February 21, 2021
Income inequality is a topic that has been talked about a lot in the past, and will continue to be talked about a lot in the future as the gap grows. But here’s the thing, very few people really understand what causes it.
The truth that nobody wants to admit or talk about, is that income inequality is caused largely by how you think about money, because how you view money determines how you treat it.
If you have a poverty mentality, then you will not save or invest your money, and you will effectively spend every dime you make.
You won’t know how to attract money, you won’t know to recognize the opportunities that are all around you, and you will blame the fact that you don’t have or make a lot of money on external factors, instead of taking responsibility for how your life has turned out.
Whereas, if you have a wealth mentality, you will believe that opportunity is all around you, and you will always be looking for it. You will manage your money well by spending less than you make, saving and investing the rest.
You will know how to attract money to you, and you will recognize that you have control over your own life, and that the outcome/destiny of your life is determined by you, and you alone.
But here’s the thing, the fact that a person is rich (i.e. has a lot of money) doesn’t make them wealthy, and conversely, the fact that a person is broke (i.e. has very little, to no money) doesn’t make them poor.
You see being poor or being wealthy, has nothing to do with how much money you have or don’t have, but has everything to do with how you think about and handle your money.
This is the real cause of income inequality. It is what determines who ends up being rich (i.e. having lots of money) and who ends up being broke (i.e. having very little, to no money).
We talk about all of this and more in today’s episode.
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