Few Reasons Why Some People Are Rich And Others Poor!

Rich & Poor

Hello, trust you had a great weekend? Today I will be sharing with you a few reasons why some people are rich and some poor.

Often times we think some people are created rich while others poor. How so wrong! Why then are some people rich and others wealthy? God did not choose some people to be wealthy and others to be in need. Neither destiny nor luck has anything to do with it. Some people are rich because they do things in a certain way that those who seem to be poor don’t. The rich work smart, make the right choices, see opportunities and maximize them, while the poor do not.

Here are some pointers to further buttress my point:

1. The poor eat their seed, whereas rich people sow or invest their seed. The rich understands the act of multiplication and compound interest. Compound interest is man’s greatest invention as quoted by Albert Einstein.

2. Poverty is lack of savings and investments, whereas the rich understand and practice saving and investment.

 3. The poor want to live like the rich, so they spend their money on luxuries. The rich, however, never spend; they multiply their money by investing in assets then live off the overflow.

 4. The rich know how to identify opportunities by taking well calculated risk but the poor do not see opportunities. Rather, they Pass Over Opportunities Repeatedly.

 5. The rich have the “can do” mindset, but the poor rely on miracle and luck (“Lazy hands make a man poor, but diligent hands bring wealth” Prov 10:4 NIV). This can also be attributed to lazy thinking.

6. Poverty is not a state of purse or pocket, but a state of mind. The difference between the poor and the rich is intelligence.

7. The poor lacks management skills (time, finance, people etc) whereas the rich know how to manage and maximize resources.

8. Poverty comes by inability, lack of self-discipline and unwillingness to confront hardship. The poor are afraid of failure, but the rich take risks and ask “Why not?”

I believe if you diligently follow the success formula which does not require you to reinvent the wheel, rather do what other successful people did, you will get the result other successful people got.

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  1. Few Reasons Why Some People Are Rich And Others Poor! | Chibuike's Blog

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