Updated: Mar 5, 2020
Before we become rich the first step that we have to take is to develop a Rich Mindset as listed below:
The rich focus on earnings. The poor focus on saving. DON'T SAVE BUT INVEST !!!
The rich think about money in non-linear terms, i.e they will do whatever it takes to generate ideas that solve people’s problems. The poor think about money in linear terms, i.e they believe that time is money. In other words, the poor trade their time for money — hence the term “linear”.
The rich think about investing(i.e investment is an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth). The poor think about spending.
The rich lives below their means. The poor live beyond their means.
The rich get rich doing what they love. The poor earn money doing things they don’t like to do.
The rich embrace any form of education that makes them wealthier. The poor embrace advanced degrees. The rich are great fans of self-study through the use of books, audio programs and other educational materials. They will tap any form of education available to make their dreams a reality, and they don’t need a diploma or certificate of completion to validate their investment. So, while the poor tend to limit themselves to formal education, the rich is open to anything that moves them closer to their goals.
The rich build employment opportunities while the poor wait for employment opportunities. While the poor are waiting for someone else to rescue them, the rich have already started building and planning for their nest. The rich know that there’s no white knight to come save them!
The rich believe money is a tool that can be used to help others such as for employment, it depends on how money is used. The masses believe money changes people into bad people or villains.
The rich take calculated risks (i.e they know the chance of success is higher than the chances of failing, as the appropriate amount of research has been carried out). The masses play it safe with money.