Once sage Shankaracharya was asking for Bhiksha, he reached to a door and knocked. A woman opened the door, he found she was in extreme poverty and had nothing to give.
Shankaracharya asked goddess Lakshmi why she was in extreme poverty. Goddess told it was her past life karmas that made her so poor, and becoming rich wasn’t in her destiny.
At that Shankaracharya said, “Goddess, you aren’t in any boundation. You are a mother, and you can’t keep your child like that.” Then in Goddess appreciation he sang a verse, that was called Kanakdhara stotram.
Since that time, people use Kanakdhara stotram to remove poverty from their lives.
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