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The Rich Mindsetvs Poor Mindset – 13 Key Differences

The Rich Mindsetvs Poor Mindset – 13 Key Differences

Why some people keep getting success in all the dimensions, while others remain poor through their entire life. Even after trying hard, they crave success and money. Successful people move from a mediocre life to a rich life, while others do not do anything considerable in their life, why? It is the difference in the mindset that brings such a big variance in their life.

Growth and success in life depend immensely on the right mindset of people. The approach, thinking, behaviour and management during different circumstances are due to the mindsets of people. Richness is not the outcome of luck and fortune; it’s a result of hard work, positivity and determination and, of course, the mindset. Many poor people are seen with a rich mindset, while many rich people carry a poor mindset. The terms rich and poor solely cannot describe the mindset of people. Mindset can transform poor to rich and riches to poor.

So what exactly is this mindset game? What are the key features of a Rich Mindset that can metamorphose somebody’s life? Do we know which mindset are we carrying? Let us dig into the key differences between the rich and the poor mindsets.

Key Differences between the Rich Mindset and the Poor Mindset

  • Attitude Towards Success

People with a poor mindset do not care about success. It doesn’t matter to them whether they succeed or not. Growth and targets are not of much value to them.

People with rich mindsets, however, yearn to succeed. Success matters a lot to them. Their plans and actions are focused on success. For them, it is the way of living life.

  • Blame Game

Poor mindset believes in complaining. It either blames circumstances or the people for the failure. They do not try to learn from the failures. To find the reason for failure and to overcome, is not their way of working.

A rich mindset takes the accountability of breakdowns and failures. Instead of complaining about people or destiny, they find out the reason and start working on it. These people learn from the defeats and double the efforts to achieve the target.

  • Investment and Saving Plans

Spending more and earning less is the common problem with poor mindsets. Their expenditures are high and do not save for the adversities. They consume whatever they earn.

People with a rich mindset invest money and build assets rather than spending it on avoidable things. For them, savings is a priority over meaningless expenditures.

  • Learning Skills

People with poor mindsets do not enhance their skills. Once settled, they stop learning and increasing knowledge.

Learning new skills is one thing for which rich mindset people are passionate about. They never stop enhancing their knowledge and keep themselves updated with the expertise required. It makes them more confident and good decision-makers that ultimately lead to success.

  • Dwell in Past

In place of living in the present time, a poor mindset dwells in past experiences. They remain stuck with the good or bad instances, happened in the past and make them responsible for the failure.

People with rich mindsets remain focused on the future. They plan targets for upcoming years and keep working towards achieving them. They do not waste time thinking about past experiences. They live in the present time and prepare for the future.

  • Income vs. Assets

Poor mindsets do not think beyond their income. They get the monthly salary which they spend on regular expenditures. Every month they wait for it or other income sources. Building assets is not their area of concern.

A rich mindset builds assets. They keep on increasing wealth by making assets and focus on the capital.

  • Thought Process

Thinking for small benefits or short term happiness is very common with poor mindset people.

Rich mindset people aim for big and long term targets. They do not waste their time on small benefits that do not give return value in future.

  • Transformation

Poor mindsets feel contented with what they have. They do not try to grow or change their life.

Rich mindset keeps trying to transform their life. They work hard to change their status and keep upgrading themselves.

  • Approach

People with poor mindsets do not appreciate the efforts of others. They criticise people and demotivate them.

A rich mindset encourages people and supports them to grow. They assist their team members in overcoming problems and help them to grow as a successful individual.

  • Value of Time

Poor mindsets do not value time. They waste precious time in non-productive activities.

People with rich mindsets use their time sensibly. Instead of wasting it on unnecessary tasks, they invest it in learning new skills and developing good habits. They value time more than money.

  • Problem vs Solution Focused

Poor mindset focuses on problems and uses them as an excuse for their non-productiveness.

Rich mindsets focus on solving the problem. They find out ways to overcome it. They help people and society by providing solutions to existing problems in the system.

  • Income Source

Poor mindset relies on a single source of income and does not try to expand it.

A rich mindset promotes having multiple sources of income. They use different modes of income in parallel. They take efforts to increase their income through multiple sources.

  • Work Driven vs Goal-Driven

People with a poor mindset are concerned with their job only. They do not try to improvise or grow in it.

People with rich mindsets are focused on their goals. They plan, make strategies and put their efforts to achieve the goals. They remain determined to achieve the target and do not give up.

Conclusion: A person can be rich or poor. You can change your destiny the way you want. All you need is to change your mindset. A positive, determined and growth-oriented person can never be stopped from moving forward. Such people not only change their life but also encourage others to move forward. By making themselves capable of fighting every odd situation, convert defeat into victory. With a rich mindset, they create a new story of success

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