Although poverty is difficult, there are instances when our actions make it more difficult to escape.
Let’s discuss five typical blunders and how to avoid them that can keep you impoverished.
Not Saving Money:
Not setting money aside for the future is one major error. We don’t have any money left over for emergencies or unforeseen costs when we spend it all at once.
When times are bad, even a small amount of savings each month can help us create a safety net and keep ourselves from sinking further into poverty.
Spending too much on wants:
While occasionally treating oneself is OK, overspending on wants rather than needs might result in financial difficulties.
Expensive clothing, technology, or entertainment purchases may seem nice in the short term, but they might leave us short on funds for other essentials like food, rent, or bills.