9 Reasons Why 99% of People Are Poor & How to Be Rich

byUchechiamara

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Updated 5 years ago

Nine reasons why 99% of people are poor it's hard to believe that poverty is still rampant in the world where we have many able beings that have the power to become anything we all put our hope up to achieve this and become that to become wealthy but only few are getting the buck and 99% are still poor if you're living in a country with a better economy you may argue with our figure because you think three to five percent of people in your country are rich but if you put that into perspective with the entire world you see that 99% of the world's people are still poor in this post we'll be sharing with you nine reasons why 99% of people are poor.

One most people put today's happiness before future financial needs.

99% of people don't really care about what the future will look like they are ready to spend their last money today only a happiness even if they will be hungry tomorrow most people live their lives based on the philosophy of leave your life today because you may die tomorrow so they spent without thinking about your future financial need which makes them land in poverty what are you willing to sacrifice today for your tomorrows prosperity.

Two most people don't know where their money is going.

Donor Friedman a personal finance expert and writer said the biggest thing she sees keeping people in the paycheck-to-paycheck cycle is not having a budget if you don't know where your money is currently going you can't turn it in the direction you prefer it will do the most good Friedman said is your money going the right channel or wrong channel you need to be very conscious of this the it will surely determine whether you will be poor or rich.

Three most people focus on saving money and not on earning money.

Don't get me wrong saving your money and not spending every piece of it is very important to building wealth however focusing only on savings and neglecting earning is not the way to go rich people focus more on Ernie they to save their money but they recognize that the key to getting rich is to focus on earning if you focus only on living frugally on coupons you might lose major opportunities like investing in the stock market or in real estate you have to have multiple streams of income and make your money work for you and the one way to do that is to invest it don't just stock your money in the bank and hope to get rich by accident you need to find any way to always earn more.

Four most people don't separate once from needs.

People generally speaking have a hard time differentiating wants and needs said grace and Bell a personal finance blogger at debt roundup they use the word need for almost everything the purchase causing them to actually believe they have to spend the money many people mistakenly categorized certain items as needs because they can't imagine life without it but when push comes to shove many of our needs are actually wants if you know the difference between needs and wants you can easily stop wasting your heart and dollars on mere wants.

Five most people are trying to have it all.

It's natural to overanalyze things but with more demands on your attention you may end up in a very bad situation because you may not have time to plan for what really matters people end up broke because they wants too many things too soon this is especially challenging for recent college grads who go from living on peanuts to having a livable paycheck but still can't realistically afford the new house the new car the nights out and the holidays abroad this gets practically dangerous when you start using credit to fund all those purchases which can creep all your future financial life instead of trying to have it all why don't you pick one big want to budget for and leave the rest for the future when you've had a chance to build up some savings and earn a pay rise.

Six most people don't have a money plan.

The biggest reason 99% of people stay poor according to le Martinez of couple money is not having a plan for their money it is easy to hope that there is money left over at the end of the month but many times our behavior gets in the way she says to curb behavior and work against bad spending habits she suggested automated bills saving and investing as soon as paychecks come in it will cushion the blow when emergencies pop up and you have something for retirement she said.

Seven most people are blocking wealth with the earth thinking.

Some people because of their children of breagan or religious beliefs think that they will never be rich they believe that being rich is a privilege awarded to a select view or the lucky ones they believe that well no one in my family is rich so I will never be rich yet most rich people were once poor and hardworking individuals if you think you don't deserve wealth you cannot be wealthy if you make excuses about the reason why you're poor you can't be rich.

Eight most people leave above their means.

Living beyond your means is pretty easy to do these days especially since we live in a time when buying on credit is normal even before some people collect their salary they have used half of it as credit on buying things they're not important most people leave a fake lifestyle buying things they can't afford to impress people who don't matter if you buy things you can't afford you won't get rich.

Nine most people always work for somebody else.

If you spend your whole life working for someone else the odds of being rich is slim to none again there are expectations if you're a successful attorney in a big law firm or a successful CEO of a major corporation and others you can become rich but if you a nine-to-five minimum wage worker with no other sources of income you will never be rich the rich people know that having their own businesses is the fastest road to wealth many people say not everyone can be an entrepreneur or investor but we disagree with that everyone can be an investor and most people can be entrepreneurs we are not just trained to do so if you want to be rich you have to seek financial education that will allow you to be rich you.