These Things Rich People will Do But The Poor Won’t.

 In this article, we’re exploring things that the rich do, and the poor don’t. Which separates the rich from the poor? Is it money, material possessions? Well, technically, yes. But money, and more specifically, wealth, is the result of certain behaviors and habits over an entire lifetime. Hardly anyone gets rich by accident and those that do often squander it all through poor choices. The rich get rich and stay rich by adopting a mindset in a series of disciplines that ensures that their wealth only grows over the years.

So, what are these behaviors that keep the rich rich and the poor one step behind?

1. Rich People Never Stop Learning.

Rich people are always on the lookout to level up their skills, education, or knowledge in specific areas. A poor person will inevitably settle after completing the bare minimum education if they don’t drop out altogether. That’s not to say school dropouts can’t be the next Elon Musk. Quite the contrary. Formal education isn’t for everyone. But if you’re always seeking knowledge and experience, you’re bound to excel. Take two people, one named Mitch and the other called David. Both have similar IQs live in the same location, and have the same level of education. After work, Mitch goes home, sits on the couch, orders pizza delivery, and binge-watches, Netflix before passing out.

On the other hand, David goes home to study course material for an online degree he recently enrolled in. He’s hoping to boost his qualifications and eligibility for future promotions within his company. While David is increasing his level of knowledge and his potential salary at the same time, Mitch is more concerned with “who the bachelor is going to give a rose to? “. Who do you think will be more financially secure in 10 years? The richest people on the planet swear by the power of knowledge and education. And it’s pretty obvious why.

2. The Rich pay themselves First, The Poor pay themselves Last.

It sounds counterintuitive, but rich people pay themselves first by allocating a lump sum out of each pay towards their savings, which will go towards future investments and assets. Then they pay their bills, making sacrifices as needed. Perhaps they don’t buy takeout coffees while at work. They bring their lunch, walk instead of paying a bus or train fare, and generally live modestly. It isn’t fancy, but these sacrifices could help you work towards financial security and freedom. It’s all part of resisting self-indulgence. Self-indulgence is deceptive because it’s disguised as normal and socially acceptable behaviors, such as eating delicious junk food, spending copious amounts of time on the couch, hence sleeping in. If you find yourself eating badly out of laziness, or for that OMG yum moment, I hate to say it, but a poor diet is not only detrimental to your waistline, but diet plays a tremendous role in a person’s mental health and well being. Poor people eat poor, and a poor diet leads to low moods, brain fog, lack of energy, and then ultimately, you’re not motivated, can’t focus, and instead will opt to take the easiest options in life. Because anything else is too difficult, and you just don’t have the energy for it. Nothing is easier than to keep living like you are.

3. The Rich have a Growth Mindset, and The Poor have a Fixed Mindset.

A growth mindset believes that one’s basic abilities can be improved through hard work and dedication. On the other hand, a fixed mindset means that someone believes that their basic skills can’t be improved. Rich people are constantly striving to improve their basic abilities so that they are useful in several different scenarios. Take Mitch and David again. They both want the new iPhone, but they can’t afford it on their current salary. Mitch decides he will save a little bit of money each week from his paycheck until he has enough money. However, David decides he will use his newly acquired skills to start a successful side hustle. He’s able to buy the iPhone much quicker than Mitch without sacrificing any of life’s luxuries or the time Mitch has saved up enough, the next model is out, and it’s twice the price. The difference between Mitch and David is that Mitch has a fixed mindset. He doesn’t consider that he could earn extra money to purchase the new iPhone quickly. David has a growth mindset. He realizes his knowledge can be used to earn extra money while still maintaining his lifestyle. Rich people leverage their skills and talents to boost their earning potential.

4. The Rich Delay Gratification, whereas the Poor seek Short-Term pleasure.

A poor mindset involves seeking that addictive dopamine rush of a new purchase or buying the latest and greatest of something, especially if it’s outside what you can realistically afford. It’s buying the latest kicks on credit or shouting another round of drinks when you know rent is due later this week. Gambling is also popular amongst poor people, especially considering that they believe being wealthy is pure luck rather than doing the hard yards to create their wealth. They live in misguided hopes that they could win the lottery and all their problems would be solved one day. These short-sighted financial decisions will only lead to the accumulation of debt, not wealth. Rich people, on the other hand, delay gratification. They have a goal in mind, a budget, and they stick to it. They deny themselves the pleasures of today saving their money and choosing to wisely invest in things that will ultimately generate wealth for their future. Buying material possessions that depreciate robs poor people of their hard-earned cash.

5. Rich people know the value of Time.

Poor people don’t understand the value of time. Poor people live in the past and the future. They like to reminisce on the good old days or daydream about a different future. Fantasizing about being happy one day, but they don’t understand that today is the future. Right now is all we will ever have, and today’s choices create your future. Poor people choose to waste their valuable time to escape today. You know the present, the now, and the thing you can use to build the future you want. Escapism takes many forms, but they are all unproductive time-wasters such as watching hours upon hours of TV, gaming, social media, and various forms of entertainment. Escapism affords the poor contentment in their situation, which inevitably keeps them poor. Rich people have a thirst for knowledge rather than entertainment. They understand the importance of today and instead choose to spend their time learning and improving themselves.

6. The Rich build several Streams of Income.

Poor people don’t often realize that there are different ways of earning money all at once. They find happiness and their nine to five salaries and don’t recognize they could build their wealth without giving up much time. Rich people, however, understand they can build their wealth through several streams of income. Mitch and David, for example, both work the same nine to five job, but David has been putting a little each month away into shares and property investments. Although he might have less money in savings, David has assets that regularly earn him money, even if he loses his day job. On the other hand, Mitch is solely dependent on his nine to five job paycheck and has enough savings to get him through about six months if he was to lose his job. Poor people work for money, while rich people get their money to work for them.

That’s all we have time for today. What are some other tell-tale behaviors of the rich and wealthy? Let us know in the comments.