You're about to discover how rich people respond to financial loss and how it is in direct contrast to the way poor people typically respond. Some immediately think, "Yeah, of course rich folks respond differently to financial loss than poor people; the rich have the money to pay for them!" Although that may be true, it's not always the case. Sometimes rich people suffer huge financial losses. One of the things that separates the rich from the poor is how they respond to the inevitable financial losses that occur. How do you respond? Find out if you respond like a rich person or a poor person in this video:
How Rich People Respond to Financial Loss:
Example Story: (1:09)
I purchased a property and my contractor has been in the process of renovating so that I can resell. I put the utility bill in my name at the end of October. The utility bill would not be created until December 15th and would arrive in my PO box. The water bill was $2000 for one month, $1000 for consumption, and $1000 for sewage
How did I handle this?
First I found out what the problem was:
I called my contractor to find out if there is some sort of plumbing leak but the contractor did not find one. I called my plumber and he could not find a problem either The meter was correct so the plumber told me that the utility company did not make a mistake. We could only guess that there must have been a leak that continued to drip due to me not turning off the toilet water.
Poor Person Mentality:
Never takes the blame. A poor person could look at this situation and blame the utilities company, or feel scammed. Possibly even demanding their money back, that something must be wrong.
Rich Person Mentality:
A rich person accepts the blame, learns a lesson, and pays the bill. Rich people call financial losses lessons. The bigger the loss the bigger the lesson
Make a written list of all expensive learning lessons you have gone through. Periodically review this list. You will be less likely to run into the same problems. You can always create more money by utilizing the lessons you learn