Oct 26, 202310 min read

10 Steps on How to be Poor - Life Theory 46

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10 Steps on How to be Poor - Life Theory 46

This "Life Theory" episode will discuss how one can always be poor. Questions like why I am poor? What steps lead to poverty? Is there a difference between being broke and being poor? Not the best of topics, but the reality was never meant to be easy. What things make you poor? Why am I poor and why other people are poor? Are poor people lazy as well? What habits make you lose money?

I. Causes of Poverty

II. Educated vs. non Educated

III. Poor Parents

IV. Your Circle

V. Wanting Help

VI. Hard Work vs. Smart Work

VII. Life Status and Money (Entertainment)

VIII. Modern Slavery

IX. Broke vs. Poor

X. Mindset on Money

BONUS: Money is just a made-up currency to ensure order in the chaos. Yes, it is of paramount importance, and we all want to have it, but just remember. Humans are the only species on the planet that pay to live here. ....

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Hello, and welcome to Life Theory! We will digest essential life steps to have a better life in these episodes. And we will try to do it short, straightforward, and with no bullshit.

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With that said, let's head to today's episode. Rules of poverty!

• Poverty! It is a word as old as civilizations. It might have many definitions, but we will use the short and straightforward ones. "Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living."

Number 1! Causes of Poverty.

The causes of poverty might be many, and each person you ask will make a list of he is poor. The one thing they will not tell you is that the leading cause is themselves. And, yes! You might not be born in Western Europe, the United States, Canada, or Australia, but now what? You are wee given a bad hand! Now what? It is up to you to find a way to make your life better because no one else will make it easier for you, not even your close ones. They are all busy dealing with their own shit in life.

Whatever the cause might be! Your country is corrupt, it is underdeveloped, it's poor, it's not safe, it's in a constant crossfire, the world has never been more open to starting at zero, and if you are poor, there is only counting up from that zero.

Number 2. Educated vs. non Educated.

Educated versus non-educated people. If we have to get real on the matter. Education is one of the leading indicators of a given country's wellbeing and wealth. The higher the average number of people who graduated high school, the higher the country's Gross Domestic Product. Education gives you a better shot at finding a better-paid job, but it's also a key factor if you will be able to find that job in your country, or you would have to look beyond your country's borders. What point is therein opportunities if you have never heard of SEO, Automation, NFTs, Blockchain, whatever it might be?

And that leads us to number 3 ! Poor Parents.

Poor Parents. Poor parents set the foundation for their children as early as they turn five years old. A lot of the parents in their fifties and sixties today have no idea how money works, and the only advice they give to their children is to go into debt, find a well-paying job, pay off their debt, get a new debt for a car, a house, a wedding, to work until pension, and then die. That is terrible advice. Not a Life Theory you would want to follow. It's not that they don't want their kids to be rich. The lack of understanding of money keeping them poor is the one thing they give to their kids. Listen to your parents for life advice, understand their struggles in their time, take something from it, and then do your own thing. Being born and raised poor was not your fault, but dying poor, that's on you. We have to credit this one to Bill Gates, and he knows a thing or two about money. And speaking of people who influence your wellbeing, we move to number 4.

Your Circle. You should know that the five people you spend the most time with have the most significant influence on your own life, choices, and wellbeing. Keep your circle with intelligent, bright, and open-minded people, who aren't poor, and you will be in that circle. Keep your circle with constant money struggling, never learning average Joes, and guess what? You will be the fifth Joe. Don't get us wrong. No one is perfect in their teens and early twenties. But if you and your friends haven't grown in your late twenties to early thirties, that's a red flag on the poor scale, both monetary, mentally, and on your health wellbeing. If you are poor and your friends are poor, your health is probably not in a top-notch form. Money isn't supposed to be for status. It's supposed to bring something better in your life, those around you, and the human race as a whole. And speaking about helping others.

Number Five. Wanting help is a must-do, not a sign of weakness.

The lone wolf is an amazing story if you want to build that body in the gym or if you want a flying start in something, but remember this for as longest you are alive. There has never been a single rich person on that planet who become rich by doing it alone. Steve Jobs didn't build Apple, Bill Gates didn't code Microsoft Windows, and Richard Branson isn't the manager of all of his companies. If you want to avoid being poor, you need other people. Like it, hate it, but that is a fact. Even if you build a successful online store alone, you still didn't do it alone! You paid for hosting, card payments, products in your store, and shipments. That is not something that happens by itself. It is all done by other people. Even the people who won the lottery needed other people to give them their tickets. One of the biggest mistakes poor people make is thinking that if they ask for help, they will look weak or can't handle the task themself. There is a reason why the company's CEO doesn't send those marketing campaigns! It's not because they can't, but because they need someone better than themself to do it so that they can focus on their strengths! That might be sales, corporate finance, expanding the business, or pushing the company forward. Something that poor people need to learn as quickly as possible is that spending money on people doesn't cost you money. It actually generates you money! Let us say that one more time! Spending money on people, doesn't cost you money. It generates you money.

Number 6! Hard Work versus Smart Work.

