Poverty of Mind and Money: Security Through Family

poverty

“That in this land of abounding wealth, during a time of prosperity, probably more than a quarter of the population are living in poverty, and so is a fact that may well cause great searching’s of the heart.” – Benjamin Rowntree (1901).

Poverty is a state of mind as much as it is a reflection of your current bank balance. There’s a great difference between feeling rich and feeling poor. One may exist in having the riches of security, love and enthusiasm through their family and their work, whilst someone living on a similar breadline may be feeling disheartened and frustrated.

Sufficed to say money does help alleviate pressures and prevent problems occurring or reoccurring. For example, a wealthy or secure person is less likely to become alcoholic as they are able to surround themselves with possessions, intrigue and entertainment. A poorer person, or at least one who feels poorer, may turn to particular vices or addictions in order to drown out the noise of perceived failure.

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Nine points about money you won’t hear from your financial adviser…

decisions about money

…and you really need to know if you want to win the Game of Wealth.

Financial advisers can be very useful: we had one and he was very helpful when we were trying to decide what to do with a small private pension fund pot.

We thought that the best thing to do with it is to take it out and pay off some debt; yeah, this was about four years back when we still had close to £65,000 worth of debt.

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