Some Habits That Separate The Wealthy From The poor


Category: Finance

” We are what we repeatedly do. Excellence is not an act, but a habit.” — Aristotle

Who are the wealthy?

Conventionally, wealthy people are associated with money, assets, and a higher quality of life. These assets include and are not limited to real estate, bonds, and stocks.

Wealthy people do not necessarily need to appear wealthy.

Who are the poor?

Poor people are those who live beyond their means. At best, they do not have money and no assets. 

Real poverty however is having a negative net worth because of accumulated toxic debt – credit cards, payday loans, etc.

Poor people are associated with low levels of money and a lower quality of life. They tend to have significantly fewer or sometimes zero assets and are in debt.

“You have two choices: you can either make a living or you can design a life.” – Jim Rohn

It’s mind-blowing that the 26 wealthiest billionaires’ own assets are equal to those of the 3.8 billion poorest people of our world’s population.

When you start studying this topic, you realize that wealthy people have some habits in common that helped them to become so financially successful.

We have to separate between the permanently wealthy and the temporarily rich. 

Many people are rich for a short time, or even for 20–30 years, such as:

  • Lottery winners
  • Numerous business people
  • Sports and entertainment stars
  • Inherited wealth

However, numerous people lose their wealth. It is estimated 70% of lottery winners do, and it was the norm for footballers to lose their wealth in retirement, before recent times when professionalization (agents, advisors, consultants, etc.) helped them plan their finances after retirement.

Moreover, statistically speaking, most families go bust, and indeed businesses. It isn’t just the stereotypically `playboys` of the second and third-generation wealthy who go bust, most families don’t retain great wealth, for one reason or another.

So, the habits that separate the few people who stay wealthy are:

1. Entertainment vs. Education

Wealthy people spend the majority of their free time learning and educating themselves. I’m not saying wealthy people don’t watch movies, play video games or hang with friends…but they only do that 20% of the time. The other 80% goes to education.

Poor people spend the majority of their free time on entertainment. There’s a quote by Robin Sharma that goes “An addiction to distraction is the end of your creative production.” Stop consuming so much and start living your best life.

Reading is an activity shown to engage the brain on an intellectual level. It stimulates the brain, something that’s missing in many people’s hobbies or interests outside of work.

Poor people are far less likely to read on a daily basis. Also telling is the choice of reading material. Wealthy people tend to read far more for self-improvement and educational materials while poor people read mostly for entertainment.

When reading newspapers, the wealthy tend to focus on the editorial and business sections, while the poor may spend more time on the gossip sections.

Did you know that top CEOs in the world, including the wealthy, spend most of their time reading self-improvement books?

Did you know that top CEOs in the world, including the wealthy, read about 50 books a year?

By contrast, did you know that the average person spends up to 95% of their spare time either watching movies, watching TV, or surfing the net?

In comparison, the average person reads only a measly 1.5 books a year.

a. They read after university

b. Go to seminars

c. Listen to podcasts

d. They treat ideas as a numbers game – 99 bad ideas executed isn’t bad if 1 is a winner

e. Most poorer people are afraid of change

The wealthy do not cease learning.


The biggest compounded return does not come from bonds, stocks, or even real estate. It comes from education. Most millionaires were not born millionaires, they learned how to build wealth. The more they learn, the more they understand the world. The easier it is to connect the dots, the more money they make.

The wealthy recognize they do not know everything. The wealthy are not afraid to seek advice. They recognize something can be learned from everyone.


Poor people do not enjoy learning.

They care about instant gratification. They care about image, and what people think of them. Hence, they do not know what they don’t know, they dislike hearing opposing perspectives, and quickly feel insecure when challenged.

Being wealthy is but a dream for the poor. As they do not have the intellectual curiosity to learn, they choose to believe the wealthy are either born wealthy, evil, or exploit the poor. They do not recognize that they are mostly poor because of their lifestyle choices.

“Wealthy people have small TVs and big libraries and poor people have small libraries and big TVs.” —Zig Ziglar

Wealthy people read a lot.

Bill Gates says he reads 50 books a year and it gives him a huge advantage. And he is not alone among wealthy people who think that reading is “the way.” We’re not talking about books that are just for fun, but also those that include information about self-development. They should educate you and give you new ideas.

