The rich buys wealth while the poor buys liability

[eightdots]

The mistake most people make in this life is that they think giving yourself some level of comfort is luxury. I don't really think that buying your self a good TV or getting yourself a car is all waste of money. Get these things if you can afford them. What I don't like is spending money recklessly on clubbing and women. There some businesses that you will be into that will require to own a car if you want to be considered for bigger briefs. There are some contract bidding you will go for, some client will prefer to give the job to someone who pull up in a car than some one who don't own a car. Some people we think they just got a car for flexing may not actually be the reason they got the car. Some got the car to give their business an edge over their competitors.

If you have goals and you need to control your spending to achieve them, you should avoid reckless spending. As you said, there is nothing wrong with buying the things you need to buy to live your life in better conditions, because people want to improve their environment and living conditions.

As in the example of a car, the advantage of living in good conditions is great in some businesses. The appearance can be a great advantage for businesses and businesses to achieve what they want to achieve.

[Oluwa-btc]

Rich mindsets and financial behaviors is something that differs between the rich and the poor,and Its majorly about the mind and the financial habits.
A lot of these caliber chase looking successful other than building wealth that'll survive for long term needs.Having the right mindset with the right knowledge is heavily recommended.

[Cryptoprincess101]

It doesn't matter who buys assets and who buys liability, what is important is not to lavish your money and become broke. There are many poor people with rich mentality in the sense that if they are given a huge amount of money, they can turn it to generational wealth with the level of IQ they have. There are also rich people that are not able to manage their wealth properly just because they lack financial wisdom on how to apply their money in the right investments. There is also no harm is buying a liability that gives you fun and comfort so far as you can be able to own some assets that can cover up for the liabilities you have. You cannot have money and only think about moving from one investment to the other without at least enjoying the money you have made on few luxurious things that can make you feel good and blessed.
    You said the poor buys liability so where do they even get the money to afford those liabilities if they are truly poor as you said. It is only those who misuse opportunities to get rich that can be tagged as those who buys liabilities. Even talking about liabilities, it is even the rich that buys more liabilities than the poor because when you check how most of them live their lives you will see that they bought so many unproductive things that they do not need just because they want to show off their wealth and as they also makes more investment on assets, that is how they also buy more liability because they feel they have enough money.

[Odusko]

This is very correct, and this rich fork's investment mentality is what keep the rich and the poor luxury and liability spending is what keep them poor all the time, because whatever that comes to them, they will have to spend it to service the liability in form of Bill's, instead spending Money on investment and assets they will rather spend that money on things that make no income for them.
Whatever you hard that is not generating income and profits, it will definitely take Money away from your pocket and for that we should be well informed if we want to remain financially stable and on top.

[slapper]

It doesn't matter who buys assets and who buys liability, what is important is not to lavish your money and become broke. There are many poor people with rich mentality in the sense that if they are given a huge amount of money, they can turn it to generational wealth with the level of IQ they have. There are also rich people that are not able to manage their wealth properly just because they lack financial wisdom on how to apply their money in the right investments. There is also no harm is buying a liability that gives you fun and comfort so far as you can be able to own some assets that can cover up for the liabilities you have. You cannot have money and only think about moving from one investment to the other without at least enjoying the money you have made on few luxurious things that can make you feel good and blessed.
    You said the poor buys liability so where do they even get the money to afford those liabilities if they are truly poor as you said. It is only those who misuse opportunities to get rich that can be tagged as those who buys liabilities. Even talking about liabilities, it is even the rich that buys more liabilities than the poor because when you check how most of them live their lives you will see that they bought so many unproductive things that they do not need just because they want to show off their wealth and as they also makes more investment on assets, that is how they also buy more liability because they feel they have enough money.

