Which financial mistakes will keep people poor?

[Nnanke Ofem]

(1)DEBTS: There’s a popular saying that what is evident needs no evidence! And that “He who goes a borrowing, goes a Sorrowing”!
Having too much debts is no disputable fact that one will run into finacial problem or poverty.One will end up working his entire life for people in the name of paying back
(2) Eating your seed(capital): When one should have invested on a business, but ends up eating the capital which would have yielded greatly in few time to come makes one to encounter financial problem.
(3): Spending more than your earnings: I would have loved to categorize this under DEBT; But on a closer look, it seem different. Living within your means or cutting your coat according to your size is a path to financial freedom, but in the case of the resverse, then the person is doomed!!!

[IS-Rep Gloria]

Well said, Sis? If you go aborrowing you will go asorrowing.
Many businesses operate on debt but must be profitable,.. so have a good business plan, hire the right people and pray for favour that the Lord will bless the work of your hands and invest your earnings wisely.
Don’t jump in lotteries and stock market when you don’t have long term medium to low risk investments in place first. Like mutual bonds and real estate.

[JUSTUS NJUKI]

Mind you customers. Build strong relationship while at the same time avoiding structural mistake.There is saying that goes”it will take you ten more times to find a new customer than to retain old(existing) one.Remember you may have plenty of stock but if there are no customers, you will end up closing your business. And finally,a business is not a love affair booth.If you mix the two,you are finished.Completely finished.

[Akampurira Susan]

Extravagancy, borrowing too much, investing in a business you have no idea about, spending more than you earn among others.

[JUSTUS NJUKI]

Let your business be a profit making identity. Draw a line between business and family.If you go lending business stock/monies to your family members and other close friends, finally your business will collapse.

[Clay Jonathan Taban]

Major contributing factor is financial illiteracy and lack of financial discipline Which are not taught in school but are vital.