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Think Like a Billionaire: How to Get Rich Even If You Don’t Have Much Now

Think Like a Billionaire: How to Get Rich Even If You Don’t Have Much Now

Have you ever wondered why some people are rich and some poor? You may think it’s the luck of the draw – the family you were born into, the country you live in, the abundance or lack of good jobs. Yes, these can be factors, but the difference between being rich or poor primarily boils down to one thing.

Are you continually poor and struggling to find enough money, looking at rich people and finding it unfair? Or even someone with a good amount of money and wondering why some people struggle to get the money they want when you find it quite easy?

Abundance Mindset vs. Lack Mindset: the Strong Predictor of Your Future Wealth

Instead of blaming conditions and circumstances as to why some people are rich and some people are poor, consider your state of mind – or rather what type of mindset you have.

Our beliefs are very powerful and can steer our lives in the direction of what we firmly think about. If all you’ve experienced is being poor, then you are likely to continue to have a belief that you will remain poor. On the other end of the spectrum, if you’ve always been rich, you’re more likely to have a belief that you will stay being rich.

It’s all about whether you have an abundance mindset or a lack mindset but what are the differences between these two powerful mindsets when it comes to our money situation?

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10 Key Differences In Behaviour and Mindset Between Rich and Poor

Here I’ll discuss the key differences between an abundance mindset and a lack mindset and how this affects your success with money.

Skepticism vs. Trust

Poor people tend to have a more skeptical view of things. They have a belief that people are out to get their money or rip them off. Do you find you constantly think “I’m not paying that much!” believing that a company is being greedy by pricing something that high? This mindset is coming from a space of lack – lack of money and grudgingly parting with what ‘little’ you have. The focus is primarily on lack.

Rich people are more likely to have a more trusting viewpoint on many subjects. They are more trusting of people, non-skeptical of people’s motives and parting with money. Yes, this is easy if you have more money, but it’s down to the abundance mindset and not focusing on losing something but rather gaining regarding what you’re buying.

Problems vs. Solutions

Poor people generally have a negative mindset when it comes to all areas of life – not just money. They look for the problems rather than the solutions and use these to blame for their circumstances e.g. where they live, the government, not enough jobs, or just other people and their actions. Excuses about why they’re not successful i.e. creating problems, not solutions, is a common mindset.

Rich people, even if they grow up with negative circumstances, are more likely to see it as a chance to take responsibility and do something about it. They accept that life throws obstacles in the way but it’s up to them to find a solution and not turn it into a reason not to succeed.

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‘They’ vs. ‘We’ Mentality

When working in a job, poor people are more likely to separate themselves from the job or company they work for. Creating a ‘them and us’ perspective means you’re essentially not taking responsibility for your role and your role in the company as a whole. When a complaint arises that a service is taking too long, it’s easy to say “it’s because they don’t employ enough staff” being quick to blame and separate from responsibility.

When you have a ‘we’ mentality in a job role, you are showing investment and commitment. It’s about showing your belief in something or someone which spreads trust and investment from others. Would you rather give a tip to a waiter who apologized on behalf of the restaurant or someone separating themselves from the problem who began pushing the blame onto the middle-management?

Assumptions vs. Questions

Making assumptions can be very harmful and keep you in a lacking state of mind. Poor people are more likely to give up because of these assumptions e.g. thinking “I doubt there are going to be any good jobs in this area, so there’s no point in looking” is immediately cutting yourself off from possible opportunities. Lack of questioning and research keeps you in the same poor situations.

On the other hand, the habit of questioning will give you more opportunity to succeed. Thinking ‘what if’ is very common in people who are rich and successful – “what if I ask around about possible jobs?”, “what if I just send an email to the recruiting department in case they have an opening?”. They see possible potential in everything rather than shutting it down with negative assumptions.

Money Importance v.s Time Importance

Poor people will believe their life will ultimately be better if they work more hours for more money. But they are trading precious time they’ll never get back for a few extra dollars. Their focus is more on lack of money and having to compensate through extra work rather than focusing on the quality of time they have.

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Rich people are more likely to focus on the importance of time over money. They see experiences as important to their quality of life and worry less about earning that extra paycheck. Their jobs are more centered around enjoyment of what they do rather than focusing primarily on the money they’re earning.

