The subject of being rich or poor is largely sensitive because of many variables. However, I want to speak about it in a slightly different manner to not sound crude. It is commonplace for people to measure whether or not someone is rich or poor based on money or material possessions. Personally, I think that is somewhat flawed; in fact, it can be subjective to measure using that approach. That is not really my focal subject here. There are so many factors that can separate people along the lines of who is poor and who is rich. I will briefly look at that first and then I will get into the fundamental differences I want to major on.

External Circumstances Or Factors

Some circumstances or factors can lead to some being rich whilst others will be poor. No one chooses the family they are born into and as such, some are born with a silver spoon in their mouth. This also implies some are born into families riddled with unfavourable circumstances that lead to one being poor. This starting point can significantly reduce one’s chances of ever getting a shot at being rich. Some will never be able to access quality education because of this. Then of course the state of the economy in one’s country usually plays a huge role in whether or not someone ends up rich or poor. You can consider the Zimbabwean example where most monetary, fiscal, and general policies that are enacted are counter-productive for most people. Such circumstances can be beyond someone’s control. These are just some examples to highlight that at times it is borne out of factors or circumstances one does not quite have control over.

Others Make It Regardless…

Despite the aforementioned aspects some do end up getting rich. Now, I am very much aware that some get to cut corners through all sorts of corrupt or illegal means. I am not premising my talking point here on that. I am referring to those who honestly and diligently end up getting rich. This all points to the fact that circumstances might not be a perfect excuse after all. That brings me to the crux of this article where I want to discuss the fundamental differences between the rich and poor. It is all anchored on one’s mindset which ultimately informs everything they do. For instance, blaming it on the government and maybe on the family one was born into is in itself a type of mindset. This is substantiated by the fact that some do honestly make it despite coming from or subject to the same circumstances or factors. Bear in mind everything I shall be discussing from this point this forward is referring to mindsets that differentiate the rich and poor.

Outlook On Life In General

Poor people tend to be myopic i.e. they do not have a long term outlook on life. Some just plan a day in advance, some up to the weekend. The vast majority do not even plan at all; they just live anyhow without any sort of projected plan. For those who have jobs, the only form of planning they might ever do is up till the next salary. This all differs greatly from rich people who project themselves into the future. They put together short, medium, and long term strategic plans for their lives. Strategic planning is not just for corporates, no; you can devise one for your life.

Spending Habits

Poor people rely a lot on debt; if they have a need they would rather borrow. When a debt is due they most likely will borrow some more from somewhere to cover up that debt. There will be no room for financial freedom because they always tend to be swimming in debt. They also tend to make unnecessary or over-indulgent purchases yet not really afford them. Rich people police their expenditure and can be quite frugal. They might take out debts but they manage it objectively and usually, their borrowing is not for spending but rather for business.

What Is Majored On?

You will see a recurrent trend amongst poor people; their discussions are usually about two things – other people and material things. You can clearly see this on social media and even randomly in public spaces. The rich-poor are usually big on discussions focused on ideas to expand their enterprises. No wonder people are usually encouraged to mind who they spend their time with.

Attitude Towards Circumstances

Poor people love to scapegoat, blaming every other thing or person other than themselves. They somewhat derive comfort from the belief that the economy is bad and there are no opportunities. They justify their condition on the contrary circumstances that surround them. Rich people take advantage of those same circumstances to generate income. After all, entrepreneurship is all about addressing common problems with monetizable solutions.

How Can I Be Successful?

The poor person can actually relegate themselves to the finality that they can never be rich or successful. They do not see the possibilities because all they see are the hurdles. They somehow wait on some big break that they think might happen one day. They do not believe they can steer their own boat to success; they think it can only be through someone else. For instance, someone can solely focus on betting as the means through which they will somehow make it. They avoid risk and never take bold initiatives. Rich people live on taking risks, expanding their incomes streams, making investments, and so on.

In closing, I want to stress the importance of the words you say daily. So many people overlook this but it is the missing link in most people’s lives. There is not only spiritual but also scientific proof that the words we say shape our reality. Your life will always take the shape of the words you utter daily. Poor people speak poverty whereas rich people speak abundance and wealth.