HOW TO OVERCOME POVERTY

The agony of poverty

Poverty can be defined as a persistent shortage of the financial means necessary to upholding a relatively acceptable or comfortable quality of life. Rising above poverty involves improving several aspects of your personal and financial well-being using a number of different methods.

Twenty-first century large share of the world's population today suffers with old enemy of poverty. This problem is responsible for bringing a large contingent of mostly young people in the theft, drugs and organized crime, these actions, in many cases are alternatives for these people to be able to survive and be accepted in the environment in which they live.

Poverty is increasing every day. Many, who never believed they would lose their homes, be in debt, and now stand in lines for food, are facing reality. Their biggest problem is how to overcome poverty. It might interest you to know that at the start of the 21st century, 1.2 billion people live in abject poverty. More than 800 million people go to bed hungry and 50,000 people die every day from poverty-related causes. In Nigeria; according to the report of the Nigerian Bureau of Statistics, published on the Nigerian Tribune dated 13th February 2012 the percentage of Nigerians living in absolute poverty — those who can afford only the bare essentials of food, shelter and clothing — rose to 60.9 per cent in 2010, compared with 54.7 per cent in 2004 and recently, there is fear that the percentage of poverty might have risen to 71.5, 61.9 or 62.8 percentage in 2012 since the poverty in Nigeria is rising with almost 100 million people living on less than $1 a day despite strong growth in the economy.

All you see is not all there is and as such; there is dare need to overcome poverty both in the present and in the future. Below are the few steps you must undertake to out-smart and overcome poverty.

Avoid counter-productive spending behaviors. Assuming responsibility for ending poverty entails cutting habits out of your life that contribute to poverty.

• Unnecessary spending. Don't spend money on anything you don't need.
• Betting on chance, rather than planning for a future. Studies show that the poor spend nearly twice as much on lottery tickets than the affluent. Statistically speaking, this type of spending rarely pays off, and contributes to poverty.

Take advantage of government welfare programs. These programs can be used as a stepping stone for overcoming poverty; you can use the funds to offset your living expenses while you advance your financial situation. Apply with local, state and national government agencies for things like agricultural, healthcare (NHIS), education loans and grants. Recently in Abia state, CBN partnered with the state government to release 1 billion naira to farmers in the state as an agricultural loan. Discover and always be at alert to know which government agencies is granting loans to the citizens.

Increase your income. To effectively end poverty requires that you have a steady stream of income that not only covers your monthly financial obligations, but that also allows you to save for and invest in a future without poverty. You may employ 1 or a combination of these methods to increase your income:

• Job advancement. Ask for a raise at your current job, or apply for a higher-paying position within your organization of employment.
• Multi-tasking/second job. Taking a part-time job on the side can provide you with the temporary means for overcoming poverty while you work toward more permanent, full-time opportunities.
• Side work. If you have a marketable talent or skill, then you can use it to generate extra income to overcome poverty. For example, you can cook meals, write articles for magazine companies, do handyman repairs or paint to make extra money.
• Alternatives to occupational income. Auctioning items on auction websites, donating blood and participating in business research studies are examples of ways you can increase your income outside of work.

Learn about money management. When you are on a restricted budget, it is important that you take measures to organize and allocate your income funds so that you can meet your financial obligations as well as accounting for your future goals. Meet with a professional at a financial institution to discuss balancing a checking account, creating a savings plan and using credit accounts. You can also take advantage of the business seminars organized within your locality.

Secure your future. Once you overcome poverty in the present, you can ensure your chances at staying poverty-free by taking the following steps:

• Education. Studies show that education is invaluable to increasing your income and overcoming poverty for good. Education opens the door to numerous and variety of employment opportunities that would otherwise be unavailable to a mere man. Moreover, education equips you better to navigate through the sometimes complex network of government aid programs and money management techniques - both of which contribute to your ability to stay out of poverty.
• Investments. Speak with a financial advisor about investment vehicles that you can use to leverage a small amount of money into a larger one. This way you can make your money work for you, toward your goal of permanently overcoming poverty.
• Job benefits. Invest in employer retirement programs. Even the smallest monthly investment will add up over the long run. If your company does not have such programs, look out for other ones.

EMENIKE EMMANUEL
President/Founder
Emchis Motivational Network

emchis4noms@yahoo.com

+2347036251361