GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Its difficult to break free from the class into which you were born, Wood said.
Very few people succeed in achieving upward mobility in comparison with their parents.
No matter where you are born, going from extreme poverty to luxury can be difficult.
I grew up in a lower-middle-class family where financial issues were common.
When I was a child, my parents struggled to provide us withour basic needs.
We were often hungry and lived in a small rented house.
The experiences of our childhood shape our brains, affecting the way we think and act.
I grew up in a modest household where financial constraints were a constant challenge, he said.
Knowing and acquiring financial literacy was one of the most important steps inmy money journey.
Reading Rich Dad Poor Dad changed the way I think about money.
First and foremost, I prioritizedsaving and investing.
Getting an Education and Developing Skills
The first step toward escaping poverty is education, Wood said.
Education and skill development may be quite important for anyone hoping to advance economically.
Williams shared the same experience.
Understanding the power of education was crucial.
Despite financial difficulties, I focused on excelling academically.
I took advantage ofevery educational opportunityavailable, such as scholarships, grants and financial aid.
I attended community college before transferring to a university, which significantly reduced tuition costs.
I found that writing down all of my ideas, objectives, and daily schedules greatly improved my skills.
Your behavior and perspective can significantly change if you join a gym and engage in daily exercise.
The most important step in accomplishing anything is developing an ideal mentality.
I would constantly go to my instructors, employers and accomplished members of my community forsupport and guidance.
Great relationships and opportunities can be found through networking.
It is vital to establish ties with people who can provideguidance and support.
I practiced strict budgeting and prioritized saving.
This discipline helped me build an emergency fund and avoid debt.
Investing Wisely
As I began to earn more, I educated myself about investments, Williams said.
This approach helped me grow my wealth over time.
More From GOBankingRates
Share This Article:
