12 Difference Between Poor And Broke

1. Being poor is a mindset. Being broke is only a temporary condition. 2. Poor is when you don't know how to manage money, broke is when go bankrupt because you can't pay medical bills. 3. Being broke means you can make a decent amount of money but you don’t have money to spend, mainly living beyond your own means. Being broke involves a much wider spectrum as you can be lower, middle, and in some cases upper-class. Poor: Having no money or very little money to live your day to day life with a decent standard of living. 4. Being broke is from spending outside of your means. Being poor is just not having the means, period. 5. Poverty is a valid and real existence for billions of people the world over, but for many Americans, we’re just broke. We have the opportunity to take on a second job, hold a garage sale or take a focused look at how we’re spending our money. Chances are we can figure out at least a couple ways to spend less and earn more. 6. Being broke means having no cash available, but having access to sufficient resources that the every day minor oh-shit moments are not a crisis as resources were available to manage the problem. Being poor means the minor oh-shit moments can easily become a crisis because there are no resources available. 7. Getting away from temporary hardship – and knowing there’s a light at the end of the tunnel – is infinitely easier, and more possible, for a broke person.