The wealthy spend their spare time educating themselves while the poor waste their time on social media or watching TV.

The wealthy learn new skills to increase their market value whereas the poor get stuck.

2. The Wealthy Invest in Themselves

Wealthy people don’t just stop learning after their formal education. To them, learning is a lifelong endeavor.

They are constantly adding to their knowledge and applying it to their careers and investments.

Poor people are less likely to take advantage of valuable time to self-educate and improve their prospects for the future.

Whether wealthy or poor: you might as well be yourself, because everyone else is already taken.

3. HEALTH: The Wealthy Understand That What You Eat Affects Your Productivity

Eating healthy has been shown to have a large positive effect on performance at work or school and can dramatically increase energy levels.

How the food is made is important as well, for example, using food steamers helps lock in nutrients and retain natural vitamins and minerals in the food.

With higher energy levels, it is no wonder why wealthy people are able to be so productive with their time.

Eating Healthy and Staying in Shape

The poor don’t take care of their health regime seriously.

There are many reasons poor people don’t watch what they eat, but the most significant could very well be little motivation for longer life, and therefore less desirable to earn more.

On the other hand, wealthy and successful people take their health status seriously just as they take their financial status seriously. This is because they understand that the more your health deteriorates, the more the medical bills.

According to research to find habits of wealthy people vs. poor people done by top financial guru, Thomas Corley, 70% of wealthy people eat less than 300 junk-food calories each day, while 97% of poor people eat more than 300 junk-food calories per day.

According to another research, 76% of wealthy people exercise at least 4 days a week, while only 23% of poor people do.

High Energy vs. Low Energy

Wealthy people have high energy. That’s why most wealthy people make their health a priority because diseases are expensive and being sick increases your chances of having less time on this earth to live your greatest life.

Poor people have low energy. This low energy prevents them from having the stamina and motivation to begin working towards bettering their situation. The more energy you have, the more you’ll want to get done and accomplish.

Wealthy people make taking care of their smiles a daily habit.

A smile is one of the first things that we notice in a person. It can spoil your whole image if you have bad breath and yellow teeth. 62% of wealthy people floss every day compared to only 16% of poor people.

4. The Wealthy Exercise Regularly

Exercise is just as important as eating right. It may seem contradictory to some, but exercising actually boosts energy levels.

That may be difficult to believe after an exhausting workout for the first time in a long time but exercising has been shown to increase energy levels when done on a consistent basis.

Higher energy levels mean more focus and more productivity. The wealthy build exercises into their daily routines easily, for example by having a pull-up bar at home.

By keeping themselves fit, the wealthy are always ready to perform at their peak levels.

5. The Wealthy Set Goals & Do to Lists

Setting goals forces individuals to visualize the required steps to arrive at the desired result. This leads to more efficiency, better direction, and less stress.

Without goals, achievements appear to be far less attainable. The wealthy set goals on a daily basis, whether they be big hairy audacious goals that will take years to achieve, or even just very minor goals that will aid in achieving the larger ones.

Small daily goals let you know that you have achieved something for the day, resulting in a feeling of accomplishment and motivation to set more goals.

Goal Setting vs Wishing

Poor people make a few savings and leave everything to chance. If they invest, they leave everything to “financial advisors” to do everything for them.

By contrast, 70% of the wealthy pursue at least one major goal. Only 3% of those struggling to make ends meet do this.

Wealthy people are astute goal-setters and planners. They don’t just leave anything to chance. They take control of their lives and get involved in everything they put their money into instead of just leaving everything to “financial experts”.

Goal setting – A big one on the list. Wealthy people figure out what they want. They make a structured plan to get what they want and then they go to work to achieve it. Furthermore, they will break it down into long-term and short-term goals. For some reason, poor people either don’t set goals at all or they set and forget. Setting goals is a big deal and you need to make it a habit.

🌟 Have a goal, not a wish.

If you want to be successful, set a goal, don’t just wish. You cannot control the outcome of a dream! By planning and knowing exactly what you want, you take steps toward wealth.



Wealthy people tend to set long-term goals. They see the necessity of long-term goals such as money for future living. The savings of wealthy people are significant.

