Why you still don't have enough money: the main causes of poverty

Many people complain about lack of money and dissatisfaction with life. UaPortal has examined the main factors that lead to a lack of money and provided recommendations on how to overcome them.

Insufficient income

Low wages, unemployment or underemployment can make it difficult to meet material needs and save for the future. In this case, it is necessary to find additional sources of income or apply for financial assistance to change the situation for the better.

Budgeting and financial planning

It's easy to spend all your money without a clear budget. To cope with this problem, you need to create a monthly plan that outlines your income and savings goals. By tracking your spending and making informed decisions, you'll make sure you have enough money to cover your needs.

Impulse purchases and overspending

It's easy to get caught up in the excitement of shopping and make impulsive purchases without thinking about the long-term consequences. To avoid this, work on self-discipline and distinguish between your needs and wants. Therefore, before making a purchase, evaluate whether it meets your financial goals and priorities. This way, you will avoid unnecessary expenses and save more money.

Lack of financial education

Without a clear understanding of basic economic concepts such as budgeting, saving and investing, it can be difficult to make informed decisions about money. That's why it's important to seek out resources and education.

There are many sources from which you can get information, such as books, online courses, and professional advisors who can help you improve your financial literacy.

Earlier, UaPortal shared how to retire at the age of 60 if you lack a few months of insurance record.

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