I could be completely wrong about this, however from my OWN views I think I can point out a noticeable observation. An observation my mother would always talk to me about.
Additionally, I thank her for making me watch the Suze Orman Show from time to time. The Can I Afford IT Portion of the show really taught me many lessons!!!!
If someone was poverty stricken, how would they cope with that? Would their spending be somewhat low to ensure their minimalist lifestyle can someday transform their financial situation into something greater?
Why are poor people going broke over expensive clothes/shoes that lose value after one wash or wear,
But the wealthy…….
- Wear Shoes until Holes appear(In most cases after)
- Wal Mart
As a representative of the poverty class, I say we should start revisiting the things we put our value in. A dollar saved is a dollar earned. If those $200 shoes won’t fly you to school/work, what’s the point? Let’s use what little we can save, and try to make great use of it. Let’s say a teenager(Peter) opted to buy a pair of $50 tennis shoes instead of $200 ones, that leaves $150 to do what he wants.
So what could Peter do with that $150:
- Build a website
- Start a Lawn Care Business
- Take a certification exam
- Buy a sewing machine & material
- Investing in CDs/Stocks/Bonds.
If you noticed the trend of those things, you would see that they all are ways to obtain profit. If you were ever in the poor state, I’m sure having that “Let your money work for you” mindset would advance you to higher economic classes.
I do believe that Poor is a state of mind or a temporary struggle. However, we shouldn’t keep ourselves there if we can’t help it.
Most importantly, we should invest more into education. I feel like this is
overused, but its not overused enough.
Save up those pennies for extra classes, extra seminars, extra conferences, and BOOKS!
Don’t let a pair of shoes that cost $20 to make, hold you back from a great financial future!!!!
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