For example, a wealthy person would not be hit significantly if made redundant during Covid-19 due to savings meant for unexpected times.


Poor people set at best short-term goals, or none. They do not see the necessity of long-term goals such as money for future living. The poor tend to live paycheck to paycheck. When a crisis hits, it is nearly impossible to make ends meet.

For instance, a poor person made redundant during Covid-19 would suffer tremendously from the lack of savings. Life would be made much harder.

The Wealthy fully understand: wealth is a result, not a goal.

The Wealthy Make To-Do Lists

Keeping a to-do list is an organizational tool that allows wealthy people to be more productive. In today’s fast-paced world, it is easy to lose track of all the tasks that need to be done on a day-to-day basis.

To-do lists are a constant reminder of what is next on the agenda.

6. The Wealthy Spend Their Time on Stimulating Activities

Instead of watching TV or playing computer games compulsively, the wealthy spend their free time very carefully.

They make conscious choices and design their days carefully to ensure the optimal use of time. The wealthy are learning machines.

They find time for stimulating activities that allow them to grow, read, learn new skills, pick up new hobbies, explore new places, meet new people, giving back to the community.

Intellectually stimulating hobbies have a positive impact on mental dexterity and productivity and allow the wealthy to improve themselves continuously.

The wealthy surround themselves with other wealthy individuals, whilst the poor hang out with other poor people.

If time is money, the main difference between the wealthy and the poor is how they use their time.

7. The Wealthy Understand the Odds

Perhaps due to different levels of education in regards to gambling, but on average, poor people spend their time gambling far more than their wealthy counterparts.

Gambling is an activity in which the house always wins in the long run. A very small number of people get lucky, but overall, it is a losing proposition.

The wealthy understand the odds and may gamble recreationally, but are not addicted to gambling.

When it comes to the daily habits of the wealthy versus the poor, it certainly appears that wealthy people engage in habits that are more likely to improve their lives.

8. Mindset

The wealthy and the poor have completely different mindsets.

There is a way of thinking that makes you magnetic to wealth and there is a way of thinking that repels wealth, and this, obviously, is the difference between the wealthy and the poor.

“Teaching a poor person how to be wealthy is like teaching a fish how to live on land.”

Growth Mindset vs. Fixed Mindset

Wealthy people have a growth mindset. They believe that they can overcome any obstacle that arises on their path. They also believe that they can have, be and do anything they want as long as they work towards it.

Poor people aren’t always poor because of their mindset. Sometimes they grow up in places with much less opportunity and resources. But if you live in a country with resources and opportunity…and you’re poor…then you have a fixed mindset.

The wealthy possess a growth mindset while the poor do not.

The poor have only a 9-5 work mindset while the wealthy expand their horizon.

10. Beliefs and Philosophies

The wealthy and the poor have a completely different set of beliefs, attitudes, thoughts, and philosophies about wealth and the outlook of life.

These beliefs and philosophies tend to extend into their habits, behaviors, language, and ways of life.

Belief system – A lot of wealthy people obviously make a lot of money. Because nothing is out of reach for their minds, their imagination, their belief of what is possible.

Einstein famously said, Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution” £100,000 per month is very possible.

You don’t need to be a genius to achieve this. The problem is, poor people, suffer from limitations of the mind. I was told at work once by a physio, ‘people like me and you will never own cars like that’. It was only an Audi R8, £70,000. Why the hell not? Why could we not have that? I could buy 10 now if I wanted and that conversation is not even 2.5 years old. Of course, I wouldn’t, I still drive an Audi A6 worth about £8,000. See habit number 1

Myth – Getting up early – I don’t really believe this, I have never been good in the mornings and I am much more creative at night. I often write blog posts late in the evening or do spreadsheets. Just do what suits you and/or your sleep chronotype.

11. Hard Work vs Laziness

Here’s the hard truth — the wealthy sleep less than the poor. The majority of poor people are lazy because they lack the determination to escape the circumstances that make them poor.

Let’s face it. Lazy people despise work and prefer to sleep early and wake up late. They’d rather wait for the apple to fall from the sky than waste their time going for the apple.

