Poverty is one sad experience that is dominant in many African societies. According to research, it is discovered that a vast majority of the people in Africa are poor not necessarily because of their family background or parental lack, but as a result of their lifestyles and the things they indulge in.
Regarding this article, we shall be examining some lifestyles or habits that are capable of driving a person into a life of lack and penury. Below are some of them.
1. Spending more than your income or earnings.
The attitude of spending beyond your income or salary is one proven factor that can instantly lead a person to a life of financial emptiness. This sort of attitude can be stimulated by greed, showing, seeking to impress people or thriving to reveal your level of sophistication and worth before others. The idea of saving to buy a Lamborghini for the purpose of showing off when your salary is barely fifty thousand naira is one idea that will lead a person to poverty.
2. Seeking a get-rich-quick scheme and disregarding the place for hard work.
Seeking to become instantly rich by investing heavily in Ponzi schemes and illegal venture is one approach that will most likely give room to a life of debt and lack. Many persons have disregarded the place for hard work, skill and character development into venturing an effortless quick money-making system that can give rise to regrets in the future.
3. Avoiding risk.
‘Show me a man who is afraid to take financial risk, and I will show you a man who is poor’. Taking risks is one of the fundamental requirements to building wealth and financial freedom. However, it is important to know that not all risks are worth taking. For instance, before venturing into any form of risk as a businessman or entrepreneur, it is imminent you first consider some factors which include; the legality of the project or task involved, a proper understanding and know-how of the task, your chances of coming out successful, and also learn the phenomenon of risk management and taking a calculated risk.
Pushing into the future; important task most especially financial related matters is one lifestyle that can amount to a life of regret and poverty. This is an irresponsible act that can truncate the life and destiny of a person if continuously practised.
Content created and supplied by: OsPrince (via Opera News )
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