Topic: "10 Common Mistakes We make with MONEY" (Read 2165 times)
yes you are right this error can make you get a lot of losses if you do this, I think you just need patience and do not be easy to despair, still have a sense of wanting to learn and a sense of curiosity then you can get very much money.
Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.
This is so true because we usually lend money to our family or friends and they will never pay it back. LOL
I agree, some people if they know that you can afford because you have money they borrow money from you but never pay back. This mistakes happen because you know the person already and you believe them but before lending money to someone let assure to pay you back.
Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.
This one is interesting too, you just need to give it couple minutes of thinking. Its like with trading don`t buy when price is rising, buy when its dropping and sell when its rising. Here is the same strategy, don`t spend and save, first save and later spend. Its simple once when you understand it. We need to practice this advises everyday and every month, and after some time it will become a normal thing for us, good strategies about how to handle with money in many situations.
I think the right thing to do with our money is make investment and create emergency account in the bank. We should not spend more than our income because it will make us having a debt and it will be bad for our financial future
I think, regardless of amount of your income it is necessary trying to save some money for bad days. Even if our income is in range of avarage value, we have to try save one third of it. If our income lower than that, we had better to improve our skills to get a better job.
you are right, if our economic income is in the average range, we have to be able to save, we must learn to save, 1/4 of the income is enough. and we must open our eyes and minds to find a job that is more income-generating 
Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.
Right, because money always runs out rather than asking for ideas. Only with ideas can at least create opportunities, if ideas from rich people / entrepreneurs can create opportunities to meet market needs. The process of networking ideas is the best way to express potential ideas into real products or services. The steps in networking ideas can be done by creating different new products, observing opportunity doors, analyzing products and production processes in depth and not forgetting to take into account the risks that might occur.
Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.
This is so true because we usually lend money to our family or friends and they will never pay it back. LOL
I agree, some people if they know that you can afford because you have money they borrow money from you but never pay back. This mistakes happen because you know the person already and you believe them but before lending money to someone let assure to pay you back.
I think, regardless of amount of your income it is necessary trying to save some money for bad days. Even if our income is in range of avarage value, we have to try save one third of it. If our income lower than that, we had better to improve our skills to get a better job.
Why give someone money at all? It's a bankers ' business. They have lost their money many times and have many ways to claim debts. Individuals do not have such opportunities. It seems to me that point one needs to be replaced by the fact that doing their business in which you have experience and do not go to someone else's territory. You will always be defenseless there. Leave loans to bankers.
Well bankers have their own rules and cryptocurrency does but one thing in common both of these system needs us. We had feed them with the systems they created. We are not going someone else territory instead we are just following them because they have the authority to do it because we allow them this to happen. We sign a document and that we agree to be under their rules and regulation. I know a number of rich people and they all say the same thing: make sure that things you buy will be working for you. Like if you really want to buy an expensive car, make sure it's a rare, vintage model. Something that won't lose value over time. The worst thing you can do is buy a Ferrari that will cost a fortune to maintain and every paint scratch will make a dent in your wallet.
This is a very great point from you. Often at times, you see people buying items or properties they don't necessarily need, then they start struggling to either maintain it or pay tax on it. I think that is a shear waste.
I know a number of rich people and they all say the same thing: make sure that things you buy will be working for you. Like if you really want to buy an expensive car, make sure it's a rare, vintage model. Something that won't lose value over time. The worst thing you can do is buy a Ferrari that will cost a fortune to maintain and every paint scratch will make a dent in your wallet.
Making financial mistakes is very common with people. Maybe they should seek financial advice.
You just have to plan properly as to how you will pay back your debt and have a schedule or at least a back up plan in case the business goes wrong. Find an extra income then and do every thing you can to pay your interest. You may have a hard time at first but then you will be able to get through it with proper financial management.
If you let it happen then you cannot make more money with that money. So you need to keep investing in different places and try to make the best return available on the platform to make money.
I agree with everything except this part:
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Right, every hard worker is too busy with the job and there is no time to learn about investing. Hence these people believe that this will be profitable for them then they put all of the money for investment, and they’ll get money again in next month from the salary he got. Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
For the 6th error not everyone can be aware of their old age. Most people at a young age they don’t want to save but always shopping instead for contemporary things that have been viral in some social media for prestige. When they get old they regrets what they had spent when young is not valuable or useful for their old life.
those hints are so correct that i've actually read them few times inside the row, it's far happening with me now not that regularly, so i am fantastically appreciating you developing those mind and they may be amazingly wise, and easy at the identical time.
I myself know of alot of people that commit mistake #3 by way of credit cards and loans. I mean i see my officemates swiping their cards left and right only to to drown in debt when the bill comes and begs people to loan them money promising they'll pay it back after the next paycheck or just getting another card to cover up the previous card.
what you mentioned is very true and there are so many new traders who make this mistake, and hopefully this can help new traders to become good traders and get a lot of profits.
I think they are usually subjective on every issue. And most of the small details are not worth the attention. When it happens then know how important it is. 
For anyone aspiring to be rich, this are the kind of mistakes you must avoid in life.
Even if you do not aspire to be rich, you must avoid those mistakes because those mistakes are going to add years that you will have to work in order to fix those mistakes, and what can be better than avoiding those mistakes in the first place and use that time to live your life as you see fit, unfortunately many people make many of those mistakes and ruin their life because of it. Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.
Yes this is right. You may never get back. The money again. A person is an angel when he / she needs something that you have but he/she turns into a monster, into a devil when it is already the date to return the money. The one you lend is one who is angry.
I wish people can actually avoid all the mistakes listed here. But it is almost impossible as one may be guilty of breaking at least one. But this would act as a voice of caution.
Of course we all make mistakes in life and for sure we have done this thing before but its doesn't matter any more as long as we learned from that experience. Money is money, people are greed about it so everyone are guilty about this. Jump to: