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If You Don’t Want To Be Poor, Avoid These 6 Money Habits

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What you do every day determines whether you end up poor or rich. You may not have control over what happens tomorrow, but you can decide what you do today. 

In this article, we will take a look at some habits that may likely keep a person poor.

1. Working on poor money advice from poor people 

In life, you will meet with people who haven’t achieved success but are eager to dish out poor money advice. Growing up, you might have been told that the way to wealth is to have a university degree and secure a good-paying job. In our society today, there are millions of graduates roaming the streets without employment.

Having a degree is not bad, but thinking it will make you rich is where the problem lies. The brutal truth is, you won’t be rich by being an employee. Don’t depend on your certificate alone, learn more valuable skills.

2. Depending on luck

Lottery and gambling is not a good strategy to wealth. Nobody will pay your bills if you depend on luck. Poor people believe the rich were just lucky to have the right connections and business ideas. The earlier you get rid of this idea of luck the sooner you will start experiencing improvement.

Don’t leave your life to chance. Prepare and plan for your goals to materialize. The rich are always thinking of ways to get better. Success is not by accident, so don’t depend on it. Luck is for the poor.

3. Spending on things you don’t need

Poor people spend their hard-earned money on things that have no value. Poor people spend on flashy things to look rich. To them, looking rich is more important than being rich.

If you are spending money to impress people instead of investing, you may not become rich.

4. Not budgeting

Poor people don’t know how much money they spend weekly or monthly. Ask a poor man how much money he spent last week and he wouldn’t be able to give you the figure. Poor people complain they don’t have enough money but they don’t know how they spend the money entering their hands.

5. Having only one source of income

Poor people believe working a job is the only way to make money. Remember it was earlier said that working a job will never make you rich.

The more streams of income you have the less you are likely to go broke. Rich people always have many streams of income. If you can only earn money when you work, you may not become successful. You have to look for ways to earn while sleeping.

6. Wasting your money and time on entertainment 

Both the rich and the poor have the same number of hours in a day but the difference is what the time is spent on. While the rich are investing money and time developing themselves, the poor are wasting the same on pleasure.

If you wasted your 20s on meaningless things, you may get broke in your 30s. There are consequences for our actions. If you want to be rich, spend time on creating more money than spending it