5 Financial Mistakes That Keeps Most People Poor

1. They Buy A House.

I'm not even going to be sorry about this statement. Buying a house is really, really a dumb idea, who was probably sold by the Wall Street and just makes a handful people rich, while the rest of the people stay trapped for 30 years going through all the economic ups and downs, worrying and not knowing if they will be able to pay the mortgage next month. You can be perfectly fine by renting because the ability to move in this fast-paced environment is more important than just some house which will always require maintenance and repairs and just constantly pulls your money out of the pocket.

2. Only Having One Source Of Income.

If a person thinks that he will survive with his job mainly, he is wrong. The prices of the goods due to inflation are going up ten times faster then the salary will ever will. That's why that person needs a "side hustle", that he could turn into a real business in the future. And I am not saying that you need to "find the thing that you love" or "find your passion", maybe the solution is hiding behind the thing that you hate doing, simply because that's where the most problems are, and that's where the money is hiding too because no one is willing to solve these problems. You probably know that a lot of jobs are going to the eastern parts of the world due to cheaper labor and that more and more people are getting changed by technology at work and more of these events will take place in the future. Talk about the "safe job" idea right.

3. Alcohol And Cigarettes.

Are you a smoker and like to drink on the weekend? I feel sorry for you. Not just because you may get a serious illness also, but because you are wasting time and money, somehow trying to make sense of this habit by believing that it makes you feel better, more attractive or sophisticated. Wake up! You are spending 1,440$/year on cigarettes alone if you smoke 3 packs a week. If you are young enough, in 30 years that will be 43,200$, gone like smoke, literally. And I am not going to talk about drinking because who knows how many liters a person can drink on a "good" weekend out. I'm just going to give you some stats. In the 2016 Eastern European part only, there were 1,4$Billion liters of craft beer consumed and market revenue was a whooping 92$Billion.

4. Watching TV.

Let's say a person spends 2 hours after work to watch some of his favorite TV show that he is in love with. That comes down to 14 hours a week. 56 hours a month or 672 hours a year. Just imagine watching TV nonstop for 28 days. And that's exactly what happens when you spend just 2 innocent hours on the TV for a year...And in the end, people still give the old story of "I don't have time". It is crazy. How many things a person can do with this time to improve his and his family situation, I'll let you decide.

5.Impulse Buys.

OMG, the weekend is here! Look at all these "discount"! Do you know that a "discount" is a myth? You do? Alright, so what do you still shop for them?! When you looking to get the seventh pair of those great looking sneakers that you always wanted, how much do you think they actually cost? Let's say the price is 135$ and now it's 95$ on the "discount". If you going to look inside the shoe, you will see that it's made in the eastern part of the world, which means the price of shipping these shoes to the store is included in that price of the shoes. You're buying them in the store right, someone is leasing the premises and you are paying that with your shoes, electricity, staff, TV ads, all that included in the price of those shoes. But how much do these shoes actually cost? I'll let you answer this. So next time when you hunt for "discounts" at least you know the story behind it.