Despite working hard, why are you still poor?

One of the questions a lot of people ask themselves is why they're still poor or living in poverty despite working hard. They can't seem to fathom why they're not excelling in their trade, and it seems as though they're cursed. But if we're to critically analyze wealth creation, is it all about hard work or is there something else involved that helps one accumulate wealth?

To start with, the importance of hard work can never be overemphasized, so it's important in accumulating wealth and other aspects of life. What most people don't know is that hard work alone isn't enough to make wealth, and when it comes to working, we should also inculcate the habit of working smart.

For instance, someone who works as a laborer in a construction company or as a staff member at a factory will think they're hardworking and deserve a better pay or to get more in order to accumulate wealth, which they did. But since the system of the world doesn't work that way, it's highly essential that we restructure ourselves and position ourselves in a way whereby we can accumulate more.

• There are many reasons why someone can remain poor despite working hard, and one of them could be coming from a poor background and the inability to get resources that could be beneficial to their growth, such as education, sponsorship, finance, and several others. Each of these can be instrumental in making one remain in poverty if nothing is done to change the situation.

• There are others who have access to all of these but are still running towards bankruptcy. I've seen someone who came from a rich background and yet is poor, and so have I seen someone who's educated, has a good job, and is hardworking but is still poor. The reason for such people remaining poor can be traced down to a lack of financial Literacy and an inability to properly manage funds.

• Another Core reason why some are still poor is because of their inability to take risks and invest in life-changing projects that could have improved their finances. When you cannot take risks, it's very hard to get extraordinary things, so to make wealth, you must be ready to take risks and invest. Although saving is good, it can never be a medium via which you'll accumulate wealth, invest, and watch your life turn around for the better.

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So in a nutshell, to survive or move away from poverty, you must look beyond just working hard, but also work smart and be ready to take risks. You must also equip yourself with financial knowledge that will be instrumental in your wealth acquisition journey.

Thanks for taking out time to read through, have a prosperous life ahead.