Comments on: Rich or Poor? Sometimes It’s All in Your Head http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/ personal finance that makes cents Thu, 20 Nov 2008 11:09:59 +0000 http://wordpress.org/?v=2.5.1 By: John http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-138370 John Mon, 30 Jun 2008 05:04:42 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-138370 RICH is a state of mind. Take for instance the saying: Happiness is more important than money. This is an adage created by poor people to help other poor people feel good about themselves. This adage is just like asking: which is more important? Your leg or your arm? THEY ARE BOTH IMPORTANT! Another example is both people in the same financial situation. Somebody who thinks poor will say: We can't afford this. Somebody who has a rich mentality regardless of current financial difficulties will say: I'll find a way to afford this. It's all mindset. We were all taught that living comfortably is good enough. Any more than that would be greed. That's why some people have a deep seeded guilt when making money over their comfort level. Is Warren Buffet greedy? He donated his WHOLE fortune. He chose to do good with his money, and I'm sure all that money will help VERY many people. Is that greed? Is that evil? It's all what we have been pre-programmed to think since we were young. Go out, get a job. Great advice! 90% of your earnings come from 1 job. What happens when you lose that 1 job? I'll tell you what... It's over for you. As opposed to rich people with multiple streams of income and multiple safety nets. They own their own businesses (other people trading their time for pay, while making you wealthy as the business owner - it's called leverage), properties, investments, passive income, etc... They lose one stream, they still have backup. RICH is a state of mind. Take for instance the saying: Happiness is more important than money. This is an adage created by poor people to help other poor people feel good about themselves. This adage is just like asking: which is more important? Your leg or your arm? THEY ARE BOTH IMPORTANT! Another example is both people in the same financial situation. Somebody who thinks poor will say: We can’t afford this. Somebody who has a rich mentality regardless of current financial difficulties will say: I’ll find a way to afford this. It’s all mindset. We were all taught that living comfortably is good enough. Any more than that would be greed. That’s why some people have a deep seeded guilt when making money over their comfort level. Is Warren Buffet greedy? He donated his WHOLE fortune. He chose to do good with his money, and I’m sure all that money will help VERY many people. Is that greed? Is that evil? It’s all what we have been pre-programmed to think since we were young. Go out, get a job. Great advice! 90% of your earnings come from 1 job. What happens when you lose that 1 job? I’ll tell you what… It’s over for you. As opposed to rich people with multiple streams of income and multiple safety nets. They own their own businesses (other people trading their time for pay, while making you wealthy as the business owner - it’s called leverage), properties, investments, passive income, etc… They lose one stream, they still have backup.

]]> By: Lily http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-112343 Lily Tue, 15 Jan 2008 22:23:12 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-112343 In Italy young (and not so young) people live on €1000 per month, or even less. They feel poor, and actually they struggle to get by, while prices go up, up... In Italy young (and not so young) people live on €1000 per month, or even less. They feel poor, and actually they struggle to get by, while prices go up, up…

]]> By: $$$ Money - Get It, Save It, Spend It » Blog Archive » Online Resources http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-70485 $$$ Money - Get It, Save It, Spend It » Blog Archive » Online Resources Sat, 10 Feb 2007 01:20:54 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-70485 [...] Rich or Poor? Sometimes It’s All in Your Head [...] [...] Rich or Poor? Sometimes It’s All in Your Head [...]

]]> By: My Simpler Life » Are you rich? http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-63464 My Simpler Life » Are you rich? Sun, 04 Feb 2007 03:00:59 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-63464 [...] Rich or Poor? Sometimes Its All In Your Head  [...] [...] Rich or Poor? Sometimes Its All In Your Head  [...]

]]> By: drdrewfus.com http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60955 drdrewfus.com Thu, 01 Feb 2007 22:37:04 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60955 [...] Get Rich Slowly » Rich or Poor? Sometimes It’s All in Your Head No comments [...] [...] Get Rich Slowly » Rich or Poor? Sometimes It’s All in Your Head No comments [...]

]]> By: lepton http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60925 lepton Thu, 01 Feb 2007 21:51:58 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60925 Yes, trying to get clients for a web design business is tough. And some of them won't end up paying you which really throws a rod in the ole' morale engine. Yes, trying to get clients for a web design business is tough. And some of them won’t end up paying you which really throws a rod in the ole’ morale engine.

