What if I told you the reason that you are broke is that you choose to be and that you alone are responsible for all your financial mishaps? Of course, most people are reluctant to take this position because it feels better to blame their economic turmoil on everything and everyone else. Poverty is a direct result of the choices we make daily. I’m sure someone will argue that some people are born into poverty; this is true. But we must also support then, once a person becomes an independent thinker, they become responsible for their well-being and are capable of ending the cycle of poverty—living check to check. What most people fail to realize is micro-decisions can lead to macro consequences; every dollar spent at a vending machine or a fast-food restaurant could be money saved and invested. In economics, the terms trade-offs and opportunity costs are often used to describe the consequences of decisions. What one gives up when they decide to choose option A over option B.  The fact is, if you are on the lower part of the socioeconomic totem pole, then you pass up on financial opportunities regularly. We are in an age where people can become financially free or supplement their incomes from the comfort of their homes. The internet has made investing in companies and annuities a lot easier, and even understanding the concept of saving and investing has become more accessible with the inception of educational platforms such as Youtube, Khan Academy, Udemy, etc.

Information that empowers individuals to go from one side of the spectrum to the other is everywhere. Therefore, when I say, so poverty is a choice, I mean it with the understanding that people are in control of what information they take in that facilitate better decisions. So why don’t people make better choices? There are several reasons why, but the main three are; lack of ambition, lack of education, and being closed-minded.

People hope that money will magically appear out of nowhere or that they have better chances of winning the lottery.  America, one of the only places in the world where a person could be completely broke one year, then make a conscious decision not to be the next year rise from poverty. That’s a choice.  That’s your choice. So, if you want to improve your circumstance, if you’re going to live happier and more fulfilling lives, make a choice. Your economic status has always been, and will always be your choice.