The difference between the rich and the poor is financial knowledge

[Ojima-ojo]

A person's success is not only determined by how much wealth he has, but also by how he uses his resources. Understanding financial matters helps a person make the right decisions. Many people are not financially strong even after earning a good income because they do not save money from their income and save for the future, which is why they are not financially strong. In today's era, education and degrees do not make a person successful, but financial understanding and the skill of making the right decisions are also necessary. If a person learns to use his money properly, then over time he will create better and better opportunities for himself.

In as much as education don't make a person rich or successful, we have to place some level of priority on the need for education as the basic foundation for a successful life and career as a person, no one achieve some level of success in career without attaining the demand degree or certification to reach such level.


Financial intelligence will become more effective if combined with education and every body should already know about that, those that make financial wealth with zero education have limit to how that wealth are distributed as chain compared to wealth in the hand of an educated person.

[LUCKMCFLY]

Look, lately it's not like that. A poor person can acquire knowledge; in fact, they do because it's the weapon they can build. To become wealthy, I've come to the conclusion that besides having knowledge, you also need connections. With connections, you can do almost anything: get doors opened for a job, gain leverage over others, and tilt the competition in your favor.

The rich can afford to be ignorant; they have the capital to pay advisors to make the best decisions for them. The poor have to prepare themselves. Knowledge will never be lacking if you seek it; the real bottleneck is the lack of connections and capital. But the lack of money can be tackled with a steady job where you systematically stack Bitcoin to build leverage—whether that means starting a business later or remaining active in the market using the DCA method for long-term growth.

High financial education will always be a major advantage for those who build it, because in moments of market stress or when forced to make a quick call, they'll know exactly what steps to take to protect their position.

[Saltysugar99]

I don’t agree with this tho most of the things you mentioned is correct but i still don’t agree with you on this. Yes earning a degree is good and it important to back up your finincial knowledge but saying a poor man lacks finincial knowledge I don’t agree with this because they are so many poor people that have good finincial knowledge that it is been carried out you will be supprised with the out come but nobody to sponsor this ideas and no money to execute those plans of their and thats why you see most of them hustling out there to make a living and talking about bitcoin so many people today have made money from it, while others have lost money because they invested without basic understanding about it so would you say those who lost are poor people?

There is a difference between being poor and having financial knowledge. There are many people who do not have financial capacity, but they have a lot of knowledge to do business, with which they can make a profit if they start. But they are not able to start because they do not have the financial ability to start. Similarly, financial intelligence does not come from having a degree alone. Real life experience is much more important. And when it comes to investing in Bitcoin, those who have lost cannot be called financially uneducated. Because since the price of an asset like Bitcoin changes a lot in a short time, if someone panics sells after seeing this price volatility, it must be because of their wrong mindset. Here, it does not depend on how much wealth they have or how much knowledge they have. And for me, the main thing is that knowledge and capacity are different things. But if you have financial ability, you can apply the knowledge.

[Curious T]

When you put it like that, you make it look so easy. It's not that simple. Having knowledge alone doesn't make you become wealthy. You need to be able to act on that knowledge. You need to have the resources to turn that knowledge into wealth. Right now I have the knowledge of what to do to make money, but I don't have the funds. I am still a poor man with my knowledge. So what I need now is to work on how to get the money that I need. Knowledge is good, and it can get you wealth or opportunities, but the difference between the rich and the poor is not knowledge. Life is not that simple.

[Donk1]

Talking talking about the mentality the rich has compared to the poor, the difference is there and that is why being poor or rich begins with the mindset, some things have to be decided by us right from what we have conceived from our mind and the mentality we have to convince us to go after what we desire to achieve in life, you should not feel inferior by our ambition or let our current situation weigh us down, we should be well determined to go for the best and also give it all its requires to achieve excellence in everything we do.

Well anyone can have financial knowledge, rich or poor that's not something that is determined by a person's net worth. It's just that not many people have the opportunity to put that financial knowledge into good use, so they probably end up being poor.That said education gives you knowledge, but it doesn't set any path for you as an individual. I believe this life is all about risk to reward no matter how you see it, except if you were born into a wealthy family. Still being born into a wealthy family doesn't mean you can't fall down that's if you don't have the financial knowledge, psychology, and understanding of your parents who left their company for you.It's easy to say in such a situation there are two options hire someone with the knowledge or allow the company to go bankrupt. And that person you are hiring might actually be a poor person. Scenarios like this happen reality is unpredictable. Still the fact remains a person must always think about the future even if the outcome isn't certain. That's just it.........