By: Nmerichukwu Igweamaka
What’s difference between the poor and the wealthy? Most people would say that the rich folks has more money than poor people, true?
But the actual difference between the rich and the wealthy is a thin line on how money is viewed not how much money either of them have. However it’s in how they see money and the kind of habits and actions they make regarding money.
Someone once remarked that if all the money in the world was evenly distributed to all the people on earth, most of the money would still fall into the same hands of a few individuals. Evidently, wealth is a mindset, and so is poverty.
These are some habits that will make you poor:
- Bad spending habits
It is said that most poor people only think of money as something they can buy things with. People like this tend to rack up a lot of debt before their salary comes in. They also try to gamble, in the hopes that they will hit the jack pot all at once.
If you’ve got bad spending habits, you’ll keep looking for money..! Money tends to multiply in the hands of people that don’t waste it and try to multiply it. That’s one of the lessons taught in the book ‘The Richest Man In Babylon’.
- You’re a time waster
Time wasting is definitely one of the habits that will make you poor. Yeah, you might think it’s fun to scroll through Instagram for hours and hours, liking and reposting content made by people who are earning thousands for every post they make, but rich people know that time is a valuable resource and treat it that way.
Invest your time wisely, don’t let the money that times gives get spent on unnecessary distractions.
- No investments or side hustle
If you don’t plan on how you can (legally) multiply your money.
You have the chances to live poor. All you probably do is spend your income and wait for the next one to come in. You’re looking for trouble if all your eggs are in one basket.
- Bad savings habit
People are generally advised to save at least 10% of their income, but most poor people will say that their income is too small to let them save. Rich people tend to save as much as 20% or more of their income.
Savings will always come in handy when needed.
And it requires real discipline to restrain ones self from tapping into his/her savings to spend on Frivolous things. Learn to discipline your self.
You’re free to share your comments on other habits that make people poor.