The rich buys wealth while the poor buys liability

[Kelward]

The difference between the poor and the rich is in the mentality the view of the poor and that of the rich is the difference because while the rich is more concerned about increasing their wealth by investing or doing things that will lead to their wealth being increased so that they can become more richer the poor is not concerned about that to the poor it's about enjoying life and getting the good things out of life that is why they prioritize buying expensive things.



I think that the main reason why the the poor will continue to get poorer and the rich will continue to get richer is in the kind of things that they prioritize the poor doesn't think of economic sustainability and progress which is the reason why they will continue to remain poor

Most poor people dream of getting out of poverty and living better lifestyles but they don't think about building wealth. If they are opportuned to come into huge amount of money maybe through inheritance they will automatically want to live their dreams not considering that riches needs to be sustained. Most poor people don't have the mentality to invest money into profitable assets that will be giving them profits to gradually live their dreams.

I know that many rich people were not born by rich parents, they just refused to remain poor and they learnt the mentality of the rich and took advantage of opportunities to become rich.

[bubilas]

The poor can't be blamed for thinking about the things they've always dreamed of, such as a luxury home, a car, high end electronics, food, clothing and so on, because they are deprived of these things. Once they receive money one day the first thing they do is make up for the deprivation they've endured for so long.

Unfortunately, this is a waste of money. When they buy what they've dreamed of and fill the gap they've always felt they're surprised to find they've squandered their money and no longer have enough capital to start their own business or a successful trade. Therefore yes, the mentality of the poor differs from that of the rich, and their thinking is different because the former has everything, while the latter is deprived of everything.

But natural selection is merciless, and only those who achieve what they always wanted by their own efforts get what they want. It is impossible for everyone to become rich at once. Nature believes that this is wrong and the strong, cunning and smart will be successful. All who gave up their place, did not fight and did not think will be carried to the shore of poverty. Therefore, I am glad that there are cryptocurrencies that destroy the unfair part of my words above. We are not guilty of monetary injustice, and therefore this era has given us a chance to change the economic foundations of the time.

[Cookdata]

Most poor people dream of getting out of poverty and living better lifestyles but they don't think about building wealth. If they are opportuned to come into huge amount of money maybe through inheritance they will automatically want to live their dreams not considering that riches needs to be sustained. Most poor people don't have the mentality to invest money into profitable assets that will be giving them profits to gradually live their dreams.

I know that many rich people were not born by rich parents, they just refused to remain poor and they learnt the mentality of the rich and took advantage of opportunities to become rich.

Maybe they don't have the means to escape the poverty lifestyle. It's one thing to be poor and be anticipating to leave that stage and it's another to be anticipating to be rich while having some connections. There is one thing you need to understand, been poor is one bad thing that any human can experience because you wouldn't have any connection and you know why? Because many people don't like to associate their self with poor people, it's big disadvantage.

Been poor just comes with a lot of red flag, you leave in a place where there is no opportunities and when there is no opportunity you are bound to limited to only what's around you, no way you can make it out of that surroundings. You are also limited to exposure, you don't have the chance to go out and see things that's happening where you can get to meet people that can help you or need the kind of service you can render to them, poverty is very expensive.

[nara1892]

Yes, that's the difference in the actions or thoughts of rich and poor people when they have money, you've explained everything OP and the trigger lies in a different mindset, I'm sure education and environment influence it, rich people have better education about money which makes them know how to manage money and spend it properly, rich people use money as a tool to achieve goals by using it for something that can grow, while poor people use money as a goal in itself such as to buy everything they want without thinking whether it can provide a return or not.

Basically, education and understanding given by parents can indeed cause significant differences in thinking and perspectives on money for a child, but there are also people who grow up in poor environments who can become rich, usually they are people who dare to get out of their comfort zone, dare to take risks and build many relationships, sometimes hanging out with rich people is important.

[₿itcoin]

Yes, that's the difference in the actions or thoughts of rich and poor people when they have money, you've explained everything OP and the trigger lies in a different mindset, I'm sure education and environment influence it, rich people have better education about money which makes them know how to manage money and spend it properly, rich people use money as a tool to achieve goals by using it for something that can grow, while poor people use money as a goal in itself such as to buy everything they want without thinking whether it can provide a return or not.

Basically, education and understanding given by parents can indeed cause significant differences in thinking and perspectives on money for a child, but there are also people who grow up in poor environments who can become rich, usually they are people who dare to get out of their comfort zone, dare to take risks and build many relationships, sometimes hanging out with rich people is important.

