Money Archives

Why Do Poor People Stay Poor? The 3 Main Reasons

Why do poor people stay poor? How does the financial industry trap people in poverty? There are several factors that keep people in the poverty trap. One of them is the poor’s inability to access financial services. Wealthy people benefit from financial services, such as comprehensive insurance and easy-to-access credit. Despite the fact that the poor also need these services, businesses rarely provide them. Here’s why the poor have difficulty making use of financial services and how it perpetuates the cycle of poverty.

How Much of Your Income Should You Invest?

What does it mean to “pay yourself first”? How much of your income should you invest? Where should you invest it? If you want to become financially successful, the most important step you can take is to invest money from every paycheck. That’s the view of David Chilton in his book The Wealthy Barber. When you invest and leave it alone, compound interest will ensure the long-term growth of your assets. Chilton recommends a couple of types of investments that he prefers over savings in the bank. Keep reading to learn Chilton’s advice on what you should invest in and

Real Estate Investment Tips: If & When You Should Buy

Is real estate a good investment? If so, how much should you invest, and when should you take this step? David Chilton, in his book The Wealthy Barber, recommends that you invest 10% of your income. A good place for this money, he says, is real estate. However, he provides some real estate investment tips that help you know if and when you should buy. Here’s what you should consider if you’re thinking about investing in real estate.

What Is the Key to Success in Trading?

Why do most people give up trading? Is trading really that hard as it’s made out to be? What does it take to become a successful trader? One of the keys to achieving success in trading is simply a matter of trading a lot. Provided you have a sound strategy, over time you’ll become more adept at reading market patterns and predicting what happens next with ever-increasing accuracy. Here’s how to achieve success in trading.

Kate Raworth: Challenging Economic Assumptions

What are the core economic assumptions? Do the current economic assumptions align with the ultimate goal of economics? According to Kate Raworth, economics has developed some core assumptions about human nature, what an economy exists to do, and what the social science of economics is meant to achieve. According to her, if the economy is to better serve humanity’s needs, these core assumptions need to change. Here’s why the traditional economic assumptions are flawed, according to Raworth.

Should You Invest in Index Funds? Yes, Here’s Why

Should you invest in index funds? Are they better than mutual funds? In The Wealthy Barber, David Chilton argues that the best thing you can do to reach financial success is to invest 10% of your income in mutual or index funds. Then, sit back and take advantage of the compound interest. He explains what index funds are and why he believes they are a better investment than mutual funds. Keep reading for index fund advice from Chilton and others.

How to Make Money as an Artist: 7 Ways to Sell Art

Are you struggling to earn income as an artist? What are some ways to sell your art? In Show Your Work!, artist Austin Kleon emphasizes there’s nothing wrong with making money off your work. He provides three methods of earning income from your art so you can make it into a career. Read below to learn how to make money as an artist.

Trading in the Zone: Quotes by Mark Douglas

Are you looking for Trading in the Zone quotes by Mark Douglas? What are some of the most noteworthy passages worth revisiting? In his book Trading in the Zone, Mark Douglas argues that winning in trading is a matter of your mindset. If you have a fear-based mindset—that is, you focus on avoiding risk—you’ll never achieve success in trading. If you are serious about becoming a profitable trader, you must overcome the fear-based mindset and adopt the winning mindset, focusing on making gains. Below is a selection of quotes with explanations.

Reluctant Entrepreneurs: Poverty and Entrepreneurship

How does poverty affect entrepreneurship? How does running a business—paradoxically enough—keep people in the poverty trap? It’s not uncommon for the poor to run their own businesses. However, running a business seldom helps them escape the poverty trap. This is because the poor choose not to invest in their businesses because they have little means to do so. Furthermore, the poor generally don’t want to run their own businesses—they often do so because they don’t have any other options to make a living. Here’s a look at poverty and entrepreneurship.

5 Mutual Fund Tips From The Wealthy Barber

Should you invest in mutual funds? If so, how do you choose among all of the options? In The Wealthy Barber, author David Chilton advises you to invest 10% of your income for long-term growth. This money should go into index or mutual funds. He recommends a particular type of mutual fund and provides advice on selecting one. Here are some mutual fund tips from David Chilton and a few others.