Ten Reasons Why You Can’t Stop Being Poor
Why can’t you stop being poor? It’s seems like it should be an easy problem to fix. You owe a certain amount of money, so you just make enough money and pay your bills. Anyone who is currently experiencing poverty knows that, regardless of how much he or she tries, it just seems like there is never enough money for all of the bills.
Here are 10 reasons why it’s so difficult to escape poverty.
Late Fees and Charges
If you’re poor, then you’re probably used to paying late fees. These are often small charges, but they can add up over a period of several years. The most common late fees come from credit card companies. You’ll typically have to pay $20 or more for every month that you are late. Not only that, but your interest rate will increase.
You might also have to pay $50 to $200 to get your water reconnected or $50 or more to have your cell phone reconnected.
It’s impossible to get a college education if you can’t even pay for your essentials. Not having a degree or a certain level of education will make it much harder to get a raise, better job or many of the other things that you need to escape poverty. This problem is only getting worse because most good jobs require employees to have a four-year degree.
Nearly every poor person has bad credit due to a combination of late payments and not having enough available credit. This will cause many problems. For example, you won’t be able to get a loan for a car or house. Not only that, but you’ll have higher interest rates on any of your loans. For example, poor people often have to use payday loans. The interest rates for these loans often exceed 300 percent.
Poverty has been shown to lower a person’s brainpower because he or she will be crippled by stress, anxiety and other problems. It can become nearly impossible for poor people to make the right decisions to escape poverty.
For example, instead of saving money and paying bills, many poor people will use the money on entertainment or other distractions to temporarily escape the stress. This just makes it harder to escape poverty.
If you have been poor for a long time, then you probably having failing or substandard health. This can be caused by eating far too much processed food (which incidentally is significantly cheaper than organic food), not having enough money for proper medications or letting severe problems fix themselves without a doctor’s guidance.
Not only does this make it harder to fulfill your work responsibilities or get a better job, but you might be setting yourself up for a massive medical bill when the problems finally become too much. While it can be difficult to fix this problem if something happens randomly, it’s a cause of continued poverty that you should try your best to correct.
Being poor will cause your problems to mount. For example, someone with burst pipes will call a plumber to fix the problem. A poor person will do his or her best to jury rig the problem, but it will eventually build until the house is flooded and the walls are ready to give.
Letting problems build will often increase the final cost. Instead of paying several hundred dollars for a plumber, you might have to pay tens of thousands of dollars to fix the walls and other problems caused by the pipes. Some problems might even cause you to lose your house or life.
Access to Assistance
Getting federal assistance seems like it would be the best way to stop poverty because you’ll get money from the government for food and bills. There are several problems with this that will actually cause your poverty to get worse.
Many poor people will rely on the assistance, which will make them less willing or motivated to get better employment. Getting assistance can be difficult because you often need to be very poor to qualify for the minimal amount of money. Most funding programs are limited, so you’ll run out of money before fixing your poverty.
While assistance can help, it rarely helps people permanently fix their poverty.
People with less money will often have to live in areas that aren’t ideal. Most of these areas have much higher crime rates, which can continue your poverty for two main reasons. The first one is that you might be directly affected by crime. Robbery or violent crimes will reduce your overall finances.
The second major problem is that these areas are incredibly stressful. It can be difficult living in an area where you don’t feel safe. You’ll have a harder time wisely using your money or finding ways to escape poverty. Some people even become hopeless due to their surroundings.
People who are educated tend to find specialized jobs where they are a necessity. They are the only ones who can fulfill that role due to their education, talent and experience. Poor people are constantly on the verge of joblessness because they are easy to replace.
For example, being a cashier doesn’t require much skill. It’s easy to replace someone because most people are willing to do the job. If you are doing unskilled labor, then you can lose your job at any time.
Higher Overall Costs
If you compare a poor person and a middle-class person, then you’ll often notice that the poorer person is paying more per month for most expenses. They often pay more for living arrangements, bills, common services and nearly everything else.
This is usually due to having a low credit score or not knowing how to properly manage finances. Regardless of the reason, this will ensure that you stay poor.
Fighting poverty can be difficult. It’s more than just having enough money to pay bills. You need to fix your overall financial situation, change your understanding of money and alter your life so that you don’t fall back into poverty.