It’s not always the silver spooners who end up swimming in wealth. Some of the most affluent folks around came from very humble beginnings.
They were once poor, but somewhere along the line, they flipped the script. What’s their secret?
Well, while it might seem like luck, if you look closely enough, they usually exhibit some particular behaviors that paved the way to prosperity.
In this article, we’re going to dig into these behaviors – five traits that seem common among people who grew up poor but ended up wealthy.
Maybe adopting some of these behaviors could be your ticket to financial success, too.
1) Embracing frugality
Folks who’ve tasted poverty tend to have a profound respect for the value of a dollar.
They understand that money is a tool, not a toy. And they know better than to squander it on temporary whims or flashy status symbols.
Instead, they opt for frugality. They save, they invest, and they make each buck work for them. They understand the concept of delayed gratification and are not swayed by the allure of instant gratification.
They might have left their humble beginnings behind, but their thrifty habits? Those tend to stick around.
And it’s often these habits that play a crucial role in their journey to wealth.
2) Pursuing education relentlessly
Now, this one hits close to home for me. I’ve seen firsthand how a thirst for knowledge can change a person’s life.
Growing up, my family didn’t have much. My parents worked hard to make ends meet, and there were times when things were really tough. But they always placed a high value on education. They knew that knowledge was power and that it could open doors to a better future.
I carried this lesson with me into adulthood. I worked my way through college, juggling multiple jobs while studying. It was hard, but I knew it was the key to breaking the cycle of poverty.
And it did. Today, I’m in a far better place financially than where I started, thanks largely to the knowledge and skills I gained through education.
People who grew up poor but later become wealthy often share this relentless pursuit of education. They understand that learning doesn’t stop when you leave school – it’s a lifelong process.
They read books, attend seminars, take courses – anything to expand their knowledge and skills. They know that investment in self-education pays the best interest. And their wealth is often a testament to that.
This is well-backed up by experts, too. The folks at the World Economic Forum ranked “Curiosity and lifelong learning” as the fifth most important core skill for workers in their Future of Jobs Report 2023.
3) Harnessing the power of networks
Did you know that some research suggests that 85% of jobs are filled through networking?
That’s right, who you know can sometimes be just as important as what you know.
People who transition from poverty to wealth understand this. They recognize the value of establishing and maintaining strong connections. From mentors who can guide them, to peers who can support them, to business contacts who can collaborate with them – they know that their network can be a powerful ally on their journey to prosperity.
They are not afraid to reach out, ask for help, and share their ideas and goals. They understand that a strong network is like a net that captures opportunities.
4) A resilient mindset
Resilience is a cornerstone trait among those who manage to turn rags to riches, and few stories illustrate this better than that of J.K. Rowling.
Once a single mother living on welfare, Rowling faced rejection after rejection in her early writing career. Twelve publishers passed on the manuscript of Harry Potter, a book that would eventually become a cultural phenomenon.
Imagine if Rowling had let those rejections discourage her permanently. The world might never have known the magic of Hogwarts, and Rowling herself might not have reached her current estimated net worth of around $1 billion.
Instead, she persisted, buoyed by an unwavering belief in her story and her abilities. This resilience—this refusal to give up despite daunting odds—is emblematic of those who climb from poverty to prosperity.
People who grow up with significant financial challenges often develop a robust mental toughness. They learn early on that setbacks are not endpoints but stepping stones.
This resilient mindset enables them to push through periods of doubt and hardship, leveraging their perseverance as a catalyst for change and growth.
In Rowling’s case, her resilience transformed her life and touched millions of others. For many seeking to escape the grips of poverty, adopting a similar resilient mindset can offer a path to not only surviving but thriving in the face of adversity.
5) Setting clear goals
I used to think that wealth was something that just happened to you. You either won the lottery or were born into a rich family. But as I started to dig deeper, I realized that this was far from the truth.
I began setting clear goals for myself. Not vague wishes like “I want to be rich”, but specific, measurable, achievable, relevant, and time-bound goals. Things like “I want to save $10,000 by the end of the year” or “I want to pay off my student loans in five years”.
And you know what? It worked.
As bestselling author Tony Robbins has said, “Setting goals is the first step in turning the invisible into the visible.”
People who grow up poor but become wealthy don’t leave their financial success up to chance. They set clear goals and work diligently towards them.
They know where they want to go and map out a path to get there. They keep their eyes on the prize and stay focused, even when things get tough.
And this is not just about financial goals. It’s about life goals, too. Because wealth is not just about having a lot of money; it’s about having a lot of options. And clear goals can help you create those options for yourself.
Final thoughts: The power of habits
The journey from scarcity to abundance is not merely a tale of rags to riches. It’s usually a testament to the power of habits, attitudes, and behaviors.
These behaviors that we’ve explored are not exclusive to those who’ve transitioned from poverty to wealth. They’re accessible to anyone willing to adopt them.
Whether it’s the frugality born out of necessity, the relentless pursuit of education, strategic networking, resilience in the face of adversity, or clear goal setting – each behavior is a stepping stone on the path to prosperity.
Each day presents you with a choice – to repeat old patterns or to forge new ones. To remain where you are or to move towards where you want to be. The power lies within you. Choose wisely.
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