
7. Life Lessons
A poor mindset will tell the person that they already know everything there is to know. They stop learning, and thus, stop growing into the best version of themselves. A rich mindset will inform a person that they can learn something from everyone and everything. They never stop learning, and thus, they never stop growing and becoming better than they were yesterday.
8. Team Mentality
A poor person will adopt the mindset that they can do everything themselves. They would rather bang their head against the wall trying to accomplish something they simply don’t excel at. A rich person will focus on their core strengths while searching for teammates who can complement their skillset. They know what they are good at, and are willing to let others help out in areas they would struggle with on their own.