Those who come from wealthy homes or wealthy backgrounds may find it convenient to generate wealth from their families and use that as a strong leverage to continue to build family fortune but for some set of people who come from a low background or a generation of poor people, they find it usually difficult to climb up through the ladder of success fast.
In order to break away from the category of those who belong to generational poverty, it is important to learn how to do so and develop a matching strategy that will make it possible to break away from the category of poverty which might not come easily but it is very possible.
Irrespective of the way you were born, you have the ability to force certain changes to happen to you. We did not choose how we were born, but we have the ability to choose how we want our financial status to be by the time we give birth to our own children, we also have the choice to make between leaving behind some good fortunes for our children or not.
Get ready to change.
The identity of poverty starts from the mind, change is a deliberate decision to let go of certain things and stick to the ones that are better, poverty is a very strong factor and it takes a willing and determined mind to break away from the chain of poverty and once the mind is ready to change, the entire process comes in handy.
Take a sincere complete look of your life.
Irrespective of the level you are, you are the only one who can tell yourself the honest truth, you can do that by taking a survey about your life, listing out the amount you have coming in and the total expense you have going out. Having an understanding about this will help you know where you are making financial mistakes and the things that requires adjustment.
Enter into the survival mode.
This is the phase that a lot of people run away from, they want to enjoy the pleasure of the moment and still enjoy the wealth of the future without making any sacrifice, you know that you are not from a wealthy home and you have to find your way to the top by yourself, so you have to cut down on those unnecessary expenses and just get focused on the necessary expenses while you set aside the remaining funds for building a better life.
Generational poverty happens as a result of one generation not being able to pay the required sacrifice for wealth to happen.
Increase your income.
If you are consistently trying to fight poverty, you have to increase the amount you have coming in for you, if you have one means of income today, you need to look out for other income sources that will make more money available for you.
Awesome Article,
Thanks
Hello @futurekr
The four points mentioned are fundamental to break the chain of poverty.
That is why changes must be made in the way of thinking and breaking all the paradigms that the person has as a result of their roots or past experiences and even as a result of habit or resignation, otherwise, it will be very difficult to achieve.
Thanks
Regards