Why You Are Still Poor!

in #money7 years ago

10 things that rich people do and poor people don't.

1. They believe in the law of income

This means they get paid in direct proportion to the value they bring to the market.

“You get paid in direct proportion to the difficulty of problems you solve”

― Elon Musk

2. The Rich Are Voracious Readers

The more you learn the more you earn and this is often accomplished through reading. Bill Gates reads a book a week, Mark Cuban spends 5 Hours every day just for reading and Elon Musk claims he learned how to build rockets by reading textbooks.

3. The Rich Focus On Opportunities

There was once a shoe salesman that found himself in a faraway country trying to sell shoes to the natives. The problem was no one in that country wore shoes and the sale was quite difficult. So he gave up and left. On his way back home he found another shoe salesman and said:

  • "Don't bother entering this town, these people don't even wear shoes!"

The other sales responded

  • "No one has shoes?? Then I can sell a pair to everyone in this town!! YES!"

It's all a matter of perspective, the poor often see obstacles and quickly give up, while the rich people see the opportunity.

4. The Rich Associate With Positive, Successful People

Rich people know that your social circle drives you to success. This is why individuals spend time with others who enjoy talking about success opportunities, and the positive things in life.

5. The Rich Are Willing To Promote Themselves And Their Value

Most rich people have a skill or idea that has brought them their wealth, as a result, they are not afraid to share their result with others, by promoting themselves.

6. The Rich Grow Their Wealth Bigger Than Their Problems

The poor see problems as obstacles instead of opportunities. While rich people get thrilled by new challenges. They understand that there is value in creating solutions to problems, which is the basis of many financial successes.

7. The Rich Think "Both", The Poor Think "Either-Or"

Opportunity cost means that if you choose one thing you are ultimately foregoing something else. In other words, if a person only has 5 dollars and want to buy a 5-dollar ice-cream, then he cannot buy a bubblegum pack with those five bucks.

That's how poor people think. They think that they can spend it on either one thing or another, but not both.

While the rich focused on how they can get both. Let's say the rich person has the same 5 dollars, for example, he would buy a 24 pack of water for those 5-dollars, then sell those for 50 cents each which brings 12 dollars and then he can buy the 5 dollar ice-cream and the bubblegum pack.

8. The Rich Focus On Net Worth, Not Working Income

Poor people often talk about hourly pay and rich people know that an hourly income is not nearly as important as someone's net worth. A large net worth will net many opportunities and will create more wealth in the future.

9. The Rich Are Dollar Smart

Rich people make discipline penny decisions while investing a large number of funds into conferences, paid mentorship and other activities that will foster continual improvement and financial success.

10. The Rich Network Connections

The rich understand the value in building connections, whether is making friends or finding potential clients, meeting new people only has upside

BlueDemon

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Wow I really liked this post.....very informational

Thanks =) I usually post related topics, If you enjoy feel free to upvote and follow =)

Good one Bluedemon! :)
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My favorite was the number 7. However, this makes me think in another good point to add.

The rich people prefer to spend money and pay someone else to do the trivial task. The poor people want to do everything to "save" money. But doing this they tun out of time to lean and improve new skill. So they are always busy doing something....

Yes, but they have to get this type of mentality because, if not, they'll lose their fortune very quickly. And with this type of mentality, they can accumulate wealth. =) Thanks bro

You forgot the main reason.

Rich people spend their income on things that go up in value like businesses and investments.

Poor people spend their income on things that go down in value.

This post was more of a "mentality type" than really a "what they do type".
But you're totally right and i appreciate the observation =)

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