Do you know that poor are bad at keeping money and that is why they remain poor? If they aren’t, then they should be rich. I have come to an understanding that the poor know little about the how the rich keep money to themselves and this is a major drawback into their move into financial freedom. The rich use a lot of things as instruments to keep money and I will be looking at this things.
The rich try not to pay taxes with their businesses
The poor will keep paying income taxes on every penny they receive but this isn’t the same for businesses. Businesses are meant to pay taxes after subtracting expenses from profits. The rich understands that spending money on expenses that grow the business means lesser taxes to remit to the government. When individuals get taxed on income, the businesses get taxed on the remains after expenses.
Problem solving not hard working generates money
You are rewarded for your ability to find a solution and not by working hard. The poor would have to work shifts and work very hard to get every penny while the rich just keep solving problems which generates money for them. The rich never trade time for wealth, rather they are able to sleep and still have their money increasing.
Same efforts for different money
If the poor knew that the same effort it would cost to make $1 is the same that would be needed to make $1,000,000.00, then they would be willing to put in the same efforts. All sellers are willing to sell commodities to other people but the same effort used to sell $1 is the same effort to be used to sell $100,000.
Increase your income
The poor often want to live doing the same job since it is secured for them but they ought to be thinking of how to improve their income. It is better to increase income and not look for hoe to cut cost.