Rich people think in terms of systems, not luxuries at all. You know they don't see money only as a tool to spend for the moment, but as a tool to generate more. They see problems as opportunities and take calculated risks, while the weak minded fear change & cling to short term security

Financial literacy & environment also play a role. Early exposure to money concepts (saving, reinvesting, budgeting) firmly establishes long term habits. But real change also requires mental resilience. most of the model school are now teaching contingency thinking and adaptability, preparing students for real world financial shocks

Yes, upbringing is important, but what sets many apart is the willingness to learn, take risks, & build system. Even people from less privileged backgrounds can break this pattern by choosing education, stepping out of their comfort zones & surrounding themselves with forward thinking people

[reagansimms]

Clearly, the difference in mindset between rich and poor people can affect the way they manage their finances. Rich people always try to make money as a machine that can produce other money to achieve goals and improve the quality of life with profits from business and investment, while poor people tend to have a negative attitude, they see money as a source of realizing dreams by buying household appliances, wearing branded clothes and buying cars with the reason of wanting to enjoy life without prioritizing business and investment.

At this point, the difference between the two is very clear. Rich people are able to manage their finances well, make plans and manage them more effectively, while most poor people are not yet able to manage their finances well, resulting in uncontrolled spending and a lack of long-term planning.

[milewilda]

The difference between the poor and the rich is in the mentality the view of the poor and that of the rich is the difference because while the rich is more concerned about increasing their wealth by investing or doing things that will lead to their wealth being increased so that they can become more richer the poor is not concerned about that to the poor it's about enjoying life and getting the good things out of life that is why they prioritize buying expensive things.



I think that the main reason why the the poor will continue to get poorer and the rich will continue to get richer is in the kind of things that they prioritize the poor doesn't think of economic sustainability and progress which is the reason why they will continue to remain poor

Most poor people dream of getting out of poverty and living better lifestyles but they don't think about building wealth. If they are opportuned to come into huge amount of money maybe through inheritance they will automatically want to live their dreams not considering that riches needs to be sustained. Most poor people don't have the mentality to invest money into profitable assets that will be giving them profits to gradually live their dreams.

I know that many rich people were not born by rich parents, they just refused to remain poor and they learnt the mentality of the rich and took advantage of opportunities to become rich.

On the moment that there would be that mismanagement when it comes to the funds then you would definitely be ending up on disaster no matter how big the money you have inherited and thats why if ever you have recieved something on which it could give out that kind of opportunity for you to have that start up on having a business and investment then you should be doing it. Just like on what you have said that the main issue on here is on the moment or time that someone do able to have that kind of access for some big amounts then they would be prioritizing on buying up some liabilities or something on which it doesnt generate income. If you're someone who had been living with poverty then pretty sure that you would be having that kind of priority when it comes into this aspect on buying up on things on what you want that you will be prioritizing. If you do come into point that you will be able to make up those realizations at the moment that you had been able to spend up all of those amounts and made out some regrets at the nd of the line.

[alastantiger]

I know that many rich people were not born by rich parents, they just refused to remain poor and they learnt the mentality of the rich and took advantage of opportunities to become rich.

There's a common misconception that the rich didn't have an easy way to wealth but that's a lie because many presently rich people have better advantages than most of us but there's no lie that they had determination to succeed and that's why they got where they're presently. Name few rich individual and you can see they had rich parents or people that helped them to where they are but we the poor ones don't have such.

This doesn't mean we won't try our own best to survive and become rich ourselves but let us not act like the poor aren't trying their best. There's a lot of responsibility on the poor man because you don't have sufficient resources like the rich. When you get some money, you already have so much responsibility that'll take most of the money from you because you don't have help from anybody. If the poor had same amount of money the rich those, they'll be investing too.

[Strongkored]

Poverty starts from a poor mindset, only thinking about how to spend instead of saving and investing, only thinking about how to fulfill the desires of the heart instead of spending for necessities, that's why there is no money that can be saved, even borrowing for unimportant things is not a mistake. Living only from one desire to another, this is difficult to change because they live in an environment that does the same thing.
If want to escape poverty, start by being in an environment that can change our mindset for the better.

[hafiztalha]

Poverty starts from a poor mindset, only thinking about how to spend instead of saving and investing, only thinking about how to fulfill the desires of the heart instead of spending for necessities, that's why there is no money that can be saved, even borrowing for unimportant things is not a mistake. Living only from one desire to another, this is difficult to change because they live in an environment that does the same thing.
If want to escape poverty, start by being in an environment that can change our mindset for the better.

