Whether stated or implied, it is almost visible that some habits, lifestyles or practices are signs or indications that one will become poor in life regardless of one’s current financial status, social class or standing.

To most people, the idea of becoming poor is unimaginable and often provoke the infamous ‘God forbid’ saying, but the sad truth is that many walk along the fine line of poverty; indicating that they may never become rich or wealthy at any point in their lives except they break away from practices, habits, lifestyles or behaviours that tick all the signs that they are destined to become poor.

Below are some of the major signs that you will become poor in the nearest future.

1. You are an impulsive buyer

Almost everyone has indulged in impulse buying at some point in time in their lives, which isn’t exactly bad. The danger lies with those who have made a habit out of it. Impulse buying happens when you buy something you never budgeted for or planned to buy. While the idea of buying an unbudgeted item or product can be thrilling sometimes, its downside is pretty bad and can result in financial wreckage, particularly for habitual impulse buyers.

Most impulsive spenders sabotage their own prosperity with the “I want it now syndrome,” which is characterized by spending beyond their incomes. This in turn leads to persistent fear, unremitting debt, and depression and feeds into a downward cycle of worry and low self-esteem‚ and the instant gratification of impulsive spending‚ deepening debts‚ more worry‚ more spending.

2. Your saving culture is terrible

If you struggle to save, then it is all the indication you need to know you are destined to be poor, regardless of how much you earn presently. A healthy saving culture means one is financially disciplined enough to understand how important savings are to building wealth. More importantly, saving culture teaches one patience, persistence and the value of short term decisions that pave the way for long term goals and dreams.

3. You are comfortable with a steady paycheck

A consistent paycheck is the dream of almost everyone but it also implies that it may never grow beyond what it is and worse, living paycheck to paycheck predominantly devotes their salaries to expenses. Living paycheck to paycheck could also mean living with limited or no savings and refer to people at greater financial risks if suddenly unemployed than individuals who have amassed a cushion of savings. In the end, it is almost like living in the moment with no hope, dreams or aspirations for the future. Those at the mercy of regular paychecks, oftentimes, do not break even. At best, they are often found in the middle class but this is never the case for most.

4. You live on loans

A major litmus test to knowing your financial standing in years to come is whether or not you live on loans currently. Living on loans has been proven to be one of the major ways one’s life can be derailed easily without having to do much. Other than the web of financial mess and emptiness, the negative side of living on loans is so devastating that some never bounce back no matter what. Whether your loans are sourced from family, friends or colleagues or from loan sharks, there are tendencies that debt addiction could set in. With addiction, debts from loans are seen as a crutch to deal with financial and personal problems. In the end, they control your life while you have no plan to escape.

5. You do not have emergency funds

Not having emergency funds says a lot about our financial standing without having to show anything else. Ask yourself; ‘how long can I survive if I lose my job today?’ The truth is that we have all experienced unexpected financial emergencies at some point in our lives—car troubles, an unplanned or unexpected medical bill, a broken home appliance, loss of income, a damaged mobile phone, etc.

Financial experts have often advised that dedicated savings or an emergency fund is an important way to protect yourself and insulate yourself from being either at the mercy of others or resort to panicking when less is saved. An emergency fund allows you to live for a few months if you lose your job or if something unexpected comes up that requires a fair chunk of money to cover. Many banks and financial experts suggest that you should save anywhere from three to six months’ worth of salary in your emergency fund. If you don’t have this, you should start saving today!

6. Your bank account balance goes down terribly every month

While it is totally normal and expected to have a ‘busy account’ all through the month, a telltale sign you may not be wealthy or rich in the future is seeing your account balance gets depleted only to have your monthly wage boost it temporarily ahead of the new month before it goes down and run through the vicious cycle all over the calendar. Financial experts opine that people whose bank accounts go down at the end of every month only to get a partial refill before going down again often live in the moment and might never be able to save or create the resources or opportunities to create wealth as it should be.

If you are living in the moment and having your account balance gets depleted instead of increasing every other month, then you don’t need to be told your expenses are eating you up!

7. You spend money before you get it

While budgeting is a sign of financial discipline, spending money before it comes may imply one’s expenses, wants as well as needs supersede one’s earnings or inflow which will impact one’s saving strength in the end. Although it is not out of place to have needs or wants, it is, however, important to prioritize and make plans for what matters the most. Spending every money before it arrives isn’t exactly a good sign.

8. You have no investments

For most low and average income, the concept of investment is exclusive to high earners and corporate executives only, believing whatever they make is never enough to be invested. While the notion is wrong, your investments are your keys to financial independence as they will likely save you during financial storms. Investments ensure that you have enough money to pay for your needs and wants for the rest of your life without having to rely on someone else or having to work in your old age.

Among some, there is the notion that investing is needless since they are pros and experts at saving. Saving generally means putting away money for later use in a safe place, such as in a bank account while investing means taking some risk and buying assets that will ideally increase in value and provide you with more money than you put in, over the long term. Compared to investments, savings does not yield profits that can guarantee the life you dream of. Start thinking about investing today!

9. You have an addiction

Whether ‘small addictions’ such as chocolate cookies or cakes; to mild addictions such as designer clothes, shoes, perfumes, wrist watches or bags to heavy addictions such as gambling, debt addiction, impulse buying and shopping addiction; the chances of addiction wreaking havoc to your finances is extremely high. People who battle addiction that often impact their finances are often projected to be poor years away from their present moments. And except they can find ways to curb their addictions, they might remain poor for life.

10. If You Have Nigerian Girlfriend

freshinsightng:
For those who believe so much in BetNaija, MMM, Chymall etc No 9 is for you. Getting rich involves taking deliberate and realistic steps towards such goal and not hoping on luck or a pyramid scheme.

Sleekfingers:



Oga, I can feed you and your families comfortably without blinking twice..

You think say na everybody wey dey on this useless forum , be broke ass like you and your poor father?

I don't know why most nigerians are always angry , when dem see someone living comfortably. If say na well to do people , caused their poverty....