Reasons Why You Will Always Be Poor

Why You Will Always Be Poor

1. You spend more money then you make

2. Paying way too much for your cell phone & TV viewing

3. Lack of patience – wanting it all now

4. Unwilling to give up one thing for another

5. Buying depreciable assets

6. Not sticking to a budget

7. Trying to acquire wealth too quickly

8. Buy stuff instead of saving

9. Lack of proper training

10. Not separating wants from needs

11. Not knowing where your money is going (lack of a budget)

12. Don’t have a written plan

13. Buying too much house (house poor)

14. Saving isn’t a priority (should be your first priority)

15. Lack of an emergency fund (min. of three to six months of expenses)

16. Not paying yourself first

17. Lack of personal finance knowledge

18. Carrying high debt (carrying monthly balance from previous billing cycle)

Most important reason you will always be poor – Choosing the wrong spouse (partner).

Actually the above is the most important financial decision you will ever make, chose the wrong partner and it will be an uphill battle most your life.

Financial Quote – Reflecting back, we all make mistakes; we all go through our stuff – relationships, financial, all kinds of stuff – and if you can grow from that and pass that message on, it’s a pretty cool thing. Nikki Sixx

Daniel Iuculano, AAMS CMFC

Accredited Asset Management Specialist

Chartered Mutual Fund Counselor

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