Rich Mindset Vs Poor Mindset: 17 Amazing Tricks To Steal Now
The world you live in is defined by whether you have a rich vs poor mindset. The differences between them can be subtle or extreme. But it’s this mindset marker that makes your dreams possible or cages you forever.
So, what is the difference? And which one do you have? It’s time to find out!
What Is A Poor Mindset?
A poor mindset centers around one thing. Unwillingness to take ownership.
Taking 100% responsibility stinks sometimes. It means that if something isn’t working, that’s on you! But it’s also the only way you’ll get from where you are to where you want to be.
Poor mindset examples Sound like:
- Someone saying, “this is just the way it is” about something they have control over.
- “It’s the government’s fault.” Or the friend’s fault. Or anyone else’s fault but theirs.
- “Poor me. I have it so much harder.” This is a victim mindset and we all fall into it at times. Sometimes you are going through serious adversity. But wallowing in self-pity keeps you stuck.
- “You are wrong.” A poor mindset already knows everything. So, opposite perspectives are automatically incorrect.
Habits of the Poor Mindset
Now that you know what it sounds like, here’s what a poor mindset looks like. And if you’ve done these things before, don’t fret! Just know that it’s time to overcome your underlying beliefs about money.
- Buying lottery tickets because that’s the only way you’ll be “rich.” Quit giving your power away and invest that money instead.
- Making purchase decisions based on a monthly price instead of the total price of something (ex. it might be $500 a month. But did you realize you are paying $10,000 more for that car in the long run?)
- Buying quantity over quality. 15 cheap flashlights that you never use is not better than 1 great one. (See cheap vs frugal)
- Worrying about saving $5 when you can take the same amount of energy to make $50. Yes, be intentional about your spending. But also know that earning more money can be a much faster route to wealth.
Related: Why Can’t I Save Money?
Rich Mindset Values To Adopt
Next, these mindset tricks are used often, and have helped self-made millionaires and billionaires rise for decades. Steal them for yourself! Anyone can use them to achieve a higher quality of life.
1. Rich Vs Poor Mindset: Clarity of Vision
A rich mindset knows exactly what they want, and they don’t stop until they get there. They create specific financial goals and vision boards to help them define what’s most important to them.
Write down three specific SMART goals for your next 3 months.
2. Stop caring what others think
If I listened to well-meaning loved ones, then I’d never have my business. What they call a “hobby” makes more money than my old job, allows me to do what I love, and supports women in multiple ways.
But this “playing outside of the box” makes others uncomfortable too.
I’ve learned this has more to do with their baggage than anything you’ve done. And every second you waste worrying about it or trying to convince them is a moment wasted.
Write the name of one person whose opinion you need to let go of.
3. Think Investment Vs Consumption
When a poor mindset comes into money, their first thought is “what can I buy?”
But when a rich mindset does, they are looking to invest in ways that accelerate their vision. They invest in their health, their business, and their education. In doing so, they build long-term results.
Write down one way that you can invest in your future.
4. Have Consistent (often boring) Routines
It’s one of the least glorious aspects of a rich mindset. But here’s the secret: your success is determined by what you do daily. Not monthly. Or yearly. Every stinking day.
Routines are what make it possible to do the right thing instead of the easy thing.
Get up 15 minutes earlier tomorrow. Fill that time with reflection, exercise, or strategy building.
Or check out millionaire routine ideas and pick one thing >>
5. Rich Mentality Says No. A lot.
Because they understand that time is their most precious asset. Of course, they help people. But they also say no to anything that doesn’t align with their core values and priorities.
Say no to one thing today that doesn’t align.
6. Rich Vs Poor Mindset: Do You Grow?
I was recently in an intense discussion about what makes an excellent leader. After 20 minutes, our answer boiled down to one sentence.
The ability to constantly learn and apply that learning. (Yes, there are many other things too. But this is what we kept coming back to!)
A rich people mindset is about investing and improving. In a rich habits study, 233 wealthy individuals were interviewed.
Of this group:
- 88% read 30 minutes or more each day for purposes of self-education
- 63% listened to educational audiobooks to and from work
- 58% read biographies of successful people
- 51% read history books
- 55% read self-help books (Business Insider)
The rich know that one unexpected idea can result in a huge breakthrough.
