How To Become Rich And Avoid Being poor

Today, I’m going to analyze some differences that separate the rich from the poor

1.     The rich has business(es) which he uses to generate consistent income while the poor possess no business and never think of starting one

2.     The rich people understand the importance of creating multiple streams of income to always make more money while the poor folks have one single lean source which may cease from generating income any moment and may not capable of generating sufficient income for better living

3.     The rich never allow anyone to control their income. They always take full control of their financial power while the poor either allows another person to take full control of his/her income or contented with little or unreliable source of income to sustain their life.

4.     The rich are prudent and usually do everything possible to ensure their resources are efficiently managed and channeled to where more wealth will be generated while the poor are lousy and extravagant. They rarely take good care of their financial resources in their possession and lack the habit of good money management.

5.     The rich takes full control of their time as they recognize it to be the biggest resource which needs to be efficiently utilized by anyone aspired to be successful in life while the poor people lack the habit of time management and know next to nothing to its usefulness in accumulating wealth.

6.     The rich recognize and understand the importance of acquiring income generating asset which is capable of building more wealth for themselves and their generation yet unborn while the poor people are fond of accumulating more liabilities which in turn bring more financial failure and misfortunes for their life and the life of their generation yet unborn

7.     The rich seek the advice of professionals such as Accountants, Lawyers, Stockbrokers, Financial Analyst, etc before investing their hard earned money in any business to guard against financial loss and reduce the risk of losing their investment to the barest minimum while the poor people don’t exercise patience to seek advice of professionals to find out the useful information about the business or investment they are going into because of the ignorance and lack of previous knowledge of financial education to clearly recognize the profitable from unprofitable investment/business opportunity  

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