PHDinMeBlog-Money Monday/MEANS OR MINDSET?

Hey Scholars!  Here’s an interesting article I found for Money Monday!  One reader of this guys blog was offended by his writing and commented as such.  The Blogger, Kalen, replied to the reader with understanding and an explanation on why he may come across harsh and how he is used to getting criticism for it.  WHAT DO YOU THINK ABOUT THE PERSPECTIVE?

Light, Love and Financial Freedom, 



Means or Mindset? Why the Rich are Rich and the Poor are Poor
by Kalen Bruce | Oct 19, 2015 |
Means or Mindset? Why the Rich are Rich and the Poor are Poor
The rich keep getting richer, and the poor keep getting poorer. Right?
You’ve heard that a thousand times. It’s not fair, is it? Some people just can’t get a break.
Well, that may be true, but it’s not that simple.

So why are some people rich and others poor? Why do some poor become rich, while some families stay poor for generations?

The Means to Make it Work
Here’s the cold, hard truth: money rarely solves money problems. Why? Because money isn’t the problem. Money is almost never the problem.
I understand that people are in poverty for plenty of reasons. The last thing I want to do is make broad generalizations.
That being said, people who stay in poverty often stay there for one main reason, and it’s just not their means. Sure, they may not have the means to pay off all their debt. They may not have the means to invest monthly…but their means are not the problem.

What happens to most lottery winners? What happens to many professional athletes after they retire?
They go broke…or close to it. Sports Illustrated reported a study that showed:
60% of NBA players are broke within 5 years of leaving the game
78% of NFL players go broke eventually after leaving the game
Why? There have been numerous studies to figure out why, but here is the gist of what those studies reveal:
In all of the training camps, weight lifting sessions and strategy videos, the players are taught all about the game, and taught nothing about how to handle the money they earn from the game.
Professional athletes feel like they have to live up to a certain high standard. Once they leave the game and stop earning the money, that same lifestyle cannot continue to go on.
Going back to the lottery winners who go broke…what happens there? It’s simple:
No matter how much money you win, inherit or earn, if you don’t change your mindset and properly handle the money, the money will leave you. It could be months, years or even decades, but eventually the money will run out, if you don’t change your mindset.

The Mindset to Make it Work
But what about the broken homes, the heartaches and the emergencies that arise and either keep people in poverty or send them into poverty? All of that happens, and it can’t be ignored…however…there is an important lesson here:
Any time you use your situation as an excuse, you’re shooting yourself in the foot. It may be the greatest excuse in the world, and it may be legitimate, but it’s only hurting you.
Excuses don’t change your life, they keep you living the same life you were living. They just make you feel like it’s OK to live that way.

The majority of the Forbes 400 list of the richest people in the world are self-made. Many of them came from poverty stricken homes and became billionaires. How does this happen? Mindset.
The first change must be in your mindset. Even after a severely difficult financial disaster, you must make sure your mindset is where it needs to be. Countless people come back from the worst disasters to completely rebuild their life and often become millionaires (or better). This would be a great place to insert a motivational quote like “if they can do it, you can do it too!”, but I won’t do that to you…oh wait, I guess I already did…

What Does it Mean to Change Your Mindset?
It’s easy to tell someone to change their mindset. Change your mindset and you can change your life, right? I think so, but that doesn’t explain how to change your mindset, or what to change it to.
I’m going to get really practical here. Here is exactly what I mean when I say “change your mindset”:

*Stop feeling sorry for yourself. Stop negative self-talk and negative talk in general. It helps no one. It only helps you feel sorry for yourself. Don’t like your situation? Change it. But stop being negative.

*Stop using your situation as a crutch. I get it. Something very bad happened to you. That’s called life. Life happened to you. Bad things happen to everyone, all the time. The important thing is what we do with those things. It’s commonly said “are you letting your situation make you bitter or better?” There is only one letter difference, but which one you choose can change everything. Don’t focus on the “I”, focus on becoming better.

*Stop thinking you can’t do something that others can do. If someone else did it, you can do it. Stop limiting yourself to the life your living now. You are capable of earning more, living a better life and helping more people. But first, you have to actually believe that.

If you catch yourself thinking about why you can’t do something, instead of how you can do something, you’re falling into the trap.


FOLLOW PHDinMEBlog!  Pursuing a Higher Degree in Me 🙂


10 thoughts on “PHDinMeBlog-Money Monday/MEANS OR MINDSET?

