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How to get out of poverty that is what we are talking about here today guys i’m gonna give you the two ways on how you can truly get out of poverty okay we’re also even going to the three things that you absolutely need to avoid if you’re broke right now and you are not doing too well financially i wanted to do this video today cuz i like a lot of times i’m on the

Channel and like i think this everybody’s doing really good financially because i talk a lot about stock market and whatnot that attracts a lot of people who are already doing very good financial in life like i already live in like a middle-class lifestyle or maybe are already wealthy people a lot of those individuals watch my channel however there’s also a big

Portion of this channel that you guys aren’t doing too good financially you’re broke or you have very little money or you’re in the poverty class okay so today’s video is a hundred percent dedicated to you guys i want to give you these two ways and the three things that you have to avoid if you want to get out of that poverty and take it to the next level i know

Not everybody wants to get out of poverty some people don’t mind being poor mind being broken and that’s fine this video is probably not for you this is for the people out there who are not doing too well financially right now it want to maybe get to a middle-class lifestyle or something above a middle-class lifestyle today’s video is for you guys and you guys

Only okay so let’s get into this guys the first off you have two ways of getting out okay the first way is to educate your way out okay you can educate your way out now educate your way out what this basically means this means it go and get a college degree alright now if you’re poor you’re broke you’re not going to be able to pay for that college degree yourself

And i highly do not recommend you taking out a bunch of student loans to go ahead and do that okay so your in life you always want to use certain things to your advantage okay we all have certain things to our advantage and disadvantage one of the advantages you have is if you’re poor you’re poor okay which means you probably have a low income okay you have a low

Income and probably no savings or very low savings and whatnot okay the great thing about this is you’re going to you’re going to qualify for a lot of government programs okay it’s a little likely to be state by state process all right i know here in nevada if you make under a certain amount of money and you’re serious about going to school they will pay for your

School i’m talking about college okay they will pay for your college you can get these these grants and whatnot in as long as you finish school you don’t have to pay back a dime now if you drop out or you get really bad grades then you’re liable to pay back money that’s a problem but as long as you’re serious about it you go to school you take all the classes and

Whatnot here in nevada if you have very very low income you can literally go to college for free you can get a college education for free not a dime out of your pocket okay that’s a pretty cool thing i know a lot of states have programs like this okay and that is one of the advantages to if you’re in poverty if you are poor you can get literally a free education

Okay i’m not i don’t you know every states different about you know how much money you need to make or not make okay but this is your first way to get out because you educate yourself okay you get a college degree and that’s gonna definitely increase your likelihood of you being able to get a better job out there you know let’s say you’re working you know for $8

An hour or $9 an hour or $10 an hour at a fast-food place or the local retail place or whatever this will allow you to take a step up and apply for better jobs also now that you get a bachelor’s degree or something that allows you to take things to the next level and kind of get out of that that load those low jobs there okay now the only downside to this is is

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You just does take time okay this is gonna take most people four to six years to do okay so it’s like you’ve got to wait a long time before you even can maybe potentially start you get to get out of that poverty and so let’s say you know you never went to college or anything but you you may have a low enough income you’re serious about doing it and you want to

Go out there and achieve it so you’ll qualify for the program you go out there and do it well the problem is like i said you got to wait for six years before you even get your degree to then apply in who knows what if we’re in a recession or something at that time there might not be as many jobs out there to hiring in the first place okay so it’s definitely a time

Consuming process but this is one way you hang it out and this is one way people get out of poverty okay they get a college degree and then they can you know reach the middle class to get a decent job and they go from there okay that’s one way the other way is a way that my parents got out okay so if you don’t know anything about my life i grew up in poverty okay

The first part of my life my first 12 years we grew up in the hood typical situation okay poverty food stamps all that type of stuff my parents guard got out by starting their own business okay by starting their own business is i should say okay this is a really practical way in my opinion and can happen a lot faster on getting out of poverty much quicker in a

Much quicker amount of time okay then going through the education process and honestly i think this is just a better route okay so you know my dad was working you know random jobs here and there are used car salesmen he tried to be a realtor for a little bit things weren’t the things weren’t working out okay things were not working out he was trying to do a lot of

Different things and he had a job working for a pool company a lot of different stuff okay then he went in decided he was going to start his own little pool business okay and how he went about this is is a smart way going about it okay so a lot of times when people grow up in a poor neighborhood or they live in a poor neighborhood they think okay so i’m in this

Poor neighborhood how am i gonna start a business everybody is around me poor there’s nothing i could sell them or do anything okay what he realized is i’m not gonna sell in my neighborhood i live it i’m gonna go to a neighborhood where they have money and go do business over there okay so we lived in this neighborhood called maryville which it was just a horrible

Neighborhood back then and it’s probably still is you know gang fighting all the time oh i take his stuff okay and he’s like there’s no money here so what he did is we went in drove 30 plus minutes away to a retirement community okay and i still remember as a little kid like going in and putting the little flyers with the rubber band on people’s doors out in this

Retirement community on houses that had pools we you know that they would like give me a boost and i would look over the wall and like see if the person had a pool or not in this retirement community and that’s what we did and slowly but surely some people started calling them and and then we just started getting the business rollin he worked hard he got it up

And running and then it went from customer or customer and over the course of time we were able to get out of poverty because he started his own business and my mom also started a house cleaning business okay out in the same retirement community so they went to where the money was that the retirees got money okay those people have money though you know live out

