Opera News

Opera News App

The Only Reason Why Poor People Remain Poor Forever Even if They Are Given a Lot of Money

Hot_Source254
By Hot_Source254 | self meida writer
Published 10 days ago - 6 views

Having academic intelligence is not the same as having financial intelligence. And many people go to school to gain academic intelligence but unfortunately, few schools teach students about financial intelligence.

Many people think that having a lot of money making one rich. Nop! There is much to be done. The way one controls and manages his finance is what is used to determine one's richness.

Financial Intelligence vs Financial IQ

Robert T. Kiyosaki defined Financial Intelligence as a way one handles his/her financial problems through the mind or the part of our mind which we use to solve our financial problems. Financial IQ on the other hand is the measure of Financial Intelligence.

And these two components are the ones that are used to measure the poor and the rich when it comes to the matter of finance.

Rich vs Poor

The only difference between the rich and the poor is how they handle their financial problems. The poor take financial problems as problems while the rich take financial problems as opportunities and then they solve them.

The poor use their money to solve their problems, while the rich take their problems as an opportunity to make more money.

Why Rich People Become Poor After a Short Period of Time

Having money is not everything, but how you manage it determines your fate. Robert T. Kiyosaki said that rich people with high IQ become rich forever whereas the rich with low IQ become poor after some time.

The ability to make more money, manage, secure, budged, and invest your money is what we call the Financial IQ. For instance, Person A makes Ksh 100k in a month and spends 50 percent of the money while Person B makes Ksh 70k and spends 20 percent of it. Person B has more Financial IQ than Person A.

Why? He/she earns less money, spends less, and invests the rest, while Person A earns a lot of money, spends more, and invests less thereafter.

That explains why many people with a lot of money eventually become poor.

Content created and supplied by: Hot_Source254 (via Opera News )

Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform

YOU MAY LIKE

RIP: Sad After 6 People Succumb To A Grisly Road Accident Leaving Several Seriously Injured

12 minutes ago

71 🔥

RIP: Sad After 6 People Succumb To A Grisly Road Accident Leaving Several Seriously Injured

Prayers for your Dad

29 minutes ago

5 🔥

Prayers for your Dad

"Raila Will Soon Realize Ruto has Never Been the Enemy"-Kisiangani Sparks Reactions With Latest Post

35 minutes ago

150 🔥

Landlords who evict students to face six months imprisonment

53 minutes ago

30 🔥

Landlords who evict students to face six months imprisonment

Will Manchester United End City's Impressive Run?

1 hours ago

25 🔥

Will Manchester United End City's Impressive Run?

Best Poultry Guide For You

1 hours ago

14 🔥

Best Poultry Guide For You

Maria: William Confesses To Killing Maria's Father And Asks For Her Forgiveness

1 hours ago

123 🔥

Maria: William Confesses To Killing Maria's Father And Asks For Her Forgiveness

Matiang'i: You Can't Show Your Political Dominance By Causing Violence, We Will Deal With You

1 hours ago

14 🔥

Matiang'i: You Can't Show Your Political Dominance By Causing Violence, We Will Deal With You

Who Will Blink First? Why 2022 Politics Will Be Determined By These Three Leaders

1 hours ago

79 🔥

Who Will Blink First? Why 2022 Politics Will Be Determined By These Three Leaders

Miles That You Can Actually Travel When Your Fuel Warning Light Comes On

1 hours ago

75 🔥

Miles That You Can Actually Travel When Your Fuel Warning Light Comes On

COMMENTS