Every country has poor people and every country has different ways of dealing with the poor.

What are some of the causes for the world poverty?

What can be done to help the poor people?

A stable monetary situation for a person is more crucial than ever. Financial backwardness has become a
global issue which is being addressed in many ways by every nation. There are certain reasons behind
international poverty including unemployment and financial illiteracy. On the other side, certain
remedies such as creation of jobs and spreading awareness about personal finance can be effective ways
to go about this. Explained below are the same in detail.

To begin with, the biggest cause of poverty is lack of enough jobs. Not only does this reduce purchasing
power but also deteriorates fiscal matters of people. This results in poor survival conditions which is a
clear sign of poverty. Moreover, absence of financial management knowledge could be devastating for
an individual in a long run as they cannot properly handle critical pecuniary situations in life which
further results in worsened wealth circumstances. For example, Mr. John Doe ended up spending all the
money after winning a million dollars from the famous show “Who wants to be a millionaire?”, owing to
weaker financial education.

On the other hand, among many solutions, the first one would be for a government to develop
employment opportunities to tackle poverty. Authorities should establish a lucrative environment to
attract large international corporations to expand business in their countries which helps to reduce
unemployment and hence, poverty. In addition, spreading financial awareness is as important. Should
such subjects be taught to children in school, they would be able to understand them easily moving
forward in life. Furthermore, the government should also put covert and overt efforts to educate adults
in terms of money management. By doing so, citizens can easily keep up the pace financially leading to a
lower level of poverty overall.

In conclusion, certainly, unemployment and lower financial education are challenging causes for poverty;
however, by increasing the number of opportunities and imparting fiscal education to people, these
issues can be addressed effectively.