In my point of view, rich also buy liabilities but they know the time when to buy a house or car in which they will enjoy their life and they always try to sell a house or car which they have and they are continuously changing the house and cars but everyone had different preference because many people want to buy a house and they don't drive a car even they have millions of dollars in the Bank and they are using rented car . Rich people always try to open more businesses because these will give more profit than doing investment in only one business.Poor people always try to eat more and they are going to big hotels which they can't afford but they want to enjoy rich life and they are taking loan from the banks .

[Chilwell]

Clearly, the difference in mindset between rich and poor people can affect the way they manage their finances. Rich people always try to make money as a machine that can produce other money to achieve goals and improve the quality of life with profits from business and investment, while poor people tend to have a negative attitude, they see money as a source of realizing dreams by buying household appliances, wearing branded clothes and buying cars with the reason of wanting to enjoy life without prioritizing business and investment.

At this point, the difference between the two is very clear. Rich people are able to manage their finances well, make plans and manage them more effectively, while most poor people are not yet able to manage their finances well, resulting in uncontrolled spending and a lack of long-term planning.

You have said it all, if not that I don't know you I will say we live in the same environment, because the example of both rich and poor are found in our area where I live. If you are to judge by by the looks between poor man and the rich man you will choose the poor man as a wealthy man while the rich man is a poor man of the way they look and expensive things they are using. Immediately I saw this post I just think about people I have around me but in this scenario money speak for wealthy people while poor man have to make himself uncomfortable so that he will be respected in the community.

Poor people accommodate liabilities and that is why they found it difficult to get along in the modern society which is why they don't care how the money comes but to just meet their needs, they also continue to leave in debt which they don't have provision for repayment or any plans at all because poor people borrow for consumption while wealthy people borrow for production that's the only difference as an concern.

[_BlackStar]

-snip-

In my point of view, rich also buy liabilities but they know the time when to buy a house or car in which they will enjoy their life and they always try to sell a house or car which they have and they are continuously changing the house and cars but everyone had different preference because many people want to buy a house and they don't drive a car even they have millions of dollars in the Bank and they are using rented car . Rich people always try to open more businesses because these will give more profit than doing investment in only one business.Poor people always try to eat more and they are going to big hotels which they can't afford but they want to enjoy rich life and they are taking loan from the banks .

When we know that two types of people with different financial status have different preferences - then we have to realize that their mindset about money is also different. Those with better financial status often use money as a weapon to make more money. Poor people are different - they are certainly more consumerist and prioritize short-term needs. This different mindset is what differentiates the two - but we shouldn't generalize them.

I know not all poor people have the wrong mindset - some are actually better off than some rich people. Some rich people are afraid of losing their wealth and are more comfortable with what they already have - but the poor continue to try to grow and build their castles until they succeed without the same fear.

[Solodoski]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

You said it all already that the difference between the poor and the rich is not money, but the mindset. I always tell people that the worst kind of poverty is that of the mind. A man with a lot of money can be poor in mind while a poor man can be rich in their mindset, which makes him rich even with no physical evidence yet.
The rich or those with the rich mindset always find a way to invest their money and make the money work for them, why the poor always buy liability once they make money. This is the major reason why the rich will keep getting richer while the poor gets poorer.

[eightdots]

-snip-

In my point of view, rich also buy liabilities but they know the time when to buy a house or car in which they will enjoy their life and they always try to sell a house or car which they have and they are continuously changing the house and cars but everyone had different preference because many people want to buy a house and they don't drive a car even they have millions of dollars in the Bank and they are using rented car . Rich people always try to open more businesses because these will give more profit than doing investment in only one business.Poor people always try to eat more and they are going to big hotels which they can't afford but they want to enjoy rich life and they are taking loan from the banks .

When we know that two types of people with different financial status have different preferences - then we have to realize that their mindset about money is also different. Those with better financial status often use money as a weapon to make more money. Poor people are different - they are certainly more consumerist and prioritize short-term needs. This different mindset is what differentiates the two - but we shouldn't generalize them.

I know not all poor people have the wrong mindset - some are actually better off than some rich people. Some rich people are afraid of losing their wealth and are more comfortable with what they already have - but the poor continue to try to grow and build their castles until they succeed without the same fear.

Many factors influence how people view money. Everyone's expectations may not be the same, which can lead to different preferences. Those who have money generally aim to earn more or prevent their money from losing value. In other words, their perspectives differ, and they use money accordingly.

