Did you know that one of the most critical aspect of becoming financially free is to develop the right mindset?

Rich vs poor mindset people think completely different when it comes to money, generating wealth and identifying opportunities.

So if you want to become financially free, a good place to start would be to start with your mindset.

It will not make you rich but it will guide you to the right direction.

1. Who is controlling your life?

The thing is, life happens to all of us.

If you want to be wealth, then you need to take control of the steering wheel of your life, especially financially.

If you don’t think this way, most likely you have little to no control of your life which also means that you have little or no control of your financial success.

A poor mentality means acting as a victim instead of taking the blame or responsibility on what is happening. A victim always thinks “poor me.”

Becoming accountable for your future set you in the path of creating a better meaningful life.

2. Do you save first and then spend or vice versa?

I am always surprised when people take a loan to go on vacation while they have so much debt already. Or spending money on fancy cloths, jewelry and any other luxury item when they cannot afford it.

A rich mindset will first set money aside for reducing debt or invest to increase his net worth.

But a person with poor mentality will spend first and IF he has any money left at the end of the month then he will save the rest (hopefully).

I see this all around me. People complain on not having money and then go and buy a brand-new TV just because they could not stop their impulsive buying.

3. Rich people focus on opportunities vs focusing on the problems

Do you see the glass half full or half empty?

I see opportunity all around me. All the time.

I started this blog because I know there is an opportunity in running an online business. I do not care that I not an expert on search engine optimization yet or that I lack some technical skills.


Because I will do whatever it takes to learn and become successful. As simple as it that.

A poor mentality is to tell you all the reasons it cannot be done, or that it is way too hard or that they have no time because they have small kids or whatever may be the reason.

4. Rich people value education more than entertainment, while poor people value entertainment more than education

If I need to calculate how much money I spend on formal and non-formal education that helped me to get where I am today, that would about for over $100,000 and probably way more of you include travel.

Education is probably the most important key factor to becoming wealth.

Rich mindset understands that you can never know everything vs Poor mindset believing that they know about everything.

Rich people value education so much that they spend most of their money educating themselves and the team they work with.

Ask a person with a poor mentality when was the last time they read a good book about self-improvement, financial education, or take on an investment class.

Here is my recommendation for the Best Books for Starting a Business.

5. Rich people play the money game to win – poor people try not to lose money

Especially these days, you can see how the above statement is taking form.

Do you have money invested in stocks? What did not people do when the market when of free fall just about 2 months? Did you sell your precious stocks out of fear of losing it all?

Personally, when the markets sank, I went to buy more stocks. My stock account in now worth way more than it was before the coronavirus breakout.

6. Do you focus on what you want and how to achieve it or on what you DON’T want

This is a tricky one and I find myself fall into the trap of thinking what I do not want.

Our mind is powerful. It attracts into our lives, the things we focus on.

Focusing on what you don’t want, attract the wrong things into your life. Instead of saying “I don’t want to work 9-5 any more”, say “I want to be financially free and have my own online business to generate my income”.

Now the question remaining of how do I get there is an easier question because I already know what I want.

7. Rich people believe in themselves vs poor mindset that thinks success is beyond their reach

Having believe in yourself is something that doesn’t come naturally to many people. They tend to remember the failure and think that they are just not good enough to really make it big.

They way I look at it and tackle this mindset is by looking at success stories. I keep saying to myself that if they can make it, so can I.

I see example of people in their 50s and 60s succeeding with no previous experience.

When I see that, as I am a logical person, I keep saying to myself, this is more than possible for me.

So instead of thinking that you cannot succeed, just go online, read stories in Forbes or any other place on inspiring success stories of people who has started from nothing and slowly made it.

8. How comfortable do you feel about money?

Rich people are managing their money and monitor it consistently vs poor mindset that either mismanage it or just avoid dealing with the topic.

If you want to become wealthy and financially free you need to have an intimate relationship with your money.

You need to budget it and set financial goals. Yes, even if you are starting from the very bottom or have huge debt to pay off. Take the first step and take it slowly but manage your money.

