Four Basic Habits You Must Avoid If You Don’t want To Be Poor
Nobody loves poverty because it does not dignity anyone. Our society honors the rich while it despises the poor.
Besides, if you are poor, you won’t be able to meet your educational, vocational or personal needs.
Hence, there is a need for you and I to avoid certain habits that engender poverty.
Unfortunately, many poor people are not aware of them. Both the rich and the poor need to read this piece.
Because it will enable the rich to sustain their wealth while it will enable the poor to come out of poverty.
Four Basic Habits You Must Avoid If You Do Not Want To Be Poor
• Acquisition Of Liability
Unfortunately, the poor people are fond of purchasing liabilities and not asset.
An asset generates more income while liability decreases that income.
For an unemployed graduate, your car may be a liability to you. While the same car may be an asset to a driver.
Those things you possess that are making you to spend money without receiving any income are the liabilities that you have.
His substance also was seven thousand sheep, and three thousand camels, and five hundred yoke of oxen, and five hundred she asses, and a very great household; so that this man was the greatest of all the men of the east.
When the Bible described Job. He was described as someone who had so many animals that could be regarded as assets. No wonder he became the greatest in the east. It was the rearing of those animals that brought him a lot of money.
Therefore, invest in assets. Stop buying things to impress people. If you buy things to impress people, you will remain poor.
But if you buy things based on necessity and the ability of that thing to generate income. Then, you are ready to be free from poverty. Stop acquiring liabilities, rather, start buying assets.
Land is an example of an asset.
• Impulse Buying
Every prudent man dealeth with knowledge: but a fool layeth open his folly.
Buying goods and services impulsively will make you end up buying things you do not really need.
Refuse to be captivated by the outward appearance of products. Refuse to be captivated by catchy advertisements that you see every day.
Be determined to buy products that you really need. Whenever you want to buy anything.
Ask yourself these salient questions?
- • Will I survive without this product?
- • Is this thing/product important to me?
3. • Do I have other alternatives if I don’t buy this thing?
In other words, if that product is important to you and you cannot possibly survive without it. Also, if you don’t have other alternatives. Make sure you buy it.
Buy things with sense. Do not be quick to jump, pick products and pay for them. Make sure you need them before you buy them. You may need something and not want it.
Try to know the difference between want and need. You must learn to buy things with sense if you don’t want to be poor.
• Living An Extravagant Lifestyle
1 John 2:15
Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him.
There are people who earn meager salary or wages. Yet, they live above their ability and power financially.
My friend, if you have not reached the level to buy a wrist watch of #20,000. Why must you buy it when you know that your salary is just #30,000?
The reason why some people are wallowing in poverty right now is because of their insatiable crave for extravagant lifestyle.
Learn to live within your financial status. Must you buy every expensive product that wealthy people buy? Learn to accept where you are now in order for you to move forward.
You will be rich, if you can try as much as possible to lower your crave for extravagant lifestyle. Be honest with yourself. If you have not reached that level, don’t fake it. Be yourself!
• Inability To Save
There is treasure to be desired and oil in the dwelling of the wise; BUT A FOOLISH MAN SPENDETH IT UP.
Expressly, the Bible refers to those who spend all they have as “fools” So, it is a fool that will spend all the money he has at once.
No matter how meager your salary or allowance is, you must be able to save some money.
Ability to save shows your level of discipline. Honestly, once you get some money. Your ego will push you until you exhaust everything. But as someone who really want to be free from poverty.
Be ready to save some money for the future. At times, your savings may rescue you from miscellaneous expenses.
Start saving today. Who knows? Someone might want to sell something that you need to buy. What if you don’t have money at that time? You may miss out on that opportunities.
That’s why I always encourage people to save because nobody knows what tomorrow holds. It is an act of stupidity for someone to consume all he has once and for all.
A wise person saves not because he doesn’t have what he will use money for. But because he is a disciplined person whose knowledge of money is noteworthy.
I enjoin you to start saving now.
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