Secrets Of The Poor People

By: Ejaz Alam | Topic: Personal Finance

You may be surprised and might be thinking that what is the need to know about the poor people? Almost everybody wants to know that how people get rich and to copy them in order to reach the glory of wealth. Well do you think that the rich people have time to tell us their secrets of getting rich?


Instead of running after the rich to know their secrets, just spare some time and sit with poor and unsuccessful people. I bet they will open up every detail about their failure and the mistakes which led them to this stage.

Now the question is that how can you benefit from this. The answer is very simple, just learn from their mistakes and avoid what they have been doing and you will be on the way of getting rich. After meeting and talking several such people I concluded certain points which are common in all of them.

Lack Of Financial Knowledge

Most of the poor people had no clue that what the financial knowledge is. They only knew about earning and spending. Their math was poor and they can’t simply divide their income on thirty days. They had no information about dealing with money and it came and went. They are the true examples of the following quote.” I am so poor, I can’t even pay attention”. Their idea of the life is that one day we have to die, so why to care for tomorrow.

No Financial Discipline

Since they possess below average financial knowledge so they are mostly careless and lack financial discipline. They do not keep balance between their earning and spending equation. They mostly rely on golden expectations and let go what they possess at present. As we know that balance in life is the key to success but the poor people are always unable to maintain balance. As a result they always remain financially disturbed.

Unable To Differentiate Between Wants & Needs

As Vernon Howard very rightly said, “you have succeeded in life when all you really want is only what you really need.” Poor people are surely unable to differentiate between what is really needed by them and what they desire to have. Rather they go one step ahead and call it their demand. AND this so called demand must be fulfilled whatever the circumstances are.

These people surely fulfill their demand (want) even if they need to get loan or even have to forget other important aspects of their life.

Lack Of Family Cooperation

If we look this aspect from a certain angle, most of us will surely consider it as the most important factor for financial health of anybody. Poor people families never cooperate with them. This may be due to lack of knowledge, common sense, grooming or even due to weak personality of the family head.

Carelessness in Daily Life

Poor people do not pay attention to small things in their daily lives. They don’t care if the lights are on during day time, they won’t turn of the television when nobody is in the room etc. There is a list of countless small things which can save them a good amount of money. However they don’t care for the cents and forget that basic unit of 100 is 1 cent. Their money keeps on leaking through small holes drop by drop which adds up to a big amount by the end of the month.

No Investment Plan

It is very clear that if money is not invested, it will never grow to beat the inflation. Poor people never think of investing their money. They consider it as a laborious job, a risky game or they have their own excuses to avoid investing. As a result they are never able to increase their wealth.

The amount they own remains same and they continue spending from it till it gets exhausted. Had they invested it somewhere, they could have sustained for a much longer time.

Final Word

We can think of other reasons as well that why people remain poor. The above quoted reasons are some of the most important which affect the financials of a person. We should learn lessons from the mistakes of others. Avoid them and surely we will be on our way to financial stability.

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