Wealth Vs. Poverty Series: Part 1: Hope
Which Mindset Are You?
A primary part of achieving success in life is the mindset that you have as an individual. What you think often determines how you act and your plan to action. Growing up surrounded by a poverty mindset and then surrounding myself with a wealth mindset later allowed me to see both perspectives. I took the sample approach and I sampled a bit from one menu and a lot from another menu. I came to the conclusion that I like one menu drastically more than the other menu and that menu is the life of financial freedom and opportunity. There is a battle of mindsets at play here and they lead to different results. One such mindset is the mindset of “hope”. Focus less on hoping and more on doing.
The goal of this series is to outline major factors of both for you so you can decide which path you choose to take . I hope it’s the path that leads to lots of money, otherwise why are you here? Financial self development is as important as anything else. Getting off of your butt and dropping the financial junk food you were fed your entire life is the start on how to get there. It’s tough love but it’s for the best.
Mindset 1: Hope.
Poverty Mindset: Little hope. Faith placed in others besides oneself.
Wealth Mindset: Very optimistic and takes control of their own life while believing in their own abilities.
Part of the path of change is believing you can even do it in the first place. If you have little hope in your own circumstance and no belief in your ability you’re not going to bother making the steps to improve your own life. This would seem obvious but it’s one of the most fundamental differences between someone with a wealth mindset and a poverty mindset.
Growing up in poverty I would see this around me. People who had no future goals and ambition in their own lives. They didn’t plan or care for the future. It was all about living today at the expense of the future. Having kids at a young age with no additional forethought, no saving, and no planning is the center of this lifestyle. I in fact have several family members who have done just this. You can bet I avoided that track as hard as I could. Learn the traits of effective people and emulate them.
If It Won’t Get Any Better, Why Bother?
You might wonder why people who live and grow up in poverty make these decisions. It’s simple. They don’t believe life can get any better and improve for them and that their life is the best it will ever be. So they give up on themselves and allow life to just “happen” to them. Life essentially washes over them like a tidal wave and they’re the sand laying still. Often they’ll say things like, “My sister got pregnant at 16, so I’ll do it too. It’s what everyone does.”
In fact when I talk to many family members they often insist that their circumstances and things like having lots of kids “just happened”. Isn’t it odd how some people have more of these mistakes than other people? Some people can plan for the future while others just have life “happen” to them with mistake after mistake. It’s not their life, it’s their actions that led to that outcome.
You bet your ass I strove to avoid that fate the best I could, and I did so in fact. A bad mindset with a bad environment are two major factors when it comes to a life of poverty.
I Can’t Do It. Someone Else Should.
People who are in this situation also put no faith in their own abilities. They often “hope” that somehow life will get better on it’s own or that the government or God will solve their problems without taking proper action. They place their life in the odds of high stakes gamble and treat success in life as a lucky windfall instead of a process and developing the habits that lead to success. The mindset of the poor is that it just happens to “lucky” people and it’s the job of other entities to spread the wealth around. This is part of the reason we’re in the mess we’re in when it comes to our countries affairs. People don’t plan and then spend and expect others to pick up the tab.
Wealth Mindset: Life Is What I Make It.
As I got older and advanced in life and ran my first business I started to see more and more of the wealth mindset and there is a stark difference. I found these people to be more positive, more motivated, and most importantly, they were more accountable for their actions. If you think nothing is your fault then you put no control in your own life. If you have no control in your own life, how can your life improve? How can your life get any better if you put none of it into your own hands?
These wealthy tend to see life as a challenge and something they can overcome. They look at life as a self development exercise, where they try to make the most out of themselves. (This is also what I’m trying to get you to do here). If you see life as nothing but random chance and no hope you’re more likely to take reckless chances and engage in reckless risks.
Life Is About Development And Growth, Otherwise You Stagnate.
The wealth mindset is about constant growth and self innovation. After all nobody is perfect, (except for me, no I kid). Those who have the wealth mindset treat life as a constant journey where they do new things. They are often engaged in a new activity, hobby, business, networking, socializing, or doing something. They aren’t just sitting around hoping for their circumstance to improve or working the same job for decades. The world changes and they want to be at the forefront of it. The ones who innovate first end up with the largest riches.
They realize to be the best you want to be at something, you need to develop habits. The ladder looks like this:
Dreams are what you truly want at the base of your heart. You have a dream to travel the world, or to become rich, or to lose a lot of weight. Your goals are the things you set to push you in that direction, like large steps. If you want to be thin and lose 80 pounds, your goal may be 10 pounds per month. The habits are the crucial part because they are the basic and small steps that accumulate over time. Your habits should be cooking and eating healthier ( and making a list of what to eat), and an exercise plan that details what you’re going to do.
Create Habits And Stick To Them
Next, you must stick to these habits to see them develop you. The goal is to do something without having to “think” about it. You want it to become second nature. For me cooking and exercising are two things that I do daily without having to “think” about it. Waking up early is another one. I wake up at 12:00-2:00 am with no alarm clock because I’m in the habit of waking up early to start a fresh day. The more I complete the more I can take off of my checklist which frees me for the rest of the day to do what I want. I prefer this to being swamped during the day and then I can’t get anything done.
These are the beginning and a focal point of the difference between a poverty mindset and a wealthy one. Remember it doesn’t matter whether you have a high income or not. A poverty mindset will find a way to go back to poverty. Look at lottery winners and how many of them go broke quickly. Their mind simply wasn’t able to hand the money. If you can’t handle a little you can’t handle a lot.
The attitude you need towards a wealth mindset is self responsibility and persistence.
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