In this article you will see reasons why some people stay broke and complains of no money all the time.
Dumb Debt: You can see broke-people have iPhones and cars. They buy what they can’t afford to impress people they don’t like. In doing this, they either waste their income or collect credit-card debts. Which keeps them broke.
Exchange Time for Money: You limit your income when you only get paid for the hours you work. Poor People don’t see this trap. One only gets rich by multiplying their money. This can be done by smart investing in Stocks, Real-estate, Roth IRA.
Zero Personal Investment: Income is a ladder which you have to climb. The only difference between a general doctor and a heart surgeon is their skills. Most don’t increase their earning potential. Don’t invest in books, courses or coaches.
Negative Image: When we don’t have an explanation, we can think that the rich get richer by stomping on the poor. However irrational, these unconscious beliefs influence their action. It acts as an invisible glass wall when they try to make more money.
Zero Financial Knowledge: Schools have never taught us about the basics of money management. People are blank when it comes to dealing with debts or investing money. And unfortunately, they never make an effort to learn it on their own.