Why You Are Still Not Rich
At least 50% of Nigerians live below the poverty line today and more than half of them believe their village people are the root of their problems. For others they blame the government, their environment or even their family for being in that particular condition. What most of these people fail to realise is that while the government is a bit at fault their decisions and actions are also reasons they remain below the poverty line.
One of such reasons is their inability to see beyond hurdles or challenges. Many think rich people have it easy for them or perhaps they even get paid for being rich. What they don't understand is that just like poor people rich people also face challenges but rather than dwell or complain repeatedly they find ways to go around it. While the poor man wallow in his problem the rich people build rockets or ladders to escape it and this factor will continue to widen the gap between these classes.
Another reason is your obsession with looking rich when you aren't even close to riches. While rich people are ok with wearing tees or other simple clothing items most poor people are obsessed with looking rich. They max out credit cards, take loans all in an effort to be counted worthy in the society. Money that could have been saved or invested is spent on luxury items that would eventually depreciate ; misplaced priorities. The earn like a pauper live like a king syndrome has trapped so many people below the poverty line without even realising.
For other people they spend excessively on events like weddings, birthdays and even grad parties. For example people who earn less than $300 a month are ready to spend over $3500 on their wedding. Yeah a lot of people hide under the "it is a one in alife time thing" yes it is but I don't even need a calculator to point out the fact that they would be in debt for a long time. This means the first years of their marriage would be full of arguments and frustration because balancing debts with daily expenses would be very tough. Instead on spending heavily on events like that, sticking to the basic is better so you can start a lifetime journey on a better foot.
Buying unnecessary items is another sure way to stay poor. Why buy a 500$ bag when you can get a better bag with even better quality to do the same job at a low price.By spending unnecessarily on items, savings and investments become an impossible mission. It means the hope of retiring early is cancelled same with becoming rich some day. It is advisable to earn more than you spend because once your expenses outweigh your earning poverty is a sure bet.
Becoming rich isn't a problem but the real problem lies in your readiness to sacrifice and discipline yourself to reach your goals. Until you start to make better financial decisions will you see positive changes in your life.
Greetings @valchiz very entertaining reading and although I do not know the status quo in Nigeria I think that this mentality prevails in all third world countries, we focus so much on appearing that we end up spending even what we do not have, I recommend the book rich father, poor father by Robert Kiyosaki will give you a broader view on the matter.
Thank you for such a valuable delivery
The reason why some person are still not rich lingers on so many things. If we say we should evaluate it we will discover that we won't be able to even state it all. They are still things bigger than just what you stated here, above all I believe what you stated are so real, I have seen people trying to impress people instead of focusing on their personal lives.
hello @valchiz,
one of the things that people don't fully understand is that while states do everything they can to make people poor, it is people's responsibility to get out of the state of economic deprivation, many are the vices that take over people on their way to wealth, like "spending more than they earn" or not caring about acquiring the skills that are well paid, as I always tell my friends "people want more money but they don't want to change who they are". In life you first change who you are and only after that your circumstances change.
I believe that "pretending to be rich" is a very common mentality and it stops many on the road to finding wealth, the idea is to be rich not to pretend to be rich, the luxuries come after achieving stability and economic independence, but many people want to enjoy the luxuries before achieving wealth.
Greetings my dear friend @valchiz, excellent your article, you reflect a reality that extends to many countries, particularly in my country Venezuela the same thing has been happening for many years, people like to live on appearances and spend the money they do not have in luxuries sometimes unnecessary, they spend all their salary before having it, in short they live in debt, I particularly think that if there is no economic planning and certain priorities are placed above the sumptuary expenses, they will continue in a vicious circle of working excessively and spending excessively to end up penniless.
So long brother, have a great week.
Greetings @ valchiz
These particularities of spending more than what we can is observed a lot in underdeveloped countries, and even more if we do not get carried away by emotions, That poor mentality is the one that does not let us think of better and more profitable situations that lead to be able to be more profitable in life. As they say in my pee we only live this once, but it is better to say that you tuck yourself in until the blanket reaches you.
Thank you very much for sharing
Most rich people if you are to judge with their dressing don't appear that rich but poor people will want to use expensive things and usually buy things they don't need just to impressed freinds and family that they are okay.
Greetings,
I agree with you that the concept of "it is a one in alife time thing" is completely incorrect and that this ideology will not make you wealthy. Instead, we must divide our earnings appropriately, such as spending, investing, and saving, so that we can do what we want while also having some money set aside for other important things in life.
Prioritizing is one of the most important things anyone can do to achieve financial stability and possibly riches.
It was a great read!