EVERY Reason Why You’re Poor


EVERY Reason Why You’re Poor Blog Image

You want to be financially free. And listen to me when I say you absolutely can be. I don’t care what your background is. You can make great money online because I see it happen all the time. But also, listen to me when I say that no matter what money online opportunities you see on YouTube, you will stay stuck being broke if you continue to do the same dumb stuff most people do that keeps them poor. And in this video, I’m telling you exactly what that dumb stuff is so you can avoid it. Now, this video might seem like I’m roasting you. But that’s just because I want you to succeed, so I’m not holding back.


I’ve helped a lot of people generate massive wealth in their businesses, so I know what holds people back the most. I want you to get the most value in the shortest time possible. You may want to click off and go find more passive income ideas or whatever. But I promise you now if you aren’t willing to watch a video like this – then you aren’t serious about making serious money. It’s as simple as that. But if you are, in fact, serious about building real wealth, tune in and let me tell you the 12 things you might be doing that keep you broke. As we go through this list, be really honest with yourself about which ones apply to you so you can address them as fast as possible. Let’s dive straight in.



Number #1: You haven’t set clear financial goals

Being poor is like a vortex. It needs some serious energy to break out of it. But most people struggle to generate the momentum they need to do that. One of the biggest reasons for this is they haven’t set specific, clear, and attainable financial goals. They’re just vague and foggy. The fact is, if you don’t have a clear goal, you aren’t going to hit it. Kind of obvious, really. When I ask someone to point blank, “what’s your financial goal?” too often, they’re just kind of like, “well, I want to be financially free.” … well so does everybody. But that kind of answer is too wishy-washy, and it doesn’t give you concrete steps you can take. Getting specific with your financial goals is the first step to actually stepping onto the path of making things happen. I can usually tell how successful a person is going to be by the quality of the goals that person has created for themselves. Successful and unsuccessful people share the same goals. But the difference is in how those goals are framed. Start by asking yourself a few useful questions, such as:


  • Where do I want to be financially in the next 5 years
  • How much can I save per month to make sure I can be there?
  • What income streams can I build?
  • What challenges do I anticipate, and how do I plan to overcome them?
  • How much do I currently earn & how could I earn more?


Make sure your goals are specific, measurable, achievable, realistic, and time-conscious. This will give you the rocket fuel you need to consistently take action to change your situation.


Number 2: You don’t have a budget

Here’s something that might surprise you: When I started meeting wealthy people, it surprised me. Rich people are more money-conscious than poor people. Some of the richest people I know are the stingiest when it comes to their finances. Now, this surprised me because I thought that having a ton of money would make you less conscious when it came to spending and saving because, well … you’re rich. You don’t have to pinch pennies anymore, right? But this is completely the wrong way around. In fact, rich people got that way exactly because they are super conscious of their income and expenses. That’s literally how they got there. So, if you want to stay poor, keep yourself completely in the dark when it comes to your budget. Don’t track anything. Literally, spend money and don’t even think about where it’s going. Don’t cut out unnecessary costs. Don’t prioritize saving money. Avoid checking your bank account at all costs. You’ll stay broke forever.


Number 3: You don’t invest in yourself

Here’s something I’ve always thought was absolutely crazy. Most people who watch YouTube videos don’t click the like button. Okay, I’m joking, but definitely click that like button if you’re enjoying this video anyway. But what I really think is nuts is that the majority of people are struggling in some way financially. Nearly 7 in 10 Americans (69%) have less than $1,000 in their savings account, according to one survey. And yet, go out in any major city on a Saturday night, and you’ll see every club and bar packed wall to wall with people spending money on $10 cocktails.


And if you suggest to these same people that they buy a course on personal or professional development or hire a mentor .. they’ll look at you like you’re the crazy one. How does this make any sense? Well, it doesn’t. At all. One part of achieving uncommon success is looking at what the majority of people are doing and choosing the exact opposite. So instead of spending money in expensive restaurants, clubs, and bars – you absolutely should have a big chunk of your monthly income set aside for personal development, especially if you’re not where you want to be financially. Your skills and abilities are how you provide value to the marketplace. Your value to the marketplace is how you get paid.


