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/biz/ - Business & Finance

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57004057 No.57004057 [Reply] [Original]

What do poor people need to understand about money in order to start making a living, be rich, and have a decent life?

>> No.57004287

>>57004057
Most poor people are genetically destined to be poor. They are stupid and impulsive. The idea of sacrificing pleasure in the short-term to gain in the long-term does not seem to exist in their heads. You could blame the internet, tv, or jews but honestly this is what seems to happen when IQ is not directly related to survivability. In the past these people would have died during the winter, now they are here

>> No.57004305

>>57004057
Money is not supposed to be spent for liabilities but for accumulating assets. Once you understand this, you're already one step ahead.

>> No.57004306

When a beta closes his position because he found the coin late, he will then fud the coin he just closed on in the hopes you don’t have the patience for it to run up again.

>> No.57004313

>>57004057
Discipline.
And as this anon >>57004287 said: the ability to forgo and sacrifice short term gratification for long term gratification.

There a myriad of other factors and influencers, but these two are significant.