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Top 5 Reasons That Are Keeping You Poor

At some point in our lives, most of us have aspired to become rich. When you were a kid, you may have dreamt of becoming rich enough to buy all the candies and toys you ever wanted. Or perhaps when you were a teenager, you dreamt of having enough money to sustain a rockstar kind of lifestyle. Or maybe you’re more of a down to earth kind of person who just wants to be rich enough for you not to work another day in your lifetime.

But the reality however is, not everyone becomes rich. This is not because money is a limited resource or because you are not putting enough effort into it. If you know that you are working hard to become wealthy but still end up often asking yourself “why am I poor?” or “why am I so broke?”, it might be a good idea to stop what you’re doing and assess what is truly preventing you from becoming rich. In this article, we will be discussing the biggest reasons that are keeping you poor.

Being “Poor” is a state of mind. Your subconscious way of thinking may be hindering you from taking action to make yourself rich. Being poor is not caused by external influences, but by your own internal thought patterns.

It is important to understand that being broke is different from being poor. Money can always be earned to improve your financial standing. However, having the wrong mindset about money can create a huge obstacle for you if you want to get rich.

Here are 5 reasons that may be stopping you from reaching the higher end of the financial spectrum:

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When you are blaming your circumstances in life for not being rich, it is already a form of acceptance that you’re not going to be rich. That your circumstances are the barrier that prevents you from reaching life’s greener pastures. 

Not all people were born with a silver spoon in their mouths. We get that. On the other hand, not all rich people were born under fortunate circumstances. You’ve probably encountered several stories of how people went from rags-to-riches. These are stories of people who were born under unfortunate circumstances but still end up getting there. 

Rather than dwelling on the circumstance that already exists in your life, start taking action to get out of your unfavorable situation. Creating your own circumstances is a mindset that you should have if you want to be rich.

“If you are born poor it’s not your mistake, But if you die poor it’s your mistake.”

–Bill Gates

“Help I’m poor.”

This is something you won’t hear poor people say, very often. Usually, we try to justify why we are poor. Rather than admitting that the main issue is that you have a poor mindset, you try to come up with an excuse of circumstances that led you to be poor. 

Avoiding the root cause will not solve it. What you need to do is to look at poverty and how you think about it, as the main issue and if you can admit you don’t have the answers – Ask for Help.

Of course, no one wants to focus on a bad financial situation. It’s just that maybe the way that you’ve been approaching it is not the way to solve it. If you find yourself stuck in a financial loop, do not be hesitant to seek help. Look for financial advice from someone credible. Having a “good” financial mentor or taking advice from an accredited financial advisor is a great start to gain financial awareness. 

In reality, many rich entrepreneurs are willing to share their personal journeys toward success. They already learned by trial and error, and all we have to do is learn from them. As they have something to show for it, there is very little room to doubt their credibility.

Allocate a good amount of time to learning what you need. Taking this small step will be beneficial throughout your lifetime.

Abraham Lincoln, Walt Disney, Donald Trump.

There is no doubt that they are people that you can associate with a life that’s free from financial worries. But in reality, what they have in common is that they are people who had experienced bankruptcy before they managed to make a name for themselves. At some point before their success, they all took risks and failed.

The term “low-risk, high-reward” only exists in the lottery. In reality, if you want to make significant gains, you must be willing to take a significant amount of risk along with it.

There are no shortcuts to getting rich. It is achieved through a series of correct actions, guided by the correct mentality. What some of us fail to understand is failing is not an entirely negative thing. Sometimes, failing can also be a correct step you need to take to get closer to your goals.

“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” 

–Robert T. Kiyosaki

Failure is not life’s way of shutting you down, but instead to prepare you for something bigger. Instead of viewing failure negatively, take it as a learning experience.

As you are on your financial journey, you will eventually reach a point where your income is higher than your actual expenses. You are free from monthly debt and you can save a part of your regular income.

Of course, being free from debt and having fewer worries with our finances feels good. But sometimes, it gives us a false sense of accomplishment. This makes us feel that we’ve already reached a point where you can live comfortably. 

Making a particular income zone your comfort zone is detrimental to your financial growth. There is no such thing as a middle point between your goals. When you stop growing, it is the same as going backward.

When you see a luxury or sports car drive by you, you subconsciously judge the owner of this car is someone you wouldn’t get along with without actually meeting him. When you see a lady covered with expensive pieces of jewelry, some of us automatically assume that she’s digging it out of her man’s wallet without knowing where it came from.

If you have a subconscious bias towards rich people, this may be another reason why you are not getting where you want to be. Why would you wish to become a person who you don’t like in the first place? Seemingly, this bias also goes with how some people view money as the root of all evil. But in reality, the biblical passage points to the excess “love of money” as the source of all evil. 

While there are a multitude of reasons how this kind mentality became a common mindset of the poor, the real issue here is that having this kind of mentality within you can be the reason why you are stuck in your current financial circumstances.

Money does not grow on trees. It is certain that somewhere along the line, someone worked hard to earn the luxury they are experiencing today. Give the rich the respect they deserve. Instead of feeding your negativity towards them, aspire to become one of them. 

Takeaway

The road to success is rarely easy. But in this digital age where information is readily available, it is easier for us to build the knowledge and foundations that we need to get rich. Take charge of your life by creating your own circumstances and nurture a growth mindset rather than submitting to a fixed mindset. 

Building startup capital may pose some challenges, but you can focus on developing the right mindset to prepare yourself for riches. With the wrong kind of mentality, it is possible to have money but still feel poor. On the other hand, having the right kind of mentality may get you broke at times, but never poor.

We’d love to hear how having the correct mindset helped you achieve financial freedom. Let us know in the comments below.

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How To Escape Poverty

Tommy P.
Tommy P.

My very first thought when I became aware of my very own consciousness in this earthly world was... "whoa... why are we here? what's the meaning or purpose to life?" I was never able to shake these questions... So come join me on my podcast of rants on many different topics that will assist you in seeing things through a rose-colored lens and on living a life of well-being.

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