Rich or Poor – Your ChoiceHow You Think About Money Largely Determines Whether You’re Rich or Poor

Rich and Poor People Think Differently About Money

Have you ever wondered what determines whether you’re rich or poor?

Your mindset has a lot to do with it.

Lack vs. Abundance Mindset

Lack

“I don’t have any money.”

“I wish there was a way to get more money.”

“There are no jobs out there.”

Abundance

“I can earn all the money I want.”

“I can do so many things to get money.”

“I can sell my skills and services to others.”

When Opportunity

KnocksPoor People:

Don’t notice opportunities to make money

Usually don’t take advantage of them

Wonder, “How much will it cost me?”

Rich People:

Keep eyes open for all opportunities

Take advantage of opportunities

Think, “How much can I make?”

When Opportunity Knocks—Example

Paul has a job but complains he doesn’t have enough money. He’s annoyed at all the yards in his neighborhood that aren’t well-kept.

James lives in the same neighborhood. He wants to live a financially secure life. He notices the lawns, too.

What will Paul and James do about these yards?

Paul’s friend, Sam, is disabled and tells Paul:

“I wish I could mow all these lawns and trim bushes, but I’m physically unable to.” Why don’t you do it?”

Paul says, “It will cost too much.” “It will take up my weekend.”

James says:

“I think these owners need some help with their yards.”

“I could make another $100 a week mowing these lawns.”

“I’ll stop right now to offer my services.”

Who do you think will make

that $100+ extra weekly?

? ??

? ?

?

InvestingA Poor Person:

Overwhelmed by fear

Asks, “How much can I lose?”

A Rich Person:

Confident

Asks, “How much can I make?”

Short-Term vs. Long-Term Thinking

A Poor Person:

“How will I pay this month’s bills?”

“I never have any money.”

A Rich Person:

“I want to meet my savings goal at

year’s end.”

“I’m saving now for my kids’ educations.”

Price vs. Value

The Poor Think:

“Wow, look at that sale price!”

I’ve got to have that.”

“I can’t pass up that price.”

The Rich Think:

“That’s a good price but do I really need it?”

Will the item have value for me in a year or 2?”

“Can I use it to make money?”

Who’s the Boss?The poor are either trying to find a job, waiting to get a job or making an effort to keep hold of a job.

The rich prefer to work for themselves to reap more of the profits that their work yields. The rich have confidence in their own ability to make decisions.

Dealing with Challenges

A Poor Person:

Feels overwhelmed

Avoids confronting the challenge

Thinks of excuses for the situation

Blames other people and things

A Rich Person:

Has confidence he can handle the challenge

Confronts the situation

Resolves the issue

Makes it work out

Power

Responsibility

Control Action

The poor believe they’re victims of circumstances. The rich believe they have power to increase their dollars.

Do You See the Power You Have Over Your Money?

Responsibility Control Action

DreamsDo you dream small or

big?Poor people dream small

and hope their dreams come

true.Rich people

dream big and strive to make their dreams

happen.

LearningHow open are you to learning new information about finances?

Those who think poor are less open-minded to learning new info.

Those who think rich are open to new knowledge and are in a constant state of learning.

Cash Flow

What is…Cash Flow?Good Debt?Bad Debt?

Cash

flow

• Your paycheck• Other income streams

Good

Debt

• Debts you pay that will ultimately earn you more than you paid

Bad Deb

t

• Debts you pay that bring you no return on your money

• Examples are your phone bill, utility bill and cable bill

Tips to Change Your Mindset

How can you alter your mindset to be more like the rich?

Affirmations

Positive Self-Talk

Meditation

VisualizationJournaling

Spend time with those with a rich mindset

Develop business mastermind group

ConclusionsYour mindset about money largely determines the kind of financial life you’ll lead.

You have the power to change your money mindset.

Learn to think rich and live the life you desire!

“Being broke is a temporary situation.

Being poor is a state of mind.”

–Mike Todd

We hope you enjoyed your Special Report!

Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog.

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