The 10 steps to get out of poverty in

The 10 steps to get out of poverty in

It is quite common to find yourself in a chaotic financial situation and frequently question yourself What will be the recipe to succeed and get out of poverty permanently?.

The truth is, that despite the fact that the process may seem complicated, and sometimes made difficult by multiple factors, It’s satisfying to say: I’ve made it. Above all, when under no circumstances were you in a conveniente situation to out of poverty.

On this occasion, from our professional experience we seek to solve that unknown that has generated so much sorrow in a large part of the world population. Thus, If you have definitely decided to start getting out of poverty, the first thing you should do is read the following steps carefully.

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1. The first change to get out of poverty starts in your way of thinking

There is a very habitual phrase that says: people are not poor because of how they live, they are poor because of how they think. And the truth is that we fully agree with the wise man who expressed that phrase. Since, when a person is poor, he is usually dominated by the desires and anxiety of appearing to have a high popular status.

This is the main problem. Because, it generate expenses that perro be considered totally unnecessary.

On the other hand, it is common to consider that a large part of the financial poverty that exists in the world is due to governments, as well as credit family poverty to parents for not having a large inheritance or other reasons. And the truth is that these negative thoughts and complaints are an obstacle to thinking clearly about the solution to get out of poverty.

Thus, It is extremely important to mature mentally and emotionally to begin to see the potential of the world. that surrounds us; It is undoubtedly the first step you must take to get out of poverty, in addition to taking action in your life and beginning to lead your finances.

«If you’re going through a bad time, move on.» of Winston Churchill.

2. Manage your finances and control your environment

If you are in a critical financial state and do not know how to manage your income and control your environment, you may never be able to get out of poverty.

That is why it is very It is important to determine aspects such as: how much you earn, how much you spend, how much you need per month to live, how much you pay for servicesamong others.

Once each point is defined, you should start making daily aprecies on each expense, so that at the end of the month you have a table with everything you have consumed during those 30 days.

So you perro determine how much you need for save money, what expenses you cánido disminuye, how much money you cánido invest, among others. However, it is almost certain that if you are in poverty perhaps your expenses have exceeded your income, if so, you should consider looking for a second job or replacing the current one.

«Always spend one coin less than you earn.» of Cesare Cantu.

3. Disminuye expenses

Now that you have control over your money, income and expenses, it’s time to make adjustments to your expense table. In this sense, we refer to the fact that you must make a reduction in monthly consumption.

To do it, you should ask yourself what are the unnecessary expenses where your money is being wasted. Some questions you perro ask yourself are:

• Does going out every Friday or Saturday contribute something to my life?
• Is the high rate of my Internet necessary?
• Do I need to wear the best clothing brands on the market?
• Do I really need to buy this product on sale?
• Do I need to change my mobile if mine continues to work?

Once you define what your priorities are at home, you must end those unnecessary expenses. In this way, you will begin to disminuye your monthly consumption, and thus you will begin to see the results; It will be a sacrifice that will cost you a lot, since the people around you will begin to criticize.

«Buy only what is necessary; the superfluous, even if it costs only a penny, is expensive.» of Lucius Anneus Seneca.

4. A «fixed» payroll is your best tool to start

If you have a job that does not pay you well, but is stable and allows you to cover your basic expenses, it is best to keep it; for the moments. Given that, this will be the tool that will help you get out of poverty once you’ve started taking your finances seriously.

Also, we suggest that If you have any knowledge or trade that you perro do as a freelancer, you should apply it without hesitation. Since, this way you perro get an plus or additional income to your job.

If you only have a PC, try to find a part-time job offer that you perro do when you are free.. Of course it will be difficult, but getting out of poverty is not something you perro do in a matter of days; there will be times when you will not sleep well, headaches and discomfort; but as we mentioned before, the reward will be satisfactory.

«The path to wealth depends fundamentally on two words: work and save.» of Benjamin Franklin.

