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Tips - April 24, 2022

10 Signs you are Poor but Still Living in Denial

Just as some individuals believe they are poor but are actually wealthy, so also are the people on the other side of the pendulum. They believe that they are rich despite glaring signs are poor.

To them, they have a substantial amount that comes in every month. When in actual truth, it is not about their monthly take-home.

Even if you are the heir to family wealth, take a step back and consider this: if the money you inherited has today stopped rolling in, could you survive?

If you answered no, you are most likely impoverished but are unaware of it. Here are signs you are poor but still living in denial.

1. You will not be able to exist for more than three months if your source of income is lost

You need to do some self-evaluation. Do you have enough money to survive if you lost your source of income? 

If the response makes you uncomfortable, then you are poor. You can only be wealthy if you have wealth reserves. If you don’t have enough to last more than a year, you’re on your road to poverty.

2. If you take more time to get to work

This might look inconsequential, but it is essential as time is money. If it takes you two hours to get to work, you are most likely impoverished and unaware. This time-wasting mechanism is why you’ve never been able to work for yourself or start your own company.

For instance, you have to get up at 4 a.m. because you have to be at work by 8 a.m. Knowing how bad the traffic is and the distance, you will be there in around three hours. So instead of doing other things, you have to spend all of your time getting ready for work.

3. You have trouble paying your debts

If your bills usually give you the creeps, you’re probably impoverished. It’s an indication you’re having financial difficulties since you have to pay your bills no matter what you do, and that shouldn’t be a reason for concern.

Your lifestyle might influence why you are afraid of bills, regardless of how much money you have. Many individuals own pricey cellphones but don’t have any airtime since they can’t afford to pay for it.

4. Always looking for low-cost products

To you, it seems you are prudent with your expenses and saving more money. As a result, you are always on the lookout for low-cost items. You do not realise that such items do not last, so you wind up spending double the price of a standard item.

For instance, you bought a second-hand blender and sent it to the repair shop ten times less than a year. In the long run, you gave up and got another inexpensive blender. Indirectly, you are trapping yourself in a cycle that keeps you poor all the time.

5. You rely entirely too much on fast food

If eating out is your primary food source, you should be aware that you are on the road to poverty. Apart from the fact that you may be wasting your money on junk, you may be consuming unhealthy foods that will make you sick and deposit a large part of your salary on hospital costs.

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6. You are obsessed with something

If you have an obsession with something, it doesn’t matter how much money you make; you’re on your path to poverty.

Addictions are known to deplete finances. No matter how wealthy you are, if you’re addicted to drugs, alcohol, women, or anything else, like being a shopaholic, you are not rich but probably a pauper. 

This is because now you have the means of sustaining your addiction, but you’ll be down to nothing when you exalt it.

7. Your vehicle is more than 15 years old

Having a car is not a sign of wealth since it may be your undoing. If you possess a non-commercial automobile that is more than ten years old and only use it for the show, you are poor, and someone who does not own a car is better than you.

The person who does not own a car is better than you because the person may be putting their money towards a better project that will pay off handsomely in the future. On the other hand, you are spending it all on auto maintenance. It is a cost, not an asset until you monetise your automobile.

8. You rely on the government to make a difference in your life

You are impoverished if you rely solely on the election of a new administration to improve your situation and standard of living. The fact is nobody can enhance your life for you but you.

When you continually want someone to take care of your issues and they can’t, you blame them, and in this case, the government, you’re poor.

9. You rely on loans to get by

You are poor if you get your car through a loan you access from the bank. Your vehicle is not generating money, but it is draining you financially in terms of gasoline and maintenance, indicating that you are not saving enough to live on.

As a result of this showy lifestyle and attitude, many individuals are hungry. If you have to rely on loans to get by, you’re not wealthy; instead, you’re impoverished. Therefore, the ability to manage your money and improve your financial status is critical to your success.

10. The thought that a university education is the only way to success

Do not get it wrong, education is crucial, but it isn’t the only way of achieving success. As a result of this misconception, society now has a lot of poor graduates struggling.

Many individuals fight to go through university with the expectation of getting a good job afterwards. However, this dream is truncated when there is no job, and they end up working under someone who dropped out of school to obtain relevant experience.

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