9. Rich people are working to be rich vs poor people that just want to be rich

This is a good one!

And it is important to understand the difference.

Do you want to become rich? Do something about it.

Wake up earlier or stay up late and set up an actionable plan to get there. Once you have a plan, get to work and do what needs to be done.

Wanting to be rich is not enough’ this is what most people want.

But not many people are willing to put in the extra hours and to work to get there.

On a personal level, I have 3 small kids and sometimes I work on the weekend for a few hours here and there while they spend time with their dad or grandmothers. I need to make that sacrifice now to rip the success later and enjoy time freedom.

10. Rich people are patient and know that success will come vs a poor mindset that quits once faced with a loss

Patience is a key trait.

Almost life in the stock market example. Be patient and know that the market will adapt and gain momentum again. Don’t sell just because you fear to lose it all.

I follow Warren Buffet investing style which is buy and hold for a good few years. I do not really look into my stock around more than once a month.

But also in anything else, like this blog, I keep writing and keep optimizing my work, expend into new ways of generating income online.

I know it takes time. I am patient and I believe it will happen with time.

11. Don’t you always have something else to do? Rich people don’t delay to tomorrow what can be completed today

Another tricky one for me personally.

I become more of a procrastinator in the last few years, I believe it happened when my twins were born and the lack of sleep just affected every area of my life.

However, I am aware of that. I know I make myself excuses for not doing something important.

So, I actively sit down every morning and write down what I want to accomplish today, It helps me with not wasting time of things that bring no value.

12. Wealthy people focus on their net worth. Poor people focus on their working income

Do you know your net worth?

I know sure you know how much money you make every month? And probably focus on getting a raise? This is good and ok.

But do you really know your net worth? Your focus should be on increasing it and decreasing your debt and from there start thinking on creating ways to keep increasing your net worth. Remember, what you focus on expends 😉

Also remember that you can get fired any moment – make sure you have a backup plan.

13. Wealthy people act even when they are afraid vs Poor that let fear stop them

There are so many things we are afraid of. A poor mindset vs rich one will stop in the face of fear. Meaning, the fear will prevent them from moving forward and taking a leap.

A rich mindset, acknowledge the fear, but will do it anyway.

So for example, I was once offered to speak in front of 400 business owners, and I was so scared that I almost passed on the opportunity.

But then I just say “Yes” even though I was shaking inside.

I did it and it was great. Yes, my hand were shacking and my heart went on full speed at the beginning, but I did it.

Since overcoming my fear of public speaking, I actually realized I enjoy it.

So take the leap and believe in yourself.

14. The rich build assets and reduce liabilities – poor rely on their job for money

I think these days more people understand they cannot rely on their job for money. You can get laid off any minute, Even if you’ve put your heart and soul into your job.

Luckily, I understood this concept of building assets while back. There is no job security – it is all fake.

Most of us, that are working 9-5, are like a rat on the wheel thinking that if we just try harder we’ll get a promotion, a raise or anything like that.

At the end of the day, if your employer struggles like many of them do today, they will let you do.

Focus on business assets and diversify them. Don’t put all your egg in one basket. An asset can be a blog, a real estate, you get the idea.

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15. Rich want to build relationships with Like-Minded people vs Self-Centered ones

I think this one is so important and it is slightly underestimated.

Want to become financially free? Talk to people who have done it successfully and the emphasis is on SUCCESSFULLY.

There are many people who will tell you what to do or not do. But you actually want to learn from those who have made it.

Expend your network with people, like-minded, who achieve what you want to achieve. Learn from them and become that person to other people.

A poor mentality is being so self-centered, talking about yourself and your problems, taking advice from, people with no credibility in the field and just people who find negativity in everything.

Get away from these people if you want to success.

Keep those that have faith in you, encourage you and be there for you if things get tough.

They will not be secretly happy if you fail.


Invest in yourself and believe in yourself that this is possible for you as well. Start looking at the world through different set of glasses. Preferably a pink one.

Leave below your means and focus on increasing your net worth.

Here is a really great article on the rich vs poor mindset that I really loved.