FINANCIAL FAILURE

What makes the poor poor

Financial Poverty obviously is the lowest and most undesirable phase to exist in. More “month than money” and adverse spending habits are perpetuated to sustain the same. Let’s address the inner thoughts and activities that ill affect us in this stratosphere.

Seeking advice from other poor people. One of the most profound practices that escapes the masses is the seemingly innate tendency for poor people to seek advice from other poor people. When looked at from afar, this financial sin seems overwhelmingly obvious and counterproductive but as fate would have it, we counsel with those, sometimes, less fortunate than ourselves to ameliorate our own condition. This search for confirmation bias is present in every stratosphere but weighs heaviest amongst the poor. The quote that is attributed to Einstein, resonates best: “We cannot solve our problems with the same thinking we used when we created them”. A lot of times we think those that are in a better financial situation than us were somehow dealt a better card in life than we were, and we discount their personal growth and development. Then we rule out their willingness to help. When more option than not, the person with more, is secretly waiting for the opportunity to freely give their perspective, advice, and resources to strengthen you, especially when that person is a close friend or family member.

Their silence is only maintained by their refusal to disrespect your right to be who or what you desire to be, even though the results are contradictory to the most basic norms of success and self-improvement. However, when you ask a question and aim it in the right direction and with the proper motive, you open up the universe to submit to your journey of fulfillment and quench your desire to evolve. If you look at the word “question”, it begins with the word quest. Some synonyms for quest are, search, hunt, pursuit. When your question turns into a quest, your financial trajectory begins.

The other closing point on taking advice from other poor people is the quality of the advice
which in my experience has been the passing on of insight, knowledge or awareness of governmental programs as financial advice.

Whether it’s how to obtain food vouchers, unemployment or military benefits. The advances gained from these programs are touted as financial tips and means of advancing when in reality they bolster a psychology that is 100 counterproductive to the spirit of entrepreneurship and financial independence. Just to be clear, I’m not saying it’s not wise to utilize assistance when you find yourself in a legitimate compromising situation but I am emphasizing that thinking that assistance is a worthy pursuit towards long term financial gain or believing that having the know how to get the assistance is a “transferable skill set” is delusional at best and sinister at worse.

Discipline is another perspective that eludes the poor. Too often discipline is seen as an enemy to one’s individual freedom. This disdain and contempt for discipline is the Achilles heel to success. When in fact discipline is your greatest ally because it invites order and order precludes harmony and success. In absence of discipline, we experience disorder and chaos and then we shortly follow with sedatives to anesthetize our reality. In other words, we use alcohol and drugs to give the false and short-term delusion that there is harmony but we eventually wind up exacerbating our situation. Although, society has played a role in creating a negative connotation around the word discipline, the more successful amongst us, leverage discipline as a tool and instrument in personal achievement.

Vocabulary. Our choice of vocabulary can be another instrument that closes or opens certain
doors. Every group, organization, fraternity, profession, etc. has a vocabulary spoken that invites those that speak the language to enter their culture. The fastest way to become acquainted with any subject is to master the language and/or vocabulary. The four-letter words we know as expletives generally welcome a lower spiritual and intellectual vibe. Increase your vocabulary,
reduce the four-letter words and master the language of financial literacy.

Self Esteem plays a role in how we view ourselves and others. Whether you were raised with low self-esteem, suffered childhood abuse or a singular tragic event brought you to a lower place, you must trust and believe that this is a spiritual muscle that can be repaired and strengthened. Becoming self-aware will give you the fortitude to stand in the rain but still see
the rainbow. All of us are unique creations with a very unique plan, gift and skill. Our failure to maximize our full potential is a sin against humanity and an obstruction of the gift Allah has deposited in you for the benefit of the world. Being poor and staying poor are two totally different things. While the trials of life can cause you to become poor, staying poor is a personal choice and a lot of times our self-esteem will allow us to accept the unacceptable when we don’t believe we are worthy.

Easy vs Hard speaks to the false no‑on that it is harder to be wealthy than to be poor or middle class. The reality is that the pain, struggle and sacrifice is the same. The Holy Quran says that “struggle is ordained”.

No one gets a pass on the struggles of life; the only difference is that one struggle is fruitless and the other is fruitful. The most infamous quote we’ve all heard regarding this subject is “if you think knowledge is expensive, try ignorance”. More applicably stated would be if you think being wealthy is hard, try poverty. Don’t fall for the mistaken no‑on that it is any easier to be poor than wealthy. The struggle is real on both sides and nothing should be discouraged based on the difficulty factor attached, the only qualifying ques‑on is “Is it worth it” and I can’t guarantee that acquiring wealth is easy but I can emphatically assure you in no
uncertain terms that being wealthy is worth it.

Free & Cheap speaks more to a mindset that is incapable of perceiving real value. As the old saying goes, we pay for what we want and beg for what we need. But even worse than that, our needs and wants are misconstrued. We have some great programs out there that are designed to support us through compromising times but there are those that have made a career of manipulating and usurping support programs within the system. Such things as Sec‑on 8 housing, VA benefits, Stimulus Checks, Food Stamps, etc. None of these programs should be mocked in any form or fashion because the request for help under extenuating circumstances is an intelligent ask. But some have made it a way of life and have become intellectually astute on the dos and dont’s, qualifications and criteria to maximize its utility. We’ve all seen 2nd and 3rd generation welfare recipients, so we know you can function and survive on this level but you will never break through to the upper stratosphere with that mentality.

Financial failure refers to a situation where an individual, business, or organization is unable to meet its financial obligations, resulting in severe financial distress or bankruptcy. This condition can be caused by various factors, including poor financial management, excessive debt, unexpected expenses, or economic downturns. Understanding the causes and indicators of financial failure is crucial for taking preventive measures and mi‑ga‑ng its impact.