TEN REASONS WHY PEOPLE ARE POOR

1. Financial Illiteracy: The main reason for poverty is that people do not have enough knowledge about money, its law, how it functions, how to make it, multiply it, save it, manage it and retain it. While the rich is looking for ideas, the poor is busy looking for money. Money flows in the direction of ideas. Eighty percent of people who win large sums of money return to their old poor lifestyles within ten years because money came to them when they were not prepared to manage it. 2. How to make money is rarely taught in the major social institutions: home, school, church. 3. The five percent of people who own ninety five percent of the money in the world, hold the keys to prosperity in secret. The rest ninety five percent will continue to work for the increase of the resources of these five percent. 4. Formal education prepares people to work for someone else. The university does not teach how to make money or own a business. The professors do not know how to create wealth, so they only teach how to manage it. 5. Creating wealth requires wisdom that the foolish does not have. Nobody becomes wealthy by working for someone else. The only way an employee can become wealthy is by stealing from the employer. Your employer pays you enough to keep your body, soul and spirit together so that you can come for the next day’s work. That is how the top five percent keeps even the professionals and educated folks working for them to increase their money and keep on managing it for them. 6. Many people do not know the diff btw assets and liabilities in wealth creation (as different from accounting terminology). An asset is your possession that generates income for you, which also appreciates, while a liability is something you own that requires expenses on your part to maintain, it also depreciates. The car you drive for pleasure or to work is a liability, but its an asset if it is used for taxi. The poor acquires liabilities while the rich acquires assets. 7. Lazy people lack the hard work and the persistence required to make money. 8. The wicked cannot create lasting wealth because they are cursed by people and God, and they must also reap what they sow. 9. Many people do not have access to finance(credit). It is true that you need information knowledge and wisdom to make your first money. But in order to make more money, you definitely need money, which some people do not have, hence they have, hence they have remained poor. 10. Many people fail to distinguish between cash and profit, and they end up spending their capital before realizing it. Wisdom in money management is that you can only spend your profit, not your original capital….