5 ways your mindset may be keeping you poor

Do you have a rich mindset or a poor mindset?

What are your beliefs about money?  

Equally important, what are your beliefs about yourself?  

Do you believe that you provide value and quality work?  

Do you feel confident in your ability and talent?  

Do you believe that you deserve a rich life?  Anyone one of these issues can be a stepping stone or a roadblock to becoming rich.

Avenues to Becoming Rich

There are probably two ways to becoming rich.  One is to save your way into wealth.  This means living a careful, frugal life and regularly saving for retirement.  Many people who are not risk takers opt for this method.

The other way to become rich is to earn your way. Most of the people who fall into this category have their own business.  In fact, 74% of all millionaires in the United States are entrepreneurs.

Developing a Rich Mindset vs. a Poor Mindset

So how does your mindset impact your earning capacity?  Here are a few ways:

  • Rich people don’t have a mental ceiling on how much money they believe they can earn.  Poor people not only have an income ceiling, a larger amount seems impossible.   You will never earn more money than you think you deserve.  This is one reason that most lottery winners are broke within a year or two. They don’t see themselves as rich people.  They see themselves as lucky people and they soon create circumstances that take them back to their previous economic state.
  • Rich people see opportunities all around to  increase income and provide service and value to others.  They think and live from a position of abundance.  What our brain believes to be true, it looks for evidence of in the world around us.  Poor people live from a mindset of scarcity. They fail to see opportunities and consequently, they fail to take advantage of them.
  • Rich people take responsibility for their circumstances.  They see themselves as creating the life that they want to live.  Poor people assign blame for their circumstances.  They may blame their upbringing, the environment they live in, the economy or the government. The list is endless. Whenever, you are tempted to say, “I can’t because… ” remember the many examples of wealthy people today who lived a poor disadvantaged childhood yet overcame their circumstances to create a better life. They weren’t “lucky”, they were intentional and determined.
  • Rich people are investors in themselves. They are avid learners and don’t mind spending money to improve themselves and increase their knowledge.  People with a poor mindset spend money on buying things for themselves while people with a wealthy mindset spend money on improving themselves.
  • Rich people take calculated risks.  They are continuously moving forward rather than looking for security and status quo.  They expect failure and take it in stride as a stepping stone along the way.  People with a  poor mindset try to “get by” rather than “get ahead.”  They tend to see failure as a dead-end and a place to give up.

So is your mindset keeping you stuck?  

Which one of these mindsets is a stumbling block?

Want a great book to read on this topic?  Try Rabbi Daniel Lapin’s book:  Thou Shall Prosper: Ten Commandments for Making Money

Want to change your mindset?  Need some strategies and support?

 Grab a complimentary coaching call here and let’s talk:  https://bookme.name/dreamachiever



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  1. […] whether you are discovering a passion, transitioning to a new career, creating a new business or growing an existing one. Developing a growth mindset is key because we first have to envision the person we want to be […]

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