Are you poor? Do you want to be rich? If you are poor want to be rich it is paramount to learn the cause of your poverty and plan for your success and richness.
Just like Myles Monroe said failure to plan for your profit is planning for your loss. Plan the change you want to see in your life; plan for your richness and wealth.
By studying the habits of the rich and poor you are empowered to make lifestyle decisions and adopt good habits which will make you rich.
Learning from your mistakes is wise but learning from other people’s mistakes is even wiser. Learn 10 things poor people do that rich people don’t and make informed choices of planning your way out of debt and poverty!
But what if a family’s income increases? The percent of watching more than 5 hours a day decreases dropping to as low as 1.1% for people making over 150,000$ a year.
Well, there are a lot of reasons but many have to do with the purpose of watching TV and the kind of shows that people are choosing to watch because not all television shows are bad for you.
In fact, there are a number of educational and inspiring shows out there but fewer people, especially in low-income families, use the TV as a way to learn instead of a time-waster or form of escapism.
So, if you do like to watch an episode or two of your favourite show at night you definitely don’t have to stop cold turkey. But you also should make sure that you are not just wasting hours and hours every day.
By simply adjusting the shows you watch and the amount of time you spend watching them you can help promote a successful mindset and reduce the negative side effects of TV over-consumption like sluggishness, low self-esteem and lack of motivation.
Also read: 3 Shocking Habits of BILLIONAIRES
Have you ever heard somebody say that being rich is a mindset? One of the most important parts of this wealthy mindset is how you tackle problems.
Imagine you go to the grocery store and want to buy bread and eggs but you can only afford to buy one.
If you were using the “either/or” mindset you have to choose which one to leave behind because your goal is not to spend more money than you have.
Makes sense, right? Believe it or not, most rich people would handle this problem quite a bit differently because they aren’t satisfied with picking one or the other; they want both.
So, instead of limiting their profits by maintaining their budget, they use a “both” mindset and expand their budget to maintain their profits.
This kind of innovative problem solving is what allows rich people to navigate difficult obstacles on their road to success because they don’t let what they have limit what they can do.
The vast majority of workers in the world today are paid by the hour meaning they receive the same payment for every hour of every day no matter how good or bad of a job they are doing.
While these types of jobs are much more stable and reliable; they often stifle your success because money is no longer motivating you to go the extra mile.
It’s no coincidence that most of the highest-earning jobs, don’t pay by the hour but instead pay according to performance. That way if you are not at the top of your game; you are going to lose money!
This type of job rewards people who work longer, harder and smarter than everybody else continuously pushing you to learn and grow as an individual.
Performance-based jobs allow you more control over your own success instead of waiting years for that promotion you’ve been asking for. Click To Tweet
Also read: 10 legit ways to make money online
Everyone fails at some point of his or her life; whether it is at work, at school or at home.Failure is unavoidable no matter how much money you make or what kind of car you drive. But there is a dramatic difference in the way rich and poor people understand and handle those failures. Click To Tweet
Many poor people make a habit of blaming other people when something doesn’t go their way. If they didn’t get that raise at work, it’s because their boss is an idiot or the system is biased.
While this is certainly sometimes the case, this mindset makes it totally impossible to learn from your failures because you are constantly reassuring yourself that you did nothing wrong.
Successful people, on the other hand, have no problem admitting when they have made a mistake because they know that learning from these mistakes will allow them to succeed next time.
I am not saying that rich people like to fail because no one actually enjoys failing but nearly every billionaire had to fail hundreds of times before they got to where they are today.
So, next time you find yourself angry and disappointed, instead of yelling at who else could be responsible, for your failure, take a minute to reflect on what you could have done wrong then you will know exactly how to better yourself in the future.
Also read: 10 Common Habits Of All Highly Successful People
To be successful in just about any field you need to first grasp how little you know. Once they have graduated high school or earned their degree; less successful people tend to think that they know everything.
Most won’t pick up another book or do any research because they are convinced that they are done growing. But don’t make the mistake of believing that you’ve learned everything that you need to because you haven’t.
The most successful people realize this and use it to their advantage. Even when they are at the top of their field, they explore new topics and discover innovative ways to solve problems.To be successful you shouldn’t think about school as where you do all of your learning but instead as preparation for a lifetime of intellectual growth. Click To Tweet
Also read: 8 Principles To Live By For Success and Happiness
When you go to the grocery store and decide what food to buy, what is the first thing you think about? If you are like the majority of people out there you are probably focused on buying as much food as possible for as little money as possible.
We think like this to preserve the amount of money we have because we have made saving money a priority.
Rich people, however, are much less concerned with saving a penny here or a dollar there because the amount they would save is so little in comparison to their income.
For poor people, every dollar counts because they don’t have the excess money to risk on an investment but rich people do; which is why they can essentially lose money to make money.
By doing this they end up making way more than shopping the sales at a grocery store ever would.
No matter what your goals are in life, there is one thing that is absolutely essential on your path to success- physical health.
Now, I am not saying that you have to eat only the freshest ingredients or cut all carbs out of your diet but it’s crucial that you keep your body and mind healthy by eating the right kinds of food.
On average lower-income families eat significantly worse than their wealthier counterparts consuming more fried foods, fewer vegetables and more unhealthy fats paired with little to no exercise.
This kind of diet can lead to a number of mentally and physically damaging effects like obesity, stress, and poor sleep quality.
Affluent people, on the other hand, tend to have much better diets eating significantly more whole grains, fruits and vegetables. This healthier diet acts as an important foundation for success by supplying the energy you need to think clearly and perform.
Unfortunately, for many low-income families, it’s not that easy to suddenly switch to expensive organic options when fast food is cheaper and more readily available.
There are still some cheap healthy options, out there so even if you are short on cash, you should aim for the healthier alternative whenever possible.
In addition to eating unhealthier foods, the majority of poor people exercise far less than the average rich person. It’s no secret that exercise is a critical part of most successful people routines but the majority of poor people opt out of a morning jog or a trip to the gym.
In fact, a number of studies have looked into this disparity and found that wealthier people are at least 50% more likely to work out a few times a week.
Well, much like the limitations of healthy eating, exercise has its own roadblocks for low-income individuals such as unsafe neighborhoods, expensive gym memberships, and a lack of free time to commit to exercise.
But even if these things are standing in your way, it’s important to find some way to work physical activity into your routine. Even if you have to get a little creative, to make it happen.
Also read: 17 Benefits of exercise on the brain and body
On top of that, the same study found that people, who really love their jobs, accumulated significantly more money than other rich people who only liked their jobs.
While some of their enjoyment probably stems from the luxuries of a bigger paycheck, most rich people got where they are by working on something or at a company that they genuinely liked.
So, if you are planning on doing a job you hate, just to get a better salary, you might what to reconsider.
This is another key component to the rich mindset which many poor people have trouble putting into practice.Instead of focusing on living comfortably today most wealthy people prioritize their future making sure to set themselves up for success later in life. Click To Tweet
This is a big reason why so many wealthy people don’t mind working 70 hour weeks because they are treating their present like an investment which will grow more and more profitable over time.