  1. In my opinion this subject is too complex to try to offer constructive solutions within 1500 words. I do believe mindset is important. There certainly are people that have overcome all sort of adversities, but the problems and solutions stem from deeper sources as well. I believe the author had good intentions with his piece. There might be a little naivety and a lack of worldly experience creating some residual resentments. Mindset, however, is an important component for positive change.

    Liked by 2 people

    1. Thanks for your input! I appreciate that. I see where you’re coming from about naivety and lack of worldly experience, and it may come off that way, but I don’t think that has much of a role. I could have went on and on about how terrible some situations are and how some people can’t change their situation, but that doesn’t help anybody. Some people have argued that I’m not being sensitive to people is seriously hopeless situations, but I actually have a lot of experience with bad situations, and I know many people who were worse off than me who have overcame their situation to be better off than me. It’s not that I don’t understand that there are legitimate situations that people can’t “overcome with mindset”, it’s just that it doesn’t do any good to talk about something as if you can’t change it. Like you said, mindset is important for positive change, whether financial or otherwise. Thanks again!

      Liked by 1 person

  2. I´m too marxist for this kind of opinions. Are we sure that our friend Kalen understands capitalism? “Because money isn’t the problem. Money is almost never the problem.” Excuse me? Money and capital are still synonyms so, money is the core of capitalism. The problem is that you need to invest your money, in order to generate a profit. That´s why most athletes and lottery winners end broken, they just spend their money. They don´t invest it. The world average salary is about 1$ a day. It is no joke. The gap between the first and the third world is just impossible to cut. So, it´s not about the means. Where are you from, Kalen, darling? Let´s go to Burundi for a Forbes magazine and a couple of drinks. We can talk there about the means if you´re in the mood 🙂 How these 400 became billionaries? Mindset? Amancio Ortega is not the case. His textile group is well known for child labour-bla-bla-slavery in South America, Asia and even here, at home, in Spain. A big applause to Amancio! 399, we can go on and on, but it will be boring. Yeah, it´s all about mindset 🙂 I´m a huge fan of positive thinking but attached to a capitalist speech, it´s dangerous because some can conclude that their poverty is their own fault. It´s not. Like I´ve said, lovely and inspiring blog Shona!

    Liked by 1 person

    1. Whoa! David is on fire with this one! You bring up great points that I think many will agree with David! I am so glad you shared your comments. I do think this is quite a complex subject and any attempt to oversimplify may not be taken kindly. So glad you are part of our community! Light and Love, Shona

      Liked by 1 person

    2. Thanks so much for the input! I’m writing largely to Americans who are in a situation that can be changed. If I was writing to a third world country, I would have written differently. I actually wrote an article explaining how Americans are all rich (, where I compare salaries and living situations around the world. If someone is reading this article on a computer, there is a good chance that they are not from a third world country. You brought up the 400 billionaires…considering that most were self-made, that’s definitely mindset. And like you said, “That´s why most athletes and lottery winners end broken, they just spend their money”…that’s exactly what I mean by money is not the problem. If money was the problem, those athletes and lottery winners would just need money to fix all their problems, but not knowing how to handle that money (mindset) is what caused them to go broke, even after winning/earning millions. I think a lot of this is semantics, but I definitely think that, to my audience in America, money is almost never the problem. I hope that clarifies my position a little! Thanks again for your input! 🙂

      Liked by 2 people

      1. Kalen, welcome to PHDinMeBlog! As an army kid ( I won’t say brat;) I am happy that you have found passion and appreciation for serving in our military. (And that you are thriving financially). Those are the ingredients that make for the greatest soldiers. Keep writing and sharing your perspective. A good pot stir can promote conversations that provoke people to think! The key point of it all! Thanks for the gracious replies to your reblogged post! Follow/Come back soon! Light and Love, Shona


      2. Thank you, Kalen. Yes, it does! I didn´t notice you´re specifically talking about Americans. Capitalism: Produce as cheap as you can and sell as expensive as you can for a profit. Nike never produced a single shoe in the USA. Never, a single American citizen had the opportunity to start in the company, making shoes and grow up professionally. You named the 400 thiefs, I offered a counter-example: Amancio Ortega who is in that list thanks to the blood and sweat of child and women in slavery conditions. Yes, it´s about mindset. A psycho mindset is required to get into that list. I agree most of this is semantics, but I also think that the redistribution of the money and economic inequality are the huge problems in actual societies, no matter which country we chose. Finally, I was looking flights to Burundi. It will be easier change it for another country, Spain for example. We are an African country in the wrong continent! Thanks again for your reply. I´m looking forward to reading more of your post with these clarifications in mind. Don´t worry, I won´t troll or annoy you if I disagree 🙂 Have a nice week!

        Liked by 2 people

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s