The difference between people who have money and those that struggle is simple… it’s their attitude about money.
Let’s take a page out Robert Kiyosaki‘s “Rich Dad Poor Dad”, a book that made a tremendous difference in how I started looking at money.
Poor And Rich Attitudes About Money
Poor Attitude – I can’t afford it, a sign of mental laziness.
Rich Attitude – How can I afford it?
The poor attitude makes you focus on the fact you can’t afford it, but when you rephrase the question to How Can I Afford It, you immediately shift your focus on the solution. You’re giving your brain a specific target to look for, and you will start seeing ways to do it.
Poor Attitude – Study hard so you can find a good company to work for.
Rich Attitude – Study hard so you can find a good company to buy.
It’s the employee vs. business owner mentality. This is especially important with kids.
Most people would like to be in business for themselves for all the obvious reasons, like money and freedom, but don’t believe they can do it.
Poor Attitude – The reason I’m not rich is because I have kids.
Rich Attitude – The reason I must be rich is because I have kids.
Using your kids as an excuse only gives you a mental break, an excuse, and makes them a victim. Again if you simply change the attitude to the reason I must be rich because I have kids, you’re now activating your subconscious mind to start looking for and seeing opportunities.
Poor Attitude – When it comes to money, play it safe, don’t take risks.
Rich Attitude – Learn to manage risks.
Some say investing is risky, but keeping your money where it’s earning you less than the inflation rate is risky too.
Starting a business is risky. But what about leaving the security of your family in the hands of a corporation whose goal is their bottom line, not your family, isn’t that risky?
There’s always an element of risk. But if you want to shoot for greatness, you can’t safely tip-toe your way to a grave. You’ve got to take a chance and go for it.
However, that doesn’t mean you need to blindly dump money into everything you see.
Successful entrepreneurs learn to manage risk. Just look at Shark Tank. Sure, every investment by the sharks has some risk, but they get all the details they need to mitigate the risk as much as possible.
Poor Attitude – Forbid the subject of money to be discussed.
Rich Attitude – Encourage talking about money.
Now this is a BIGGIE.
Forbidding to discuss money, only creates an energy of lack. What kind of beliefs can a child develop and carry through their adulthood with this kind of conditioning? And is it any wonder so many adults have some seriously screwed up beliefs about money?
Poor Attitude – Rich should pay more taxes to take care of the less fortunate.
Rich Attitude – Taxes punish those who produce and reward those who don’t produce.
This attitude simply produces a victim mentality. If you’re healthy both physically and mentally why should someone else take care of you?
This is also an attitude of resentment. And resenting people who have money is a sure-fire way to not make any yourself.
Besides, the top 1% pay about 95% of all the taxes in United States. So they actually do pay all the taxes.
Poor Attitude – Has a habit of putting his brain to sleep when it came to money matters; As a result grows financially weaker.
Rich Attitude – Has a habit of exercising his brain to money habits; grows financially stronger.
I can’t tell you the number of people I’ve seen over the years in my financial business, that the moment we started talking about money and planning, they said something to the effect of… I’m so bad with money, or when it comes to money matters my brain is dead, or something like that.
Why would you say that?
And what do you think they’re finances looked like? Also, you think they can they change it with a plan, without changing their attitude? Not a chance.
Poor Attitude – Our home is our largest investment and our greatest asset.
Rich Attitude – My house is a liability & if your house is your greatest liability, you’re in trouble.
I think we’ve all seen what can happen to real estate prices.
But I remember in the 90’s people thought their homes truly were their assets. And then 10 years later they got hit in the face with reality.
Poor Attitude – Pays his bills first, himself last, if any left.
Rich Attitude – Pays himself first, his bills last.
Rule:Pay yourself first. There’s always money when you need it.
It’s not how much you earn, but how much you keep that matters.
Poor Attitude – Believe in a company or the government taking care of you and your needs, always concerned about pay raises, retirement plans, medical benefits, sick leave, vacation days and perks. The idea of job protection for life and job benefits were more important, at times, than a job.
Rich Attitude – Believe in total financial self-reliance. Believes entitlements create weak and financially needy people.
Rich Attitude – I’m a rich person, and rich people don’t do this.
There’s a difference between being poor and being broke. Broke is temporary and poor is eternal.
Anytime there’s a recession, you see layoffs and benefits are being cut. The people who hurt the most are the ones who developed this attitude that “someone will take care of me”, and weren’t prepared to change.
For others, it actually opened doors of opportunities.
Poor Attitude – I’m not interested in money and money doesn’t matter.
Rich Attitude – Money is power, options, choices.
If you’re not interested in money, money won’t be interested in you. Simple as that.
Poor Attitude – Poor because of his thoughts and actions, not because of amount of money he earned.
Rich Attitude – Rich because of his thoughts and actions, not because of amount of money he earned.
Thought: Money is one form of power, but what is more powerful is financial education. Money comes and goes, but with education in money you gain power over it and can begin to build WEALTH.
Thought: Life pushes us all around, into submission. Some give up, others fight!
Example: Person gets laid off. Some go collect unemployment, while others look for better opportunities.
Our greatest asset is our knowledge, our thoughts, our ideas, and our ability to create. The more educated you become about money, the more solutions you can come up with.