See this list of money mindset books. Pick one up at the library to explore.
7. They Know The World Is Unfair
By understanding that the world will not magically give you your “dues”, a rich mindset bounces back from adversity.
Look at Oprah. She’s an African American woman who suffered sexual abuse as a child. Most would say that the deck was stacked against her. And yet, she has built a business empire that is astonishing in its size.
Advocate against injustices, but don’t let them take your power away.
8. Earning Active and Passive Income
A rich person mentality says that there are multiple ways to earn money. And that you should take advantage of more than one!
Active Income: The money a person trades their time for. If you are doing something that brings you purpose, then active income is a beautiful way to fill your days.
Passive Income: Money that comes in without your active participation. Now, this still requires work! But it’s not a direct time-for-money ratio. Examples of passive income include
- buying rental properties: you make money off of rent and home appreciation
- writing a book: you write it once and then make money on royalties
Make a list of 10 passive income ideas. Circle two that you’d like to explore further.
9. Rich Vs. Poor Mindset: One Has a Support Team
Success is never a one-person job. A rich person mindset understands this while understanding that they don’t know it all.
So, they build a team of people that help them focus on their core strengths (skyrocketing their progress).
A good support team consists of two types of people.
- Mentors. People they can go to for advice, tips, motivation, and wisdom. This can be online or in-person. Business or personal.
- Experts. Trusted people who help with the kids. A personal trainer. A cleaner. An assistant. An editor. A financial advisor. A chiropractor. The type of team will be different for everyone, but rich people understand that by investing in experts, they are able to perform at their highest level possible.
Make a list of support team members you have. And 1 or 2 you can add.
10. Rich Mentality: 10x Value
While a poor mindset is about what’s in it for you, a rich mindset is about providing value to others. A rich mindset goes the extra mile. Every time.
Today, give your customers more than they ever expected from you. 10x more.
11. Rich Mindset Gives Before They Get
A poor mindset considers only “tit for tat” help.
But the book Give and Take highlights the fact that the most successful people in business are actually givers. They give without worrying about what’s in it for them.
Because their relationships are based on liking and trust, people are more than happy to bend over backward for them later.
Give to someone who isn’t expecting it today with no thoughts of what you’ll get in return. What can you give? Advice. A helpful review or testimonial. A recipe. Extra time.
12. Poor Vs Rich Mindset: Is it a Problem? Or a Solution?
Where many others see problems, a rich mindset looks for opportunities. Problem solve to find solutions others miss and you’ll have more money than you know what to do with.
Write one problem that you’re trying to solve. Spend 10 minutes thinking quietly about it.
13. Rich Mentality Thinks In Abundance
A rich mindset realizes that there’s enough out there for everyone to succeed. It’s not about hoarding and obsessing over what is lacking.
People get lost in the “never enough.”
Financial abundance comes down to giving to others (because you have enough yourself) and cheering others on (because you can both be successful)
Write down one way that you can give or encourage someone today.
14. They Are Not Afraid To Fail
A rich mindset says that failure is part of the process. Without it, you can’t succeed at life. Or as J.K. Rowling puts it…
“It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all—in which case, you fail by default.”
15. They Live Below Their Means
No matter how much money they make, a rich mindset understands that there should be a gap between your income and spending. They may treat themselves, but they never sacrifice their long-term dreams for short-term fun.
Spend 5 minutes looking at your income and spending to see how much you are saving.
16. Rich And Poor Mindset: Knowing When To Quit
Even when others think they are crazy. Of course, they quit strategically when they know a pursuit is no longer worthwhile. But it’s not in reaction to short-term pain, which is the way most others quit.
Think of one thing you’d like to quit. Now, is it due to short-term pain or inconvenience?
17. Money Management Is Important
Some people earn lots of money, but don’t understand the role of managing your money well. A rich mindset realizes that like any other good habit, you must track where your money is going – whether that’s to new shoes or retirement accounts.
You don’t have to be obsessive (we’re busy!), but having a weekly, monthly, and/or yearly sit down is crucial for staying on target. After all, you never want to let a rich mindset slip into a poor one.
Schedule a financial sit down on the calendar now.