By contrast, wealthy people work extremely hard and teach their kids to do the same because they don’t want to gamble with their lives or the lives of their families.

Most wealthy people hate procrastination and prefer to wake up early so that they can start implementing plans towards achieving their goals early.

They’re persistent and don’t give up or surrender to setbacks.

Every self-made millionaire embraces the motto: the only thing separating the dreamer from the dream is a bridge called WORK.

12. Gambling vs Risk

Research shows that, 77% of those who struggle financially play the lottery every week. Lottery companies love it and in fact, encourage the habit by telling them to buy more lottery tickets to increase their luck.

By contrast, wealthy people create their own luck by taking a calculated risk. They rely on numbers instead of luck. Hardly anyone who is wealthy plays the lottery.

Wealthy people do not rely on random good luck for their wealth. They create their own good luck by increasing risk.

Risk Taker

A wealthy person is more likely to take calculated risks. They can afford to take risks because they have diversified assets.

For example, when given an opportunity to invest in a startup, wealthy people are more likely to calculate the risk of this investment. If the estimate is satisfactory, wealthy people see this as a chance to increase their wealth.

Risk Averse

A poor person is more likely to be risk-averse.

For example, when given an opportunity to invest in a startup, poor people are more likely to immediately turn this down. They do not see this as a chance to increase wealth. They see this as a reduction of their disposable income.

Accepting Risk - Overview, Advantages, Disadvantages, and Alternatives

13. Deferred Gratification

Wealthy people sacrifice the present for the future. They start early and actively participate by constantly seeking information to improve their lives and investing in stocks and other long-term ventures instead of spending money on luxury goods and pleasure. They deny themselves the present comfort and pleasure in order to enjoy an early ‘retirement’.

By contrast, the poor want to enjoy life now by consuming every good thing they can lay their hands on with money they don’t have, and sometimes even borrow to finance a lifestyle they can’t sustain, in order to impress people, they don’t know.

Besides, since they have no faith in the future, the experience of life in the present is too tempting to pass up because everybody else is doing it anyway.

The wealthy recognize the power of delaying gratification, whilst the poor seek short-term pleasure.

Immediate Gratification Or Long-Term Gain? | CBMC International

14. Investing vs Consumption

There are two types of people in the world — consumers and suppliers.

The poor have a consumption-oriented mindset. They tend to consume now rather than invest or save now and consume later.

The poor have a consumer-oriented mindset.

By contrast, the wealthy tend to be on the supplier side and prefer to invest the money they would have spent now buying assets. They tend to buy what they wanted from the proceeds of the investment.

The wealthy have an investment or supplier-oriented mindset.

The wealthy cut the cost, but the poor do not track even their budget.
The wealthy live way below their means while the poor live above their means.

The poor elevate their lifestyle once their income increases whereas the wealthy keep the simple lifestyle.

The wealthy utilize the tools around them to monetize but the poor do not.


Essential spending

Wealthy people spend on necessities and what is needed, not what is desired. For example, a wealthy person who has run out of milk will walk into Sainsbury’s to buy a carton of milk, nothing more.

A wealthy person with a perfectly functioning phone would not need to spend money on a new one. The truly wealthy do not care about trends, they care about net worth.

Impulse spending

Poor people spend on both necessities and desires. For instance, a poor person who has run out of milk will most likely walk out of Sainsbury’s with more than just a carton of milk.

A poor person spends beyond their means. They care about the latest trends, not about net worth. The poor care about image.

The wealthy from diverse streams of income whereas the poor rely on one.

Saving vs Investing

Saving and investing are two different terms commonly used interchangeably in financial circles.

The two terms actually mean different things. Saving implies income not spent or deferred consumption. Saving also implies setting aside some money preferably in a bank deposit account, pension fund, or an investment fund, for future use, retirement, or a ‘rainy day’.

The savings are expected to accumulate an interest amount daily and can be withdrawn sometime in the future.

The poor and middle class continuously use the word ‘saving’ in their vocabulary.

Investing means putting money into a financial scheme, stocks, property, or a commercial venture with the expectation of achieving a return on investment (ROI).

Investing is a term commonly used by the wealthy in their vocabulary.

The poor and middle class save money. The wealthy invest money, time, and effort.

