https://www.youtube.com/watch?v=CejNi18TMJ4

There are many reasons why people remain broke and poor in life.

1. They have the wrong financial education of what is an asset and what is a liability. When we were in school, we were told an Asset is anything that belongs to us while a liability is something we do not own. I can tell you today that many poor people have liabilities that belong them. You are poor because you buy things that cannot bring you money.
You spend money on items that depreciate in value over time. You buy things that provide no value in making more money for you.

2. You keep working for money: [/b]TIME is very vital in this world, the more you work for money, the more the time you trade for that money. What this means is that you keep working in order to make money and when you do, you spend the money in buying more things that add no value to you getting more money. You then have to work again to make another money and so the cycle continues.
You must make your money to work for you. Use the money you get to set up a business or invest the money while still working. When you get more money from the business, keep investing it instead of buying liabilities. The more you keep investing, the more the money you keep getting and by doing this, it means your money has started working for you instead of you working for it. This will give you more time in the future.

3. [b]Lack of Financial Education: you need to know about financial management and how to make use of money and how to grow a business. Your level of knowledge about money determines how rich you will become. The more the knowledge, the richer you get. I am not talking about School education but practical real life scenarios of making money, managing money and growing your wealth. You can get this by listening to people who are already rich and successful and practising what they do.

Do you want to be financially free? SUBSCRIBE to my Channel on Youtube: https://www.youtube.com/channel/UCtgsFdj4G3oeus3a_MBPQ_g

Gj

good one

@op, in as much as i will agree with you on #2, i will also like to tell you that one need to enjoy life with money he made. You can invest with money you have but dont forget to live a life as well. I'm sure some of the things you were calling a liability are Cars,house,phones, furnished apartment, spending on love one etc. lolz, those are very essential in life and make life worth living.

I once believe in "saving,saving, saving for more investment" intil i realised that life is living me instead of me living the life.

yemmit90:
@op, in as much as i will agree with you on #2, i will also like to tell you that one need to enjoy life with money he made. You can invest with money you have but dont forget to live a life as well. I'm sure some of the things you were calling a liability are Cars,house,phones, furnished apartment, spending on love one etc. lolz, those are very essential in life and make life worth living.

I once believe in "saving,saving, saving for more investment" until i realised that life is living me instead of me living the life.

LOL, You can still enjoy life but you need to live below your means until you make it big enough to buy anything you want.

Nice article.