Liabilities can be fun, and sometimes fun is the only ROI worth chasing. There is no way to put a price on being able to sleep at night or laugh on a Saturday. One of the most dangerous things you can do is live a life that is so focused on growing your assets that you forget what makes life worth living. But liabilities are relative. For a billionaire, a third property is nothing. For a single parent, one emergency may lead to tragedy. It is the buffer behind the thing, not the thing itself. Most economic arguments stop here. They don't realize that privilege gives you space to make errors and the chance to learn from them

Everyone loves to say who "deserves" what. It's for show. People say that a poor person who buys new sneakers is wasting money. When a wealthy person buys a yacht, it means they've done well. The moral math never works out. Why pretend otherwise? In the end, maybe the best thing to do isn't to maximize your assets or avoid your debts. It's making a life that can handle mistakes, bounce back from setbacks, and find some purpose in the chaos

[HOPE25]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

The rich and the poor are not only different in their financial aspects but also in their mentality and lifestyle. A rich person's needs are how to become more wealthy from some money, while a poor person's needs are only for luxuries, small to large furniture or houses that are not available, which although they provide temporary comfort, cannot sustain long-term happiness. On the other hand, a rich person always thinks about how to earn more money by investing the money he has in long-term assets.

[Metalbest]

Yeah mentality certainly plays a significant part. It’s not just about how much money you have but what you do with it. Some people get lucky with money but without the appropriate habits or mindset it merely slips through their fingers. Meanwhile, those who start with very little but plan long term and focus on developing value steadily construct something permanent, It’s not always simple but adjusting the way you see money and taking sensible chances can dramatically change your future

[lizarder]

Yeah mentality certainly plays a significant part. It’s not just about how much money you have but what you do with it. Some people get lucky with money but without the appropriate habits or mindset it merely slips through their fingers. Meanwhile, those who start with very little but plan long term and focus on developing value steadily construct something permanent, It’s not always simple but adjusting the way you see money and taking sensible chances can dramatically change your future

It's obviously how much money we have because it's impossible for someone to achieve wealth if they don't have the capital to develop. Nowadays to achieve wealth must involve money as a step to start and that's why the rich are getting richer in the current economic conditions. For example, look at how many people have to close the businesses they run because they are unable to compete and this is influenced by small capital.

Building something that is planned for the long term can indeed bring someone to achieve wealth, but it takes a plan and strategy because it is currently difficult to develop in the business sector, unless this is applied in bitcoin investment.

[uneng]

At some point in human history, everyone was at the same or very similar standards. Some thrived, while others didn't, what allowed that some humans stand out among the others, who became their followers, commanded, until reaching the first organized concepts of society in ancient times.

On those times, brutal force, toughness played a big role, possibly so important or more important than mental skills and intelligence. However, as society left feudalism and the bourgeoises appeared, capitalism got stronger and mindset has become a decisive tool towards financial ascension and progress.

But, why some people still didn't develop, even though they also had access to the same tools? Exactly due to mindset. In a parallel to nowadays, let's say there are two poor individuals. One of them uses all his income to purchase clothes, accessories, gadgets and addictions. Meanwhile, the other draws a long term financial plan and destinate his income to funding that plan through investments.

Both had the same origins, but the mindset was the differential. While the first man is unlikely to see any financial progress along his lifetime, the second can at least reach a more comfortable and satisfactory status, and in case he can pass this mindset through his heirs, the fruits can be gathered along the future generations as well. That is how wealthy is built by some families. It has to be a continuous cycle maintened by each new generation of heirs through dedication, hard work and innovation.

[Uruhara]

Rich mindsets and financial behaviors is something that differs between the rich and the poor,and Its majorly about the mind and the financial habits.
A lot of these caliber chase looking successful other than building wealth that'll survive for long term needs.Having the right mindset with the right knowledge is heavily recommended.

In this case, it is quite clear that there is a difference in the mindset of rich people and people who are not rich. And one of the differences is that rich people really focus on building themselves and also building strong finances for themselves. Rich people don't really like interfering in other people's affairs. they only interfere in matters that can bring them benefits. And they are broad-minded people. They can sometimes even turn a problem that many ordinary people complain about into an opportunity to earn a lot of money.

All of this is thanks to their mindset which is always more positive. Very different from some people who are not rich who prefer to complain rather than discuss solutions. And people who are not rich sometimes talk more than they act. And many other things. And yes, again, everything can start from your mindset.

