8 Key Mindset Differences Between the Wealthy and the Poor

Nearly everyone wants to be well-off and financially independent, but the truth is that less than 5% of our population in the United States can be considered to be wealthy. Why do so few people have real wealth, even though everyone desires it?

The Number One difference is their money mindset. The wealthy think differently about money and wealth, and above all, wealth creation. Think of someone you know who has money. Are they lucky, intelligent, or hardworking? If they are none of these things and are still wealthy, they either have wealthy parents, or they know something you don’t.

If you are interest in changing your money mindset, to think like a wealthy person, here are a few way ways to help make the switch form thinking poor to thinking rich.
2. Wealthy people attempt to create a specific life for themselves; poor people believe they have no control. If you don’t believe you can create the life you desire, why would you even try? But if you can picture what you want, you can break it down into clear steps on how you can get there. For example, if you want to save $50,000 for each child for college, how can you do it? The wealthy mindset will find ways to make it happen and take action steps to do so.

3. Wealthy people dream much larger, and live larger.

Tell your poor friends that you want to be a millionaire and see what they say. You’re likely to hear something like this, “No one needs that much. You can live well with a lot less than that.” Look at their money mindset. It is that of a poor person. Think bigger and you will live bigger. Save your money, invest it smartly and you can soon have that million.

4. The wealthy play to win, while the poor play not to lose.
Again, this is a question of the wealthy versus the poor mindset. The poor are so afraid of losing that they do not even get in the game. For example, yes, the stock market has been on a wild rollercoaster ride. But if you bought back in August when the bottom was dropping out, you had only one way to go, up. The wealthy knew this and made more money. The poor stayed poor.

5. The wealthy see opportunities, and the poor see obstacles. Those who are wealthy tend to focus on the opportunities that come across their path, and then deal with any obstacles. They feel confident in their skills and abilities to make the right decisions. The poor have a habit of focusing on all the obstacles and as a result, fail to ever take action.

6. The wealthy commit themselves to their vision of the future.
They say I WILL be successful, I WILL do X and Y, not, I might so what happens if… Or Maybe it will work out. They dream big, but take action. They focus on their goals and achieve them. The poor are good at dreaming and wishing things were different, but that is all they do, dream. They don’t take practical action.

7. The wealthy surround themselves with successful people.

There is always one person in your social circle that you wish you could be like. They are the one who attracts success like a magnet. Instead of wishing, find out their secrets. Most good people are happy to help. Spending time with people you consider to be successful can be the surest way to stimulate your own success.

8. The wealthy never stop learning and growing.
Once they are wealthy, they don’t just say, “Ah, that’s enough, made it.” It is more like, “What else can I achieve?” Developing a money mind set and these habits and attitudes can help you improve your financial situation as you start to set and then try to meet your goals.

It’s never too late to start, and you’ll be amazed at how quickly you can turn things around. Start today and you can change your financial life in the most remarkable ways through the power of your transformed money mindset.

Further Reading

How to Transform Your Money Mindset