Most people believe the solution to the widening wealth inequality is to take from the rich and give to the poor. Let’s say we took this advice. We agree to divide all the wealthy in the world equally to the 7 point something billion people on earth. Everyone gets about $32,500. End of poverty, right? Well, before you answer that, let’s look at what is likely to play out afterwards.
Most people will put their money in the bank and in safe investment portfolios. Few people will take the money from the bank, and start creating products and services for these people that now seem to have a lot of money to spend. More than few will develop the skills to keep making more money. Majority of people will look for that dream car, home or latest gadget to buy.
In five to ten years, we’ll probably return to where we started; maybe a little worse because we’ll now have more poor people with over inflated egos. Here is the point; if you don’t change the mind, nothing will change.
Now, let’s explore 25 things poor people do that rich people don’t. If you are new to After School Africa, welcome. Want to get wiser? Consider subscribing to the Youtube channel to continue exploring opportunities and for more videos like this one below:
WATCH: 7 Reasons Why Most Educated People End Up Poor!
1. They don’t understand the Game
What is the game? The game of numbers. Poor people are quick to complain about why the entertainers earn so much money whereas a hardworking school teacher goes home with miserable pay. What they don’t understand is that wealth is attracted to numbers. Your earning is directly proportional to the number of people you efficiently serve in the society, directly or indirectly.
2. Lack of a Value System
Values are a quintessential part of life, they guide, navigate and drive fulfillment. A truly poor person is one without values and positive character. A man without values is like a ship without rudder that is tossed to and fro by the wind, he has no sense of purpose or direction.
3. No Birth Control
Kids need good education, decent clothing, shelter and access to quality health care. These require a lot of money. The irony is that while many poor people give birth without restraint, the rich are the ones who pay attention to having fewer kids. That is how poor people continue to recycle a generation of poverty.
4. Flawed Priorities
We all have priorities. People choice what to do with their time based on their priority. Poor people prioritize based on emotion and what comes easier to them; whereas rich people prioritize based on what’s more important.
5. Lack of Effective Time Management
According to Robert Kiyosaki, a foremost writer and financial instructor; “The only difference between a rich person and a poor person is how they use their time”. The poor are victim of time. In his old age he looks back and realizes he used his time unproductively. The rich understands the efficacy of time management so he protects and priorities his time by paying others to handle less important things.
6. They lack motivation
Motivation comes from the word ‘motive’. And ‘motive’ is derived from ‘to move’. You are motivated when you have a reason to move; that is ‘moving for a purpose’. Poor people don’t have compelling reason to make purposeful moves and make necessary sacrifices. If you want to become successful, you must first Start with why.
7. They only work for money
The average person wants a job so that they can pay bills and live comfortably. People who become successful work to learn from the job.
8. Lack of Strategic Investment
Poor people don’t invest in assets that generate returns and appreciate in value. They seldom invest in properties, real estate, businesses or people. They believe God will provide and tomorrow will take care of itself. People who become rich invest in assets that appreciates in value.
9. Running without a Budget
The poor are rarely planners; they are not financially accountable and run their affairs without deliberate financial planning. This lack of financial accountability is a financial mayhem the rich don’t patronize. The rich don’t spend on impulse; with them any financial transactions or commitment must be accounted for.
10. They rely on will power
Have you ever felt a surge of energy to start something? Were you able to maintain that level of energy over a period of time? Most likely not. Successful people understand that Will Power is not enough; neither is good intention. So they rely on systems and habits to keep them going. Poor people rely on their will power and wonder why they cannot stick with a random decision.
11. Lack of Self Development.
Jim Rohn reiterates: “Formal education will make you a living; self-education will make you a fortune. How many poor people have a mini-library? They believe reading that book, taking that course or working with a mentor are all waste of time and money. Meanwhile, the rich continue to invest in knowledge.
12. Not Taking Calculated Risk
Life is a game of risk and those who take more risk are the ones who make their life count. The average poor person is afraid to take a leap. He’ll rather sit comfortably in his comfort zone. The rich however, are willing to go the extra mile for their dreams and achieve the impossible.
13. Always Playing the Blame Game
Taking full responsibility is an attribute that is alien to poor people. They are quick to blame the government, their parents or ‘village people’ for their woes. Yet will turn down the chance to make a difference in their live by churning responsibility disguised as work.
14. Bad Saving Culture
Life is full of ups and down and one must be prepared by saving a substantial amount for emergencies. Poor people are often at the mercy of other people in tough times because they have little to nothing to fall back on.
15. Nonchalant Attitude towards their Health
Health is wealth and deserves utmost priority; but, most poor people seldom take their health seriously. They would rather take shortcuts to avoid healthy maintenance. Buying medicines from hawkers, eating uncoordinatedly, delaying treatment and other examples. In the end, it costs them more.
16. Keeping the Wrong Company
Poor people glory in their comfort zone, so they keep company with people they feel superior to or at the same mental capacity with. For the poor, protecting their ego is more important than accepting ignorance. Rich people on the other hand, make the effort of surrounding themselves with smarter people.
17. They Watch Too Much Television
There’s no problem watching T.V but watching too much T.V is a problem. The poor spend too much time watching T.V programs that doesn’t change their status but steal their precious time. The rich on the other hand have selected time they watch T.V; in most cases they barely do.
18. Turn Down Opportunities
Problems and obstacles are often opportunities in disguise. For poor people, problems and obstacles must be avoided at all cost. By running away at the sight of a challenge, they end up turning down opportunities to learn and grow.
19. They Bank on Wishes and Luck
The rate of gambling today is quite alarming with the entrant of new gambling outfits on a daily basis. This sudden rise in gambling says a lot about the poor in society who would rather gamble than invest. They believe in luck but no one ever achieve anything great by wishful thinking.
20. Giving Room for Pessimism
What if I fail? What if it doesn’t work? Poor people are full of negative what ‘ifs’. They fail to ask the alternative questions; what if I succeed? What if it works? This is the attitude of the rich.
21. Lack of Vision
Poor people often lack a sense of direction. They have no understanding of where they are going, how and why they need to get there. What they don’t understand is that life is deliberate. You get from live what you ask of it.
22. Lack of Focus
It takes concentrated effort to achieve anything worthwhile. It takes resolve to Follow One Course Until Successful. This is not a quality most poor people possess. It’s too much to ask of them. They’ll rather jump from one scheme to the next looking for quick breaks. Note this; you cannot achieve anything worthwhile without concentrated effort on one thing.
23. They give up too quickly
Tenacity is an attribute most poor people lack. They are quick to give up on their goals. The poor don’t go the extra mile whether with pursuing their dreams, building an enterprise or following through on making life changing decisions.
24. They are Master Procrastinators
Everyone procrastinate. But some people are master procrastinators. They are always waiting for the perfect time and opportunity. They believe the time to do something is always in the future not today. Because the future never arrives, they end up doing nothing.
25. They are afraid of change
In the words of Thomas Jefferson, former American President, “If you want something you’ve never had, you have to do something you’ve never done” It takes accepting that you have been wrong about something to agree to change. And most people will rather be right; that is why most people remain poor.
Yes, there are poor people in circumstances that are beyond their control, but the majority of people watching this video have the power to change their life, if they will accept to take responsibility for their life.