[bangjoe]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Interesting thought, I admit this is true and has been proven in low-income communities, a very significant difference here is the mindset so that what is desired is different, as you said, someone who has a poor mentality will want something that can satisfy him in a consumptive form while people who have a rich mindset will think about getting more money from the money they currently have.

And because of this, the rich are getting richer and the poor are getting poorer, it is not caused by anything but because of themselves in implementing the money they get from their work, (if not becoming rich, at least becoming someone who is not too worried about finances to live a decent life).

The mindset has always been the problem for people who are poor, even when they get the opportunity to rise above their financial level. Becoming rich starts with the development of the mindset, because one needs to be productive in thinking. If this mindset is not present, no matter the amount of money given to someone who is poor, it will be squandered on unnecessary things. Becoming rich comes from the mind and how to create revenue from money.

If in the past we might have blamed our families and the environment for lack of information to gain knowledge and financial literacy so that poverty might not be easily changed because the mindset is not honed, but if that happens today, where at this time information is very open, it is necessary to question what keeps them poor.

[Woodie]

The Rich buy wealth while the poor buy liability, I think this is easy to say tbh!
Here is the thing, some rich people have risen the ranks from rugs to riches because they worked hard to have a comfortable life and work even harder to avoid going back... Then there is inherited wealth which is passed on from one generation to another, so for some the foundation has already been put and its all about going the wealth you found.

And also when your name speaks for its self as a wealthy person your risk factor is low and you can access finances which makes it easy to venture into all kinds of businesses, while for the other side of the coin credit score and how much one can access is limited which means more liabilities on your table to get the needed resources.

[Cryptmuster]

It's obviously how much money we have because it's impossible for someone to achieve wealth if they don't have the capital to develop. Nowadays to achieve wealth must involve money as a step to start and that's why the rich are getting richer in the current economic conditions. For example, look at how many people have to close the businesses they run because they are unable to compete and this is influenced by small capital.

Building something that is planned for the long term can indeed bring someone to achieve wealth, but it takes a plan and strategy because it is currently difficult to develop in the business sector, unless this is applied in bitcoin investment.

Money does not simply fall from the sky. In order to build capital and achieve wealth, you have to go through a long path. Most people who have money understand how to earn it and how to manage it. When wealthy people make money, they direct it further so it can work for them, creating assets. Poor people, however, usually think differently.

If you spend everything you earn, you will never be able to move from the place where you are now. And if you try to save something from just one salary, that is also a dead end because maybe someday you will achieve something by old age, but at that age you might no longer want to spend that money the way you could have when you were young.

[Oluwa-btc]

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

That's the clear difference between the poor and the rich mindset, sometimes I use to wonder why the think that way little achievement or success they show it off and it doesn't stay longer before the wealth diminishes but it takes just 2% to be wise enough to make use of the money they've gotten. And that's a more reason the rich will always be different and top tier ahead of the poor cause they know what exactly and plan how to spend their profits or money gotten..

[shield132]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

Poor people are usually poor for generations. Their mother and father were poor, their parents' parents were poor and etc. I grew up in such an environment and my parents were always telling me to keep cash, especially US dollars. When I had Bitcoins, I was a kid and they were telling me that it's scam, I should sell them immediately and hold US dollars. Till this day I can't convince my parents that you shouldn't hold US dollar and you should invest into things like stocks and crypto if you want to beat inflation and increase your wealth. I'm trying everything alone on my own to become wealthy. I fully understand why the majority of poor people never become rich. Parents tell their kids to study well to get a job, they never tell their kids to think about starting a business, they grow up workers, not creative, open-minded people.

[tottong]

That's the clear difference between the poor and the rich mindset, sometimes I use to wonder why the think that way little achievement or success they show it off and it doesn't stay longer before the wealth diminishes but it takes just 2% to be wise enough to make use of the money they've gotten. And that's a more reason the rich will always be different and top tier ahead of the poor cause they know what exactly and plan how to spend their profits or money gotten..

Mindset can determine a person's steps to achieve success and with that mindset people can start determining steps to achieve success based on the preparations they make
Rich people always have the motivation to turn money into more and they know the strategy that needs to be done by utilizing certain steps and when they know the way then it will be much easier to do.
Having capital, experience and special strategies will make them richer because they know the way.