The wealthy invest their money whilst the poor do not.

15. Asset Accumulation vs Liabilities

The poor and middle class buy liabilities thinking they’re assets.

For example, a car is a liability because it loses 25% of its value the moment you drive it out of the showroom.

Unless you can generate an income from it, it will continue losing value and after only 5 years it will be worthless.

By contrast, the wealthy accumulate assets. The definition of an asset varies depending on whether you’re getting it from an accountant or an investor. According to investors, an asset is anything that generates residual value.

In this regard, a house can also become a liability if you live in it since the only time, it can generate residual value is when you sell it at a value greater than its accumulated cost.

Residual Value = Sale Price – Initial Cost – Repairs & Maintenance – Taxes – Accumulated Inflation.

Actually, houses sometimes do appreciate in value depending on the market dynamics and valuation, but that’s usually eaten up by the cost of living (inflation).

The most effective way to convert a house into an asset is by renting it out so that it generates a monthly income. Meanwhile, you can find a modest place to live in, ensuring that what you receive from rental income pays your rent. This is called passive income.

The wealthy purchase reasonably-priced items whereas the poor show off by buying branded items they cannot afford.

17. Working for Money vs Money Working for You

The popular mantra is “go to school, get good grades, graduate, get a high-paying job in a large corporation, get a pension book and work your ass off for the rest of your life and retire sometime when you’re in your 60s.”

Those jobs don’t exist anymore. However, society and the school system have not changed it one bit. Students continue to be told to study hard and they’ll get a good job.

Effectively they’re being told to study hard in order to work for money for the rest of their dear lives for someone else. For this reason, most poor people know no otherwise.

On the other hand, wealthy people know better. They let you go to school, get good grades so that they can employ you in their companies. In this regard, A-students work for C-students.

The wealthy understand the law of leverage, so they make money work for them. They buy other people’s talents, skills, and effort while they spend their time doing more profitable ‘things’.

Instead of borrowing money to spend on consumption, expensive weddings, and luxury goods, the wealthy understand that it’s more profitable to borrow money to access more lucrative investments and business contracts.

The wealthy let their money work for them whereas the poor do not.

Wealthy people build the machine to make money whereas the poor do not.

17. Time Management

The poor think they have all the time in the world. They waste time and will hardly arrive at an appointment on time unless their lives depend on it.

The wealthy mindset is very aware that time equals money and will hardly engage in any time-wastage business.

The wealthy are very conscious of the fact that time is the only limited resource in the universe and that everybody has only 24 hours a day within which to operate.

Impact of time -Wealthy people are needle movers. When they spend time doing something it has a big impact. If you’re running a business, for example, you can’t be doing the accounts, the admin, the stationary orders, or answering the phones. Wealthy people focus on things that ‘make the boat go faster. Winning the big contract, developing new products, and networking with high influencers. Poor people are busy, but busy is not making an impact. Busy keeps you busy, not successful.

The wealthy sell value whereas the poor sell time.

The Wealthy understand: if time is money, then saving your money is of a form of saving your time.

“If you don’t find a way to make money while you sleep, you will work until you die.” —Warren Buffet

18. Abundance vs Scarcity

Poor people operate under a scarcity mentality. They prefer to waste more time than money because they think money is scarcer than time.

On the other hand, the wealthy think that there’s an unlimited supply of money, a limited supply of time, and an abundance of everything.

That’s why they work hard in order to generate more money to enhance their lives within the shortest time possible.

19. Gossiping

Research shows that low-income people spend between 79% – 80% either gossiping or doing idle talk.

By contrast, 6% of high-income people admit to gossiping.

You should listen to others for five minutes for every one minute that you speak. Wealthy people are good communicators because they are good listeners. They understand that you can learn and educate yourself only by listening to what other people have to say.

Don’t gossip if you want to be wealthy.

Gossip damages relationships and closes doors to your success. If you have a problem with someone, it’s better to go to that person and talk to them directly. Such an attitude will add some bonuses to your reputation in high society.

20. Solution-Oriented vs Complaining

This is one of the most important habits that distinguish the wealthy from the poor. Poor people are pessimistic and always complain.

