5 Working-class Habits Keeping You Poor
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Entrepreneurs - April 13, 2023

5 Working-class Habits Keeping You Poor

Many working-class people struggle to make ends meet and build a secure financial future, despite putting in long hours. These financial struggles can be largely attributed to certain habits and behaviors they practice. 

These habits can perpetuate a cycle of poverty and prevent you from achieving your financial goals. Identifying these habits is the first step to breaking free from them. So let’s get started.


Most working-class people are usually caught in the web of overspending. They fail to realise that overspending creates a circle of debt and financial instability. Spending more money than you earn drives you to a point where a large portion of your income goes towards debt payments. Also, overspending can lead to poor financial discipline and poor money management skills, which can keep you poor. 

Worse is, working-class individuals can also begin to spend money on non-essential items, prioritising immediate gratification over long-term financial security. Dave Ramsey, an American Radio Personality once said, “We often overspend because we are trying to fill an emotional gap in our lives. No object will ever satisfy your soul.” This highlights the damage that overspending does to an individual. 

To avoid this, you must establish good money management habits and overlook immediate gratification. If you must see results for the long hours you invest in work, it is time to prioritise long-term financial goals.

Consumer Debt

Consumer debts deprive working-class people of a level of financial flexibility. It weakens your capacity to attend to sudden expenses, like medical bills, car repairs, etc. When this happens, it creates room for more debt. Also, consumer debt accrues high-interest rates and restrains your access to savings and investment opportunities.

When your income continues to go into debt payments, you will never have enough money to save, invest in the future or make large purchases. Robert Kiyosaki, an American entrepreneur noted that “Bad debt is debt that makes you poorer.” Consumer debt limits your chances of financial success, so avoid them.

Not Prioritising Saving and Investing

Many working-class people are poor because they fail to pay attention to savings and investment opportunities. They prioritise spending over saving. Worse still, those who save, do so after settling their debts, going shopping and paying all the bills. This habit leaves you with little or nothing to save, which in turn keeps you poor. 

To enjoy financial freedom, you must decide to save a certain percentage of your monthly income in a separate savings account. Also, you must identify investment opportunities using Bamboo. Pay attention to the stock markets, and conduct a thorough investigation before making an investment.

No Cash-Flowing Assets

Cash-flowing assets are the best way to establish a financial cushion and overcome reliance on one income stream. Since most working-class people do not prioritise cash-flowing assets they end up remaining poor. Cash-flowing assets include dividend-paying stocks and stock funds, royalties, bonds, rental real estate, annuities, business ownerships etc.

Cash-flowing assets can be secured with a tangible amount of money, hence the need to save. Once you have these assets, you quit struggling to pay debts, you can invest in more income-producing assets and have a safety net in case of unexpected expenses or emergencies. 

No Business Ownership

Having no business to call your own is one of the habits keeping you poor. This is because working-class jobs have limited income potential, job insecurity, minimised opportunities for generational wealth, and no tax benefits.

While working-class jobs leave you with a fixed salary and little room for income growth, owning a business can provide a source of unlimited income potential. The world we live in today has made it easy to own online businesses while doing a working-class job. From running an e-commerce business to being a content or website developer, working-class people can now run side businesses to enjoy financial freedom.

Business ownership helps you build assets that can be passed down to future generations, providing a pathway for financial stability and upward mobility.

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