But sometimes poor people have a good mindset, but there is no support in terms of capital so they are unable to move.
This is different from the mindset of most poor people who do not want to take risks because they prefer to live without problems and never want to consider doing something big to achieve success.

[lizarder]

Money does not simply fall from the sky. In order to build capital and achieve wealth, you have to go through a long path. Most people who have money understand how to earn it and how to manage it. When wealthy people make money, they direct it further so it can work for them, creating assets. Poor people, however, usually think differently.

Of course you said something right because it is not easy to achieve wealth if someone does not have enough capital support and even to make big plans without money, everything will fall apart because it cannot be realized. Rich people have a good money management structure so that it is much easier for them to manage finances to be bigger and they also know how to put money into something much more productive for greater retrieval.

If you spend everything you earn, you will never be able to move from the place where you are now. And if you try to save something from just one salary, that is also a dead end because maybe someday you will achieve something by old age, but at that age you might no longer want to spend that money the way you could have when you were young.

But there is no need to be pessimistic because everyone has a different path and it depends on how to realize it to achieve a better life. If we realize that now our position is unstable in making money, then the steps that need to be taken are implementing investment or business patterns because if it is carried out consistently, I am sure all of us can achieve success.

Sooner or later we will get a different portion in terms of achieving wealth and generally this depends on how we start preparing at a young age so that when we enter old age we can live much more peacefully by enjoying the results of our work at a young age.

[mirakal]

If only poor people adopts a rich mentality, then there’s only less of these poor individuals are struggling in their finances now. But we all know it’s only rare of these poor having that kind of mindset, otherwise we will be seeing a lot of rich people all over the world.

However, I learned to understand why these poor people prioritize liability first, because I also belong in the poor class in our society. But when I started seeing the secret of rich people, I shifted my priorities and eventually adopt the rich mentality in order to build a bright and rich future ahead.

[Z_MBFM]

If you ask what the difference is between the rich and poor, the overwhelming response will be MONEY, this is true but it goes deeper, a major factor is also their mindsets. The rich creates wealth but the poor doesn't, most poor people don't think outside their comfort zones. Rich people invests their money and from the profits they can buy whatever they desire but the poor buys liabilities that depreciates. Rich people builds wealth and it continues to generate money for them, they keep reinvesting and diversifying their income to generate more wealth. But if you give most poor people huge amounts of money, instead of investing it in a profitable investment like Bitcoin they will use the money to buy material things that they have been dreaming of like a car or buying that room size TV that they have been dreaming to own.

If a poor person that has a poor mentality suddenly owns a lot of money maybe through inheritance or hitting the jackpot, they will misuse the money. But if a poor person that has a rich mentality suddenly owns a lot of money they will diligently research and invest the money in a profitable business or investment. From their profits they can gradually afford to buy the things that they've always dreamed of and their assets will be yielding more profits. To become rich you need to think like the rich even you're not there yet, many rich people where not born rich, they were value driven.

The rich have enough financial backup due to which they can easily invest in various assets and from that investment they can profit more and become more wealthy. But the poor do not get financial backup so they only think about meeting their daily expenses. Due to which they work very hard for others but in return they get remuneration which can only barely meet their daily expenses.

However, those who can manage their lives a little differently and start buying assets for the future instead of just thinking about the present become much wealthier over time. Again, a lot depends on luck, and many poor people can do a lot of good things because of their good luck. However, most poor people always remain poor because they have very little critical thinking, and the rich always remain rich because they can increase their assets to a greater extent.

[Mate2237]

The difference between the poor and the rich is in the mentality the view of the poor and that of the rich is the difference because while the rich is more concerned about increasing their wealth by investing or doing things that will lead to their wealth being increased so that they can become more richer the poor is not concerned about that to the poor it's about enjoying life and getting the good things out of life that is why they prioritize buying expensive things.



I think that the main reason why the the poor will continue to get poorer and the rich will continue to get richer is in the kind of things that they prioritize the poor doesn't think of economic sustainability and progress which is the reason why they will continue to remain poor