Thought: It’s fear that keeps people working at their jobs. The fear of not paying their bills, being fired, of not making enough money, of starting over. And of course the fear of failure.
Poor Attitude – Money is in control of their emotions and therefore, their souls. Money runs their lives. Money soothes their souls which are troubled by fear and desire.
Thought: A job is really a short term solution to a long term problem.
Thought: The main cause of poverty or financial struggle is fear and ignorance, not the Economy, the Government or the rich.
Thought: To wake up in the middle of the night terrified about bills is a horrible way to live.
Thought: Money without financial intelligence is money soon gone. It’s not how much money you make, it’s how much money you keep.
Poor Attitude – Acquire liabilities, for they think they are assets.
Rich Attitude – Acquire assets.
Poor Attitude – Only have expenses, liabilities they think are assets. Cars, homes, boats, etc…
Rich Attitude – Buy assets.
Assets are those things that appreciate in value and/or provide income streams.
Poor Attitude – “If you don’t get good grades, you won’t do well in the real world.”
Rich Attitude – Understands and values the right kind of education. Grades don’t matter in the real world.
Poor Attitude – Uses the word “can’t” a great amount.
Rich Attitude – Hates the word “can’t”.
“Whether you believe you can, or whether you believe you can’t either way, you’re right” – Henry Ford
Poor Attitude – Work for someone else, makes owner rich. Work for the government, has to pay taxes. Work for the bank, mortgage and credit cards, because they’re the biggest expenses.
Thought: Wealth is a persons ability to survive so many number of days forward, or if I stopped working today, how long could I survive.
Thought: Primary reason the majority of poor and middle class are fiscally conservative in “I can’t afford to take risks” is that they have no financial foundation. They have to cling to their jobs and have to play it safe.
Poor Attitude – Save money, get interest.
Rich Attitude – Invest money, get returns.
Poor Attitude – Has poverty consciousness.
Rich Attitude – Have wealth consciousness.
What are you focusing? Lack or Abundance.
You can’t plant cucumber seeds and expect corn.
Poor Attitude – Low financial I.Q.
Rich Attitude – High financial I.Q. I’d rather be excited about making millions than worrying about not getting a raise.
Poor Attitude – Lose their jobs and hours, they blame technology, the economy and their bosses. The real problem is their ideas are old and their biggest liability.
Poor Attitude – Have one solution; work hard, save and borrow.
Rich Attitude – Have one solution; make money.
What you focus your thought energy on, is what you get.
What goals are you giving your subconscious mind?
Poor Attitude – Work for money.
Rich Attitude – Work to learn.
Poor Attitude – Think talent is enough, earn little though. The world is filled with smart, talented, educated and gifted people, but not the skill of making money.
Rich Attitude – Have developed the main skill of making money. Makes them creative allows to see opportunities where others don’t, and because of that they’re able to adapt to change.
Poor Attitude – Only skill they know is to work hard.
Poor Attitude – Work hard enough not to be fired and owners pay them enough so workers won’t quit.
Focus is working for pay and benefits that reward them in the short term, but is often disastrous in the long run.
Poor Attitude – Trapped in the life long process of paying bills.
Poor Attitude – The world is full of talented poor people, they focus on perfecting their skills at building a better product rather than the skills of selling and delivering their product.
McDonalds may not be the best hamburger, but they are best at selling and delivering an average hamburger. By the way there’s nothing wrong with creating the best products and being great at selling them.
Poor Attitude – Succumb to fear – the difference is how the rich and poor handle the fear of losing money.
Poor Attitude – Do nothing, avoid the issue.
Rich Attitude – Confront, discuss, plan, strategize, believe that winning follows losing.
Poor person invests, the market drops, they loose some money (on paper) and their attitude now, “I will never invest again”.
Rich person looks and takes an educational approach. Maybe they should wait ‘till the market recovers, or take their losses, and reinvest because there are other opportunities available.
Rich Attitude– Don’t bury in their failures, they get inspired by them.
Rich Attitude – Turn every disaster into an opportunity.
Poor Attitude – Failure defeats them.
Rich Attitude – Failure inspires them.
“Every failure brings with it the seed of an equivalent success” – Napoleon Hill
Failing Forward – John Maxwell. Bad before good, good before great. Crawl, before you can walk, and walk before you can run.
Society teaches that failure is bad. Schools teach you that. If you fail your exam your GPA drops, you won’t get into a good college and so forth. Failure is a temporary set back and a necessary stepping stone.
Don’t look at failure as failure, but as the necessary feedback you need to change course in your direction.
Rich Attitude – What would my life be like if I never had to work again or what would I do if I had all the money I needed?
If you ask yourself this question and start coming up with the answers, you subconscious mind will go to work to materialize those thoughts.
“If you’re going to work hard anyway, you might as well get rich, and the quicker the better.” – T. Harv Ecker
The last thought that I want to share is that you have to start developing good feelings around money.
Start paying attention to how you feel when you pay your bills, when you’re out shopping, when you see something you want, or when your kids ask you to buy something, become aware of your thoughts and how they make you feel in that moment.
And if you notice any negative emotions when the topic of money comes up, or towards people who sell and promote their products, know that it’s a symptom of your attitudes and limiting beliefs about money and wealth.
Your attitude is a choice. So choose wisely!
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