Monday Money Message (3M) #4:
Don't be offended by the title. The title is NOT referring to one class being better than the other. It refers to the differences in the thought patterns and literacy about financial resources. I was NOT raised with financial literacy. In fact, most family trees just tend to repeat itself until someone chooses to breaks the mold.
Distinction #10: millionaires think long term, and the middle class thinks short-term: society can be broken down into five groups of people: the very poor, poor, middle-class, Rich, and very rich. Each group of people think differently about money. Very poor people think day to day. Poor people think week to week. Middle-class month to month. Rich people think year-to-year. And very rich people think decade to decade.
There are three primary goals that can be found in the mind-sets of these five social groups. The primary goal for very poor and poor people is survival. The primary goal for the middle-class people is comfort. And the primary goal for the rich and very rich is freedom. The reason that very poor and poor people seek to survive and the middle class seek to be comfortable is because they have a scarcity mentality. What you believe about money has everything to do with the amount you accumulate.
Stay tuned for the other 9 distinctions. #knowledgeispower #thinkdifferent #beabundant #giveandlive #livewithoutoffense #breakthemold #embracechange