Poor people prefer to spend hours on end discussing problems and blaming each other instead of looking for a solution. They’re more comfortable if a scapegoat is found, than if the problem is fixed.

Wealthy people take responsibility as well as rewards and never cry over spilled milk. They solve problems. This is the major reason we see wealthy people coming up with new ideas to solve the world’s problems.

They are always committed to finding the solutions because for them, it’s a matter of if not them, then who will solve the problem.

Excuse mentality – You need to realize that everything is on you. I have lost hundreds of thousands of pounds due to external factors out of my control, I was raised in a family with no money. But it just doesn’t matter. It’s done and it has no impact on future goal setting or your ability to achieve success in the next five years. The reason I don’t have £10million is that I just haven’t done enough yet. But I can make sure that I can do everything to get it in the next 5 years. I don’t have abs anymore, I have a newborn, we have traveled a lot, etc. but none of those are excuses for gaining a few pounds around the waist. The simple reason is, that I haven’t prioritized it, it’s not as important to me as other things right now.

Get honest with yourself and drop the excuses.

Gratitude vs. Complaining

Wealthy people are constantly counting their blessings while feeling excited about where they are going. Wealthy people know that instead of spending their valuable time complaining, they can either do something about it or be grateful for the lesson.

Poor people complain…a lot. Poor people rather complain about their situation than feel grateful for what they’re already blessed with because they’re usually not doing anything to help them improve their current circumstances.

The poor people blame the others for their misfortunes whilst the wealthy find solutions.

21. Lack of complacency

Successful people realize you can’t rely on past successes In business, or any domain, they adapt themselves.

Look at Buffett. In the last 10 years, he hasn’t been the best investor. Peter Lynch beat him a few decades ago. BUT he has gotten 15%-20% for 75 years. That beats 30%-70% over 10 years

Likewise, in business, most people realize that what worked yesterday doesn’t always work today. I have met numerous people who relied on 1980s techniques (cold calling for example) and did very well, but then couldn’t adapt their multi-million businesses to the modern age. Or they just lost motivation

22. Execute your knowledge

We all know fat doctors or lawyers who get into legal issues.

Gaining knowledge is irrelevant if you don’t execute the knowledge.

Same in finance. There have been 1–2 Nobel prize winners in investment portfolio theory who have admitted they haven’t managed their own portfolios right.

Often doing the right thing is uncomfortable for human nature. I will give you just one example. If anybody reads the evidence on finance, they will know they should have more money in equities when young, and less in bonds. However, this is often uncomfortable in practice, because such portfolios are more volatile, and it is natural to assume that volatility = unsafe.

They also execute good spending and investment habits.

They delay their gratification by spending less than they earn.

Meanwhile, the poor don’t do these.

23. Overcome fear of losses and the unknown

Too many people want a free lunch;

they want great wealth without sacrifices or any risks,

they want more returns than the bank without any volatility,

They want great income at a young age, but won’t take commission only or start their only business, as it seems too risky.

Successful people are more likely to see the long-term. They are more likely to take calculated risks and not think `it is better to be safe than sorry. That doesn’t mean being stupid with risks, but being calculated.

Especially in stock markets, they find a way of overcoming fear, greed, excitement, and only parts of human nature.

24. They focus

Focus is a key driver of success

Focusing on goals, and breaking those goals down

25. They learn from the mistakes of others

And their own!

And they learn from other people’s successes

26. Frugality – Poorer people, just have no control over their finances. They don’t set budget goals, in fact, most that I know don’t have budgets at all. They just spend what’s available. They have a feast or famine mindset. They will blow a month’s wages in 3 weeks and have a whole week without being even able to take a trip to Starbucks. Their problem is, they don’t live to their means. Wealthy people (in general) are less wasteful with their money. It’s calculated and they look at value vs price. Is a handbag worth £2,000? Does it give them £2,000 of value? I’d say not. But what about hiring a marketing guy and paying him £1,500 per month. What is the value of that? Very high.

