Why you are poor?

The thought of dying poor independent probably makes you cringe...doesn't it?

To be honest poverty scares all of us but while many people strive to live their best lives and avoid poverty only a few people manage to build an impressive amount of wealth as it turns out it's impossible to get rich.

If you keep repeating certain financial mistakes which is why in this blog post here , i'll be sharing with you five mistakes that keep you trapped in poverty

The first costly mistake that will subvert your efforts to become rich is risking everything on one endeavor the thing is if you truly want to ditch the broke lifestyle it's time you realize that one idea won't solve all of your life's problems for you to get ahead you have to keep setting new goals for your personal life career or your business.

For example,have you ever wondered why millionaires wake up at dawn to go to work... i mean these are individuals who have had their big breaks in business they should be spending their days vacationing in the bahamas and sipping cocktails without a single worry in the world,right,it turns out this is a poor person's mindset that you need to abandon
Now the thing is viewing financial success as a destination is one of the reasons why you're still poor instead, start viewing success as a journey that never ends the promotion you're yearning for isn't enough to pull you out of your financial mess and meeting jeff bezos won't necessarily exalt you to greener financial postures.

If you want to accumulate true wealth start developing a healthier mindset,that doesn't trick you into believing that your dream job will whisk away all of your life's problems and most importantly, you need to develop a mindset that reinforces consistent hard work and commitment towards your long-term goals this is because building true wealth involves making money growing, it and protecting it at all costs you can achieve all of these with one job or one big business break therefore for every goal that you manage to stroke off your vision board set another one that's even more challenging.

If anything increasing your income automatically takes along a new set of financial needs as you earn more money you want a better lifestyle and to sustain, it you'll need to work harder and look for more opportunities probably that genius idea you presently have is only one piece of the puzzle don't settle mistake number two not aligning your actions to your goals.

Another Mistake

Secondly you're likely to remain trapped in poverty if your actions contradict your goals because while it's easy to set lofty goals acting on them is where the rubber meets the road unfortunately most people challenge themselves to high-end ambitions yet their actions speak the opposite .

For example there are people who set high income goals yet instead of looking for additional sources of income they waste their extra hours playing video games or sleeping,if you fall in this category, sorry but your chances of becoming financially free are slim so how can you abandon this lifestyle and develop a goal-oriented mindset ,it's simple once you set your mind on achieving something the next step should be inching towards your target, writing down your goals on paper is a great starting point not only does it mirror the level of seriousness you attach to your goals ,but it also triggers a constant reminder that will push you to execute them after writing your goals down.

The next big step is to take action action is the single most important factor that connects your present goals to your dream life ,start by acquiring useful information about your goals, if you're a blogger read successful blogs within your niche,if your goal is to start a side hustle subscribe to youtube channels that talk about money and ways to earn more income,by reading material that's related to your goals,you will align your thoughts to your ambitions with a rich bank of information.

You'll be better positioned to write down realistic and achievable goals from here ,the next step is to create a plan that makes it easy for you to align your actions to your goals,the easiest way to do this is to break down your goals in a way, that's easy to digest every single day aim to accomplish at least five things that will contribute towards making your goal a reality part of these tasks may be uprooting negative habits ,that impede your efforts ,if your aim is to save a thousand dollars every month.

For example, you can commit towards sacrificing a cup of starbucks coffee every day because if you intend to save more money ,it's only prudent for you to cut out some luxuries from your budget ,however, if you continue to overspend on things you don't need you're less likely to achieve your target savings amount,there's no denying that this is easier said than done the secret for aligning your actions to your goals is to develop a deep sense of discipline commitment and patience , it may be hard but it's not impossible mistake number three not seeking ways to increase their income,you're likely to remain trapped in poverty if you fail to actively seek ways to increase your income research , indicates that the average millionaire has seven streams of income .

