Money Mantra - Part I of IV

Last week I was shopping for new clothes with my friend. I was done with my shopping but my friend could not get clothes that suited his taste. So as we moved through the market, I observed an attitude of people, a behaviour that moved in patterns. I saw something very interesting!

On the basis of observation I categorised people in three names. They are:
Poor-person consciousness(PPC) These people need not be actually poor. Their bank account may have Lakhs of rupees but it does not matter. Such people will always hunt for price list first. Then they look at the cheapest price. These people are least bothered about quality. They just want that product at cheapest possible price. One thing that must must not be forgotten and that is PPC is just a attitude of mind and it can change anytime. Here the main issue is the people with PPC will ask the price of the product. Hearing the price the person compares it with the amount in their wallet or in bank account. If it is not affordable then the person with PPC will ask for products of lower price range. They are ready to compromise on the quality front.

Rich-person Consciousness (RPC) These people need not be rich actually! I know that there may be confusion in your mind. PPC's may not be poor and RPC need not be rich. That's simply because here I am not talking about the financial status of the person concerned. It's the mental attitude that we are focusing on!

A RPC will go to a shop and straight away buy a product with the quoted price. Person may bargain a little bit but will buy with no questions asked. It does not mean that the purchasing will be over in few minutes. The person may spend as much time in the shop till the person finds the product that he or she needs. The person may be buying from his own money or borrowed money but is not disturbed by the price tag. Most of these people have someone else to fund their purchases! These are Care-Free buyers

Wealthy-person Consciousness (WPC) These type of people CAN be rich or poor. The essential difference is a person with WPC will seek a product he or she wants. If the price is with in the budget then fine, else the person will stat thinking how to get more funds to afford the product? That's what make these type of people outstanding. Such people are rare in life. Most of the time you will get to see people with PPC or RPC. People with WPC have a spirit of an entrepreneur. They will not settle for less but will work out a way to afford what they want. They will spend in the cycle of 60-30-10!

What is 60-30-10? Well, wait for next blog on the spending cycles.

This is the part one of the four parts series of Money Mantra!
O.A.K.