27. Discipline – Financially and emotionally. Because you had a bad day at work doesn’t mean you need to spend £200 on clothes to cheer yourself up. Wealthy people tend to save with more precision and meet their goals on a much more consistent basis. Poor people have no financial discipline. I have friends who have been attempting to save for years and every month they have a different excuse of why they couldn’t save. Wealthy people make it a priority and they stick to the plan. I wrote a really good article based on a conversation I had with a friend to help him save. His problem was he just couldn’t envisage why to save, so he became wasteful. His why, just wasn’t strong enough. I showed him how he could turn £500pm saved into £100,000 in 6 years. He has been saving ever since because he now has a why. Check the infographic below to show what I mean.

28. Resistance and perseverance – Arguably these are not habits as in something you do every day but they are hugely important. Wealthy people don’t give up. Most self-made millionaires didn’t make their millions the first time they set up a business. Some of them made it on their 6th go, their 9th go, heck I’ve ever read about someone who came to a millionaire on his 12th business. Poor people take a loss and struggle to move on. They’re no good, they’re not lucky, or whatever it may be that they tell themselves. But if you keep going, and you take what life hits you with, you will win overall. It’s a bit like your driving test. Some people pass the first time, and some people pass on their 6th time. But does it matter? They both have a license and can now drive anywhere they want now. The old saying is true…’ If at first, you don’t succeed, try and try again

29. You can’t succeed on your own.

Wealthy people build teams! They can’t handle everything by themselves. They’re not the smartest people in the world. If they don’t know something, they give tasks to others who are more knowledgeable on the subject.

It’s not shameful to ask for help from other people.

30. Working from a Schedule vs. Working in Reaction

Wealthy people work from a schedule. Their time is too valuable to let things go untracked and unaccounted for. Wealthy people know that the things that get scheduled are the things that get done.

Poor people are constantly in reactive mode and fail to plan their days. By failing to plan out the day, they’re leaving their decision to old habits and behaviors that are keeping them in a vicious cycle of poverty and lack.

31. Compounded interest works for the wealthy and against the poor

The fundamental difference between the wealthy and the poor is, that the wealthy have understood a very simple principle: money makes money, and the money that money makes, makes money.


Wealthy people are said to make money work for them. Instead of completely relying on income, a wealthy person would take a proportion of their income and invest it.

Compounded interest works in favor of the wealthy. This is because it will eventually turn $1000 into $10,000. Ultimately, a wealthy person can choose not to work and live off revenue generated through investing. However, most of the time the wealthy work because they like what they do, not because they need money.


Poor people are said to work for money. They neither save nor invest it.

A poor person sees $1000 as just $1000. A poor person works paycheck to paycheck for the rest of their life.

Poor people, at best, spend everything they earn by buying stuff from the wealthy, whether they need it or not. They have nothing left at the end of the month. But real poverty is when people spend money they don’t have, accumulating credit card debt. Compounded interest rate plays against the poor as it will eventually turn $1000 debt into $10,000.

32. Don’t say NO!

Even if you’re 100% sure now that something isn’t going to work, just wait. Give it some time. Being tolerant and patient is crucial when it comes to acquiring wealth.

33. Giving & Sharing is the sign of a wealthy mind

Give first! Donations, Charity & Gifts to friends and relatives are not just a sign of a good heart, but also of a wealthy life. Of course, there are greedy people everywhere who just want to consume, but a wealthy person knows that money needs to move and other people need help. It doesn’t mean that you blow all your money — doing everything within reason is crucial.


Of the 30 percent not spent, one-third should go to charity. Charity is the act of giving back to the community and helping those who need assistance. I believe that contributing 10 percent of your after-tax income is a good amount to strive for.

The act of giving should be taught early when the amounts are small. It’s pretty easy to take a dime out of a dollar. But it’s considerably harder to give away a $100,000 out of $1 million. You say, “Oh if I had $1 million, I’d have no trouble giving $100,000.” I’m not so sure. $100,000 is a lot of money. Start early so you’ll develop the habit before the big money comes your way.

34. Wealthy people don’t hope to win the jackpot

It doesn’t mean that they don’t take risks. They absolutely do! But the thing is they count everything in advance and rely on themselves, not on a fortune that isn’t a sure thing.

35. There’s no need to show off.

The really wealthy are normally not the ones who wear the most expensive clothes. They don’t buy flashy cars and the latest bags. Your neighbor could be a billionaire, but you will never know about it.

