Before we even get started on the how to escape poverty. Let’s talk about what is poverty.
Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living but this list can actually help you escape the middle class rut too.
The Middle Class Rut is a class of people that are one emergency away from them having to live in a poverty stricken neighborhood. So if your just making it or barely getting by every month this list of steps can help you too.
- LEARN MORE
They don’t say knowledge is power for no reason at all. Since it is also the most essential, it tops on this list. The more you know, the more exposure you get to the latest market trends, opportunities, and tools to make money.
For the basics, delve into topics such as Basic Financial literacy, how credit works and how you can build it, as well as loans. The basics are all you need, and don’t forget to surround yourself with the ‘smart guys.’
If you don’t know anyone that Is smart when it comes to money watch YouTube consistently. Change your instagram and Tiktok algorithm but liking and looking for people that are into money, personal finances and building wealth.
You can easily learn from them so check out some wealth building books on Amazon I have a list of books that I recommend. Check out the list here.
- UTILIZE COMMUNITY RESOURCES
Here, it either depends on financial assistance or more active assistance such as mentorship. You have to know what you want before seeking help. Taking advantage of the opportunities available in your local neighborhood rather than struggling alone in silence can easily be a way out. Consider resources such as the church, youth funds, and NGOs as your tool to enhance your financial knowledge.
- CHANGE YOUR MINDSET ABOUT MONEY
It’s hard to change the point of view we got from our parents while growing up. Or the point of view from your friends that reinforce the stereotypes about money and getting rich. But once you start seeing your finances as a temporary situation, you realize it’s something you can improve.
To put it another way, you have revenue flexibility. You will start moving up the “income chain” to a higher wealth situation if you make the right decisions and manage your money wisely. Getting the belief that things can improve and that you will be able to change the condition can motivate you tenfold.
No matter where you come from, you can make that breakthrough and be an inspiration to others.
BOTTOM LINE
It’s not easy to get out of poverty. At any step, forces beyond your influence are acting against you. There will always be obstacles put in your way but sometimes those are just placed their to see how bad you want your success. Honestly escaping poverty is all about your mindset and how you see yourself.
If you don’t see yourself getting out of poverty then you won’t. You have to believe you can.
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