Updated: July 13, 2020
Sometimes, a person’s greatest barrier to wealth is their own belief system.
Your mindset about money, the value you put on your work, the principles you uphold in your decision-making, and how you react to life’s many circumstances can dictate how your financial future will be.
The following is a summary of how a person with an abundant mindset thinks differently from someone with a scarcity mindset, as shared in the book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker.
Check yourself against this list, and see if you have a rich or a poor mindset.
Rich mindset belief: “I create my life.”
Poor mindset belief: “Life happens to me.”
Rich mindset plays the money game to win.
Poor mindset plays the money game to not lose.
Rich mindset is committing to become rich.
Poor mindset is just wanting to become rich (but doing nothing).
Rich mindset is thinking big.
Poor mindset is thinking small.
Rich mindset focuses on opportunities.
Poor mindset focuses on obstacles.
Rich mindset is admiring other rich and successful people.
Poor mindset is resenting rich and successful people.
Rich mindset associates with positive, successful people.
Poor mindset associates with negative or unsuccessful people.
Abundant mindset: willing to promote themselves and their value.
Scarcity mindset: thinks negatively about selling and promotion.
Abundant mindset: thinking that they are bigger than their problems.
Scarcity mindset: thinking that they are smaller than their problems.
Abundant mindset: being an excellent receiver of compliments.
Scarcity mindset: tend to be a poor receiver of compliments.
Abundant mindset: prefers to get paid based on results.
Scarcity mindset: prefers to get paid based on time.
Abundant mindset: thinks “both”.
Scarcity mindset: thinks “either/or”.
Abundant mindset: focus on growing net worth.
Scarcity mindset: focus on increasing their working income.
Abundant mindset: knows how to manage their money well due to financial education.
Scarcity mindset: tends to mismanage their money due to lack of financial education.
Abundant mindset: their money works hard for them.
Scarcity mindset: works hard for their money.
Abundant mindset: acts in spite of fear.
Scarcity mindset: lets fear stop them.
Abundant mindset: constantly learns and improve.
Scarcity mindset: thinks they already know enough.
Now you know the powerful differences between having a rich mindset vs a poor mindset. Now time to ask yourself… which type of mindset do you have?