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5 Habits You Should Stop Engaging In If You Don't Want To End Up Being Poor

Nobody wants to be poor because rich people are honoured by our society while the poor are been overlooked by the society. Being poor always affect in every ways of life. Hence, there are certain needs for you to avoid some negative habit that leads to poverty.

These things are essential that poor people don't noticed it. Both the rich and the poor need to read this and digest very well. This will make those that are rich to sustain their wealth also it will give the poor power and knowledge to come out of poverty. 

Below are 4 habits to avoid if you don't want to end up being poor:

1. Acquisition Of Liability:

Most poor people are fond of purchasing liabilities and not asset. What is liability and asset? Liability is what takes money from your pocket. While an asset is a revenue for more income.

An asset increases and gives more income while liability decreases and inhibit incomes. For an unemployed person, your vehicle may be source of liability to you. While the same vehicle may be an asset to a taxi driver.

Thing's you do that makes you spend money without receiving any income are the liabilities that you possessed within you.

Therefore, locate an asset and invest in it. Stop buying lucrative things to impress people. If you buy things to impress people, you will continue to wallow in Misery's of poverty.When you purchase items based on necessity and the ability of that asset to generate income for you, then you are ready to be free from poverty.

Start buying assets from today. Stop acquiring liabilities. Land is an example of an asset. Investing in stock is an example an asset. Buying of shares is an example of an asset.

2. Impulse Buying:

With impulse reaction to things, you will eventually end up buying things you do not really need. 

Ignore to be fascinated by the outward appearance of products you see. Ignore to be fascinated by flashy advertisements that you see on daily basis. Be have the urge of buying only the products that you really need. 

If by any chance you wanted to buy things, always ask yourself this questions: (1.) Is this really important to me, if yes buy it. (2.) Do I have another choice if I don't buy these things, if YES buy it. Don't act very fast at your decision, when you haven't know if it is very more important to you and you can't possibly survive without it.

3. Living Extravagant Lifestyle:

Most people love to show there ability and power financially but they earn very low salary or income that can cope with the lifestyle. 

My dear, if your level as never reached to buy something of N30k, you don't need to buy it when your income is just N50k.

The important reason some people are wallowing in Misery's of poverty right now is because of their unquenchable crave for extravagant life.

Always Learn to live within your financial status. You cut your cloth according to your size. Learn to accept where you are now in order for you to move forward in life.

Always be yourself! If you haven't reached the level of spending extravagantly, don't fake it. You will be rich, if you can possibly lower your crave for extravagant lifestyle.

4. Inability To Save:

No matter how small your salary or wages maybe, you must be able to save money frequently. Ability to save shows how discipline you are. 

Always be ready to save some money for the future. At times, your savings can be the key to greater height. Start saving today. Who knows! One may want to sell important things like Lands, shares at a very affordable price, you may miss it if you don't have the money.

Saving always saves the future. It is an act of stupidity for someone to consume all what he has once and for all.

5. Understanding Your Goals:

If you get money suddenly, do not just think of enjoying and all human pleasures. Remember all the goals you had before you got the money and accomplish them. Nobody is entitled to poverty forever; so please work out your solutions towards achieving your goals in good time.

Finally, be optimistic and work to your best limits. I hope you have gained something. Everything needs handwork, determination and positive attitude. Thank you.

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

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