What Makes People Rich Or Poor

There are diverse opinions and suggestions that people might give concerning what actually makes some people rich while others remain impoverished in the same society. But before going into the subject matter, it will be necessary to point out the meaning of the two concepts as it will be used in this article. In the context of this article, being rich has to do with having a great deal of money or assets. On the other hand, poverty as it will be used in this article means the lack or scarcity of money or quality which forces people" s behaviour, sense of reasoning and standard of living to be in a low or below a standard that is considered normal. The reasons for being rich or poor may not be certain, but the following factors may not be far from the truth.

The first factor to be considered is information gathering and implementation. Useful and good pieces of information is likely to put a man well above his fellow men living in the same society with him, whereby he has similar or equal opportunities with others. Some people seem to be hungry for good pieces of information that will help them in any situation they find themselves, while some other people neglect the acquisition of good pieces of information, or sometimes they reluctantly gather them but fail to implement what they have gathered. As a result of this, the latter find it difficult to make good progress in life than the former.

Proper planning is another factor to be considered. In life, some people seem to have definite plans in whatever they want to go into or whatever they hope to achieve at any given time, while some others lack proper planning for their life or for the activities they embark on. The result of proper planning or lack of it is riches or poverty, depending on the decisions made by individuals to plan for their daily activities or neglecting it.

Savings and Money accountability are the next factor to be considered. Some individuals spend money without saving little out of whatever their income is, while some other people actually saves part of their income on a daily, weekly or monthly basis. Those people who actually succeed in saving part of their income will have the opportunity of turning the little they have into more assets, but those people who fail to save find it difficult to exploit opportunities that might come their way in the future for lack of capital. The same thing goes to money accountability, as those who are not accountable for their money find it difficult to become rich.

Lastly, I have come to discover that those who actually end up being poor, do not take any form of risk. The fear of loosing money actually keeps them from taking risk in the form of investments, and those who do not invest may not become rich.

Being rich or poor is never inherited, but it depends on the choices people make while they struggle to survive in our highly competitive world.
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