These May Be The Reason Why You Keep Getting Broke [Must Read]
The world we live in is broadly divided based on economic stratification into two which is; the haves and the have nots. On a clearer view at those who are wealthy, and those who are poor, it is very clear that the difference between them is their daily habits sponsored by the realities inherent in their minds.
As you continue to go about your daily activities, there are habits you may have continued to practise that may be the reason why you may never become financially stable. So in this piece, I bring you 7 of this habit which, if you were sincere with yourself, you will both see and know that somehow you are defaulting in one or more of them.
(1) You don’t pay your tithe regularly
As simple as this sounds, it is the main basis of God blessing the works of your hands. The problem is that people calculate for God and therefore, cannot walk by faith. So they ask “How can I remove 3000 from 30,000 to give to one pastor who already has enough”. The truth is, no man has the right to receive your tithe, but you must however give it to God and this will always be done through men. You say you can’t pay tithe because you don’t earn enough and that is why it can never be enough even if you are earning millions. Tithe is important because it links you to divine supplies. That’s why some people earn 50K and live well while some others earn millions and are wallowing in debts.
Have you wondered why it is the time you are about to get paid that things that cart away your money begins to happen. For instance, it is at the month end that your kids suddenly falls sick and are hospitalized, or they call you from the village that mama is sick again. You better give to God what belongs to him otherwise, you will give your money to many other unnecessary things.
(2) Living above your means
There is one thing I know that wealthy people do. It is their discipline to always live below their means. When you live above your means, it is highly possible that you will always be in debt and when you are in debt, there is no way you will balance financially. You will always lament that there is no money even if you are a level 15 worker.
Another thing is that when you live above your means, you enrich the pocket of others at your own expense. For instance if the total income in your family per month is 300K, and you have 4 kids, then there is no need enrolling them in a school where you are paying at least 120K per term for each one of them. That will be too disastrous for your monthly budget because, trust me, there are many things you will need money for especially if you are a family man or woman. There are needs arising here and there, many of which are unplanned for.
(3) Spending before you save or not having a savings culture at all
This one is a shortcoming of most people especially Africans. Most Africans, Nigerians in particular, use the “spend as you earn” mentality, which is the reason they remain poor. The main cause of this bad habit, is that many people don’t recognise the difference between needs and wants. I will explain it using a funny analogy. It is like you are given a plate of Jollof rice with fish in it and you say if you don’t see fried plantain, you won’t eat it. My sister what is the difference between rice and plantain, are they not all starch?.
So all of a sudden, you want to change all your shoes when the ones you have could still be in good condition if only you regularly maintain them. You can overcome this habit by imposing strict financial management rules and regulations on yourself; and have someone you know is capable to monitor you.
(4) You invest in things and not in yourself
One of the most potent ways to be financially liberated is that you must make up your mind to invest daily in yourself(mind). It is painful that most Nigerians, especially young working class people have only learnt the way of buying(purchase) and not the principle of selling(investment). The average African only thinks consumption and not production. Little wonder why we remain the way we are. If you are to take a closer look at your life, you will see that your investments are mostly on gadgets(for the men) and for the ladies, shoes, bags and hair attachments. And when you sit down to calculate how much you ‘ve spent on these things, over the past four years, you will see that they are already spinning in to the millions. I mean why will you buy an IPhone worth half a million naira when a simple 30K android phone will do the exact same job for you. Why will a bachelor earning 70K be aiming to buy a plasma TV of 130K when its not that you are getting married or something. Well, am not saying you should not buy things you want, but try as much as possible to buy assets(things that bring more money for you) and not liabilities(those that continues to suck you dry). For instance, instead of a man buying an IPhone X that can be stolen in a minute, for half a million, there are places where he can buy 4 plots of land at that same amount.
(5) Increasing your expenses as your raise increases
All over the world, you will see in the news of workers going on strike action for a raise. The question is, how many times have the Government given them a raise in income; and sadly we have noticed little or no change in their lives at least financially. Do you know why? It is because there is a deception in wanting more money. It is that as you have more of it, you will always want more. This is because as your raise increase, your expenses will automatically increase because your appetite would have changed too. It is the reason you stopped using your old car and bought another one when your salary was increased. To conquer this, you must learn to outsmart this deception by learning to commit a certain percentage of your incomes to savings otherwise, you will remain the same.
(6) You have never given consent to acquire knowledge on financial intelligence; all you want is money
Let me ask you, how many times over the last five years have you taken time to really read books, take a course or attend a seminar on financial training or a study on money making and money multiplication. So all we do is to work for money and be happy to spend it to the last kobo and we wonder why we continue to complain there is no money. A lot many of us does not even know the laws governing the administration of money. All we know is, make it and spend it. Let us receive financial sense this year.
(7) You have refused to acquire new skills that will boost your income
One problem with Nigerians is that we do the same things all our life, a lawyer remains in the law court, a hairdresser remains one till she dies, a tailor remains one till Jesus comes. This ought not to be so. You must know that financial increase comes when you have many streams of income. Do you know how many businesses an average rich man ventures into? If a farmer remains a farmer, what will happen the year the rains refuse to come? Will he and his family eat sand? You now see why we should acquire multiple skill. Little wonder why, when a man is sacked, his whole world crumbles. You should try as much as you can to learn so many things and master them, don’t be Jack of all trade, master of non. Thank God we are even in the ICT age where a lady can learn bead making just by seriously following the procedures as given in a YouTube video on her smartphone and a man can learn programming online without paying a dime.
After reading this article, you will agree with me that we have a lot to do in order to escape the clutches of poverty.
So, if you were inspired by this article, do like and share it with your friends.