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In sun city sun city west out in arizona okay those folks have money out there so they’ve realized i’m not gonna sell in the community because the community you know every time we ever did happen to get a pool that was in the hood guess what happened every single time in our own neighborhood we always got shafted my dad always got shafted the people didn’t pay or

There was always some excuse over on the money this month can we pay there was always some drama there in the retirement community there was no drama ever okay there was no drama ever my dad didn’t have to you know go knocking on their door to try to you know hey where’s the money starvin paid none of that stuff out in the retirement community okay so that’s what

He realized and so through that we were able to get out of poverty as a family and make it to the middle class okay and so then the back half of my childhood i guess you say you know age 12 to you know 20 or 21 when i moved out i got to live a middle-class lifestyle it was just a much different thing and i don’t think i think if it wasn’t for that i don’t think i

Would be where i’m at today okay i’m just taking things to the next level okay when you win the when you’re when your parents can take you to a level so think about that for a lot of my older viewers watching us right now that maybe you guys are in poverty right now okay think about it this way if you can just get your family to a middle class wait to see what that

Can do for your kids down the road okay you know that’s the big big difference not just in your own life being able to you know reach the next level but it’s about your kids next level okay so those are two routes you have to go now we got to talk about three ways to you know three things to avoid if you were in poverty okay that’s gonna be very important because

Just as important as this stuff is these three things that you have to avoid because if you get caught up into these three things here you know it’s just gonna be damaging and i’m not talking you know we could talk about easy stuff like drugs or anything like that like obviously that stuff you don’t want to get involved with i’m talking about some bigger things

Okay that i see hold back a lot of people financially the first one is what i call high interest loans high interest loans these kill the poor people okay these kill people in poverty high interest loans is what happens when you need a bill paid or you need something paid okay and you look in your account and you don’t have the money there and so what do you do

You go down to one of those payday loan places that are on every single corner in the hood you know i live in las vegas here i live in a really nice community in las vegas but if i was to go to the hood parts of las vegas here guess what i’m a fine on every single corner in this probably multiple of them check cashing places payday loans high interest loans all

These little things where oh yeah we’ll give you five hundred dollars today $1,000 today you just got to pay this loan back at a 50% hundred percent interest rates okay these are all over the hood for a reason okay because people sign up for them and these places make bank off that okay even if the person doesn’t pay back the next person that does pay back you

They’re kind of pay back so much interest that a little pee they place is gonna make bank off that okay these high interest loans are the first thing that you absolutely have to avoid if you were in poverty you get caught up in to this this will continue to destroy any amount of wealth you want to increase okay because basically what happens is you get one of those

Loans and then all sudden you realize shoot i can’t quite pay you back all that loan the interest rates too high so let me take out another loan to pay off that loan and also in you’re paying off this other loan and then you take out another in it it’s just a never-ending cycle of you trying to make you know try to take out other loans to pay off this o l loan all

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Your savings or what could be savings is going strictly over to these payday loans it is a mess guys you have to avoid that by any means necessary the second thing to avoid of the three is is something that you can prevent this and it’s basically you know having no savings okay no real savings and what i mean by no real savings i don’t mean you don’t have $10,000

In your bank or $100,000 that’s great that means you’re probably already out of poverty i’m talking about emergency money okay emergency money every single person on the face of the earth should have at least at least $1,000 of emergency money okay at least i mean i think it should be a lot more than that but i’m just putting a you know the lowest number i can

Possibly think of $1,000 of emergency money what emergency money means is exactly what the name is this is emergency money this is money you don’t touch okay you don’t touch this money unless literally it’s like you haven’t no other options out there okay this is your payday loan okay it’s that emergency money so if you have no other money you can possibly get two

And you have to pay this bill you have to get your tire fixed on your car this is what you do you go to that emergency money that emergency savings okay that’s a route you go there if you if you get caught up into this no savings thing no emergency money also and you get a flat tire in your car and you’re like shoot i need to get that fixed i need to get to work

Tomorrow i don’t have any emergency money around guess what you do you go take out one of those high interest loans and it just starts the ball rolling the wrong way guys and the third thing to avoid is government dependency this is something big-time you know people get on these government programs food stamps welfare and some of the other programs okay if you

Get on that you will just say no gee ok there’s no problem if you get on it because you need to get on it for a certain amount of time and you’re going through a rough patch in your life but the problem is some people get on the government programs and they stay on if you ever go on one of these programs just have it in your mind like dude i need to get off this

As soon as possible i don’t care if it’s food stamps welfare health care from the government anything across the board you want to get out of that dependency as fast as possible as fast as possible that’s what it needs to be in your mind not like i’m gonna sit back and chill for a while because what ends up happening is then you start getting lazy then you start

Getting relying on it once you start getting relying on it you start taking away you know respect for yourself you start taking away freedom for yourself and you start putting your freedom in the hands of these guys over in government and it’s never a good idea to put the the well-being of yourself in government’s hands trust me on that that’s never ever a good

Idea ok guys listen that’s not a good idea so this is how to get out of poverty i hope you guys really enjoyed this video today hope you learned a lot from it let me know what you think down there that comment sectioning just do it guys you know you stick to these things i taught you today and trust me you can do it it’s gonna take a little bit at a time but man

Once you get out it’s like a whole different world out there guys thank you for watching have a great day

Transcribed from video
HOW TO GET OUT OF POVERTY NOW By Financial Education

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