6 Key Differences In The Philosophies Of The Rich And The Poor: Do you believe in luck? Do you believe in fortune? What do you think makes a man - Hard work, luck or both? While I admit that some people are just unfortunate in life, I want to let you know that many of the world-over celebrated figures today did not have a fortunate upbringing. Some came from very poor backgrounds. Some did not have access to quality education. Some had health problems. Some managed their way to the top. So why did some people rise up to the top of their dreams and others fail woefully. This is the question I have tried to answer in my post titled “Six Key Differences in the Habits of the Poor and the Rich” and in this post. In the former, I try to share on the differences in the things the poor and the rich do, which makes them who they are. In this post, I will be sharing on the differences in their mentalities and philosophies. To me the difference between the rich and the poor lie in their mentalities and lifestyles. It is not because the rich do business, invest in shares and properties, go to school or maybe are connected to people who matter. It is because of the way they see life and wealth. It is their approach to these two things that make them who they are. It is my desire that as you go through this post, you will adopt the right philosophy that will set you up for the kind of wealth you desire. Take time to think deeply about each of these differences. They are: 1. Poor People think wealth is money; Rich people think money is wealth If you were asked what wealth is, what will be your answer? Many people truly think that wealth is money. And so in order to become wealthy, they have to work hard to make money. They believe that the more money you can make, the wealthier you become. This is a wrong mentality which the poor have and it is one of the reasons why they remain poor. The rich understand that money is wealth but wealth is a constituent of many things. So what the rich do is that they use money to acquire everything they can which falls under wealth and these things in turn bring them the wealth they desire. They invest their money in helping people, acquiring enough knowledge, in staying fit and healthy, in living well and balanced and in creating connections. All these are things that are capable of bringing them riches in the long run. Did you know that the wealthiest persons are people who have enough people around them, are very knowledgeable in the right things, are healthy and fit and live well? If you pursue money at the expense of these things, you are chasing wealth away. Use your money to acquire enough of these things. 2. Poor People Believe In Luck, Rich People Believe In Hard Work I have come across many people who live and hope that someday fortune will favor them and by the stroke of some luck, they will make money. Such people live their lives with this hope and are always at the mercy of the get-rich-quick preachers. Such people end up either committing crime in order to make it or they end their lives wretched. To think that you will make wealth by some kind of luck that will favor you is to put your life on chance. A few people get lucky in life and make wealth but for most of those who I have seen enjoy such luck, they did not even end up in wealth. They may have some money for a short time but hardly get rich for life. Of course the reason is clearly that of not having the financial intelligence to keep and grow the wealth they have. Rich people believe in hard work. Hard work that brings wealth is more of head work not hand work. It is when you apply your brain to strenuous consistent thinking that you are able to process ideas that will bring well. They poor don’t know this. The rich work hard and that’s why they are rich. 3. Poor People Earn Money To Increase Their Spending; Rich People Spend Money To Increase Their Earnings Do you know that the poor have a high habit of spending than the rich? Poor people dream of making more money just so that they can visit a super market of their choice and shop for the best things of life. Rich people get their satisfaction from making more money and the feeling that comes with knowing that whatever they desire, they can get. Poor people get their satisfaction from the things they acquire when they have some money and so they continue to work hard to earn more and spend more. When you earn in order to spend, you will remain poor. When you spend the little you get in order to earn more, you will spend on things that will generate more money for you and you will eventually make more money. Rich people buy assets while poor people buy liabilities and luxuries. What takes 60% of your income? What you spend up to 60% of you income on today, can tell me where you are going to be tomorrow. 4. Poor People Learn To Know; Rich People Learn To Apply One very big difference between the rich and the poor is in the application of knowledge. Most poor people know as much as the rich. When they speak, you can tell that they are very knowledgeable. However, they don’t apply the knowledge they have. And so they don’t make the wealth which the rich make. Knowledge is useless if it is not applied. The rich know this and that is what makes them who they are. While the poor people pride themselves in the so much knowledge they have, the rich pride themselves in the little knowledge they have applied that is working for them. This site called Wealth Result for example, is a fountain of wealth, not because when you come here you literary see a fountain where cash is flowing for you to grab. It is because when you come here you gain priceless knowledge that if you apply, will bring you much wealth. How much of the things you know, do you apply? Are you making plans to apply the things you are reading here now? If not, you are just wasting your time. 5. Poor People Fear To Take Risk; Rich People Live By Taking Risks Life is all about risks. It has always been so. It is a great risk to try living without taking risks. Unfortunately many people shy away from taking risks and their lives never amount to anything. What is it that thing you will do, if given an assurance that it cannot fail? That is the thing you need to start doing. The only thing that has stopped you from doing that thing you believe in so much, is your fear that it may not work out. Almost all the people we celebrate world over today as achievers, took very serious risks at some point in their lives. That is why they are where they are today and we admire and talk about them. Poor people prefer to stay on something that secures their tomorrow but keeps them on the same spot than to venture into something that may not work, but if it does, is capable of placing them on a position that they always dreamed of. This feeling is authentic and this mentality is reasonable enough but who said that to become rich you will always be look and sound reasonable. For most cases, rich people are hardly understood. Sometimes they don’t even sound reasonable to themselves at first until when the results start coming. The only way you can deal with your fears is to face them. Do the things you fear to do and you will soon master your fears and be more willing to take risks. This is when you will see the desired change happen in your life. 6. Poor People Believe In Savings; Rich People Believe in Investing Saving is the tendency of putting aside some money in order to make use of it in the future. The art of saving is not a new thing as it has been as long as the world has existed. People have always been encouraged to save money and in fact, many people have benefited a lot from the savings they have made in the past. There is not much risk in saving money and since the poor hate to take risks, they love to save. Unfortunately saving rather steals money from you. To save is to give your money to some other person who knows what to do to make it grow, while you are compensated a little for your trust. Hardly does the person who saves money realize that most often money continues to loss its value. Which means that if N500, 000 can get something for you today, there is a high tendency that in a year’s time, it will not be able to get you that same thing since its value would have dropped. Rich people get money from the poor, invest it, make more profit and pay back the poor, making money on the money gotten from the poor who are afraid to take risks. That is the game. I hope that with the knowledge you have gotten from this post you are no more ignorant. Making use of this knowledge is what will make the difference.
Posted on: Wed, 30 Oct 2013 14:55:18 +0000
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