MODULE 4: Money, Lesson 13
Difference between a rich and a poor mind
Adnan Ul Haq
Difference between a rich and a poor mind
Adnan Ul Haq
Have you ever come across certain people who are always thankful for what they have? They are grateful for all the blessings like the food they eat or the money they earn. These people represent a positive mindset.
On the other hand, you would have also encountered people who are complaining all the time. No matter how much they have, they are always complaining about things. You will find them complaining about not having enough money or not being able to generate money. These are the people with a scarcity mindset.
These are the groups of people with two different types of mindsets. One group of people is of the people who claim to have enough money and are willing to generate more always, while the other group is of the people according to whom there is never enough money or ways to generate money.
Comparison Between Positive Mindset and Scarcity Mindset
People with a positive mindset pave their way towards success while those with a scarcity mindset are always left behind complaining about what they couldn’t achieve. This is the basic difference between people with a positive mindset and people with a scarcity mindset.
For instance, positive-minded people will arrange money from somewhere or the other to start a business. They optimistically hope that once they start a business they will get customers and their business will excel ultimately.
Do you know what this implies?
An optimist will ultimately get what he wants to achieve in life because he doesn’t let go of the opportunities that he gets.
Now let’s discuss people with a scarcity mindset.
A negative-minded person will keep on focusing on the shortcomings or downturns of every opportunity that they get. They are pessimists thus they will keep making excuses and will never avail of an opportunity that they encounter.
For instance, if these people were given an opportunity to start a business they will find every excuse not to. Like not having enough money, not having the right customers, etc.
Inflation Works in the Favor of Rich, Not of the Poor!
Optimists invest smartly and become rich. This is because they invest in God’s money or accumulate real assets. These include gold, silver, property, etc. On the other hand, pessimists keep saving money and become poorer.
Thinking why and how?
The chief driver behind the rich getting richer and the poor getting poorer is inflation.
During inflation, the value of god’s money keeps increasing. Thus those who have bought real assets keep becoming richer. Contrastingly, when inflation hits, the value of man’s money depreciates, so the poor person who saved that money loses his wealth and becomes poorer.
We do not mean to undermine or mock poor people in any way, but the principles of our economy are so that inflation works in the favor of the rich. Thus, it is always recommended to invest your money into real assets rather than saving it in the banks.
Compounding money works in the favor of rich people and is harmful to the poor. As the rich keep investing in God’s money they keep generating more and more wealth while the poor person will face more and more loss due to inflation.
So basically, a positive-minded person makes use of the right opportunities and invests money at the right place and the right time. Thus they become rich with time. The negative-minded people keep complaining and saving money, are never up for investments, thus, in turn, getting poorer with time.
Having a problematic mindset is going to take you nowhere in life or your career!
When you are an optimist you will find solutions to all the hurdles that come across. You will find customers, jobs, money, investment opportunities, etc., and will make the most out of it despite facing hindrances.
However, if you are a pessimist, you will give on the very first issue that you face and will never be able to work out things in your favor.
Rich Person’s Money Works For Them While a Poor Works For the Money!
A rich man’s money works for them while a poor man work’s to earn money, similar to how the soldiers fight to win a war for the king.
The reason why the poor are left working to earn money always is that they mismanage their finances. It’s not that they don’t have money, but they don’t manage it wisely. Whether they earn more or less, they are not able to save money or invest it appropriately.
Moreover, if they have a good job and get a handsome salary, they waste their money on luxurious expenditures that are unnecessary. Thus, they always have to work to generate money for their expenditures.
The rich adopt creative ways of spending money while the poor belief in impulsive spending. For instance, rich people would buy a property of PKR 1 crore after inspecting its prospects. In contrast, a poor person will prefer buying a less expensive property of PKR 50 lac only because it costs less even if the property doesn’t pose bright chances of price appreciation.
The value of the property worth PKR 50 lac will not increase because it lacks those features while the value of the property worth PKR 1 crore will double or triple or might even keep on increasing. So who wins?
The person with an optimistic mindset who spent more money initially will be able to earn more as well. On the other hand, an optimist who was scared to spend money will not gain anything and his money will also get stuck.
So, you should adopt creative ways of spending money rather than indulging in impulsive buying.
Instant Gratitude is Not Wise!
Furthermore, instant gratitude is the habit of poor people with a pessimistic approach. These people become happy as soon as they receive the first profit, becoming reluctant to struggle till the end.
Compared to the other group of people who work hard to finish the journey because they are able to look at the bigger picture because of their optimism. They always keep looking for more. You have to fight until the last ball to achieve victory and long-term success.
To sum it up, success is imperative to a change in the mindset. You need to be optimistic and avail your opportunities wisely to become rich. Stop complaining and looking at the downsides of everything, instead make the most out of the opportunities that you encounter.