Work hard, and you will succeed! A tale as wrong as it can be. Yes! Fifty years or 100 years ago, it might have been confirmed that the harder you work, the more you earn, but that is not the case today. And we don't mean that you have to sit on the couch and do nothing. Hard work is always required, but only if it is done smartly. For example! Don't spend 8 hours generating 800 random emails for your business. Pay a freelancer to generate them for you! Buy software that will do the repetitive tasks. If hard work were the measure of wealth, all the bricklayers, mine workers, factory workers, and underage child workers would be the wealthiest people on the planet. Work Smart, Work Hard, Work Ethically! Believe in your morals and ideas, and in 5 to 10 years, success and wealth will become your permanent life partner. No more needs to be said on this one. Just don't use candles when there are light bows. Don't use typing machines when they are computers.

Number SEVEN! Life Status, Entertainment, and You!

Ok! This is a hard pillow to swallow. If you are watching this on your device, you are not poor! But you might be going there pretty fast. We know how different countries can be from one another. We are creating this video from one of the world's happiest and wealthiest countries, but we are coming from one of the poorest, Bulgaria! And, for ten years, we were constantly complaining about how poor our country is, how poor we are, how bad the situation is. And, we were doing that in a restaurant, next to the beach, with a fantastic view, under blue skies, warm weather, and no civil or other types of war on our back. Then we would complain about how big the bill was. You see now? We spent our money on stuff, entertainment, and status. If we have only spent that time and money on educating ourselves, online courses, and early investments, no matter how small, now we would think that not having enough to buy a yacht was poor. Not that we need or want a boat. We are just making a point here. You will stay poor if you always say yes to entertainment and buy branded shit. We don't mean to ignore a friend's birthday or celebrate a justified occasion, but every day for a walk, a coffee, or a snack is only going to keep you away from escaping poverty. Keeping up with the Kardashians only helps the Kardashians,

or the Joneses, depending on how old you are.

Number EIGHT. Modern Slavery!

What is modern slavery? By definition, "Modern slavery is the severe exploitation of other people for personal or commercial gain."

It can be all around us, but often just out of sight. And, we are not going to focus on all the child sweatshops that make our clothes and phones or the Agencies that hire people from low developed countries to work in the west and give them no medical or any other insurance and pay them only a fraction of what the locals are getting paid.

No! We are talking once more about debt. The moment you take money from a bank, they own your time. That means they own you. That is something the poor failed to realize. Taking that enormous credit for the TV on sale, the new phone, the vacation, the car, the car repayments, the wedding! Those are all reliabilities that will never appreciate in value, and they lose up to 50 percent of their worth the moment you touch them. Not to mention the money you have to pay back, plus the interest. If you are going to be in debt for something, be sure that at the very least, it will never depreciate in value, and if the worse gets to you, at least you will be at zero and not a negative couple of thousands, or even more.

Casinos and other addictive entertainings are also seen among the poor. You see those rich folks playing in casinos. They play because they own the casinos. Don't get blindsided by the glamour.

If you stay poor, you will never own your time, and someone will always hold it for you until you die! If you didn't have the motivation not to get rich, now you do!

Number NINE! Being Poor is not the same as being out of money now!

Here is something that the poor also failed to understand. Being poor is a mind game. It means you have given up. It means you have accepted your life the way it is. You tried, failed, or maybe didn't try at all, but you are now numb to the pain and don't even notice how poor you are.

On the other hand, being broke is a temporary situation you are in due to whatever the reason might be. Being broke doesn't mean you are poor. It simply means that you have to live below your means for a more extended period until you can change your current situation. And with that mindset, we go to our final reason you are poor.

Number TEN! Mindset!

Before you ask what mindset has to do with money, we will answer right now! Everything!

If you have a limited mindset, meaning that you stop learning after school, you believe you are entitled to things. You praise the secret or other voodoo wishful thinking; you are always, always, always going to be poor in every single way possible.

Suppose, however, you have a growth mindset, meaning you always keep on learning. If you are emotionally intelligent, don't blame others, and take full responsibility for your actions, then you get a chance of not being poor.

It is up to your dedication, work ethic, belief system, and willingness to sacrifice that will determine whether or not you will be poor or remain poor.

People tend to stop reading anything after high school or college, which is the fundamental mistake almost all people make. They think that reading has no value. We say, if reading one book can save you decades, decades of errors, or if it can show you what works and what doesn't, then buying a single book is one of the most significant investments one can make.

You can start small with "Rich Dad, Poor Dad" and move to the 4-hour workweek by Tim Ferris. Spoiler, it has almost nothing to do with working only 4 hours a week, trust us. If you start reading just one book per month, you would have read more books than 90 percent of the population by the end of the year.

Being poor is unjustified, not fair. Sometimes it's not your fault at the beginning. But your mindset is of paramount importance. Change your mindset. Change your life. That was all from us today but in the words of Steve Jobs.

"There's one more thing!"

Number 11!

Money is not even on the podium of essentials for a life well-lived. Money is just a made-up currency to ensure order in the chaos. Yes, it is essential, and we all want to have it, but remember. Humans are the only species on the planet that pay to live here. There will always be money, but as far as the theory of life goes. Just try to be living a good life. And with that said.

Thank you for watching!

And until next time,

Keep on Rising.

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