Why is it that so many people are poor and struggle with money?

The truth is, our economic system is designed to profit from financial ignorance.

How Banks Exploit Financial Ignorance

Banks thrive when people lack financial literacy. They profit by keeping you in debt and charging interest on loans—car loans, credit cards, mortgages, and more. This ensures a steady stream of income from your interest payments.

Banks eagerly entice you with credit card rewards—points for dining, travel, and shopping. But behind these perks are strategies designed to encourage spending and minimum payments, ensuring you stay in debt for as long as possible while they make lots of money on their high interest loans.

How Corporations Benefit

Corporations leverage financial ignorance to maximize their profits. They use clever advertising to persuade you to spend impulsively. For example, when you order an Uber or a food delivery service, you might not even think twice. The ads say:

“You’re tired. It’s late. You’ve worked hard all day. Why not treat yourself? Tap your phone and enjoy delicious food at your doorstep.”

Corporations hire the smartest marketers, MBAs, and copywriters to create messages that open your wallet, often making spending feel effortless and justified.

How the Government Gains

The government benefits from financial illiteracy as well. Why? Because salaried employees—those who rely solely on regular wages—pay the highest taxes in the economy. Without financial education, you may never explore tax-efficient strategies like investing or starting a business, which could lower your tax burden.

So, What Can You Do?

It’s easy to blame others for your financial struggles:

• “The banks are the reason I’m broke.”
• “Corporations are draining my wallet.”
• “The government takes too much of my paycheck.”

And while these statements hold some truth, the real question is: What can you do about it?

If you spend every dollar you earn, wealth will always elude you.
If every time you get paid, you reward yourself with luxuries, you’ll never build a financial cushion.
If you focus on enriching others—through spending—before building your own wealth, it’s a choice you need to reconsider.

It’s hard to face the mirror and admit:

• “It was my mistake.”
• “I am the reason I don’t have money.”

However, it might not be entirely your fault. Many people face real challenges, such as:

• Growing up in a dysfunctional family
• Having limited access to quality education
• Being influenced by the wrong social circle

Once you acknowledge these obstacles, ask yourself: What’s next?

Taking Ownership of Your Financial Life

No matter your past circumstances, you have the power to change your financial future. It starts with education and small, actionable steps:

• Learn how to budget.
• Understand the basics of investing.
• Manage your money more effectively.

You don’t need a perfect plan to start. There are countless resources—blogs, books, apps, and networking events—to guide you.

A Challenge for You

What’s one small change you can make today to improve your financial life?

• Can you create a budget?
• Can you read a book about personal finance?
• Can you cut back on late-night Uber Eats orders?

Every little step matters. Each small improvement adds up over time.

Take control of your finances, and watch your life transform.