13. You do not know what you want and what you need. You just can’t separate the two.
“People, generally speaking, have a hard time differentiating wants and needs,” said Grayson Bell, personal finance blogger at Debt Roundup.
“They use the word ‘need’ for almost everything they purchase, causing them to actually believe they ‘have’ to spend the money.”
“You might ‘need’ a car for transport, but you ‘want’ the luxury model,” he said. “This mentality keeps us down financially.”
14. You do not have a college degree or any training of some sort.
Louis DeNicola, a consumer expert and writer for Cheapism.com, said that ‘sometimes it comes down to unfortunate circumstances that work against you’.
“Many people lack access to good-paying jobs and have limited time or opportunity to receive training that would allow them to get one of those jobs”, according to DeNicola.
If you want to remain employed and you do not have a college degree or training, you can only go so far. Unless you become a businessperson, your degree won’t matter anymore. Of course, to become a successful businessperson, you’ll need skills which you can get through actual life experiences or thru training.
15. You are investing in things, and not in yourself.
Julie Rains, personal finance writer and founder of Investing to Thrive, also said that economic disadvantages play a big part in why some people are poor, but that’s not the only thing holding people back.
“Others might find themselves in crises because they have repeatedly underinvested in areas with long-term benefits — [such as] professional career and education, savings, investments — and over-invested and overextended themselves in other areas, such as luxury products and upscale housing.”