7 Main Differences Between Rich and Poor People

[Music] you're going to want to check this out seven differences between rich people and poor people not every rich person is born into a wealthy family so how do so many well-off people reach their financial goals a major difference between rich people and those who have money problems can be found in the way they think act and see the world but before you learn about the seven things that many affluent people do differently from the rest of the world pay attention to the big red subscription button as soon as you click it you'll be taken to the bright side of life where you'll find hundreds of videos these videos contain the answers to almost any question you may have there are also daily updates so if you want to stay tuned remember to turn on notifications [Music] all right let's count down from number seven rich people don't try to show off their wealth look at these guys one of them is rich the other is poor can you guess which one is poor and which one is rich well you might think that the wealthy one is the guy wearing pants from a famous designer expensive jewelry and a haughty smirk right nope this guy is just trying to look rich but those who have money don't always flaunt their wealth it may sound surprising but there's no real need to buy a pair of thousand dollar jeans if you can find a high quality product that's 10 times cheaper wealthy people understand that and follow this strategy and this doesn't just apply to clothes on top of that most rich people don't blindly follow the latest fashion trends or buy up new collections just because they're popular today they realize that this isn't the best financial investment and even more importantly they don't feel the need to prove anything to anyone else as for people with less money some of them just like our guy are often eager to buy something that is trendy today but at the same time this product often costs a fortune after such a purchase those who don't have the mentality of a rich person often have to save on buying food until they get their next paycheck there's a lot of truth in this statement there are three kinds of people in the world the haves the have-nots and they have not paid for what they haves [Music] number six rich people invest money in certain expensive items while some rich people may pick cheaper though still high quality clothes over trendy items at an exorbitant price there are things they don't save on coffee machine [Music] perhaps you love coffee you can't live without drinking a cup or two a day at the same time you believe that a coffee machine is too expensive to purchase well let's do some math you pay between two and five dollars for a cup of coffee okay let's take 350 as the average price if you buy at least one cup of coffee every day this turns into about one thousand three hundred dollars per year uh oh why didn't we figure this out earlier at the same time a good coffee machine costs no more than five hundred dollars isn't that an impressive difference induction stove [Music] an induction stove costs twice as much as their electric fellows but don't think that wealthy people only opt for induction stoves to make their kitchen look cool the reason is that induction stoves are extremely efficient and almost 90 percent of the energy produced goes into heating your food as for electric stoves their efficiency is only 70 percent gas stoves are the least effective only 40 percent of their energy is spent on heating food one more benefit of induction stoves is that your meal is ready more quickly and therefore less energy is consumed led light bulbs despite having many advantages led light bulbs are still not that popular the reason for this is they're high cost but let's look at some numbers an led light bulb is eight times more expensive than a regular incandescent bulb on the other hand an led bulb consumes 10 times less electricity and while your ordinary light bulb works for a maximum of a thousand hours an led bulb has a service period of between ten thousand and twenty five thousand hours this means that an led light bulb is approximately seven times more economical than an ordinary and cheap incandescent one [Music] energy saving glass most people prefer not to overpay by buying energy-saving glass after all a window with such glass costs 50 percent to 80 percent more than a window with regular glass but there's one thing you should take into consideration before making your final choice forty percent of the heat generated inside your home is lost thanks to low quality windows and with the money you spend on heating it seems a bit unfair to have so much energy heating the outside of your house as for energy-saving coating depending on its style it can reduce the transfer of heat through the glass by 75 to 90 percent now you can calculate how much money you could save by having those advanced windows remember to include not only the excess electricity you use for heating your home but also the electricity used by air conditioners to cool your home when it's hot outside the great thing is that energy saving glass works for keeping your home both warm and cool thermostatic shower faucet at first it might seem that the mechanism that regulates the temperature of the water with preset settings is an unnecessary extra surely you're capable of turning on the hot water and regulating it yourself this gadget also costs three to four times more than an ordinary faucet on the other hand a thermostatic shower faucet will start saving you money right away you won't have to spend ages trying to get your preferred water temperature in addition you'll be able to turn off the water while you're lathering and it will be the right temperature when you turn it on again wow is this how rich people's brains work but wait it gets even better number five rich people make their money work for them while poor people work for their money both poor and rich people work hard to earn money but rich people know how to make their money work for them they don't keep their income in savings accounts they have funds in their budget that they can invest and they do this regularly rich people sometimes have to sacrifice good shopping to invest money and receive much more at a later date that's called delayed gratification as for the less wealthy they tend to spend all their money this places them in a very unhappy vicious circle they work hard and they spend money then they take another job to be able to spend more but it's still not enough the more they earn the more they spend they start working on the weekend and their life turns into a constant race of feudal attempts to earn enough number four rich people know how to manage their money one more thing that makes most rich people stand out is their ability to manage money they know their budget they don't overspend if they use a credit card they do everything to avoid paying finance charges poor people on the contrary often live in a world of credit card bills most of them don't keep track of their money or plan a budget they spend money and when it's all gone they tend to use credit cards number three rich people see opportunities while poor people see obstacles another thing that can differentiate the rich from the poor is the way they think rich people see opportunities for growth and success in everything they do the reasoning is it will be a success because i will make it a success they take responsibility for their actions and decisions and are ready to go to any length to achieve the desired results as for poor people they usually focus on the obstacles new beginnings may bring potential losses and the risks they'll have to take number two rich people concentrate on what they want to achieve while poor people focus on what they want to avoid rich people are fighters they are willing to overcome obstacles to achieve their goals they realize that you can't win without taking risks but they don't think about difficulties and losses they concentrate on their target and they get there poor people on the contrary try to avoid risks by all means as they are afraid of losing their money that's the reason why they might opt for such safe investments as savings accounts and deposits but even if they don't lose their money this way they also don't make it work for them number one rich people face problems while poor people try to ignore problems until it's too late this doesn't mean that wealthy people don't have any fears connected with their business there's probably no human being on earth who is completely fearless but rich people choose to face their fears to become a more successful and powerful individual at the same time poor people tend to avoid admitting that they have fears even to themselves they prefer their comfortable and familiar routine defacing something unknown and potentially risky as a result this prevents them from getting wealthy so in a nutshell it's all about how you think that makes you rich or poor now do you think you have the mentality of a rich or poor person what could you do to become rich tell us in the comments below also remember to press the like button so that we can make you happy with more informative and useful videos see you next time