Those who are not wealthy, however, aim to earn money and have it exceed a certain amount. With a sound plan, they can become wealthy. The choices made in financial matters can lead to either wealth or poverty; the important thing is to manage money wisely and act with a sound plan.

[Oshio-man]

Poor people procrastinate on how to take advantage in a particular investment, while rich people rush to take advantage on any investment that is profitable, poor people see Rich people like fraudster base on the way they are spending money on some potential projects that will make their wealth growing for their unborn children to inherit the wealth, while poor people don't save or invest for their unborn children to inherit in the future than to make their unborn children to inherit debt, As a responsible father, don't allow your children to depend on you financially on the time because if anything happen to your wealth, it will definitely affect your children and those that is depending on you to feed but if you teach them on how to save and invest in cryptocurrency or other investment it will make them not to turn to poor people in the society.

[Pablo-wood]

While we consider the mindset differentiate the poor and the rich, I will say the poor believe so much in saving and the think through saving enough money they will navigate their way out of poverty but the shocking reality remains no one gets rich by saving. Riches and wealth generation comes through investments.

Mere savings can only generate money to solve problems and will keep one in perpetual loop but investments which is seen as sending money on an errand so it fetches more money solves the puzzle of unlocking wealth

[Scarlett_23]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Before buying something, you will waste less money if you understand how much you need it. Wasting money unnecessarily or wasting more money on using something that you don't need is a sign of unaccountability.

Rich people are calculating. They plan and make a budget before spending, and their spending is investment-oriented, that is, they buy something that will increase their income. This calculation of income and expenditure means that financial education is the main foundation of future financial freedom. Rich people are influenced by friends and people around them, that is, everyone around rich people is almost at the same level. As a result, if one person invests in one field, others will also be interested in the same type of investment. The rich also learn the lesson of financial management from their friends or acquaintances.

On the other hand, a poor person, even if he has a little money, tries to waste his money in various ways. He buys something that has the potential to waste his money even more. Their expenses remain as expenses, their expenses are not investment-oriented. A poor person cannot learn about investment from his family, neighbors or friends.

[Sanitough]

Yes, that's the difference in the actions or thoughts of rich and poor people when they have money, you've explained everything OP and the trigger lies in a different mindset, I'm sure education and environment influence it, rich people have better education about money which makes them know how to manage money and spend it properly, rich people use money as a tool to achieve goals by using it for something that can grow, while poor people use money as a goal in itself such as to buy everything they want without thinking whether it can provide a return or not.

Basically, education and understanding given by parents can indeed cause significant differences in thinking and perspectives on money for a child, but there are also people who grow up in poor environments who can become rich, usually they are people who dare to get out of their comfort zone, dare to take risks and build many relationships, sometimes hanging out with rich people is important.

It only shows that poor people should not limit their socialization only for the poor only, but they have to set higher goals as well and mingle with rich people too, not only to gain influence, but also to imitate how these rich people are dealing in their successful lives.

That way, the poor will have a shift of mindset and interest. And the good thing is, they already have seen the future result if they will follow that, that they can also get rich in the future, as long as they have also the potentials to succeed on whatever their goal is.

[alastantiger]

Poor people procrastinate on how to take advantage in a particular investment, while rich people rush to take advantage on any investment that is profitable, poor people see Rich people like fraudster base on the way they are spending money on some potential projects that will make their wealth growing for their unborn children to inherit the wealth, while poor people don't save or invest for their unborn children to inherit in the future than to make their unborn children to inherit debt,

The mindsets are different between the rich and the poor because if we're to give the money to the poor people, they'll be broke again because they don't have what its needed to become rich. The poor will take all the money they have made to buy liability and make you think they're wealthy because of how they're spending money but what's happening is that, the poor people are only trying to make others think they're rich while they aren't.

The rich cares more about things that can keep making them more money to keep their wealth multiplying but a poor man will want to spend the money they have instead of investing. People have to get a change of mentality before they can manage the money they get and increase their network.

[ancafe]

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Opportunities and chances can be seized by anyone to achieve a better life, and those who have the ability to recognize opportunities will strive for a much better life. People born into wealthy families may have great opportunities due to the drive and opportunity, but those of us born into humble families also have the same opportunities if we are willing to fight. Many poor people become rich because they are willing to work hard to escape poverty, and they know that opportunities don't come without fighting.

If we realize we're still poor, we should focus on developing our skills and seeking out opportunities to earn money. This way, we can gradually take steps to invest and grow our business. Nothing is impossible if we're willing to work hard, but achieving success requires skill, as it doesn't come for free.