Reasons why we are poor

If you are going to list all the old people you know, how many of them are living well, spending their own money? Maybe you can name a few but majority of them are just depending on their small amount of pension or the money that their children will give them. Statistically speaking, more than 90% of Filipinos at age 65 are either broke or already died broke. This is really a shocking reality. Here are the reasons why people are poor:

1. Poor Saving Habits. If you're in the office, ask the first 3 people you will meet. How much money they were able to save from their last paycheck? Most often than not, you'd hear a lot of complains and they will tell you that their income is not even enough to pay all the bills that needs to be paid. Most of the time, employees had already spent the money they are just about to receive. Even the bonus they are just about to receive 3 months from now is already allocated to pay some bills or to buy some new things instead of planning to save or invest it. I was also guilty of poor saving habits before, until I got frustrated living out of budget from time to time.
   
2. Lack of Foresight. When things are good, we always think that it would never end, as if we will always live at the same level at all times.
   
3. Lack of concrete goals. Most of us tend to think that we are goal-oriented, but actually we are not. We're merely day dreamers. We always daydream most of the time.
   
4. Procrastinations. Here is our favorite - we are really rich with tomorrows, that will never really come. The real best time doing what we have to do is not even today but yesterdays. If there would be a Procrastination Club, millions would be potential candidates, but it won't even have a hundred members because most of them may not even find the time or be gotten around to sign up anyway.
5. Lack of Knowledge. Here finally is the bottom line. Even if we know that something must be done, we haven't have the faintest idea what that something is, and nobody is going to show you the way. Now you know the reasons why we end up broke. Better read my next post to prevent this from happening to you.

source: Michael C. Ela - Fujitsu Engineer