How to Break Generational Poverty in Your Lineage.

[Jasz]

Oftentimes, many people especially in Africa, Asia, even in Black America. They believe their poverty originated from generational curses. I have a friend, each time he is faced with financial challenges, he says words like " This thing is looking like a generational curse from his family." Do they exist?

Why are there poor people?
I would call it generational bad habits. They cause generational poverty.

For instance: your father gave birth in poverty, you also grew up and gave birth in poverty. You might advise someone to be a little bit OK or financially stable before they go into marriage, they reply with " marriage brings blessings, Children bring blessings too. Yes! They are good things but we have to be wise in our actions too.

Sometimes they get reasonable money but still, the generational bad habit won't let them make good decisions. When their grandfather got some money, he married a second wife. Great! His father bought a second car when he got money. You follow the same trend and now you Want to buy an iPhone 13 and the latest designer. These things are sweet but they are liabilities.

"The way to make money is not to make money but by multiplying money."

You put money in banks continuously for safe keeping, successful people didn't do that. It's just like keeping a block of ice one a table, it will melt away. Don't let devaluation kill you before you learn!. Highest interest rate (10%) given by banks can fetch you much.

If you invest your money properly, there is a risk, you might lose it but in the bank there is a greater risk it will lose value.

Past events are the best predictor of future events. Look at the history of stock market, exchange traded funds, mutual funds and Cryptos. Overtime, they go up more than they go down. People who are poor have this bad habit, they want to make money overnight, you can only make money overtime.

 

[Jamoflondon]

If you ask me, I think that there are some two things that one should take quite seriously, or even let me say three things and they are
Hardworking
Saving up
Investing

Hardworking: As a man or woman I believe that it is everyone’s duty to be hardworking in your own way because there is no way you expect to make money if you do not work, even if you choose to go illegal, you will still need to work hard and even harder sometimes because you have to think twice your normal thinking to steal or scam anyone which makes it a harder work for anyone that chooses it.

Saving up: As you are working, make sure you are saving some money no matter how little the money might seem to be, just do not hesitate to save up for the sake of future purposes, believe me when I tell you that it always work.

Investing: This is another key point you should take note of, don’t just save up for emergency purposes only, when you save your money to some higher amount, think about a certain business you can invest the money in, and do not mind the duration it will take to yield profit for you, long time investments are usually the best in terms of income.

 

[eldavis]

To break out of something, you should understand what you want to break out form in the first place. To make money requires discipline, hardwork, saving and investing, yes they say saving does not give you much so one should focus on investing but what you should understand is this, why saving also invest as well.

 

[Skysaint]

Well, that's a good prospect from anyone and it will take a lot of determination to come up with the idea to break the curse as it may seem.
But from what you said, it is in their linage so there is every probability that the parents of such person are poor and also did come from a poor background. So breaking that will be a lot harder because making money from the scratch is always more difficult than expanding an already made wealth.
So it will take a courageous and a hardworking person to be able to achieve this and someone who is always conscious of where he came from (his background).

 

[Sherman198]

This believe truly exists and especially in Africa, where people tend to revolve poverty around generational curse. But I don't think everything is a curse. We all need to work harder, when we are not working, or when out has not come, we tend to believe so many things are the cause of our misfortunes, whereas somethings just takes time before they flourish.

And keeping money in the bank is a wrong move in this era. You can keep the amount you will be needing for upkeep in the bank, and invest the remaining one by buying assets. There are so many assets to buy, anyone can invest in Crypto, stock, bonds and so on and so forth!

But there is also a greater risk when buying assets too, cos if you go and buy the wrong assets, you may be losing your money. It's very important to make a proper research before making a move to buy any asset.