36. Taking on debt is a habit of the poor

“Debt is a big obstacle for building wealth”. If they need to buy something, they would rather save money for it and pay with cash. Borrowing money from a bank for a vacation or for a car doesn’t seem reasonable because you need to pay interest on the loan. Living beyond one’s means and an inability to count money can’t bring success.

38. Growth Circle vs. Dying Circle

Wealthy people understand the power of networking and surround themselves with people who are at the same level and/or more successful than them. A growth circle is a group of friends and acquaintances who help each other achieve goals.

Poor people are in what I call a dying circle. It’s a group of friends who aren’t interested in changing or growing from their old behaviors even though you’re ready to. These types of circles can literally kill your goals and dreams.

39. Clarity vs. Randomness

Wealthy people understand that they can control most parts of life. By knowing this they’re able to imagine and think about what success looks like for each area & then they go out into the real world to make it happen.

Poor people leave their life up to random circumstances and situations. They blame and play the victim when life isn’t going their way. Instead of adapting to the obstacles life throws at them, they rather pretend they don’t exist and ignore them.

40. Actions Takers vs. Dwellers

Wealthy people are action takers. They know what they want and take action until they reach their goals. They don’t allow the opinions of other people to cloud their judgment for what they want to achieve…they just make it happen.

Poor people are dwellers. They’re constantly dwelling on why things won’t work, why life is so hard, why they can’t be successful, why they will fail, and so on. They allow fear of failure mixed with fear of judgment to stop them from taking action.

41. Money Is a Tool vs. Money Is Root of All Evil

Wealthy people understand that money doesn’t lead to happiness but it is a powerful tool that can help them reach their goals and have more freedom. Wealthy people don’t believe money is evil but rather a value exchange between two people.

Poor people believe money is the root of all evil. That fear of money is what causes them to never have more of it. When you believe money is evil, you never take the necessary steps to make more and it’s easier to miss paid opportunities.

42. Bigger Picture Thinker vs. Smaller Picture Thinker

Wealthy people are bigger picture thinkers. This means that they don’t dwell on small issues or problems. They either do something about it if they can or accept what has happened and decide to move forward because our lives come to an end.

Poor people are smaller picture thinkers. They dwell on their issues and problems for days, weeks, and months not realizing that they won’t get any of that precious time back. They fail to realize that each day is a gift for change and growth.

43. Present/Future-Oriented vs. Past-Oriented

Wealthy people live in the present moment while working towards a successful plan for the future. Wealthy people understand that the past is the past and it can’t be changed but they can learn from it. Those lessons become wisdom.

Poor people are past-oriented & focus most of their attention on things that happened in the past. Since most of their energy is focused there, they don’t allow themselves to imagine a better future because they haven’t accepted their past.

Here are some of the others

44. The wealthy pay themselves first but the poor pay themselves last.

45. The wealthy do not follow the latest fashion trends while the poor avail the newest hot items to look cool.

46. The wealthy see opportunities whilst the poor see obstacles.

47. The wealthy do not flaunt their wealth to prove themselves whilst the poor avail expensive things for status or to appear wealthy.

48. The wealthy face problems whereas the poor avoid them.

49. The wealthy know how to manage their money while the poor just depend on credit cards and loans.

50. The wealthy rely not only on their active income to build wealth but on passive income as well; the poor live paycheck to paycheck.

51. The wealthy have emergency funds but the poor do not.

52. The more money poor people earn, the more they spend, whilst the wealthy do not.

53. The wealthy build their wealth brick by brick but the poor belief in shady get-wealthy-quick schemes.

54. Old Money teaches the Wealthy to act poorly; New Money instructs the Poor to act wealthy. Expensive clothes are a poor man’s attempt to look wealthy! Warren Buffett, on the other hand, wears cheap clothes.

55. The wealthy use most of their money to get wealthier. The poor use most of their money to look wealthier.

Final thoughts

There is definitely a clear distinction between the wealthy and the poor. The question is, would you rather be wealthy or poor? The choice is yours.

Tags: educate habits lifestyle motivational poor rich richvspoor Tips wealth wealth accumulation wealthy wealthyvsrich

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