7 Poverty Habits That Many Have And Don’t Know

7 Poverty Habits That Many Have And Don't Know
7 Poverty Habits That Many Have And Don't Know

Introduction Of 7 Poverty Habits That Many Have And Don’t Know

7 Poverty Habits That Many Have And Don’t Know. Today we are going to see 7 habits of poverty that many people have and do not even realize. Becoming the best version of yourself. So if you are new around here, consider subscribing. And the first bad habit is never planning your financial future.

1- Never Planning Your Financial Future

I mean that many people always live in the present, they think about what they need today, what they want to buy today, and what they deserve to have today. Or they live in the past, they regret their bad decisions, and they think that their life would be much better if it weren’t for that person. Who did such a thing to them, and in general they do not take responsibility.

But more than that, it is simply not projecting as such your vision towards what is coming next. In other words, when the taxes arrive each year, they are a surprise, suddenly it is something that they did not have planned, it is something that they did not have budgeted for, and it is something for which they have not saved the money on time.

Never Planning Your Financial Future

While an organized person, with good financial habits, he does is say “Well, if the tax is worth $ 1,200 each year, every month I can get 100 dollars and by the time it comes time to pay the tax I already have all the money in full, and I have no worries. ” This budgeting and planning as such for the future is a skill that can only be acquired with practice. And the poorest people have a bad habit of never thinking about the future because they are always engrossed in the present.

2- When To Acquire A Debt

The second bad habit is that when they are going to acquire a debt, regardless of whether or not they know when to acquire a debt, when it makes sense, at what moment, and at what point in life it makes sense to go into debt and for what things, suppose that is well At that point, they have the bad habit of saying: “How much do I have left?”

It’s like “Done, how much am I going to pay monthly”, and that’s it. They do not care that it is 5 years, 10 years, or even 20 years when they acquire a mortgage loan and say “how much do I have the installments?” Sellers know this and sell you a lot of the ideas of ​​”Pay your car only for X amount per month!”, Or “buy as and take it for installments of only that much. You Can Also Read The 2-Day Rule To Accelerate Your Progress To Financial Success.

” And people love this and it is the worst habit of all. Do not ask yourself what are the associated costs such as insurance, and handling fees if we talk about credit cards, what is the interest rate exactly, how can I calculate then what they are charging me and if what they are charging me corresponds to that agreed interest rate (because one thing is that they tell you and another thing is that they charge it). And so many entities, unfortunately, take advantage of ignorant people. And these people consider the entities to be the evil ones.

3- Lifestyle Inflation

When they sign and accept, suddenly they don’t know what they’re even getting into. And when the monthly installments come, they start to pay, suddenly in part in acceptance by saying “Yes, this is what they told me I had to pay,” and eventually they wonder, “Well, how much am I owing? “… And they are going to analyze, and since the interest rate was so high, they realize that what they have been paying mainly is interest and they have not paid almost any capital, and the debt has practically reduced nothing.

And this is a consequence, not that things are like that but that people did not have the clarity to plan and project that in the future and know in advance that it was a bad decision. Bad habit number 3 is lifestyle inflation. Not only with occasional income for example. The truth is that if a person finds a ticket on the street or wins an occasional thing, a raffle or something, let’s not talk about the lottery but let’s talk about something smaller.

Or if a person even pays you money that they owed you a long time ago, they will most likely end up spending it. In what? Who knows, in something that simply does not show what it was spent on. And there are people who if they also get a raise, change and work in a position that gives them more money each month, and when you analyze them, it doesn’t show.

Lifestyle Inflation

But why? Not only because it is not noticeable in appearance, but because that person is spending more but on things that have no benefit and no sense. Now, there are people who when they start to earn more, save more money and therefore it is not noticeable that they are earning more money, that’s fine.

I repeat: It is not looking rich but truly creating wealth and being a truly wealthy person. But when those people who earn more money, spend more money, they always say that it is never enough, that it is never enough, they complain about how wages are, about how difficult things are, about how everything is so expensive.

