Financial Failure ?

 I see broadly 3 characteristics that differentiate success and failure from a financial sense:

1. Not investing enough: You could ask how can a poor “invest”. There are a lot of things besides money. I see so many “poor” people unable to invest time or money in learning/ know-how, connections/relationships, etc. For instance, many IT workers whose whole work is based on knowledge don’t spend anything to keep upgrading the knowledge (with books, courses) and then complain when their company lays off in the middle of their career.
2. Not thinking for a long-enough period: Poor people often cannot afford to think long and thus make very expensive choices with money. Rich has a longer horizon to plan.
3. Getting into bad debt: When successful people get into debt it is for leverage — to multiply their power. It is always for a fast-growing asset. When poor people get into debt it is for a non-asset or a fast depreciating one. I see so many young people in my company and elsewhere who buy expensive phones, car, bikes on EMI. That is a road to ruin.

-Balaji Viswanathan

Product Market Fit

Why are we poor and others rich ?