10 Financial Habits & Mindsets That Hold You Poor
The Things Poor People Do That the Rich Don’t (And How to Break Free and Change Your Life Today)
The Habits That Make or Break Success
Hey there, my friend
Let’s start with a truth that might surprise you:
The difference between the rich and the poor isn’t just about how much money they have in their bank accounts. It’s about something deeper—mindsets, habits, and decisions that shape the way they approach life, opportunities, and challenges.
Now, let me be clear: This article isn’t about blaming poverty on individuals or oversimplifying the complexities of wealth inequality. External factors like systemic barriers, lack of access to resources, and economic inequality play a massive role, and those things can’t be ignored.
But today, we’re going to focus on something you can control: the habits and mindsets that might be holding you back from financial freedom and personal growth.
The truth is, success leaves clues. By studying the habits of the wealthy—how they think, act, and manage their lives—and comparing them to common patterns that keep people in financial struggle, we can start to uncover actionable insights that can transform your approach to money and life.
This isn’t about becoming a billionaire overnight or chasing materialism. It’s about shifting your mindset, adopting new habits, and creating the foundation for long-term success on your own terms. So, whether you’re looking to improve your finances, build a business, or simply cultivate a more abundant mindset, this article is for you.
Let’s dive into the habits and choices that separate the rich from the poor—and how you can start making powerful changes today.
The Power of Habits and Mindsets
Before we dive into the specific habits, let’s talk about why they matter so much.
Habits are the small, repeated actions we take every day, often without even thinking about them. Over time, these habits compound to shape our lives, for better or worse.
Mindset, on the other hand, is the lens through which you view the world. It’s your beliefs about money, opportunity, and your own potential. If your mindset is rooted in scarcity and fear, it will influence every decision you make—from how you spend your time to how you handle money.
The good news? Both habits and mindsets can be changed. It’s not easy, but it’s possible—and recognizing the patterns that don’t serve you is the first step.
So, let’s dive into 10 specific things that poor people tend to do—and the rich don’t—and explore how you can start breaking free from these patterns today.
1. They Avoid Talking About Money
One of the most common habits that keeps people stuck financially is avoiding conversations about money.
For many people, money feels like a taboo subject—something too personal, stressful, or embarrassing to discuss openly. This avoidance creates a lack of awareness about finances, making it harder to manage debt, save, or plan for the future.
What the Rich Do Instead:
The wealthy treat money as a tool, not a taboo. They prioritize financial education, seek advice from experts, and have regular discussions about their goals, budgets, and investments. By facing their finances head-on, they stay in control and make informed decisions.
How to Shift:
Start by reviewing your financial situation honestly, even if it feels uncomfortable.
Have open conversations with your partner, family, or a trusted advisor about your goals and challenges.
Seek out resources like books, podcasts, or courses to build your financial literacy.
2. They Let Fear of Failure Hold Them Back
Fear of failure is one of the biggest barriers to success.
Many people hesitate to take risks—whether it’s starting a business, pursuing a new job, or investing—because they’re afraid of losing what they have or facing rejection.
This fear often keeps people stuck in their comfort zones, which may feel safe but rarely lead to growth.
What the Rich Do Instead:
The wealthy know that failure is a stepping stone to success. They embrace calculated risks, learn from their mistakes, and keep moving forward. They understand that every failure is an opportunity to grow, adapt, and get closer to their goals.
How to Shift:
Reframe failure as feedback. Ask yourself, “What can I learn from this experience?”
Start small by taking low-stakes risks, like learning a new skill or trying a side hustle.
Surround yourself with people who encourage growth and resilience.
3. They Spend Instead of Investing
Poor people often prioritize spending over investing.
This might mean splurging on things that bring immediate gratification—like eating out, buying new gadgets, or upgrading their car—rather than putting money into assets that grow in value over time.
What the Rich Do Instead:
The wealthy focus on building assets rather than accumulating liabilities. They invest in things like real estate, stocks, businesses, and education that generate long-term returns. They understand that every dollar spent today is a dollar that could have been growing tomorrow.
How to Shift:
Start by tracking your spending and identifying areas where you can cut back.
Open an investment account and begin contributing, even if it’s a small amount.
Learn about different types of investments and how they can help you build wealth over time.
4. They Blame Circumstances Instead of Taking Responsibility
When life feels unfair, it’s easy to blame external factors—like the economy, your upbringing, or bad luck—for your struggles.
While these factors do play a role, staying stuck in a victim mindset often prevents people from taking action to change their circumstances.
What the Rich Do Instead:
The wealthy take ownership of their lives. They acknowledge the challenges they face but focus on what they can control. By taking responsibility for their choices and actions, they empower themselves to create solutions and seize opportunities.
How to Shift:
Reflect on one area of your life where you feel stuck. Ask yourself, “What’s one small step I can take to improve this?”
Replace blame with action. Focus on solutions rather than obstacles.
Practice gratitude to shift your perspective from scarcity to abundance.
5. They Avoid Budgeting and Planning
Many people struggle financially because they don’t have a clear plan for their money.
