BROKE VS POOR
BROKE VS POORarticle by Rennie Gabriel
You may have heard this before because there are plenty of great speakers who cover this topic; there is a difference between being broke and being poor.
Being poor is a state of mind, and I often speak about the mindset and attitude of the wealthy. When you operate from a poor person’s mindset you are either living in poverty or operating with a poverty mindset. You can’t raise money by selling your car because either you don’t have one, or you are living in it. You can’t get a raise at work because you are doing work that pays the minimum wage, and you may already have two jobs just to get by. From a poor person’s mindset, you look at the future and only see more of the same.
Being broke is completely different. Being broke means you don’t have enough money for something when you want it. Maybe you don’t have the money for concert tickets or you can’t go out to eat at a restaurant this week. Being broke can be, and should be, a temporary situation if you have the right mindset.
In my heart, I knew my situation was not permanent, even if I did not know what I needed to do to change the situation. I was so broke (not poor) that I:
- Could not afford a haircut. I went to a barber school to get it cut for free
- Would not take too many photos because I could not afford to have a roll of film developed
- Collected cans and bottles for recycling money to buy food for my family
- Got three months behind on my mortgage payment and the bank was going to foreclose
- Borrowed money to buy “Open-Close” signs to sell to retail businesses and collected enough money to make my house payment. Sold them for $20 each.
- Used a credit card for gasoline back in the day when they were paper forms (before they could be instantly processed at the pump) so I could drive my car far enough to sell the “Open-Close” signs.
- Would use scrap wood from construction sites to build closet shelves
- Would make my own pizza dough to feed the family
- Borrowed $1800 from a high-interest lender and had to collateralize all of my furniture and personal belongings.
That last one was so upsetting that I vowed to never let that happen again and started to seek how to transform my financial life. Unfortunately, or probably, fortunately, I had become aware that no matter how much money I made, my wife was going to outspend it. Something she wanted was the reason we had to borrow $1800 and I had not yet learned how to say “no.” To this day I cannot even remember what the money was for, but the feeling of disgust at the situation I was in has never left me.
Today, that is so far from my financial situation I thank God for the blessings I have; my health, my relationships and my prosperity. And I pray that you are blessed in the same way that I have been, and my mission on this planet is to support your financial transformation.article by Rennie Gabriel