The Real Gap Between The Rich and The Poor Is Not The Money
This article is posted under Mindsetting.Society is basically made up of the rich, the middle class and the poor.
And between these groups, the most obvious difference is the amount of money they have.
Personally, I believe that the real gap between the rich and the poor is really NOT their monthly income.
To think that the only difference between the haves and have-nots is the size of their bank account is very short-sighted.
Because in reality, the amount of money one has is actually just a consequence of one’s mindset and actions – and that is where the real gap lies.
But aside from the rich and the poor, there is also the middle class. How different are they from the two? Moreover, why do some people manage to get out of being poor but get stuck in being middle class? Why can’t they progress and become rich?
Below is a list of comparison that will answer these questions.
Goals and Lifestyle
- Poor: Survival; thinks from day to day – a hand-to-mouth existence
- Middle Class: Comfort; thinks from paycheck to paycheck
- Rich: Freedom; thinks from year to year and far beyond
Spending and Debt
- Poor: Pays in cash or debts
- Middle Class: Pays through credit cards and revolves debt
- Rich: Pays through credit cards but pays in full monthly, knows how to leverage debt
Thoughts and Conversations
- Poor: Talks about people
- Middle Class: Talks about material things
- Rich: Talks about ideas
Work Attitude and Mindset
- Poor and Middle Class: Plays it safe, works just enough, satisfied with mediocre results
- Rich: Takes calculated risks, challenges oneself to excel and be the best
Money and Opportunities
- Poor and Middle Class: Scarcity; opportunities are few and money is hard to come by
- Rich: Abundance; there are a lot of opportunities out there for me to make money
Attitudes and Motivation
- Poor and Middle Class: Impatient; I want to live in comfort today
- Rich: Delays gratification; I sacrifice today, so I can live in comfort for many days in the future
Luxuries and Obstacles
- Poor and Middle Class: I cannot afford it. I cannot do it.
- Rich: How can I afford it? How can I learn to do it?
Success and Wealth
- Poor: Lottery, marry someone rich
- Middle Class: Inheritance, advancement of career
- Rich: Frugality, business and investments
Recreation and Fulfillment
- Poor and Middle Class: Distractions and escapes (television, gossip, etc.), surrounds oneself with material things
- Rich: Life enrichment, self-growth, helps and provides value to others
Ask yourself, where does your mindset stand today? It’s never too late to change.
Subscribe to Ready To Be Rich and learn more how you can create a positive turn in your life today.
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Photo credit: rubyblossom and mikebaird
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Hi, my name is Fitz and this is my blog on personal finance.
Love this post, Fitz!
Very inspiring!
Yeah! it keeps the ball rollin’! nice post fitz! mabuhay ka!
That’s deep, but true. I have a short attention span with complainers and limited thinkers. Why be poor or even rich why not be wealthy? Great post.
As an avid follower of your blog, I just want to say this is a great article. I actually re-posted it on my facebook wall so that my friends can read it. Thanks Fitz! Keep ‘em coming.
Another excellent post Fitz, thanks! I totally agree especially with what you wrote about having distractions/escapes like television, etc. It really is crazy for someone to wonder why his/her life is going nowhere if all he/she does is watch TV all day… tsk tsk.
This is, so far, my favorite article amongst all your articles. Thank you for sharing this! You don’t how much I always look forward to reading your next article
Hey,
I like the bit about thoughts and conversations.
I think there’s a quote by Eleanor Rosevelt about that saying the same thing, but referring to small minds and great minds. The great minds, as you might guess, are the ones that talk about ideas.
Thanks for the illustrations,
Guy
very psych
I definitely agree with this Fitz! Mindset is the key. Looks like I’m on the right track.
This is an outstanding post. I’m going to link to it in a post I’m preparing to add to my site tonight.
So true…money mindset separates the rich from the poor and middle class. Thanks for this article Sir Fitz. This blog is among the resources that helped me changed my “employee mindset” to “entrepreneur and investor mindset.” Keep it up!
it’s nice to know I have the characteristics of the rich, except for the money. but hey I can wait… nice post.
wow, i just realized i have most of the characteristics of the rich. its just a matter of time. thanks for sharing Fitz!
“Poor and Middle Class: I cannot afford it. I cannot do it. Rich: How can I afford it? How can I learn to do it?” -very true. We should learn from this one. nice post!
very same principle from “Rich Dad, Poor Dad.”
I love this post.. Thank you.
Great post, reading it, it appears I have more in common with the Rich class than the middle class.
Perhaps I’m approaching the upper middle class faster than I thought after all…
everything is true…great article Fitch!!!
Nice post, Very inspiring, additional ideas for us.
Thanks for the always inspiring post Fritz. Can I post this in my blog, so I can also share? Please let me know before I post. Thanks again.
@Randy, sure you can share it in your blog. Please just put a link back to the original article. Thanks!
@Fitz, done. Please let me know if I need to change anything. This is my first time to just copy and paste an article. Yours is just inspiring, hehe!
Thanks, Reminds me of T. Harv Eker
The monetary system has to simply go, it has created these social stratifications, elite, rich, middle class, poor
here watch this:
http://www.youtube.com/watch?v=Y_YxNG3nUUk
Watch zeitgeist on the internet
http://zeitgeistmovie.com/
Very, Very inspiring! Love reading your post!
very influential reading material! i love it
Very nice insight.
I haven’t read about these yet. But I always remember my mentor saying that lucky are those kids raised by either poor or rich families, in terms of life experiences – which is an advantage.
Life is a school. Experience teaches us. Without experience one will find it hard to get the desired results in life. Middle class people are raised in comfort. And there’s not much life-experience within the comfort zone, thus, the saying “Get out of the comfort zone”.