Without a budget, it’s easy to overspend, rack up debt, or miss opportunities to save and invest.
What the Rich Do Instead:
The wealthy are intentional about their finances. They create budgets, set goals, and track their progress. They know that every dollar has a purpose, and they make their money work for them.
How to Shift:
Create a simple budget that tracks your income, expenses, and savings.
Set specific financial goals, like building an emergency fund or paying off debt.
Use tools like apps or spreadsheets to stay organized and accountable.
6. They Surround Themselves with Negative Influences
The people you spend time with have a huge impact on your mindset and habits.
If you’re surrounded by negativity, gossip, or people who discourage growth, it’s harder to stay motivated and focused on your goals.
What the Rich Do Instead:
The wealthy surround themselves with people who inspire, challenge, and support them. They seek out mentors, join communities of like-minded individuals, and build relationships with people who share their values and ambitions.
How to Shift:
Take an honest look at your social circle. Are your relationships lifting you up or holding you back?
Seek out positive influences, like networking groups or online communities.
Find a mentor who can guide and encourage you on your journey.
7. They Focus on Problems Instead of Solutions
This mindset keeps people stuck in cycles of frustration and inaction.
When faced with challenges, it’s easy to dwell on what’s wrong instead of looking for a way forward.
What the Rich Do Instead:
The wealthy focus on solutions, not problems. They approach challenges with curiosity and creativity, asking, “How can I solve this?” rather than “Why is this happening to me?” This proactive mindset helps them overcome obstacles and stay resilient.
How to Shift:
When faced with a problem, write down three possible solutions.
Practice reframing challenges as opportunities to learn and grow.
Keep a journal to track how you’ve overcome past challenges—it’s a great reminder of your resilience.
8. They Prioritize Entertainment Over Education
While entertainment offers instant gratification, it rarely contributes to long-term growth.
Many people spend hours watching TV, scrolling social media, or playing games instead of investing in their personal development.
What the Rich Do Instead:
The wealthy prioritize learning over leisure. They read books, take courses, listen to podcasts, and seek out mentors to expand their knowledge and skills. They understand that education is the key to unlocking new opportunities.
How to Shift:
Replace 30 minutes of entertainment with personal development each day.
Create a “learning list” of books, podcasts, or online courses to explore.
Set specific goals for improving your skills, like learning about investing or entrepreneurship.
9. They Stay Comfortable Instead of Growing
Growth requires discomfort.
It means stepping into the unknown, taking risks, and challenging yourself. But many people avoid discomfort, opting to stay in jobs, routines, or mindsets that feel safe—even if they’re unfulfilling.
What the Rich Do Instead:
The wealthy embrace growth, even when it’s uncomfortable. They push themselves to learn new skills, take on challenges, and step outside their comfort zones. They know that growth and success go hand in hand.
How to Shift:
Identify one area of your life where you feel stuck. What’s one small step you can take to grow?
Challenge yourself to try something new each week, whether it’s a skill, activity, or habit.
Remind yourself that discomfort is temporary, but growth is lasting.
10. They Think Short-Term Instead of Long-Term
Poor people often focus on immediate needs and desires, neglecting to plan for the future.
Living in the moment can be wonderful, but when it comes to finances, it often leads to short-term thinking. Living paycheck to paycheck often forces people to focus on immediate needs, but this short-term mindset can prevent them from planning for the future.
What the Rich Do Instead:
The wealthy think long-term. They set goals, create strategies, and make decisions that align with their vision for the future. They prioritize delayed gratification over instant rewards.
How to Shift:
Start by setting one long-term goal, like saving for a home or retirement.
Break it down into smaller, actionable steps, like saving a certain amount each month.
Visualize the future you want and remind yourself why it’s worth the effort.
Conclusion: Your Habits Shape Your Future
My friend,
Success isn’t about being perfect or having all the answers—it’s about the small decisions you make every single day.
The habits and mindsets we’ve explored here aren’t meant to judge you or your past; they’re meant to empower you to take control of your future. Every one of these habits—whether it’s avoiding risks, spending instead of investing, or thinking short-term—can be changed.
And the best part? You don’t have to tackle everything at once. Change starts with one small step.
The truth is, the difference between those who struggle and those who thrive isn’t some unattainable secret. It’s about learning, growing, and choosing habits that align with the life you want to build. It’s about shifting your mindset from “I can’t” to “How can I?” and surrounding yourself with the tools and people who inspire you to keep going.
Here’s my challenge for you: Choose just one habit from this list to work on this week.
Maybe it’s starting a simple budget
Reading a book about personal finance
Or reframing a challenge as an opportunity
Whatever it is, I want you to know that small, consistent efforts add up to big changes over time.
You have the power to rewrite your story. You have the ability to break free from habits that don’t serve you and create a life filled with abundance, growth, and purpose.
Remember, it’s not about where you start—it’s about where you’re headed. And I’m here to remind you every step of the way: You’ve got this!
Because you deserve nothing less!
— Your Advocate for Growth
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