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If You Don’t Stop These Three Habits, It Will Make You Poor For Life

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Habits that will make you poor for life

You should have yourself to blame if you were born poor and die poor. Only few people are doing what is required to remain prosperous in the future and that is why this article is here. Below are 3 habits that could easily make you become poor forever if you are not careful;

1. You Earn More You Spend More
Consistently raising your expenditure is a good way to accumulate debt and to remain stuck in the echelons of poverty. To stay out of bad debt, you will either need to find a way to earn more or spend less. The first and best option is to find ways to earn more and keep your expenditure constant.

As you know this can only be done by creating multiple streams of income and lot’s of thinking is necessary in that case. The second option is to simply cut on unnecessary expenses. The money that is saved from these budget cuts could be used for embarking on future investment programs.

2. You Live For Today Only
In the 1950s a scientist from Harvard University studied the reasons for upward socio-economic mobility. He wanted to know how comes some generations get wealthier while others get poorer. All his research brought him to a single factor that he concluded was more accurate than any other thing in predicting success – he called it “The Time Pespective”.

Time perspective is basically how far you project into the future when you make a decision today. An example of a long-term perspective is when a wise family man buys land or insurance for their child, even though he or she will not need it for the next eighteen years. This is a long-term approach that involves sacrificing in the short term to assure better outcomes in the long-term.

Most people remain poor because their “time perspective” is focused on short-term goals such as meeting basic lifestyle needs, buying luxury items, paying rent etc… are you one of these set of people?

3. You’re Still Waiting to Start Your Journey of Success
Everyone wants to succeed but very few people are willing to step into the cold waters. In the history of the world, no marathon race has ever been won (or even finished) by someone who never left the starting line.

As you’re stuck saying that you have no enough capital to start, someone else is busy making good use of whatever little they have. When you’re busy complaining about a problem in your society, someone else is busy thinking how to start a business that solves that problem. Continue waiting at the starting line and poverty will soon find you there to keep you company.

Olexhome

Written by Olexhome

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