Think Poor, Be Poor. Think Millionaire, Be Millionaire.
It is not a mystery why most people remain poor, or maybe not poor but maybe middle class, for their entire lives.
They want to live the life they see the stars living when they read the popular magazines but they don't earn what the stars earn. They "want it all" but having it all costs money; and since they don't have money they incur debt.
Life is good until the credit card bill, or the statement for the minimum payment for the heloc (home equity line of credit) comes in.
Then milk goes up another 10 cents a gallon, bread goes up 25 cents a loaf and gas goes up another 15 cents a gallon. Suddenly your money doesn't seem to go as far as it used to because your income is now going to pay back debts
Man, life just sucks!
This Is Kind of Thinking Will Keep You Poor Forever
What I just described above is what I call "Homeless Thinking"; your entire thought process is on satisfying your current needs and desires. You want a new car and you spend your time figuring out how to get a new car.
Let me back up just a little, there are 3 types of thinking when it comes to money; I call them "Homeless Thinking", "Don't Rock the Boat Thinking" and "Prosperity Thinking".
In case you think I am being cruel when I talk about "Homeless Thinking" it is a condition with which I am personally familiar. If you don't know my story I'll give you an abridged edition...
My Story, Abridged Edition
My first wife passed away after being in a coma and persistent vegetative state following a burst aneurysm in her cranium behind her right eye. She was in ICU (Intensive Care Unit) for just over nine months before being moved to a different unit in the hospital.
Her medical bills were millions more than we could pay and after she passed away I ended up living in my car until it was towed away; I then lived under a freeway overpass in Tennessee. (We lived in Texas when she became ill.)
I had never lived unemployed with absolutely no money in my pocket; I would pick up pennies from parking lots just to have something.
Here's what a homeless, penniless person thinks about: "Where can I get something to eat?"
There is no future there is only the empty gnawing of hunger in your stomach. Nothing else matters; after a couple of months even the hunger seems to subside as your body begins to deteriorate from lack of nourishment.
Because I had a professional career after I graduated from college and before my wife passed away, I was able to rebound after I came to my senses about 6 months after I had descended into the depths of hell following her death.
It is a place I hope you will never have to experience.
These are the spenders of society.
Homeless thinking is simply focusing on satisfying you current needs and desires without concern for, or maybe even awareness of, the future. You don't even have enough money to satisfy your current needs and desires so thinking about the future is futile.
Your entire thinking is "today" centered; if tomorrow comes you will worry about it then. Next week, next month or next year are mere fantasy. Why should I be concerned about tomorrow when I am trying to make it through today.
This is where those in poverty reside, it where those whose paycheck lasts about 5 days of a 7 day week reside. I need gas to get to work but I only have $12.00 in my checking account.
Please, someone help me!!
Don't Rock the Boat Thinking
These are the savers of society.
The difference between Homeless Thinking and Don't Rock the Boat Thinking is the reality of a future. It may not be a rosy future but it can be survived; so let's put some money aside to make our golden years as nice as possible.
Oh yeah, and let's cover ourselves for unexpected events by putting some money into a quality life insurance product and maybe some disability insurance. Just in case.
Don't Rock the Boat Thinkers actually have a savings account with some money in it, an emergency fund in case the transmission on the car goes out or some other possible but not probable event. They can actually make it from paycheck to paycheck and have a little extra money in their bank account.
This is the largest group of people in America with probably, 60% of the population; they still have to borrow money for the really big purchases, houses and cars, but many in this group can actually afford to take an annual vacation.
People who have Don't Rock the Boat Thinking have a nice life and understand that their income will not support the "Lifestyle of the Rich and Famous" and they are o.k. with that.
This group of people constitutes the foundation of every vibrant economy because they have money for more than just the necessities of life.
Don't Rock the Boat Thinkers don't want to upset the life they have, so taking a risk on trying to increase their income is out of the question.
These are drivers of society.
Prosperity Thinking is what makes a vibrant economy grow because people in this group think in terms of future generations, not just years. Not only is there a future but there is a future that will be populated by generations not yet born.
People in this group understand that saving money is a short-term endeavor while "real" investment options are considered; real investments are all of the things everyone hears about but most never even consider because these are what rich people invest in. Things like precious metals, real estate, foreign exchange, commodities; things average people ignore.
The problem with ignoring "rich people investments" is that people who think like that will never advance in to the that group called rich people.
Prosperity requires stepping beyond your comfort zone, beyond the education you have received and, most likely, beyond what you learned from your family growing up
Consider that fully 80% of current millionaires were not born millionaires, they earned their way into that rarefied group by their thinking. They learned the mindset to think like the super-wealthy until they became the super-wealthy; they remain wealthy because they continue to think wealthy.
Prosperity Thinkers are the entrepreneurs of society; the people who want the "Lifestyle of the Rich and Famous" and are willing to step out and earn the income to afford that lifestyle because they know that borrowing to to acquire a transient benefit is economic suicide. They earn it then they live it; they don't live it and hope they get enough money later to pay for it.
You Can Join the Prosperity Thinkers
Joining the Prosperity Thinkers requires a change in thinking; the way to change your thinking is to read what the rich read so you can begin to think as the rich think.