Criticizing vs. Gratitude

Complaining and criticizing is a common trait in the mindset of someone who’s poor. This has most likely come from embedded beliefs passed down from generations – seeing the majority of things as wrong rather than right. They are more likely to see things from a negative perspective rather than a positive one.

An attitude of gratitude is a healthy mindset that promotes abundance. Counting your blessings and not taking anything for granted brings more of what you appreciate into your life – including money. This is a common mindset of successful people in all areas of their life.

Competition vs. Creation

Poor people are more in competition. This means they see what other people are doing and emulate them. The problem with this is that they never think of a different way of doing something, creating the lack of growth and outside-the-box thinking that brings success.

Successful people see themselves as able to accomplish without comparison or competition with others. They look for different ways of doing and achieving a goal rather than follow what others are doing. This means they are less likely to cut themselves off from getting what they need.

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Amateur Advice v.s Expert Advice

Seeking advice to help yourself is a good thing, but people who are unsuccessful tend to take free or cheap advice from unqualified peers at face value and rarely question or challenge it. The downfall of this is, they’re completely trusting what could be wrong or unhelpful advice meaning it could lead them down the wrong path.

Rich or successful people are likely to seek out expert advice and aren’t afraid to spend money on getting the best there is if it means gaining more success. Expert advice means a thorough, wider variety of options and is seen as more of an investment rather than an expense if it means being on the road to achieving success.

The Cheapest Way vs. The Best Way

Similar to the above point, poor people have a mindset of always trying to find the cheapest deal. Take buying clothes as an example – always heading to the cheap, bargain section and buying a few items may seem like you’re saving money but most of the time you may not even end up wearing the clothes. Making these decisions from a mindset of lack can end up costing you more.

Rich people will invest more and make more conscious decisions about what they’re buying – not necessarily for the cost but the longevity and investment in what they’re buying. They will more likely buy an expensive item of clothing knowing it will get good use than waste money on deals.

Distraction vs. Thinking

People who spend a lot of time being distracted by watching TV or other forms of digital entertainment are taking away their time to invest in growth and critical thinking that could lead to becoming more successful. They are less likely to read books or enrol into courses opting to find distraction instead.

The abundance mindset is shaped by little distraction and rather by getting involved in activities that better yourself and help you see different perspectives. Knowledge is power and taking control to understand yourself, your abilities and your capabilities rather than get distracted will give you more opportunity to develop the abundance mindset and gain success.

So, it doesn’t matter where you’re starting regarding the amount of money you have; it’s about your attitude and mindset. A mindset and perspective of lack will only bring you more of the same so why not turn that around? Get into the habit of thinking from a space of abundance and see how it changes, not just your money situation, but your life as a whole.

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Jenny Marchal

A passionate writer who loves sharing about positive psychology.

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Last Updated on March 25, 2020

How Do You Change a Habit (According to Psychology)

How Do You Change a Habit (According to Psychology)

Habits are hard to kill, and rightly so. They are a part and parcel of your personality traits and mold your character.

However, habits are not always something over-the-top and quirky enough to get noticed. Think of subtle habits like tapping fingers when you are nervous and humming songs while you drive. These are nothing but ingrained habits that you may not realize easily.

Just take a few minutes and think of something specific that you do all the time. You will notice how it has become a habit for you without any explicit realization. Everything you do on a daily basis starting with your morning routine, lunch preferences to exercise routines are all habits.

Habits mostly form from life experiences and certain observed behaviors, not all of them are healthy. Habitual smoking can be dangerous to your health. Similarly, a habit could also make you lose out on enjoying something to its best – like how some people just cannot stop swaying their bodies when delivering a speech.

Thus, there could be a few habits that you would want to change about yourself. But changing habits is not as easy as it seems.

In this article, you will learn why it isn’t easy to build new habits, and how to change habits.

What Makes It Hard To Change A Habit?

To want to change a particular habit means to change something very fundamental about your behavior.[1] Hence, it’s necessary to understand how habits actually form and why they are so difficult to actually get out of.

The Biology

Habits form in a place what we call the subconscious mind in our brain.[2]

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Our brains have two modes of operation. The first one is an automatic pilot kind of system that is fast and works on reflexes often. It is what we call the subconscious part. This is the part that is associated with everything that comes naturally to you.

