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Wednesday, December 4, 2019

Three Habits You Must Stop If You Don't Want to Be Poor Forever

Habits to stop to avoid poverty

If you are poor, you won’t be able to meet your personal needs and this will start causing you a lot of troubles even frustrate you especially when people don't want to hear your voice in the society cause you don't have money.

Hence, you need to avoid certain habits that leads to poverty. But unfortunately, many poor people are not aware of them. Both the rich and the poor need to read this article cause it will enable the rich to sustain their wealth and enable the poor to come out of poverty.

Below are four habits to avoid if you don't want to end up poor in life;

1. Living An Extravagant Lifestyle
There are people who earn little salary and yet, they live above their ability and power financially. If you have not reach the level to buy something worth #20,000. Why must you buy it when you know that your salary is just #30,000.

The main reason why some people are in poverty is because of their insatiable crave for extravagant lifestyle. Learn to live within your financial status, Learn to accept where you are now in order for you to move forward.
You will be rich, if you can try as much as possible to lower your crave for extravagant lifestyle. Don't fake it when you can't have it!

2. Acquisition Of Liability and Not Asset
Poor people are fond of purchasing liabilities and not asset. Liability is what takes money out of your pocket, while an asset is that thing that gives you more income. An asset generats more income while liability decreases that income. For an unemployment graduate, your car may be a liability to you. While the same car may be an asset to a driver. Those things you possess that are making you spend money without receiving any income from it are liabilities that you have.

Strive hard and invest in assets. Stop buying things to impress people. When you purchase items based on necessity and the ability of that thing to generate income, then you are ready to be free from poverty.

3. Inability to Save
No matter how little your salary or allowance is, you must be able to save some money from it. Ability to save shows your level of discipline. Honestly, once you get some money. Your ego will push you until you exhaust everything. But as someone who really want to be free from poverty. Be ready to save some money for the future. Who knows, someone might want to sell something that you need to buy or need something urgently. What if you don’t have money at that time? You may miss out that opportunities for life. Start saving today!

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