]]> By: Amber http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60741 Amber Thu, 01 Feb 2007 17:11:01 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60741 John- You're a rare employer. Most groups believe that with a low end Photo Editing program and FrontPage they are equipped to create masterpieces of print and web design. They greatly resist paying much of anything for outside help as well. I did start a business, it was not fiscally responsible at the time. It's very difficult to chase down leads when you are working three other jobs to pay the bills. Starting a business, while a good suggestion for some people, is a deceptive bit of advice to give someone who is in desperate straits. You need savings to live off of, captial to create a company, outlay of time to find clients, access to a lawyer (or at least a really good contracts program), and on and on. Starting a business is not an alternate to the McJobs of the world. John-

You’re a rare employer. Most groups believe that with a low end Photo Editing program and FrontPage they are equipped to create masterpieces of print and web design. They greatly resist paying much of anything for outside help as well.

I did start a business, it was not fiscally responsible at the time. It’s very difficult to chase down leads when you are working three other jobs to pay the bills.

Starting a business, while a good suggestion for some people, is a deceptive bit of advice to give someone who is in desperate straits. You need savings to live off of, captial to create a company, outlay of time to find clients, access to a lawyer (or at least a really good contracts program), and on and on. Starting a business is not an alternate to the McJobs of the world.

]]> By: Emily H. http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60447 Emily H. Thu, 01 Feb 2007 12:13:24 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60447 'It's in your head' is something that we tell ourselves to get out of any responsibility to help the poor. The difference between 'broke' and 'poor'-- the difference between hope and hopelessness--depends on a lot of things. Is it a temporary situation with a light at the end of the tunnel (say, graduation?) Do you have the cultural capital necessary to get hired in a good job? Do you have a solid support network in case of extreme emergencies? $6.50 an hour is not a living wage. If you can manage to live on that, that's very admirable, but we can't base public policy on that any more than we can base public policy on everyone being able to run a marathon or read Chinese fluently. ‘It’s in your head’ is something that we tell ourselves to get out of any responsibility to help the poor.

The difference between ‘broke’ and ‘poor’– the difference between hope and hopelessness–depends on a lot of things. Is it a temporary situation with a light at the end of the tunnel (say, graduation?) Do you have the cultural capital necessary to get hired in a good job? Do you have a solid support network in case of extreme emergencies?

$6.50 an hour is not a living wage. If you can manage to live on that, that’s very admirable, but we can’t base public policy on that any more than we can base public policy on everyone being able to run a marathon or read Chinese fluently.

]]> By: Grigor http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60334 Grigor Thu, 01 Feb 2007 09:36:19 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60334 As they say, you are not rich if you have more but if you need less. It is in your head indeed. However, that doesn't mean that there are no really poor people. There's big difference if you can't buy food and if you can't but a second car. Also, thinking that we have enough money shouldn't prevent us to ask to be paid correctly. Our sense of wealthiness can't make us happy if it's not at the same time accompanied with sense of justice. As they say, you are not rich if you have more but if you need less. It is in your head indeed. However, that doesn’t mean that there are no really poor people. There’s big difference if you can’t buy food and if you can’t but a second car.
Also, thinking that we have enough money shouldn’t prevent us to ask to be paid correctly. Our sense of wealthiness can’t make us happy if it’s not at the same time accompanied with sense of justice.

]]> By: John http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60330 John Thu, 01 Feb 2007 09:26:05 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60330 Amber, You should start a business. There are two possibilities: 1. Create graphics for Internet companies. (I routinely pay a graphics person $97 for an hour worth of work whenever I need something done for my own sites.) 2. Get into painting, and create works that appeal to art collectors. Good luck, John Amber,

You should start a business. There are two possibilities:
1. Create graphics for Internet companies. (I routinely pay a graphics person $97 for an hour worth of work whenever I need something done for my own sites.)
2. Get into painting, and create works that appeal to art collectors.

