15 Possible Reasons Why You Are Still Poor

Poverty is not only a state of being; it is a state of the mind. You are still poor because you want to be poor, not because your parents were poor, or because you were born into a poor family.

 

Some people even holds the belief that poverty is a sin. Yes, a fundamental sin committed against one self and one future.

 

Below are the 15 possible reasons why you are still poor

#1. Your Lack of Self-Motivation is a possible reason why you are still poor

Motivation is the primary drivers of our work. Without the motivation, we would rather stay in the bed all day. Thus, ask yourself these questions;

 

What motivates me to work?

What do I love about work and how can I find motivation in life?

If your motivation bucket gets empty, find the source to refill the bucket and thrive.

 

#2. Lack of support system in your life, is the possible reason why you are still poor

Humans are not born alone and that’s why you have to find the people who can become your support system. Your support system helps you look at the brighter side of the things when you believe to give up in life.

 

Lack of a support system makes you demotivated. It makes you think that whatever you do in life would not be good enough. To find the support system, it can be one friend or one family member who always there no matter how hard things get.

 

You will be finding reasons to be better in life and get out of the financial problems to make these people happy.

 

#3. Not setting achievable goals in life, is the possible reason why you are still poor

One of the biggest mistakes we often do in life is ‘going with the flow’. I contradict the statement ‘Only dead fish go with the flow, Be the Flow’. Of Course, you cannot control everything in life but what you can control is your attitude towards it.

 

It said that 99% of things that happen in your life is result of your own actions, attitudes and feeling or how you react to these things.

 

How to find the balance even when all hell lose on you?

 

Set small goals, set timeline. Try to achieve them and appreciate yourself when you complete these tasks.

Hey, you are not doing it for anyone else, but for your own success. You are saving yourself big time through this one simple formula.

 

#4. Living in your comfort zone, is the possible reason why you are still poor

Don’t we all love comfort zones and stay in bed all day long and procrastinate about life?

Well, all these things are keeping you away from being a success and get things done.

 

It’s generally said that “Life begins at the end of your comfort zone” and it sure is true.

If you love comfort zones you will be living in a dark box looking for sunshine. Get yourself out of the comfort zones and you will be leaping mountains.

 

#5. Lack of Time Management skills, is the possible reason why you are poor

If you think you never have enough time to do what you love, then think about your priorities again. When you set your goals, you would be able to complete your tasks on time.

 

Thus, set goals and keep your focus in life. Even the most famous people, like Elon Musk, Bill Gates keep a calendar and manage their time. They are aware that time is money and money doesn’t come. Remember, time management is one of the best habits of successful leaders!

 

#6. Adopting Lavish Lifestyle, is the possible reason why you are still poor

If you adopt a lavish lifestyle. Going the extra mile with unnecessary things that you do not even use, you will stay poor. For example getting the latest IPhone, Bone straight hair, car or any other material things that are on trend.

 

If you see the richest people like Mark Zuckerberg wore the same t-shirt every single day. He prefers to spend a very simple lifestyle. Why?

 

Because they know that what being poor feels like. Adopting the lavish lifestyle to impress your friends will only make you poor. So save money and you will see that your savings will come in handy even when your friends do not.

 

#7. Relying on one source of income, is the possible reason why you are still poor

What we often mistake in life that one job is enough and only relying on a single source of income. To find another source of income you have to know what you are best at. Go, and practice the mantra of finding opportunities in the skills you learned.

 

Now you know that every learned skill is an opportunity for future income and growth. Now you are going to get out of the poor syndrome. Once and for all.

 

#8. You keep blaming other people for your mistakes, is the possible reason why you are still poor.

If you are in the early 20’s you would most find excuses that you cannot earn money yet because you are a student, this common phenomenon is dominant among West African countries such as Nigeria, Cameroon.

 

If you are always playing the blame game that things are not in your favor you are most likely to stay poor all your life.

Victim mindset never helps anyone. Holding others responsible for your actions is keeping your poor at this stage.

 

#9. You are spending more than you earn, is the possible reason why you are still poor

You get the pocket money every month and you get your salary every month, but how much are you spending and saving?

 

If you are spending more than your budget and do not have a long-term plan to save your money.

 

My advice? Record your expenses in a diary and keep the promise that you will not exceed the budget.

 

#10. You are Stuck in “Failure Syndrome” is the possible reason why you are poor.

If you love your comfort zones, then you are stuck in the ‘Failure Syndrome’. No, it is not a disease.

But staying in it forever and complaining about why are you still poor is worse than a disease itself.

 

Remember failures mean you are learning and it is natural to be afraid of failures. Failures are the key to Success!

 

You have to take “calculated risks” in life. Not failing at all is something you should reconsider.

After that, you will find yourself getting out of the penniless state in life.

 

#11. You Don’t Pay Yourself First, is the possible reason why you are still poor

“The No. 1 reason people end up poor is because they don’t ‘pay themselves first,'”. Paying yourself first means putting a portion of each paycheck (money you earn) into a savings account before divvying the rest out to cover expenses.

The general rule is to always pay yourself at least 10% of the total amount of income you make, no matter how small this income is, always pay yourself at least 10% in to a saving account.

 

#12. You Don’t Separate Wants from Needs, is the possible reason why you are still poor

“People, generally speaking, have a hard time differentiating wants and needs,”. They use the word ‘need’ for almost everything they purchase, causing them to actually believe they ‘have’ to spend the money.”

 

#13. You do not have a mentor, or the one you have is not good.

People who do not have money cannot be mentors to people who want to get money into their lives. We have a world of people, all who want to be looked upon by those who want to have money, but they haven’t acquired money themselves — they cannot give advice about money themselves. This is not a good mentor. Do not choose someone without ethics, even if he has all the money in the world.

 

Note that mentors come in various forms, some mentors you will need to meet in person while other mentors you will never meet but can have access to their daily lives on such media or websites. So if there is a particular role model or mentor you admire, follow them on the various social media pages and try to do what they do.

 

 

#14 You interact with the wrong; is the possible reason why you are still poor

You associate with people who have bad attitude — birds of a feather flock together, if the people who influence you are those who have bad attitude towards money and are always going the blame game route, you will have a problem managing your own life.

 

#15. Your Lack of Focus is the possible reason why you are still poor

You can’t be everywhere doing everything. Stick to one field and don’t stop until it is a success. Dangote is a business tycoon. He does not meddle in political affairs or sticks his head in the entertainment world. Discover your niche, follow it, preserve it and become it.

 

Concluding Remark

No matter how hopeless your situation appears, there is always hope for a brighter future. You’ve only lived half your life so why not make the necessary changes today for a better future? This is the right time to seek the wisdom of a financial adviser or successful mentors. They will help you identify where your financial mishaps lay and advice you on how to fix them.

 

If you are still not convinced on the reasons why you are still poor, let discuss this further in comments. Let’s hear your story.

 

Further Readings:

10 Things You Should Say Goodbye To In Your 20s

 

15 Powerful Quotes To Motivate You While You’re Still Unemployed

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *


Join Our Newsletter Today 

Be the first to get latest updates and exclusive content straight to your email inbox. 
Subscribe
SUBSCRIBE NOW
close-link