Poverty

By Samuel Asante, August 2, 2020

Poverty is defined as the condition of being extremely poor. A person is poor when he or she does not meet basic needs in life. There could be a situation where one constantly lives in a condition of financial difficulty for a long time. Such a condition can be described as poverty. The good news is that, this condition can be dealt with through determination and hard work. This write up will show you what to do to come out from this menace.

WAYS TO AVIOD POVERTY

Physical Perspective
1. Get more streams of income: Most people depend on only one source of income for a living. To be financially relieved, one needs more than one stream of income. You can either engage in a part time job or petty trading in addition to your main job. This can also generate extra income to support your financial needs.

2. Invest wisely: Many people go through financial difficulties in life due to wrongful investment, such as putting money into unprofitable businesses. Basically there are three kinds of investment. They are short term, medium term and long term investment (these will be discussed into details in a later chapter).

3. Make good use of time: Time is a very essential commodity in every human endeavor. It is allocated to man equally but depends on how well it is used by everyone. To have financial freedom, one has to use his or her time wisely.

4. Work harder: Every extra effort made in our area of work yields more result as it is said that hard work pays. Those people who work reluctantly or lazily may always have issues with their finances.

5. Add value to yourself: To be financially liberated, it is very important to add value to yourself. This can be done by undertaking different courses to abreast and upgrade yourself in order to fit into situational opportunities. For instance, a teacher can learn sowing in order to repair torn dresses at home. A mason can equally learn carpentry.

6. Look for good business opportunities: The environment can also arouse in us some business ideas that can bring about our financial liberation. Look around to see the things that is of great need in the neighborhood and capitalize on it without thinking of how low the profit may be or how belittling it may seem. A lot of people have built great wealth and empires by just looking around them and what others saw as mere problems, they saw them as opportunities. And in solving these societal problems, they have become billionaires. Bill Gates, Mark Zuckerberg, Osei Kwame Despite are to mention but a few. You can be the next Bill Gates in our generation.