There is no doubt that majority of the world's population are poor. The most fundamental principle that underlies poverty is the fact that when our needs, I mean, our must-dos (not our desires, not wishes which are resource wasters and which can be curtailed through prudent spending) are more than our income, then the direct result is POVERTY.
Let us cite an example: In Nigeria, a man with a wife and two children must spend at least N60,000 per term (or N180,000 a year) on school fees, must spend average of N300 to feed each family member on daily basis i.e. N439,200 a year and attend to several other needs of life too numerous to list let us say this will be in the region of another N600,000 per annum. Assuming the man's total net spendable income is N700,000 per annum, such a man must borrow N519,200 to maintain his family. This amount is the level of his poverty. If he repeats this over many many years then nobody in his family will enjoy peace. He will hand over his poverty LEGACY to his children frome generation to generation. This is the major cause of poverty.
Until a man earns enough profit (this is attainable) from business or enough spendable income from paid employment (which may not be) he will never get out of poverty. Therefore let everyone budget what he needs to spend and invest everything he has towards making the very amount. This will take a great sacrifice. And that sacrifice is the price to pay to get out of poverty! God bless you.
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Let us cite an example: In Nigeria, a man with a wife and two children must spend at least N60,000 per term (or N180,000 a year) on school fees, must spend average of N300 to feed each family member on daily basis i.e. N439,200 a year and attend to several other needs of life too numerous to list let us say this will be in the region of another N600,000 per annum. Assuming the man's total net spendable income is N700,000 per annum, such a man must borrow N519,200 to maintain his family. This amount is the level of his poverty. If he repeats this over many many years then nobody in his family will enjoy peace. He will hand over his poverty LEGACY to his children frome generation to generation. This is the major cause of poverty.
Until a man earns enough profit (this is attainable) from business or enough spendable income from paid employment (which may not be) he will never get out of poverty. Therefore let everyone budget what he needs to spend and invest everything he has towards making the very amount. This will take a great sacrifice. And that sacrifice is the price to pay to get out of poverty! God bless you.
Thank you for reading Daily Energiser. Please recommend it to your friends.
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