The fact

Yes,that's right unlike you your favorite millionaire , does not risk their future on their nine to five job property or their business , they have money flowing in from numerous different directions which makes them better position for financial success similarly diversifying , your income sources will greatly contribute to pulling you out of poverty ,how you ask well the truth is increasing your income is the easiest way to build solid wealth not only does, it enable you to save money and invest more money but it also cushions you against economic downturns also known as recessions and economic downturn refers to a period when the economy experiences poor performance causing businesses to slow down and companies to shut down in the event of an economic recession .

For example a financial analyst , who loses their job will manage the hard times better, if they were running a financial blog on the side or if they had a rental property earning the money someone who had only their job on the other hand will probably end up steeped in debt because they had no contingency plan also the benefits of having multiple streams of income spill over to your investment habits.

You're more likely to take risks if you have another income source to back you up keep in mind that when it comes to investing money incurring losses is always a possibility .However , the repercussions of incurring a loss will be less , if you have other ways to pay your bills and keep things moving as you can see this is how high net worth individuals get ahead of the game but again , it's plain truth that actively splitting your time among seven jobs is a pipe dream with only 24 hours in a day even flipping between two or three jobs, is impossible for some people well the good news is there are passive income generating activities that don't require much physical input assuming , you're a good writer for instance you could create a niche specific course that costs 20 dollars following the hours spent creating the course , you continuously generate revenue without putting in extra hours , if you sell the course to a hundred people a month , you will have two thousand dollars just like that of course , it's not as easy as they make it sound but it's not impossible either other ways of making money include blogging offering coaching services.

If you possess a desirable skill or buying into cash producing assets like stocks bonds and rental property the first step is to identify something you're really good at or passionate about then devise loopholes for generating income from it mistake number four failing to self-invest you want to get rich get out of your comfort zone and start investing in yourself while many people often overlook self-investment, it has great potential to transform financial lives this is because you're constantly evolving into a better version of yourself .You're highly likely to attract valuable opportunities also you perform better when you're healthier happier and more competent this is why if you aim to attract more income you need to start bettering yourself both at a personal and professional level the first step is to understand what self-investment means according to you this is because self-investment can mean different things from working towards , improving your physical and mental health to developing skills that make you more marketable in the job market

Take an action and solve your problem

Let's take health and wellness ,as an example, no doubt this is an unmatched form of self-investment , probably the best investment you should take up without taking good care of your body and mind you're only inviting avoidable stress illnesses and low energy levels , outrightly investing your health will enhance your performance at work and boost your productivity on a personal level once you point out a definition the next step is to commit enough time and energy to achieve a better you .

For example , you could start reading books on how to achieve your fitness goals maybe you can even set aside 30 minutes every day to take a walk cook healthier meals or work out at the gym with time you'll find yourself getting stronger relaxed and pumped up to work faster and deliver better results.

Other ways of investing yourself is through sharpening your professional skills, this can mean taking up an entirely new skill or polishing your existing ones by expanding your knowledge , it can imply reading books going for higher education playing mind games or attending training that increases your career competency such forms of self-investment sharpen your brain and increase the value you offer your business or your employer in the long run you'll have a competitive edge. When it comes to securing a promotion or a high paying job i strongly recommend platforms such as skillshare , youtube.

Spending time with unmotivated people lastly another mistake that will keep you poor is spending time with unmotivated people there's a popular phrase that says your network is your net worth , in short you can attach a financial value to the people you hang around , if your network circle is made up of rich ambitious individuals who don't settle for less your chances of building wealth are higher , if conversely your network consists of broke demotivated fellows , who are steeped in debt your chances of beating poverty are almost nil why is this the case you see human beings are creatures of habit , this means that whether good or bad the habits you expose yourself to are likely to blend into your personality

If you're constantly hanging around people with negative habits , you're likely to absorb those negative habits as your own , this is why if you want to become successful , start surrounding yourself with goal-oriented individuals build solid connections with people , who are hungry for better opportunities and determined to get to the top spending time with motivated people will inspire you to stay energized and achieve your goals .

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