Why workers still remain financially poor

[Augusta]

The fact remains that they are many workers that are income earners but still tends to suffer from poverty. It is always sad that people are working but are still in high lack of funds. This is about workers having low cash both in the account and away.

Alot of this emanate from the financial inability of the workers
So what are the reasons that workers still remain financially poor despite getting paid.


Lavish spending
One outstanding reason for this is workers spending their income lavishly. Some workers just need flashy things or material things that might not serve a long purpose in their lives

High debt
Workers with high cravings for debt naturally become financially poor even when they get paid on time because the salaries are used to offset previous debts

Lack of saving culture
Not saving money has brought about financial decline for some workers . They don't have the habit of savings. They prefer to live from paycheck to paycheck.

Add yours?

 

[Holicent]

People who work for a living still remain financially poor. This is because they are not able to save and invest their money, which is the basic requirement of economic growth. In fact, most people in the world still live below their means. They do not have enough money to make ends meet, let alone provide for their future needs and wants.

Those who work for a living must wait for years before they get any returns on investments and savings. They may need to continue working until old age before they can enjoy their hard-earned savings or investments. This explains why workers still remain financially poor despite having decent jobs with good pay, benefits and working conditions.

Workers are the backbone of any economy, but they often struggle with money problems. It is common for workers to receive low wages, which limits their financial opportunities.
Many people work part-time jobs instead of full-time jobs, which also reduces their earnings.

 

[Activator230822]

Most workers in my locality are very poor financial. I think there are so many contributing factors that may lead to this mess.
One of them being;

Inadequate salaries and wages
So majority of the people who have been employed and are working on the formal sector are paid very little and inadequate amount of salaries and wages. Those people tend to suffer in life especially during this rough times whereby the inflation rates are so high and the prices of almost every items are so high too.
This subsequently leads to higher cost of living that the poor workers can't withstand.

Lack of saving culture and impulse buying
Most of the workers haven't developed a saving culture and self discipline on their buying habits and prioritization. Majority of them they don't save even a single cent upon receiving their salaries/wages. This makes them to spend more on impulse buying and enter into a deep indebtedness after realising that they had not purchased basic food items and other daily used items by human beings.

 

[Yusra3]

The reason why workers remain financially poor is because there is a lack of financial education among the general population. The majority of people in the United States have no idea how to make money, but that doesn't mean they can't. There are ways for people to start earning money immediately with limited resources and skills.

There are many ways that individuals can earn money from home or from the comfort of their own homes, whether it be through writing an article or creating an app. The key is knowing how to do these things and having some basic knowledge about what it takes to create something successful.

If you want to start earning money from home, then you need to start by learning how to create websites and apps that can help businesses sell their products online. You could also learn how to write articles for online publications or blogs that will allow you more opportunities for promotion within your industry as well as gain exposure among a wider audience base which could lead towards bigger things down the line like becoming a columnist where your opinion counts more than ever before!Why workers still remain financially poor

 

[Suba]

Of course why do many workers still remain financially poor, and we don't have to always be prejudiced or negative, many of them earn over USD$600 a month but because they have to help their parents financially and pay for their younger siblings to go to college then they (workers) will always be lacking money every month. There are also many workers who have girl friends who like shopping and live a luxurious lifestyle. So the cause of the lack of money in workers can be caused by external factors. Although there are also many internal factors that make workers still remain financially poor, such as:
Accustomed to living in luxury, because his parents are rich, since childhood he has never felt a lack of money, so after living separately from his parents, or living in another city, he will have difficulty managing finances.
Workers who don't have future plans, these workers don't have targets or desires for the future, for example buying a new car, getting married and buying residential property, then their salary will always run out every month