No one desires to be poor but “if wishes were horses, even the beggars would ride”. The path to riches is not that easy as it requires a lot of discipline, tenacity, financial intelligence and sacrifice. The moment we are born, we begin to have experiences which play a very crucial role in forming our habits.
Our habits are simply what we repeatedly do without necessarily thinking them through. They’re quite automatic.
And so there are some habits that if mastered, will definitely pull us into the grips and shackles of poverty. Let’s take a look at some of them.
Spending more than your income
This is the easiest and most proven way to become poor. In fact, the moment you begin the journey on this road, poverty will always catch up with you. Running away from this requires a basic understanding; “do not buy what you cannot afford”. You have to develop a basic understanding that you have nobody to impress.
Lusting after the properties of others
It is closely related to the first point. Here, we must be content with what we have. There is no need to lust after the properties of others whiles you know very well that you are not in the position to afford what the others are using. You have to be as pragmatic as possible and eschew envy.
Not paying attention to where your money goes
BUDGET, BUDGET, BUDGET! A lot of people do not have budgets and just spend the money as it comes. It’s a risky attitude which will always prevent you from knowing what you put your money into, because literally, money has wings, and the moment you leave your door open via a lack of budgetary allocation, the money is going to fly away.
Getting a loan to purchase items which depreciate in value
Taking a loan in itself is not a bad practice. However, the concern here lies with what the borrowed money will be put into. A loan must be repaid and so if you take a loan to buy a private car which will not play any role in increasing your income but instead increases your expenditure, how will you pay back the interest in addition to the loan? Question for the gods, eh?
Waiting for the perfect time to begin saving
The only perfect time to start saving is NOW. But the one who’s poor in mindset will always be waiting for that big paycheck in order to save. Also, if you look at savings as an end in itself but mot as a means to an end, you are going to keep waiting.
But need I remind you “time and tide waits for no man”. Do not wait to earn that fat salary before you think of putting something down. Saving is a habit which must be developed, and it requires a lot of discipline too!
Following the crowd
“Majority isn’t always right and because everyone is doing it doesn’t mean you should also do it. You are not everyone, and you are YOU”. A lot of people, especially the young ones, are caught in this needless obsession of owning the latest gadgets just because everyone is rushing to get one. Ei! KOO! CHECK YOUR POCKET O!
Not taking note of the “little things”
Oh it’s just 20 cedis, oh! It’s just 5 cedis, poverty will also knock at your door and forcefully enter. Poverty will say to you, “I’m only poverty”. We must not think of any money as irrelevant because it is little drops of water that makes a mighty ocean.
Investing money in things you are not knowledgeable about
This is one of the surest ways of wallowing into poverty. You must make sure that before your money is invested into any venture, you must conduct a lot of research into that venture, weigh all the pros and cons as possible before letting go of that hard-earned cash. Remember, “ONLY FOOLS RUSH IN!”.
You cook without taking into consideration the number of people to be fed, and before you can say Jack, the food becomes so much so that you’ll have no option than to discard the ones that weren’t consumed. AYOOO! KEEP N KEEPING ON. POVERTY DEY LOOK YOU WITH ONE EYE!