Poverty is not only material, but also reflected in mental state. Via consulting domestic and foreign researches on impoverished mentality and by means of method of literature analysis, we first sort out and summarize the psychological traits and their manifestations. Then we put forward the concept, impoverished mind-set, and construct the model of impoverished mind-set to represent the psychological traits of the poor. Impoverished mind-set is mainly comprised of four dimensions consisting of impoverished affections and personality traits, impoverished cognition, impoverished behavior and impoverished self. Among them, impoverished affections and personality traits includes impoverished affections and impoverished personality traits, and that impoverished cognition is composed of decision-making cognition bias and social cognition bias, while impoverished behavior manifest itself as paradoxical and passive. Last but not Least, impoverished self is comprised of self-perception and evaluation as well as differentiation of self.