The second mode is the conscious mode where every action and decision is well thought out and follows a controlled way of thinking.

A fine example to distinguish both would be to consider yourself learning to drive or play an instrument. For the first time you try learning, you think before every movement you make. But once you have got the hang of it, you might drive without applying much thought into it.

Both systems work together in our brains at all times. When a habit is formed, it moves from the conscious part to the subconscious making it difficult to control.

So, the key idea in deconstructing a habit is to go from the subconscious to the conscious.

Another thing you have to understand about habits is that they can be conscious or hidden.

Conscious habits are those that require active input from your side. For instance, if you stop setting your alarm in the morning, you will stop waking up at the same time.

Hidden habits, on the other hand, are habits that we do without realizing. These make up the majority of our habits and we wouldn’t even know them until someone pointed them out. So the first difficulty in breaking these habits is to actually identify them. As they are internalized, they need a lot of attention to detail for self-identification. That’s not all.

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Habits can be physical, social, and mental, energy-based and even be particular to productivity. Understanding them is necessary to know why they are difficult to break and what can be done about them.

The Psychology

Habits get engraved into our memories depending on the way we think, feel and act over a particular period of time. The procedural part of memory deals with habit formation and studies have observed that various types of conditioning of behavior could affect your habit formations.

Classical conditioning or pavlovian conditioning is when you start associating a memory with reality.[3] A dog that associates ringing bell to food will start salivating. The same external stimuli such as the sound of church bells can make a person want to pray.

Operant conditioning is when experience and the feelings associated with it form a habit.[4] By encouraging or discouraging an act, individuals could either make it a habit or stop doing it.

Observational learning is another way habits could take form. A child may start walking the same way their parent does.

What Can You Do To Change a Habit?

Sure, habits are hard to control but it is not impossible. With a few tips and hard-driven dedication, you can surely get over your nasty habits.

Here are some ways that make use of psychological findings to help you:

1. Identify Your Habits

As mentioned earlier, habits can be quite subtle and hidden from your view. You have to bring your subconscious habits to an aware state of mind. You could do it by self-observation or by asking your friends or family to point out the habit for your sake.

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2. Find out the Impact of Your Habit

Every habit produces an effect – either physical or mental. Find out what exactly it is doing to you. Does it help you relieve stress or does it give you some pain relief?

It could be anything simple. Sometimes biting your nails could be calming your nerves. Understanding the effect of a habit is necessary to control it.

3. Apply Logic

You don’t need to be force-fed with wisdom and advice to know what an unhealthy habit could do to you.

Late-night binge-watching just before an important presentation is not going to help you. Take a moment and apply your own wisdom and logic to control your seemingly nastily habits.

4. Choose an Alternative

As I said, every habit induces some feeling. So, it could be quite difficult to get over it unless you find something else that can replace it. It can be a simple non-harming new habit that you can cultivate to get over a bad habit.

Say you have the habit of banging your head hard when you are angry. That’s going to be bad for you. Instead, the next time you are angry, just take a deep breath and count to 10. Or maybe start imagining yourself on a luxury yacht. Just think of something that will work for you.

5. Remove Triggers

Get rid of items and situations that can trigger your bad habit.

Stay away from smoke breaks if you are trying to quit it. Remove all those candy bars from the fridge if you want to control your sweet cravings.

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6. Visualize Change

Our brains can be trained to forget a habit if we start visualizing the change. Serious visualization is retained and helps as a motivator in breaking the habit loop.

For instance, to replace your habit of waking up late, visualize yourself waking up early and enjoying the early morning jog every day. By continuing this, you would naturally feel better to wake up early and do your new hobby.

7. Avoid Negative Talks and Thinking

Just as how our brain is trained to accept a change in habit, continuous negative talk and thinking could hamper your efforts put into breaking a habit.

Believe you can get out of it and assert yourself the same.

Final Thoughts

Changing habits isn’t easy, so do not expect an overnight change!

Habits took a long time to form. It could take a while to completely break out of it. You will have to accept that sometimes you may falter in your efforts. Don’t let negativity seep in when it seems hard. Keep going at it slowly and steadily.

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Featured photo credit: Mel via unsplash.com

Reference

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