UNDERSTANDING THE CATEGORIES OF POVERTY
For what it's worth, nobody is satisfied with being impoverished. Most people who struggle with poverty, though, were born into it.
Let's be real here. Nobody gets to select their parents; thus, it is not your fault if you are born poor. However, there are additional ways for people to fall into the cycle of poverty.
Breaking the cycle of poverty is the ultimate goal for the majority of those trapped in it. In any case, everyone aspires to financial freedom.
Knowing the many categories of poverty will provide you with the competencies needed to escape it.
Although it is used as a blanket phrase, poverty has four categories which we will discuss below.
CATEGORIES OF POVERTY
This group consists of people who frequently earn more than the poverty level but who could nonetheless face danger from unforeseen disasters like fires or floods. For instance, when Typhoon Haiyan devastated the Philippines in 2013, 70% of the nation's fishing industry suffered financial losses.
These people go through less severe, but more frequent, periods of poverty. Families who depend on agriculture for both their food supply and their income, for instance, may go through "hungry" times in between harvests.
People who fall into the third category, who are typically impoverished, are those who live in poverty unless when an unexpected windfall occurs, such as when a family member lands a job or when it rains after a protracted dry spell.
Perpetual poverty is the fourth type of poverty. Long-term poverty indicates that, despite income variations, individuals of this group consistently live below the poverty line. This sort of poverty can last for several generations.
There is more to the cycle of poverty than just a lack of resources. For long-lasting answers, one must delve a little further into this difficult problem. Making a focused plan to end poverty's cycle requires an understanding of all its facets.
DTD Enterprises has a plethora of resources available to help you break the cycle of poverty and contribute meaningfully to society.
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