More Ways To Develop a Rich Mindset
When you think of your last week, did you employ a rich mindset or a poor mindset? While the action tasks above are incredibly helpful, these will build a stronger mindset too.
Practice Gratitude
Take the time to appreciate what’s going well in your life. Focus on the good and it will multiply – making you feel abundant, generous, and happy. Rich mindset people have a positive outlook and acknowledge their blessings.
Check on Your Goals
Studies show that those who revisit and rewrite their goals achieve them more often.
Use Affirmations
As soon as you notice a negative thought, replace it with a better belief. Instead of telling yourself you “can’t” constantly, reword these into “how can I”.
Or try one of these affirmations:
- I focus on high-value activities.
- I start my day grateful for the good that surrounds me.
- The only approval I need is my own.
- I lead my life based on my dreams of what is possible.
- I can figure out anything that I put my mind to. (And everything is figure-out-able)
- If it’s meant to be, it’s up to me.
See the full success affirmations list >>
Read Biographies
Pick up biographies of people who came from nothing and made beautiful work of their life. These people will not only inspire you, but help you understand their mindset as well.
30 Rich Vs Poor Mindset Quotes
Finally, these rich mindset vs poor mindset quotes will make you feel ready to take on the world.
1. “There are no limitations to the mind except those we acknowledge. Both poverty and riches are the offspring of thought.” – Napoleon Hill
2. “The rich invest in time, the poor invest in money.” – Warren Buffet
3. “Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.” – Zig Ziglar
4. “Failure is so important. We speak about success all the time. But it is the ability to resist or use failure that often leads to success.” – J.K. Rowling
5. “Formal education will make you a living; self-education will make you a fortune.“ – Jim Rohn
6. “The problem human beings face is not that we aim too high and fail. It’s that we aim too low and succeed.” – Michelangelo
7. “Mind is a flexible mirror, adjust it, to see a better world.” ― Amit Ray
8. “The only limit to our realization of tomorrow will be our doubts of today.” – Franklin D. Roosevelt
9. “There is no failure. Only feedback.” — Robert Allen
10. “Don’t be too timid and squeamish with your actions. All life is an experiment.” – Ralph Waldo Emerson
11. “I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Edison
12. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
13. “I am facing a challenge, I am not facing defeat. Remember this.” – Nikki Rowe
14. “I am always doing what I cannot do yet. In order to learn how to do it.” Vincent Van Gogh
15. “You may have to fight a battle more than once to win it.” – Margaret Thatcher
16. “There are three musts that hold us back: I must do well. You must treat me well. And the world must be easy.” – Albert Ellis
17. “Poverty is not just a lack of money; it’s a lack of options.” – Michael Sheen
18. “Success means doing the best we can with what we have. Success is the doing, not the getting; in the trying, not the triumph. Success is a personal standard, reaching for the highest that is in us, becoming all that we can be.” – Zig Ziglar
19. “The mind is a powerful thing. It can take you through walls.” ― Denis Avey
20. “I don’t divide the world into the weak and the strong, or the successes and the failures. . .I divide the world into the learners and the non-learners.” – Benjamin Barber
21. “What you feed your mind, will lead your life.” – Kemi Sogunle
22. “Effort is grossly underrated.” — Gary Vaynerchuk
23. “There is always a step small enough from where we are to get us to where we want to be. If we take that small step, there’s always another we can take, and eventually, a goal thought to be too far to reach becomes achievable.” – Ellen Langer
24. “Doing the best at this moment puts you in the best place for the next moment.” – Oprah Winfrey
25. “The only thing standing between you and your goal is the story you keep telling yourself that you can’t achieve it.” – Jordan Belfort
26. “We like to think of our champions and idols as superheroes who were born different from us. We don’t like to think of them as relatively ordinary people who made themselves extraordinary. ” – Carol Dweck
27. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
28. “Believe you can and you are halfway there.” – Theodore Roosevelt
29. “It’s kind of fun to do the impossible.” – Walt Disney
30. “Your future is created by what you do today, not tomorrow.” – Robert Kiyosaki
To Consider With Rich Mindset Vs Poor Mindset
Keep in mind that a rich mindset applies to more than money. You can be rich in relationships, health, and all aspects of life too.
But strangely enough, the same principles apply! It’s pretty amazing, isn’t it?!