Good luck,
John

]]> By: Amber http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60040 Amber Thu, 01 Feb 2007 04:34:20 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-60040 I think part of the story to consider is that this woman is a student. She is working to better her life. It's easy to stay positive when you know you have a finish line that you are shooting for. It's much harder to stay positive if you are looking at living this way forever. The current economy for the last four years is not forgiving to graphics and art people. I graduated at the beginning of the recession- my husband and I both in fields where an entry level job suddenly required five years experience. So we waited tables, worked retail, cleaned cesspits of apartments to ready them for the next tenant, did yard work for people, and as much freelance web design as we could find (which wasn't a lot, damn FrontPage Express). We had degrees, and by society's standards, should have been making roughly 30k each. Instead, we were being mentally and emotionally abused by the managers at our different jobs, who delighted in making themselves feel better about their lot in life by making their peons miserable. They feel secure in this tack because the people they are the most horrific to are the ones they know can't afford to quit without finding another job, or three, depending on the tips one is making. While we managed to do fairly well for ourselves, we have nearly 30k in debt from those three years. We've since found jobs as the market is slowly rebounding, and are trying very hard to pay down our debt. While it is admirable to find it in yourself to be happy in your lot, it is extremely difficult to stay happy when your bosses are, in fact, treating you like the scum they believe you to be. Anyone can put up with that for two or four years while the end is in sight, but to put up with that forever... that's asking a whole lot. I think part of the story to consider is that this woman is a student. She is working to better her life. It’s easy to stay positive when you know you have a finish line that you are shooting for. It’s much harder to stay positive if you are looking at living this way forever.

The current economy for the last four years is not forgiving to graphics and art people. I graduated at the beginning of the recession- my husband and I both in fields where an entry level job suddenly required five years experience. So we waited tables, worked retail, cleaned cesspits of apartments to ready them for the next tenant, did yard work for people, and as much freelance web design as we could find (which wasn’t a lot, damn FrontPage Express).

We had degrees, and by society’s standards, should have been making roughly 30k each. Instead, we were being mentally and emotionally abused by the managers at our different jobs, who delighted in making themselves feel better about their lot in life by making their peons miserable. They feel secure in this tack because the people they are the most horrific to are the ones they know can’t afford to quit without finding another job, or three, depending on the tips one is making.

While we managed to do fairly well for ourselves, we have nearly 30k in debt from those three years. We’ve since found jobs as the market is slowly rebounding, and are trying very hard to pay down our debt.

While it is admirable to find it in yourself to be happy in your lot, it is extremely difficult to stay happy when your bosses are, in fact, treating you like the scum they believe you to be. Anyone can put up with that for two or four years while the end is in sight, but to put up with that forever… that’s asking a whole lot.

]]> By: Bobby http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59677 Bobby Wed, 31 Jan 2007 22:30:56 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59677 Wow, what an inspiration to everyone. I really like "Enough is as good as a feast" and it is so true. Wow, what an inspiration to everyone. I really like “Enough is as good as a feast” and it is so true.

]]> By: joshuat http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59583 joshuat Wed, 31 Jan 2007 21:17:48 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59583 Dave Ramsey talks about this in one of his financial peace university lessons. He quotes someone else saying, "I've never been poor, poor is a state of mind. I've only been broke." Or similar. My apologies to whoever if I botched the quote, going from memory. Dave Ramsey talks about this in one of his financial peace university lessons. He quotes someone else saying, “I’ve never been poor, poor is a state of mind. I’ve only been broke.”

Or similar. My apologies to whoever if I botched the quote, going from memory.

]]> By: 3 Things About Money http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59532 3 Things About Money Wed, 31 Jan 2007 20:42:18 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59532 Yes, it is all in your head. I make great money but it all "disappears" every month as I aggressively pay down debt. I am looking forward to feeling rich when the debt is gone and the lessons I am learning now will stand me in good stead. Yes, it is all in your head. I make great money but it all “disappears” every month as I aggressively pay down debt. I am looking forward to feeling rich when the debt is gone and the lessons I am learning now will stand me in good stead.

]]> By: Donna http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59525 Donna Wed, 31 Jan 2007 20:36:25 +0000 http://www.getrichslowly.org/blog/2007/01/31/rich-or-poor-sometimes-its-all-in-your-head/#comment-59525 I agree it's mostly in your head. My husband and I make pretty good incomes but because of our debt that makes me "have to work" we find ourselves with little disposable income. This will make me feel poor until I look at those who are unable to work or the elderly trapped on a fixed income and I realize how lucky I am and that we have a chance of turning our finances around. Growing up I was technically poor in a rural Appalachian region BUT I never, ever felt that way because my widowed mother who grew up during the Depression was the most amazing money-managing person I ever knew. Of course I didn't learn that until much later in life. I agree it’s mostly in your head. My husband and I make pretty good incomes but because of our debt that makes me “have to work” we find ourselves with little disposable income. This will make me feel poor until I look at those who are unable to work or the elderly trapped on a fixed income and I realize how lucky I am and that we have a chance of turning our finances around. Growing up I was technically poor in a rural Appalachian region BUT I never, ever felt that way because my widowed mother who grew up during the Depression was the most amazing money-managing person I ever knew. Of course I didn’t learn that until much later in life.

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