Consumer or Creator, these mindsets create a huge financial difference in people’s life. The maximum part of the population is Consumer and a very tiny percentage of the population is the creator.
People generally have different mindsets for their financial life. One of them is the consumer mindset. The person with this approach doesn’t want to be part of the mainstream. They don’t believe in creation but only in consumption. It’s like seeing things happening from a distance and without actually doing them. These peoples don’t have any financial plan.
They buy stuff, be it gadgets, vehicles, home décor, etc. as soon as they get money. They are trapped in ‘Lifestyle Servitude’ for instant gratification & pleasure. Once they get any rise in their income, they already have a plan to spend this surplus money on some lifestyle stuff.
These peoples are using credit cards / Loans with pride because it gives them the power to buy things instantly without having money in their bank account. They are willing to buy cars, costly gadgets on easy EMIs. Their formula for wealth is the combination of Income & Debt. Debt in several forms becomes a permanent member of their life. They cannot imagine having a life without debt & have a feeling of having infinite time to enjoy but spend no time on gaining financial knowledge. These people stopped reading immediately after their basic education.
This mindset peoples are available in each group of society, be it poor or rich or ultra-rich. There are several examples in the affluent category, these people were good performers & earners once upon a time, now broke due to this mindset approach. Someone who earns Rs. 20,00,000 a year is susceptible to the same consumer approach pitfalls as someone who earns Rs. 20,000!
Financial discipline is blind to income. Lack of financial discipline resides on this approach and it doesn’t care what you earn. Those lacking financial discipline misuse money to delay the inevitable. If you can’t live on Rs. 360,000 a year, you won’t be able to live on Rs. 3600,000 a year. You might be taking Rs. 100,000 loan, the rich person might be taking Rs. 10,00,000 loan. The fretting is alike; the problems are the same, only the amounts differ.
The other mindset is the creator mindset and believe me there are only a few % of people having this approach. The person will this approach is just the opposite of the consumer. They believe in creating things. These categories of peoples are problem solvers, they help society by solving other’s problems, at the same time they are earning hefty amount with this approach.
Our societies, cities, states, and even countries are full of various types of problems. There are small-scale to large to ultra large scale problems. This mindset group of people has dared to resolve all such problems and making life easy for all. Your financial kitty size is always proportional to the level of your problem solution.
These are having their financial plan, vision, mission and are taking risks in life by creating good things for others. When you are at your home, just look at the things all-around. Each and everything is created by somebody (some company). Don’t be surprised by seeing the wealth of these companies! Basically, these companies or individuals are providing products for several such houses. They are the problem solver to many.
Wealth is proportional to the number of consumers you are attending either through your product or service. It goes like Wealth= No. of product X Unit cost. If your product is costly, even fewer no of consumers can help you to earn a hefty amount. Also if your product is less costly but the no. of people you are serving is more then also you will earn a hefty amount. Being rich is a right to them.
What is Your Mindset?
You cannot solve poor financial management with more money. Only a mindset change regarding money is a solution to money problems. To change your mindset, you must change your approach. Never equate wealth to income and debt.
A large no. of the population is having only the Consumer Mindset approach, only a very few percentages of the population is having the Creator Mindset approach. All these creator mindset peoples are excellent consumers. They own all the luxury stuff. But there is a catch here, they are the first Creator then Consumer. Generally, people use the reverse approach as only consumers and hardly creators.
If you analyze closely, the creator’s life is full of opportunities. For them, even a baby, before birth is a consumer as the baby needs medical assistance while in the womb. From birth to the last ritual, this world is full of all the products or services, which one consumes throughout life, be it home, cloth, food, toys, school, college, vehicle, gadgets, books, stationery, transport, medical, etc.
At each stage we face several problems with respect to a new evolution in society, it’s the only creator who solves our problem by providing us products or services
It’s always better to have a creator mindset to improve your financial life. Be it a small product or be it a small service. You can very well upgrade these so-called small to bigger products or services in the future. If you still have doubt that there is very little opportunity left now, just stand near any crowded place and listen to the people carefully. You will realize that still, the world is full of such opportunities. It’s now your decision to choose the mindset as a consumer or as a creator.
Wealth is not authored by material possessions, money, or “stuff,” but the fundamental as freedom of choice, fitness in health, and family relationship. Within this wealth, trinity is where you will find true wealth and, yes, happiness. The problem with looking wealthy versus being wealthy is that the former is easy while the latter is not.
People who declare, “Money doesn’t buy happiness” have already concluded they will never have money. It may be true for some people that “Money doesn’t buy happiness” but “Money can solve so many problems which makes you sad”. Once you have money, you can very well buy happiness through several means and solve plenty of your problems by simply writing off a cheque.
“Being the richest man in the cemetery doesn’t matter to me … Going to bed at night saying we’ve done something wonderful… that’s what matters to me.”- Steve Jobs