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Why Is It So Hard to Escape Poverty

Why do we have so many poor people? Why Is It So Hard to Escape Poverty? What makes it so impossible to break the cycle of poverty? In today’s video, we explore answers to this question. Stick to the end as I tell you what you can do to break the cycle. So, like the video and buckle in. Now, why do poor people struggle to escape poverty? The Jews On How To Escape Poverty ▶   • The Jews On How To Escape Poverty   Subscribe To My Channel Insight Booth ▶https://tinyurl.com/ya9nlpz4 📌00:00 Why Is It So Hard to Escape Poverty📌 01:01 1- They Focus on Instant Gratification: Ask a poor person what they plan to do with their money today or tomorrow, and they’ll tell you without hesitation. But ask them their financial goals for the five or so years, and the answer is not so simple. 01:39 2- They Live on Credit: If there’s one group of people who can comfortably afford debt, it’s the rich. But they choose not to take it. Unless, of course, when they’re using it to make more money; more money than they’re actually paying back. 02:29 3- They Avoid Discomfort: Now, you would think poor people understand suffering and discomfort more than anyone else, right? The truth is most poor people stay in their current status quo because they are afraid of suffering. They want everything to come easy and, in most cases, are only willing to do just enough to survive. If something seems difficult, they won’t want to do it. 03:05 4- They Feel Powerless to Change Their Circumstances: Granted, experiencing a seemingly endless loop of financial hardship can make you feel like you are powerless to change your circumstances. Helplessness is a feeling that’s all too common among the poor. Maybe you were born into poverty, same as your parents and their parents before that. It can feel like your family is destined to remain poor. 03:45 5- They Don’t Have Savings- or an Emergency Fund: Unfortunately, poor people are terrible at saving money. Now, you may say that it’s because they are poor, which means they don’t earn much. But in many cases, even the poor have expenses they don’t need. And not to mention potential they could explore to increase income, even if a little bit. 04:32 6- They Don’t Have a Money Plan & Budget: Another reason many people stay in poverty is not having a money plan. What does this mean? Basically, a money plan is a breakdown of how you will use your income before it even hits your bank account. So, you have everything laid out, from bills to wants. A plan helps you utilize your money more efficiently, curb impulsive buying, and, more importantly, save. 05:08 7- They Lack Training & High-Paying Skills: In some cases, poverty, and the hardship of escaping it, come down to unfortunate circumstances. If you’re born into poverty, your parents may struggle to afford you the education and training that the rich can give their children. Depending on which part of the world you come from, you may not even be able to go to college. 05:39 8- They Invest in Depreciating Assets: Another reason many people find it hard to break out of poverty is they invest their money in the wrong things. Nowadays, people are more focused on trying to look rich rather than actually being rich. So, they will buy depreciating assets like cars, fashion and accessories, fancy home appliances, and so on. 06:24 9- They Avoid Conversations About Money: When it comes to money, poor people rarely, if ever, talk about it, whether it is at home or in social gatherings. The subject of money is almost like a taboo in many poor and middle-class households. 07:05 10- The System Doesn’t Want the Poor to Be Rich: Now, while the poor keep themselves poor in numerous ways, it’s not just their fault. The system, too, doesn’t want things to get better. The global economic system is sadly built on the exploitation of the majority. The system needs cheap laborers to work as it does. -------------------------------------------------------------------------------------------------- 𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...? 👍 Like the video (it helps a ton!) 💬 Comment below to share your opinion! 🔗 Share the video with anyone you think might help :) 📧 For Business Inquiries, and copyright issues: insightbooth@gmail.com Follow: ‪@insightbooth‬ Personal Growth Playlist:▶   • Personal Growth   Financial Education Playlist:▶   • Financial Education   Get Life Hacks Playlist:▶   • Life Hacks   ---------------------------------------------------------------------------------------------------------------- #escapepoverty #getridofpoverty #povertytrap #poorvsrich #getrich #endpoverty #howtogetrich #howtogetrichfast #insightbooth