”Well, who wants to get poor?” You ask. Well, maybe no one does, but daily people take actions, unconsciously that takes them closer and closer to poverty.
Just as wealth and the path to achieving it can be procedural, so is financial distress! So, in this article, we will outline steps that have been proven to drag individuals and even organizations into Financial Distress.
Borrow and borrow some more!
While borrowing in itself is not necessarily a bad economic move, but borrowing with a correspondent source of income or expected revenue, will certainly land you on the other side of your finances!
If you need more money, you just borrow, right? And when that runs out, you borrow some more. That’s why you are struggling financially.
The truth is that borrowing leads to an irreversible loss of wealth and the more you borrow, the poorer you will be: not just now and not just while you are paying off your debts – but for the rest of your life, especially if your borrowings are to finance consumption demands.
Trusting strangers and Non-experts with Finance
The investment fund industry generally doesn’t like people to enquire too closely into the long-term records of its managers. You often won’t even be aware who the manager is, as the provider will merely say our “expert, experienced team of managers” or something, however, this is a dangerous gamble.
Majority of people who have lost their fortunes, did so to strangers or poor managers of resources, who in most cases, where non-professionals. Before you invest in a fund, understudy the manager’s performance and track record.
Stay in a dead-end low-paid job or a job you do not love.
A low-paid job is fine if you really enjoy what you do or if it is a route to something better. But many people hate what they do and earn barely enough money to survive. They are reluctant to take a risk, to learn new skills or to try something new. They stay on a road that leads nowhere.
When you work at a job you do not enjoy, it is almost certainly predictable that your productivity will be low and so your remuneration.
Avoid work altogether.
While, it is really unfortunate that some people are too ill to work, but there are many able bodied people make a decision to live on social benefits and to avoid work. Perhaps they intend to marry a movie star or to win the lottery but working their way up is not part of the plan.
Find an industry that is invented purely to take your money or Develop an Addiction.
Several industries like this exist, from gaming, gambling to others. They are very efficient at taking your money: the gaming – or gambling – industry. Make it a duty, as one who truly desires to get poor, to get into a casino right away, to place that lucky bet immediately.
Addictions are excellent ways to squander wealth and health. Cocaine and heroin are also fast routes to perdition. Gambling works really well too. The time-honored choice is alcoholism which has ruined many a career and relationship. Yet there are exceptions. A tiny number of habitual gamblers win, some alcoholics can function for a long time. In the end the addiction usually wins.
So, if you sincerely desire to get poor, why not? go ahead, indulge!
Buy into enthusiasm and heavy tactics
If a bank manager, cold caller or any other person who will financially benefit from you buying something through them is particularly insistent and enthusiastic about a product, naturally they are enthusiastic for you, right?
That’s right. They have heard of your mission to get poor quick. That’s why they’re selflessly being heavy handed and want you to sign now before you think too much.
Why is it that some of the same companies spend tens of thousands of pounds plastering adverts over every second website time and again? Are they spending this money to tell you about their most cost-effective products? No.
If you assume that they are pushing their most expensive, confusing and ultimately wealth-grabbing products, you will frequently be correct. The more they advertise, the more likely it is that this product is not the cheapest of its kind. The more complicated, astounding or “innovative” it seems to be, the greater the chance that other products will be more suitable for you.
“Innovative” is a particularly ugly word in finance. Innovations tend to make the financial institutions richer at the customers’ expense.
Spend more than you make and ensure to never save.
Savings help build wealth so a good plan for long-term poverty is to blow any extra earnings or bonuses on having a good time, which is exactly the aim here. So, in trying to become poor, ensure to make no saving, as it might jettison your chances.
Be born and choose to remain in a failing country.
If you are one of the millions born in very poor countries with no human rights, no education or healthcare and a repressive regime then you face enormous difficulties in escaping a life of poverty. Some do but the vast majority is condemned to extreme hardship.
If however, you are unfortunate to be born in any of these countries, it is not your fault in any way, seek out means to get wealthy, or at least to escape poverty, and follow them.
Decide you do not need an education, and ensure you do not get one!
Deciding you do not need an education is not just enough, you must make sure you do not get one, that is, if you must enhance your chances tilting towards poverty.
If you drop out of school or fail to achieve a basic education then you will severely restrict your chances of employment. What is more it is difficult to acquire further skills if you lack the basic ones. However this method does not guarantee poverty as there are some exceptional people who, because of sheer hard work or innate ability, succeed despite little formal education.
Of course, there are the instances of Bill Gates, Mark Zuckerberg, Michael Dell, Zhou Qunfei, Steve Jobs, Richard Branson, Evan Williams, to even fire up you enthusiasm you could add Amancio Ortega, singer Jay Z and a host others.
But given NBS reports that the great majority of dropout are found to be poor, the odds are still in your favor.
Engaging in get-rich-quick schemes
This is a timeless way to lose all your wealth. It could be a Ponzi, gamble, shoddy investment, but they all promises unbelievable returns, which rarely ever does happen.
So, it is a very well proven means to get poor, if you are serious about getting poor.
Make no effort to be rich
Such efforts will give you the exact opposite of what you are trying to achieve, or at least move you further away from poverty. But, that isn’t what you are trying to achieve. So, sit back. Relax. Do nothing. Don’t switch accounts. Put your feet up at work. Watch a bit more TV. Your income will steadily fall against inflation and your organization will device clever ways to let you off.
Engage in crimes that get them to jail
Goin to jail will help you stop earning. So, if you want to get poor, get involved in crime, particularly early in life, and end up in jail where you can waste the years that could have been spent acquiring an education and useful skills.
Don’t plan, just spend, Spend on things as they appear and ensure not to Invest.
Yes. This works all the time, have no plan, no budget, make no account, and some you will find yourself struggling.
Other methods exist that could help you get poor very fast, but why get poor and suffer penury, when you can take practical steps and elevate the quality of your life today.