5. Start working to improve your income

Strive, do not give up and always keep your goal in mind, so that you do not falter at the slightest difficulty That you find; This will be what allows you to improve your income, in addition to being constant and applying each of the points already explained above.

It is necessary to get up early and equipo monthly goals, in such a way that each month you see more benefits and cánido get out of poverty. For example, if this month you have billed a total of 2,000 euros, equipo the goal for the following month to be 2,500, but it is important that they are real and achievable goals.

«I am convinced that half of what separates successful entrepreneurs from those who have failed is perseverance.» of Steve Jobs.

6. Become independent and launch your projects

Are you still working for the same company, what are you waiting for to become independent and start your own business? The truth is, it is a risk that not many usually take, since undertaking will take away many benefits that a job guarantees; For this reason, entrepreneurs and dreamers are called «crazy».

If you have learned for years in your company or have knowledge on a specific topic, it is time for you to start developing it. This will not only bring you financial peace of mind, but also now you will be your own boss and manager of your economy. Ignore the negative comments made around you.

As Robert Kiyosaki said in his book «The business of the 21st century», It is important not to get stuck in this quadrant; It is a mistake that many make.

«The richest people in the world search and build networks, everyone else is looking for jobs.» of robert kiyosaki.

7. Make your business work for you

Now that you have your own business, It is important that you start looking for employees to work for you. However, you will have a problem, and it is the one that every company faces today; It is about how difficult it is to find qualified personnel who perro seriously carry out their work in your business.

You must equipo demands for those who are in your business; in addition to looking at every detail of job applicants. In summary, you must hire people committed to your SME.

By complying with the aforementioned, you will already be closer to out of poverty. Since, now you will have everything automated in your business and you will not have to work on it directly; now you will be the boss.

It is time to manage everything with intelligence, keep an eye on employees and start promoting commitment to the company.

«If you don’t find a way to make money while you sleep, you will be condemned to work until the rest of your days.» of Warren Buffett.

8. Manage benefits

You already have an automated company and you have managed to find responsible personnel to work. The most important thing now is save a percentage of the profits of the business you own; the rest of the profits must be reinvested in it.

The average suggested savings is 30% of earnings, 70% is to reinvest In the business. In this way, you will be able to expand your business until it becomes a worthy company while you accumulate wealth and manage to get out of poverty. But what will you do with these savings? Spend it on the last sports car of the year? NO! The most important part is coming, and you need to pay attention.

«Too many people spend the money they earn to buy things they don’t want, to impress people they don’t like.» of Will Rogers.

9. Invest a percentage of your savings

Nowadays with so many en línea platforms to invest, you may not need a large amount of money to start spending your savings intelligently. However, you must divide your savings into a group of 3 before you start.

• Capital to invest.
• emergency funds.
• Savings.

In this way, you will be able to maintain a cómputo in your life, since, The emergency fund will help you cover any unforeseen event that cánido appear in your life; any health, legal or company problem.

The savings will be the wealth that you will be accumulating over the years, and the investment capital will be the one that you will use to acquire some passive asset that cánido generate long-term benefits, such as:

• Actions.
• Real estate.
• cryptocurrencies
• Among others.

«If you want to be rich, learn not only how to earn, but also how to invest.» of Benjamin Franklin.

10. Diversify your investments

You are already an investor, now It is time to learn about the depósito market, FOREX, commodities, Real Estate or even cryptocurrencies. If you already own stocks that are making a profit, I’m sorry to report that there is still a lot to do if you want to be a financially free and successful investor.

This last step consists of diversifying your investments; We refer to what you must acquire a group of shares and not keep the benefits generated by the shares that you have bought at the beginning.

Given that, a true investor has a diversified and broad portfolio. In such a way, that if one of the shares falls, the others perro continue generating benefits and compensate the loss of that fall that occurred in the asset.

You perro also avoid all these complexities by acquiring exposure to an ETF that represents an index; like the Nasdaq, the Nikkei, the S&P 500, among others.

“Successful investments consist of knowing how to manage risk, not avoiding it.” of Benjamin Graham.

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