4- The Mindset Of The Gambler

And they do not realize that there are people who with less money than they earn, can survive, and can even save. Because the issue of not saving because I cannot afford it is nothing more than an excuse and a question of priorities. Very similar to the above, number 4 is the mindset of the gambler. I’m not talking about the people who necessarily buy the lottery ticket, or simply buy things that they can bet on.

But the one that they see more the potential benefit of winning whatever the prize is as such, even this is used by some cooperatives where they say that who knows what things are raffled every month. Or some organizations lend money, then the person acquires a loan as such and monthly they have the opportunity or the possibility that they will earn the full payment of their loan, and then they love this. It’s the mindset that gambling makes sense.

5- Spending Money To Meet Other People’s Expectations

And financially smart people know that gambling is simply going against the math, because you have all the odds against you, and all you are winning is for the bookmaker to get rich off your money. However, even for that reason, governments charge so much tax on gambling, because people don’t like to pay taxes but love to gamble. Number 5 is spending money to meet other people’s expectations. Not necessarily other people’s tastes, but what others expect. That is to say that if other people expect that at your age you already have your car, the safest thing is that you will start wanting to buy a car just by unconsciously satisfying that need for approval from others.

Or if your parents tell you “it is that you should already have such a thing”, “it is that you should have already achieved such a thing”, that you unconsciously seek to spend money or even consciously spend money just to fulfill what others expect. Ask yourself really what your goals are at this moment (we will also talk about goals), and if those goals are truly yours.

Spending Money To Meet Other People's Expectations

Because according to different studies, the vast majority of people set goals that are simply not defined by themselves but by others, for others, to satisfy the expectations of others. And this is when if I only think about myself and I am not interested in what the neighbor thinks, I can take control of my finances, focus on what is important, and that I stop caring if the neighbor considers that I am successful or that I am a failure, it does not matter.

6- Write Down Income And Expenses

Number 6 is not to write down income and expenses and to have a detailed follow-up. I can have a lot of ideas of ​ I earn so much monthly; monthly my utility bills cost approximately as much; this is what I spend approximately in the market”, that is one thing, the other is to write it down. And write down in the application, in the system, in Excel, on the paper, not only “Market – both”, but.

I analyze the market and say “Oops, I brought this that is NOT like market purchases for normal food “, but suddenly it is meat, or it is something that was in the promotion and I did not necessarily think to buy. To the point of realizing what my ant expenses are, and the things that.

I really should not be spending money on them, or at least they are getting out of control. If I never do this and I always have a bad habit of never knowing how I handle my money, then eventually it gets out of control and I don’t even realize why or at what point it runs out And this is how so many people, millions of people around the world say that simply money is only enough for them and that, for the month.

7- Having No Goals

Some don’t even make ends meet with the money they earn. It’s not because they don’t earn enough, it’s because they don’t do detailed tracking. If your income is too low, you have to focus and work hard to generate more income, whatever that requires.

But know that the problem for the vast majority of people is not the amount of money they receive, but how they manage it and the bad habit is never to write down anything. And finally, the worst habit of all is having no goals. Not having specific goals, ideally long-term: 10 years, 15, 20 years. For example, shorter-term goals: Type 5 years, 2 years.

Annual goals: Always each year I should know what I should aim for. Monthly Goals: What should I achieve this month and make it a reality. Weekly Goals: For me to know this week what are the things that I should have completed and that should not happen this week. And finally, daily goals: At least what should I get up today knowing that I must accomplish and that it has to come true today. What things are suddenly more flexible, and if.

The Generation Of Passive Income

I can not achieve today I leave for tomorrow or the day after tomorrow. But when I do not have any of these goals, neither the long-term, nor the medium-term, nor the short-term, nor the daily who knows where it will take me. Or in other words, when you don’t have a clear destination, any path would take you there, even the path of perdition, even the path of poverty.

So it is good to get rid of this bad habit and all the others that I have mentioned and start creating a life where abundance is a priority for you.

If this is something that interests you, I tell you that my Money and Abundance Training has exactly that objective, to help you believe and start to walk your path towards financial freedom.

That is to say, a life in which you don’t have to be working for the money but you put the money to work for you. Connecting your talents, skills, and abilities, with the generation of passive income, of abundance, of money that you can receive even when you are not working.