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Inem
Knowledge Seeker
Asked: 2023-08-16T16:04:25+00:00 In:

Why are some people still broke despite working hard?

I have seen some people who are very hardworking but they are still broke despite all their hardwork. What could be the cause of this situation?

I thought that hardwork is the way to go if you want to break free from financial struggles? What are this very hardworking people missing in the financial success equation?

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4 Answers

  1. Jewel
    Knowledge Seeker Jewel

    There can be various reasons why some people remain financially challenged despite working hard. Factors like; (1) unequal access to opportunities, (2)low wages in certain industries, (3)high living costs, (4) medical expenses, (5) lack of education or skills, and systemic economic barriers can allRead more

    There can be various reasons why some people remain financially challenged despite working hard. Factors like;
    (1) unequal access to opportunities,

    (2)low wages in certain industries,

    (3)high living costs,

    (4) medical expenses,

    (5) lack of education or skills, and systemic economic barriers can all contribute to this situation. Although these challenges can be overwhelmed but it need more sacrifice just took it out of your poor state

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  3. aboy01
    Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    Simply being hard working doesn't ensure any level of success or wealth. There are many individuals that remain very broke even after working very hard throughout their entire life. This generally occurs because of several reasons, such as low wages at work, not being financially literate, bad spendRead more

    Simply being hard working doesn’t ensure any level of success or wealth. There are many individuals that remain very broke even after working very hard throughout their entire life. This generally occurs because of several reasons, such as low wages at work, not being financially literate, bad spending habits, lack of investment habits, too few opportunities, high expenses compared to income level, outstanding debt and not effectively using their time to build income/working smart relative to creating income or learning how to scale their income. Success is typically based upon a combination of being hardworking and having a solid strategy; and also developing new skills, making good investing/business decisions.

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  4. Ahmedo24
    Newcomer

    Firstly, we don't need to hard to create wealth rather we work smart to earn money and hedge over brokenness. It is best for you to understand what works for you before you engage in such work or jobs. You likely going to remain broke if you work hard to make money from Ponzi schemes because they arRead more

    Firstly, we don’t need to hard to create wealth rather we work smart to earn money and hedge over brokenness. It is best for you to understand what works for you before you engage in such work or jobs.

    • You likely going to remain broke if you work hard to make money from Ponzi schemes because they are mostly on luck, not any technical analysis
    • You should be prudent and make savings from your earnings no matter how small or big they might be otherwise you could remain broke eventually,
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  6. eldavis
    Enlightened Mentor Graphic designer

    there are actually so many reasons to this, these days working hard does not actually guarantee you would be successful, a person who goes to a construction site on a daily basis and works form morning till night is a hard worker but his money can never be compared to someone who is working as a sucRead more

    there are actually so many reasons to this, these days working hard does not actually guarantee you would be successful, a person who goes to a construction site on a daily basis and works form morning till night is a hard worker but his money can never be compared to someone who is working as a successful affiliate marketer for 3 to 4 hours a day. The key is to work smart. Then again in most cases it could also be that there is poor management of resources, they work hard and earn but they do not manage what they earn properly, hence they fall back to square one. 

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