Why You’ll Always Be a Poor?
By: Aliyan Shaikh
Tags: Life Lessons, Personal Growth, Personal Development, Self Improvement, Self-awareness

Why You’ll Always Be a Poor?

5 Reasons that you will always be broke

You have definitely heard that:

It is not your fault if you are born poor. If you die poor, then it is your fault.

Photo by drobotdean on freepik

These might be the reasons that will never let you get rich.

1. You are not Investing in Yourself,

Investing in yourself is one of the best return on investments you can have. The effort, time, and money you invest in yourself have a direct impact on the quality of life you experience now and will in the future. Investing in yourself, acquiring knowledge, or developing skills is the best investment you can make for your financial future. By investing in yourself, you can make yourself more valuable.

How can you invest in yourself?

Search on the web you will get thousands of results. Some of them are, eat healthier, learn stuff online, read books, sleep and wake up early, choose friends wisely and get rid of toxic friends, manage your time better, invest your money, watch educational shows, set goals, and take exercise.

2. You think “You Know Everything,”

If you think you know everything and you are trying to appear like you are at the top of your game, that’s probably the worst thing you can do. It is not possible to know everything. You will not be able to learn many new things. You will get an unnecessary attitude when you think you know everything and people start disliking you. You will be likely to make more mistakes by thinking you know everything. You will get everything wrong and you don’t let others learn and grow from applying their ideas. There is a humorous quote for these type of people,

Unless your name is Google stop acting like you know everything.

3. You are Wasting Money in your Bad Habits:

This bad habit can be a great source of frustration and harm. Its effect can be painful.

Spending money is easy, but it is hard to generate money. If you are spending more money than you make, then you are going to be poor soon. You will find yourself getting into financial trouble if you have bad spending.

You can act on these actions in order to reduce unnecessary spending,

1. Have a budget and stick to it. It will help you in tracking all your income that where it is all going.

2. Always make purchases with cash, not with any Bank Card.

3. Do dinner only one time a week at a restaurant. By the way, it is not necessary to have meals at restaurants.

4. Think every time before purchasing anything and ask yourself these questions: Is this item a need or a want? Can you truly afford it? What is its true cost?

Want to have more money?

4. You Have Only One Source of Income:

Nobody’s job is safe. Having a second source of income has become a necessity. Relying on only one source of income can be a risky way to live. It will help you to reach your financial goal, and to live a more comfortable life. When you will be earning money through different sources, you can save more money, and have more emergency funds. You don’t need to borrow money.

You can work as a freelancer. You can provide services like content writing, content creation, SEO services, graphic designing, social media marketing, and coding. You will have to sign up for Freelancer, Upwork, People per Hour, or Fiverr.

5. You have No Passive Income Streams:

“If you don’t find a way to make money while you sleep, you will work until you die.”

If you have not any passive income stream, you will keep on working until you die. Passive Income means You are earning money without being active. There are many ways to earn passive income. Some of them are given in this story.