And if you don’t invest in yourself, your value doesn’t increase, and neither does your income. It really is as simple as that. You want to get to the position where if you lost everything, you could move to any major city, and within five years, you’d be wealthy again. That really is what sets wealthy people apart from those who struggle. So, identify the high-income skills to invest in. Find 3 top resources such as courses, books, and even free resources like blogs and YouTube channels. You don’t just invest with money but also time and energy. Commit to a daily learning practice, and I promise you that in 5 years, your situation will look completely different.


Number 4: You only have one stream of income

Here’s something you should know. Having just one stream of income is like playing Russian roulette. Having a single source of income, such as your job, and then crossing your fingers and hoping it stays that way. Well, here’s the thing. No matter how safe and secure you think your job is, you can still be laid off at a moments notice. The market fluctuates. The economy isn’t as stable as people think it is. A person can work for ten years in the same company and get laid off when that company needs to restructure.


It happens all the time. The fact is, it’s never been easier to generate multiple sources of income, so you don’t have all of your eggs in one basket. If you’re curious about how to build more streams of income and even how to do it, there are tons of videos on my channel that dive into the specifics. Think freelancing, starting a side business, or investing in stocks or real estate. Whatever the case, just put a plan in place to make sure you won’t be in a really bad situation if your main income source collapses.


Number 5: You’re financially illiterate

Okay, so I’ve gotta be real with you. Most people are financially illiterate. And this is one of the biggest reasons they will be broke for the rest of their lives. Finance is something we’re never taught in school. You were taught how to play the recorder for literally no reason. You were taught long division and multiplication even though handheld calculators have been around since the 60s for god’s sake. But your teachers refused to teach you the one thing that might help prevent you from being broke as an adult. Basic financial education. So, if you’re financially illiterate, it isn’t entirely your fault.


However, what you do after this video is 100% your fault if you don’t decide to change this. Why? You can learn everything you need to know from free YouTube channels because the internet is amazing. Now, I know personal finance is boring, but that’s exactly how it should be. That being said, I recommend the channel called How Money Works because it’s super useful and pretty much has the YouTube game nailed down more than any other channel I know. The more you learn, the more you earn. So start educating yourself if you want to raise your net worth. If you don’t, then you’ve got nobody else to blame.


Number 6: You’re in unnecessary debt

Do you want to know one of the stupidest investment decisions I see people make way too often? Buying unnecessary household stuff like tvs and sofas on finance. Depreciating assets that lose value over time. Yeah, most of the time, it’s interest-free…but if you don’t have the money to buy a new sofa. Don’t buy a new sofa. What’s even crazier is that many people will take out loans on stuff they don’t need. Most of the time, these purchases are purely for retail therapy and drag you into something you should not feel comfortable in. And that’s unnecessary debt. The status quo tells us that being in debt is just a normal part of life. This is absolutely wrong. That being said, not all debt is the same. In order to build a business, you may need an investment that puts you in debt for a certain amount of time, for example. But blindly going into unnecessary credit card debt and staying there because you didn’t have the financial discipline to resist buying a new car is one thing that will keep you poor, making someone else rich for a long time.


Number 7: You undervalue your network and relationships

Porter Gale, author of “Your Network Is Your Net Worth,” says: “I believe that your social capital, or your ability to build a network of authentic personal and professional relationships, not your financial capital, is the most important asset in your portfolio. The fact is, we live in a hyper-individualised society. The myth of the self-made millionaire is very real, and it’s something we all seem to believe on some level. But it’s complete bullshit. Even Arnold Schwarzenegger thinks so (play clip) attributes most of his success to the amazing people in his life over the course of his career.

If even the Terminator admits that we can’t reach our potential alone, maybe we should listen. The reality is your network can open doors to opportunities you might have never found on your own. So, in order to build your network, it helps to attend industry events, join professional groups, and set the intention to connect with other people who might help you on your way. Help them in return, and you’ll create relationships that will make you way more successful than you could ever be alone. 


Number 8: You have a victim mindset

If you pay attention to the way most people talk about their financial situation – they do one of two things. Complain and blame. About the government, the economy, the stock market. The specifics don’t really matter because a person who is determined to avoid responsibility will always find something to point the finger at. This is what’s called a victim mindset. And it absolutely destroys your potential to achieve true financial freedom. There are three signs you have a victim mindset. First, you have a belief that because bad things have happened in the past, they’ll continue to happen to you. Second, you believe that others are to blame for your misfortune.


