Do you think and act like a Rich person or a Poor person?

by Phil Laut
Author of

Author of Money Is My Friend
and Wealth without a Job

RICH PEOPLE

Poor people want to be debt free.

Rich people are aware that judicious use of credit and borrowing can increase both wealth and income.

2.

Poor people sell their time for money in work they only tolerate. Deep down, and perhaps intuitively, they know they have made a poor bargain. They watch the clock and have a Thank Goodness It’s Friday (TGIF) attitude about their work. Their thinking about work is dominated by thoughts that begin with "I have to" and "I need to".

Rich people do work they love and use their creativity to design ways to serve others with it. Their love for their work means they have won the game even before earning any money.

3.

Poor people compulsively avoid risk and fear change. By doing so they take the biggest risk of all--doing nothing.

Rich people take prudent risks. They know that risk is part of any successful business. They investigate to make sure the risks they take are prudent and have confidence in their ability to deal with the inevitable obstacles that arise.

Poor people, dominated by their need for security and to avoid risk, seek a job to provide 100% of income and thus significantly increase risk by putting all their eggs in one basket.

Rich people create businesses of their own, thereby developing multiple streams of income, knowing that diversification reduces risk.

5.

Poor people use 100% (or more) of their income for unfulfilling consumption, creating an attitude of "why bother" related to greater income.

Rich people (at least permanently rich ones) live within their means and use their money to express their purpose in life rather than to impress anyone.

6.

Poor people seek to lay blame and fault for their financial problems on outside circumstances such as the economy, their boss, the Government, society’s unfairness, cultural bias or their own lack of education.

Rich people (at least permanently rich ones) accept responsibility for their results, rather than give their power away by blaming circumstances they do not control.

7.

Poor people have no plan or purpose related to acquiring wealth. They prefer to go with the flow and wonder why they end up down the drain.

Rich people are aware of the power of intention and consistently take conscious steps toward specific goals and adjust their plans as required.

8.

Poor people allow unconsciously chosen thinking and behavior patterns from childhood to govern their earning, spending, saving and investing (and lack thereof). They complain about the results of their own thinking and behavior.

Rich people seek methods to develop and improve their thinking and behavior to maximize their own satisfaction and wealth, as well as the satisfaction and wealth of those around them.

9.

Poor people usually have poor friends whom they worry will be upset if they become rich. In our experience, some of your friends may become hostile when you become rich. But you may be surprised which ones.

Rich people would rather earn money than approval and know that staying poor is a very expensive and very ineffective way to gain approval.

So, how are you doing in these 9 key areas?

The skills required to become a wealthy business owner are not taught in school. School teaches us to be a successful employee who receives 100% of income from one source, runs the risk of losing it without warning due to layoffs, mergers, downsizing and offshore outsourcing. Starting and succeeding in a business of your choice is far easier and offers far more freedom and security than you may think.

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