Channel: BRIGHT SIDE

Views: 5,376,200

Rating: 4.5260677 out of 5

Keywords: psychology tricks, psychology, do this to be rich, don’t to this, get rich, what the rich do, what the rich don’t do, poor habits, rich habits, change your life, habits of successful people, success secret, how to become rich, how to become a millionaire, billionaire, success secrets, save money, saving money, life hacks, financial tips, focus on your life, to-do list, law of income, dollar smart, read more, bright side video, brightside, bright side

Id: gsTjM2WFAeE

Length: 10min 59sec (659 seconds)

Published: Wed Aug 08 2018

Reddit Comments

[u/dragon484848]

For the love of god, I am fairly certain that low income members of society do not run about buying trendy items. The tone is also disheartening, he speaks of the impoverished as you would a dog that has urinated on the carpet.

[u/alyssa_h]

Bullet points:

• Rich people don't spend $1000 on a pair of jeans, they only pay $100 for jeans
• You pay over a thousand dollars a year for your coffee. HA! Rich people (apparently) only pay $500 for (what appears to be) a standard stove top percolator
• Rich people own their own stoves, and apparently do their own cooking
• A maximum of a thousand hours means more than one thousand hours (if you're rich, I guess)
• Poor people work for rich people while rich people get poor people to work for them
• poor people are poor because poor impulse control, second jobs are becuse consumerism

[u/Dont_U_Fukn_Leave_Me]

This is some out of touch shit. Poor people pay for $1000 jeans? No we don't. I can barely mustard $1000 after bills are deducted. And $100 is still way too expensive for some fucking jeans.

[u/[deleted]]

Literally every single is exactly the same. Rich people know how to manage their money.

If you're gonna boot lick like this. At least dont stretch one point into 7. Like literally 4 of them are example of how rich people supposedly save money.

Like does he actually think people are rich because they buy LED lights and coffeemakers?

[u/[deleted]]

The video is just patently wrong! There's no truth to it whatsoever. The rich are large consumers.

[u/somekindataintedlove]

Actual person who grew up basically "lower class": my Dad buys $10 pairs of jeans from thrift stores and wears them until his ass is falling out. I feel guilty spending $100 on clothes. It's like pulling teeth. Meanwhile, a rich kid I know who went to a fancy private school regularly buys rounds of drinks, used to collect actual trendy clothes, still collects sneakers, moves through expensive hobbies like a strong wind through a tree, and in general does not seem to comprehend how rich he is. His clothes last a few months. Mine have to last years, even though that's asking a lot from my pants since my thighs could turn coal into diamonds.

My most expensive piece of clothing is a wool plaid shirt ($100, bought on sale and clearance), my most expensive pair of shoes is a pair of Blundstones ($220). For me that is spending too much. I would shop at a thrift store too if I weren't grossed out by it, able to fit in their clothes, and not trying to dress more androgynous.

$1000 a year on coffee? I buy very expensive coffee and it's $600 at most. The kind of coffee that ruins everything else.

Fucking bougies haven't had contact with a person below their tax bracket since pre-k.

But yeah, the homeless or borderline are just frivolous. I mean, they have a fridge in their mold-infested budget apartment made 99% out of asbestos and lead!

These turds think the rich fucker making 120k right out of college is poor.

[u/Fixer_Of_Things]

Seriously? Ahahahaha

[u/Chew_My_Bacca]

Honestly, Brightside is the first YouTube channel I genuinely despise.

[u/luismontero97]

So basically if I understood this video correctly I should expect to see the guy that sells grilled corn by my metro stop at the next iPhone unveiling?