And lastly, you believe there is no point in trying to make a change because it won’t work. That’s not all. With a victim mindset, when other people try to help you, you’ll likely retreat into self-pity and argue that nothing will work. And the honest truth is, mostly, you want to feel sorry for yourself rather than put in the work towards any meaningful change. But look, people don’t just wake up and choose to have a victim mindset. This stuff is rooted in pain, trauma, and disappointment from the past. But while it’s okay to feel bad about what happened to you and work through some difficult emotions, if you have a victim mindset, you need to find a way to end the self-pity and work towards growth. Otherwise, these feelings will follow you around for the rest of your life.


Number 9: You avoid taking risks (even calculated ones)

In order to build wealth, you’ll need to take risks. Staying in your safe comfort zone can become a prison. If you’re used to making 30k per year and refuse to take a step that could propel you to earning more, you’re guaranteed to remain there forever. Now, I’m not saying you should take your entire life savings and dump it into Dogecoin or some other scammy investment. I’m saying that you should be on the lookout for good investment opportunities and be able to evaluate the potential risks and rewards. It’s about making informed decisions.


This is a whole skill in itself that involves doing enough research and determining if the chance of success is higher than the chance of failure. An example of a calculated risk might be something like investing in a stocks and shares ISA. Your capital is always at risk whenever you invest, but you might have determined that the steady growth in income outweighs the chances of it crashing. Refusing to take risks might help you hang onto whatever income you manage to generate. But it won’t help you escape your financial troubles. 


Number 10: You spend time with people who keep you poor

If I met you today, I could predict your financial future with just one metric. Who you spend your time with. Misery loves company. And people generally don’t like to change. It might be the case that the people around you are terrible with money and spend it on dumb stuff like sofas and cocktails. And it’s not uncommon at all that when you decide to change for the better, the people around you don’t seem to support you. In some cases, they’ll even sabotage you. Now, what I’m about to suggest is, hands down, one of the most important things for your success.


Take a look at the people you are surrounded by. Do they support your long-term goals? Or do they in some way hold you back? If the answer is the latter, you might have to make some tough choices about who you spend your time with. This can be hard, but the good news is that a change in the people around you can transform your life in big ways in such a small time frame that you’ll honestly be shocked. You want people around you who are positive, growth-minded, have a good relationship with money, and are helpful and supportive of you. And when it comes to business partners, you need to know you can play a long-term game with them over a big stretch of time. Here are three questions everyone should ask when it comes to deciding who to keep in your life. 


  1. Do I trust this person with my wife if I wasn’t there for a long period of time?
  2. Would you trust them to hold a huge amount of money for you?
  3. During the holocaust, would this person let you hide in their home?


If the answer to any of these is no, find better friends. 


Number 11: You are a consumer, not a creator

Now, here’s something you may not have noticed yet. 95% of people are consumers. The other 5% are the ones who create the stuff that everyone else consumes. And they’re the ones who are paid the most handsomely in our society. One of the reasons why consumers almost never get wealthy is because they’re too distracted by that consumption to change their situation. The attention economy is literally making money from their eyeballs, and it’s specifically engineered to keep them hooked as long as possible.


If you want to be a part of the other 5% – it’s essential that you’re able to reduce your consumption, stop being distracted all the time and focus on what you’re creating. If you can’t create anything of value, you will not be able to extract value from the marketplace. So repeat this to yourself regularly. “Consumption, not creation,” and maybe you’ll remember this when you have the choice of creating content for your business or watching the latest YouTube video. However, you should still watch these videos, obviously. 


Number 12: You trade time for money

Naval Ravikant is an Indian-American entrepreneur and investor. And he’s currently worth $65,000,000 as of this recording. He’s given a ton of amazing advice over the years when it comes to wealth building, and here’s one absolute golden nugget you need to hear. “You’re not going to get rich renting out your time. You must own equity — a piece of a business — to gain your financial freedom.” and I 100% agree. Most people are trading their time for money, and time is a limited resource.


Therefore, your income is limited. But decoupling your income from your time through things like products, services, and investments will allow you to earn money while you sleep. Not only that, it will increase the amount you can earn by a substantial amount. Making the decision to stop trading time for money was one of the best decisions I ever made in my life, and I want to tell you about it in just a moment. Now, if you want to know the best way to decouple your time from your income, listen to this…