Why Most People Cannot Become Rich (Generation to Generation)
THE MONEY IN YOUR MIND
Why Most People Cannot Become Rich (Generation to Generation)
Is it a bad thing to be wealthy or be abundant in riches? Eclessiastes 5:19 says " Moreover,when God gives any man wealth and possessions, and enables him to enjoy them, to accept his lot and be happy in his work-This is a gift of God." This verse in the Holy Bible hammers the fact that, there is nothing wrong with creating and amassing wealth the right, ethical or moral way, and I believe the Holy Quran and other religions also have something in support of this assertion. The Chapter 6:2a further states the reason why God wants his people to swim in wealth or riches as opposed to wallowing in abject poverty. It states, "God gives a man wealth, possessions and honour, so that he lacks nothing his heart desires. King Solomon also requested God not to make him too poor so that he will not be tempted to speak against Him (God). The aforementioned make it clear that it is not a bad thing at all to get rich and accumulate wealth. Some of the main reasons why we need to endeavor to move from the poverty line or living from hand to mouth (The rat race include) but not limited to:
1. Money is life. If you have enough, you have hope and calmness
of mind. There is no stress and anxiety.
2. Money is health. With money, you can eat the best of food,
drink the best of water, buy the best of medicine, visit the best hospitals
among others.
3. Money is Happiness. A family with enough money is a happy
family who can visit the best of places, take kids to the best of schools, get
a spouse his/her heart desires and subsequently translates into happier
relationships.
4. Money brings honour and respect since it comes as a result of
discipline, self control, dedication and hardwork. The rich are more able to
contribute much to society and impact lives better, among a lot more.
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If these and many more advantages exist for the rich and wealthy, why is it then that most people are still living in poverty? Why is it also that people who inherited great riches loss them over time and why are some families still remaining in their poor states from generation to generation.
Before we attempt to answer these questions, let us look at some
few habits and qualities of the rich and wealthy. The rich and wealthy are
generally hardworking, disciplined, have self control and are dedicated to what
they do. They create a system or systems that generate money for them while
they sleep. Majority of them are their own bosses. They have a strong habit of
living within their means giving them the ability to do long term savings and
ultimately use the accumulated funds to seize investment opportunities that
come their way.
Now back to answer the question "reasons why most people are
poor?" Most people have weak or poor savings habit. They work, make the
most and spends all 100% of it before the month ends. This attitude is linked
to impulse buying. Such people have no monthly budget guide to spend. Anything
they see in a shop they admire or like, they throw money at them.Remember that,
anytime you spend money, you give to someone else to realize their dreams,
whilst you deny yourself. So the best thing to do is to pay yourself first by
setting a percentage of your income aside. I recommend between 10 to 25% every
month. What most people forget is that, small drops of water makes a mighty
ocean. A little money you set aside will grow into something big, especially if
compounded.
Another reason why most people are not rich is that they live out
of their means instead of living within their means. They don't cut their coat
according to the size of their clothes. They copy and replicate blindly what
other friends and relatives are doing. For instance if a person's take home pay
is $1500, instead of purchasing a simple, low consumption fuel, with cheap
spare parts, he turns to go for a huge bank loan to purchase a luxurious
vehicle which will result in high monthly loan deductions. Thus depriving him
of the ability to save. To be wealthy, it is important that you defer or
postpone instant gratification in order to enjoy in a later time. In other
words, do not eat the chicken, eat the eggs so the chicken remains to produce
more eggs.
Also, most people fear to take risk. They always want to remain in their comfort zones. They therefore prefer working a white collar job with a meager but assured salary at the end of the month. Let me state here without any fear of contradiction that no one working for a monthly salary has ever been able to make it so big financially. It will just be from hand to mouth. To create wealth, create a job or look for a system that will work for you and bring in money even while you sleep. Take calculated risks and keep trying. It is better to try some businesses and fail than to remain a worker for somebody for life and live on peanuts.
Moreover, the inability to manage risk properly can lead to
someone losing an already accumulated wealth. In other words, if you have
inherited wealth or already rich and you don't mange it well, you can lose all
in just one generation. Like the saying goes, never put all eggs in one basket.
This is the principle of diversification. Venture in low risk, medium risk and
high risk ventures. For instance invest in real estates, invest in money market
and have some investment in the capital market.
I therefore state that these habits gradually erode the
possibility of one becoming wealthy and when altered could lead to a
significant change in ones finances. Thus leading you to becoming rich or
wealthy over time.
GARCINIA CAMBOGIA
HORNY GOAT WEED PREMATURE EJACULATION CURE
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