What separates the rich from the poor-Rich vs. Poor Mindset

This world consists of many types of people. Some are successful; some are not. Some are intelligent, and some are average, some of them are rich, and some of them are poor. Many factors distinguish the poor and rich, but the factor which plays the most crucial role is a mindset.

The mindset of a person has the power to build a person's future or break it. Being abundant is not all about the money; it's about the circumstances. There are people around the globe having a wealthy Mindset, but financially weak due to conditions.

A simple change in your mindset can divert your direction to being successful as you desire. To make your dreams come true, one doesn't need to work hard only, but has to be an optimist too. Sometimes it's not all about the journey; it's about facing the hurdles in the journey with hope.

Differences between Rich Mindset vs. a Poor Mindset

If you are the one willing to change your mindset, then you have chosen the perfect place. After reading the differences, we hope you will feel the change in your mindset and perspective. There are many differences between a rich mindset and a poor mindset. 

Here are some of the significant differences:

Note: it should be noted that the differences described below are not to offend or disrespect anyone's mindset. This article merely plays the role of changing anyone's mindset to attract success, wealth, and goals. Rich and poor mindsets, both are respectable for us.

Resourcefulness

A rich mindset knows to prioritize things. It understands that the priority is to gain the excess of resources. The next step is to use that excess of funds as an opportunity to accelerate education, business, and whatsoever possible. 

A poor mindset has one thing in mind, which is to make enough living for a day. Poor people never think big. They see the excess of resources as an opportunity for utilization and inflate lifestyle.

Maximizing hours to payback

Every person has the same number of hours in a day, be it rich or poor. 

Rich mindset spends their time, energy, and resources on long time work. The work continues to pay them off even after the effort has been invested. Wealthy people prefer to build momentum and establishing systems that continue to produce money on their own. They make money work for them.

A poor mindset does no commit long term investments. They work on hours for dollars. If they don't work for a day, they won't get any income for that day. They don't have any backup plans. They believe that resources invested for immediate return are the only useful resources.

Risk vs. Reward

A Rich mindset believes in investing with no immediate outcome and reward. It takes a calculated risk with long term investments and doesn't only look for a clear profitable path every time. With every decision, there is a risk of downside. They take this downside in the market as a sale on the stock. 

A Poor mindset immediately jumps to the conclusion thinking what is in the investment for me? If they have extra money, they don't take a risk to invest it, instead save it, and who knows they will get to spend it or not. They always choose the safer routes.   

Solutions vs. Excuses

A Rich mindset understands how to shift problems to solutions. Rich people never complain; instead, they look for every possible solution to their problem. Once you start looking for solutions rather than complaining, you will never be the same.

A Poor mindset finds it a whole lot easy to complain rather than looking for solutions. There focus on things, which they can't control instead of focusing on things they can control. They keep sitting on hand till they go numb.

Learning

Most of the successful people in life are those who never quit learning. Learning is a process for a lifetime, not for any particular event. Warren Buffet reads five hours every day and, Bill Gates reads 50 books a year.

Vibrant minds are goal-oriented. They have the desire to learn new things every day. It helps them acquire knowledge, which leads them to a successful life. Vibrant minds learn new things by reading every day for at least 30 minutes.

A Poor mindset finds it more than enough to learn till school. Poor people stop learning as soon as they are out of school. Without continued education, there is no compound for them. They don't stay up to date to the latest knowledge and research, which makes them obsolete. 

Mentor Mindset

A wealthy mindset has the guts to accept that reality that it can never know everything. Rich people are always keen to learn something from everyone. 

A Poor mindset deceives itself into believing that it knows everything, and rejects the opposing perspectives, even before hearing them. 

Competitive Mindset  

A Rich mindset loves to engage itself into competitions and knows that iron sharpens iron. 

A poor mindset never embraces competition. It always sees its competitor as a more capable person than them. They find it beneficial to quit rather than putting their efforts to compete. 

Wrap up

It is concluded from the above differences that it is essential to literate ourselves financially too. Being rich depends on your mindset more than your efforts.

Suggestion: learn more about financial literacy by reading a book by Robert Kiyosaki, "Rich Dad Poor Dad."

Author bio:

Oliver from Washington is a content writer and motivational speaker. He thinks the best thing one can do is to influence others through his words.  Oliver writes blogs on different topics to bring up a poor mindset. He has a passion for learning new things daily. Reading books is his favorite yet necessary activity.